BiggerPockets

Nine Assumptions Made By Realtors

This article is not for those agents who are professional in all their dealings, hate that the actions of their fellow agents give the over all organization a bad name and who already treat their clients/customers right. However, these are few and far in between so perhaps those bringing shame to the game will listen up and change their wayward ways. The public is not a stupid mass to be treated badly. Get with the program and avoid the following nine assumptions made by realtors. These are not placed in any order of significance - just as they came to mind for writing this article.

The first assumption is that the public needs their services. Many agents feel they are so important that the whole transaction would be a complete disaster without them. However, this is not true, the best closing I ever attended was with a Seller, a Buyer and an attorney. Whole transaction was closed for $550 by the attorney (no Title companies in that state which is another whole ball of gummy wax) and it included a Title Policy from Chicago Title. In many leadership classes they have the suggestion: "Lead, Follow or Get Out of the Way". Realtors need to get out of the way so the free enterprise system can function smoothly.

The second assumption is that they are so much more superior to the clientele they deal with on a day-to-day basis. This is so wrong. Get out of your ivory towers and see where the rubber meets the road and you will find out you may be superior to a bump on a gnat's behind, but not worth much more than that.

The third assumption deals with those states that continue to push "dual agency". By definition an agent is someone who represents another person providing 100% of their effort for the person they are representing. Even in the Bible it states you cannot serve two masters at the same time. There is no way you can represent both sides in a transaction and honestly swear that you are giving both sides 100% of your time and effort exclusively.

The fourth assumption is that people should be begging their services. Many times the agent it is the other way around. The agent is so desperate to make a commission they are begging people to hire them to represent them. How professional is that? Get off of your knees and go get a real job.

The fifth assumption is that the more designations after your name the better agent you are. There are agents that are so busy getting designations - they do not have any time left over to work with anyone. The public is not deceived by this. Almost everyone is familiar with book smarts and street smarts and which one will get the job done faster. Seeing a lot of designations may raise a red flag to the public.

The sixth assumption is that if they work for a big name company the agents feel they also are entitled to big name status. No matter where you are in life - status and respect are things that need to be earned. Don't hide behind the big name company sign and think you are "Mr Biggie".

The seventh assumption is that realtors are too busy to return phone calls or to keep clients briefed on the status of the transaction. It has been noted that if you fail to get back with a client within a 24-hour time period - you have just lost that person as a client. Open communications would eliminate many problems before they have a chance to get started.

The eighth assumption is that the expensive ads being played by the National Association of Realtors is not a cover up for the actions of their fellow agents. As has been stated above, the public is not stupid. They understand that illegal things are being done by agents. They are investigated by a in-house panel that finds "no wrong" was committed. The ads are not working - perhaps you should ask for that portion of your desk fees back. Clean up your act so you are not an embarrassment to your friends and family.

The ninth assumption made by realtors is that they are not a dying breed. With the advent of the internet - buying and selling properties world-wide is open to anyone. No dinosaur in the middle is required to slow down the transaction or to cause loss of funds from the Seller's net proceeds. Throw in the towel and go for the international licensing.

These nine assumptions made by realtors are some of the reasons that they are not perceived as being some one to trust to represent the public in real estate transactions. Do away with the Political Action Fund used to bribe politicians into voting for favorable regulations toward your industry. Perhaps with a major overhaul, the public would be able to trust the agents again after how many million lost their homes already?

Comments

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  Nick J. — 10 months ago

  Interesting. I just became an agent but I can't really disagree with most of what you've said. Maybe a little harsh but there is still truth in it for sure.

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  Peter Haymond — 10 months ago

  The seventh assumption is so true. I called a BPO agent who never returned my call and it made me want to kick down the dumb sign he put up in front of the apartment complex. I've met several Realtor's highlighting many of these traits although usually they are older realtors with bad habits or their ego is too high. The good ones stand out like a Raider fan on gameday.

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  Marc Freislinger — about 1 month ago

  Is there any advice in here, or is this just a rant against Realtors?