Most Realtors Suck and the STATS to prove it.

Most Realtors Suck and the STATS to prove it.

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

It's a daily occurrence that somebody creates a thread here on BP talking about how bad their Realtor is, and how Agents all suck etc....

Myself, I'm licensed and have sold over $200 Million, so it's a fair assessment that I myself do not suck. However, does this ring true for the rest of the real estate industry? It's widely known that over 80% of agents fail in their 1st two years in the business. That state alone backs up the notion that most agents do indeed suck. What about the ones who don't fail though? What does the average agent look like? Does the average agent suck?


NAR Membership Statistics

Members to date: 1,383,010 as of July 2019

Number of local associations: 1,148 as of January 2019

Source: Monthly Membership Report and NAR Membership Statistics, 1908-present

REALTOR® Demographics

  • 68% percent of REALTORS® are licensed as sales agents, 20% hold broker licenses, and 14% hold broker associate licenses.
  • The typical REALTOR® is a 54-year-old white female who attended college and is a homeowner.
  • 67% of all REALTORS® are female, and the median age of all REALTORS® is 52.
  • Real-estate experience of all REALTORS® (median): 8 years
  • Median tenure at present firm (all REALTORS®): 4 years
  • Most REALTORS® worked 35 hours per week in 2018.
  • The median gross income of REALTORS® was $41,800 in 2018, an increase from $39,800 in 2017.
  • Median number of transaction sides in 2018:
    • Residential sides for all REALTORS®: 11
    • Residential sides for residential specialists only: 12
    • Residential sides for commercial specialists only: 4
    • Commercial sides for commercial specialists only: 4
  • Formal education of REALTORS®:
    • Some college: 30%
    • Bachelor's degree: 31%
    • Graduate degree and above: 13%
    • Associate degree: 13%
    • Some graduate school: 6%
    • High-school graduate: 8%
  • REALTOR® affiliation with firms:
    • Independent contractor: 87%
    • Employee: 5%
    • Other: 8%

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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
6y

Sorry Brad. Answering your phone puts you ahead of 95% of agents...

See this reply in the discussion

73 Replies

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  • Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
    6y

    Statistics are fascinating.  When I used to work at a brokerage company, I had some insight on how much agents made.  About 40% of them were very low, but the correlation for the low earners included part-timers, beginners, and some who had licenses but engaged in outside related activities - such as a landlord.  

    Selling real estate has low barriers to entry and a considerable failure rate - like any sales job.  Quality control on an agent's performance and service is very light because they are independent contractors.  

    Generally, it is not a position to get rich, but a top agent can make money equivalent or even more than a doctor, lawyer, etc...  I have seen both top notch service from agents and and quite a few questionable agents.  The income difference is predictable.

    Now, there is a lot of new technologies that are trying to supplant the real estate broker.  So far, the position continues to be durable.  Yet it always is evolving.

    For those of us who purchase investment properties, most regular agents won't provide the product knowledge that we need.  If I were to have a gripe, it would be real estate investment sales brokers who fabricate and fudge details of their listings.

  • Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
    6y
    Originally posted by @Brian Ploszay:

    Statistics are fascinating.  When I used to work at a brokerage company, I had some insight on how much agents made.  About 40% of them were very low, but the correlation for the low earners included part-timers, beginners, and some who had licenses but engaged in outside related activities - such as a landlord.  

    Selling real estate has low barriers to entry and a considerable failure rate - like any sales job.  Quality control on an agent's performance and service is very light because they are independent contractors.  

    Generally, it is not a position to get rich, but a top agent can make money equivalent or even more than a doctor, lawyer, etc...  I have seen both top notch service from agents and and quite a few questionable agents.  The income difference is predictable.

    Now, there is a lot of new technologies that are trying to supplant the real estate broker.  So far, the position continues to be durable.  Yet it always is evolving.

    For those of us who purchase investment properties, most regular agents won't provide the product knowledge that we need.  If I were to have a gripe, it would be real estate investment sales brokers who fabricate and fudge details of their listings. 

    Yeah I agree. Agents are worth our weight in gold if we are smart and honest and accurate and hard working. Most are not really knowledgeable about how and why apartments make good sense.

  • Residential Real Estate Broker · Morgan Hill, CA · Member since 2015 · 79 posts · 65 votes
    6y

    So here is my 2 cents. And it is 2 cents of opinion that gets me a few thousand bucks in angry real estate agents trying to argue with me pretty much every time I bring it up.

    First, we need to admit to ourselves that the metrics we use to measure ourselves have nothing to do with the quality of the service that our clients get. We have managed to sell ourselves and the population on the idea that because I listed the most houses, sold the most houses, earned the biggest commissions or sold the highest dollar amount of real estate in some arbitrary time frame, that we are good at our jobs and clients should believe it too.

    Sorry folks, just not true.

    I knew a "Top Producer" in my market. They tended to get the most listings and sell the highest dollar value of homes. However, lets review a few things about that agent from when I ran the numbers a few years back:

    - If they list a home, it only has a 53% chance to be sold in a market where 87% of homes that list sell on average.
    - When they do get a home sold, it tends to be for 92% of asking price. In the market in general, homes tended to get 99% of asking price.
    - Once they get a property into escrow, they have a 18% chance that the escrow will fall through. The average in the market is a 13% rate of escrows falling through.
    - This agents listings tended to sell after 52 days. The market average was 36.

    So in every way that matters to a client, they do worse than the average experience for their market. How much you made or the volume of homes you sold should only matter to you and your broker. Your client does not have a dozen homes to sell, they have one.

    And there is the problem. You can be a very successful agent and be very crappy at the actual job of getting clients what they want. So if you want to really focus on your clients needs, focus on the things they actually care about. You already know what those things are, because it has been beaten into you to address them in your listing presentation. Show them that when your home sells, it tends to sell for more than the average home in the same market. Show them how you get homes sold faster than normal for the market. Share how when you open an escrow, it closes, unless your client does not want it to. Of course, have the data to back all that up.

    I have shared this enough to know that for most agents, the idea of having real metrics to judge how well we do for clients scares the stuffing out of them. I remember when I first opened my brokerage and I did a recruiting event. I brought up how success would me measured using the criteria I mentioned above and I looked out on a room of people that look scared to death.

    Anyway, maybe it's just me. I gave up trying to convert other agents a long time ago. All the current assumptions are so ingrained (and hey, they work if all you want to do feed the bottom line - don't argue with "success" right?)


    Funny story to go with this. Way back in the first few years of my career in real estate... it must have been like 1990 or 1991 I was working at a huge national franchise. Three of us were among the youngest in the office and were pretty aware of each others accomplishments in the world of real estate. So one of these folks was showing me his new card. On it, he had proudly placed the cute little medallion thing for being a "Top 1%" agent. In all the ways that was normally measured, I knew it was not true. When I asked him, he dead pan told me "For the month of June, I got the most listings of any Male agent over 6 feet tall in this office." So there ya go.

    Before you can be better, you have to want to be better.

    Cheers,

    Robert

  • Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
    6y

    @James Wise

    Kudos for you.  Good job, is that what you want to hear.  Sometimes these new realtors need an opportunity.  Some will strive, the majority will fail (looks like it by the numbers), but Real Estate jobs are often seen as a part time job.  But who cares about other agents/realtors.  To me a realtor/agent is like any other job or contractor.  If you do mediocre job or don't have good standing/references/backup resume, etc., I will hire the next one that do have all that.

  • Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
    6y
    Originally posted by @Syed H.:

    Problem is, a lot of realtors do it as a part time or side job. It's too easy to become one. Only a small percentage are really good at sales/marketing and do a lot of business. An even smaller percentage know both the retail side and REI side.

    Also a lot of people have licenses but aren't technically doing deals. Even I have my RE license. I almost never use it because it would be stupid (rather give my brokers the commission so they bring me more deals). I only use it when I buy an REO and can get an easy commission from the bank.

    :)

    Was getting my haircut before all this COVID crap...

    Hairdresser is making conversation, asks what I do. 

    I tell her I write for a living, I have clients and write copy for them. On top of that, my wife and I invest in RE. 

    She perks up and goes: "Oh, I'm a realtor. I can help you look for some houses to invest in." 

    Meanwhile --- I ask her to just clip 2 inches off...

    She takes 3...

  • Investor · IL · Member since 2019 · 151 posts · 135 votes
    6y

    @Robert Whitelaw

    @Robert Whitelaw I started a thread asking how I can get noticed by Real Estate agents and I got some very good advice there. In a nutshell the responses were how to provide evidence of value to them. Which was what I asked for.  However you have given me a list of metrics to use when interviewing agents. The things that matter to me. I wanted to thank you for that.

    I feel that if agents and brokers continue with the mind set that their own bottom line is the only way to measure success, and they are not taking into account the clients perception of value, this is most detrimental to the industry in general.

    My thoughts have been the same as some others on here that I need to get my license so I can get the MLS and make offers on my own. I don't really want to do that. I would much rather find an agent who will do the work for me, but I have no interest in doing the work so that the agent can be paid their commission. I don't see the value in that.

  • Virginia Beach, VA · Member since 2016 · 14 posts · 6 votes
    6y
    Originally posted by @Pat L.:

    I love the new concept. You call about a property, have to leave a msg, someone calls back to get all your pertinent info & then tells you they are part of JOE REI's 'team'.

    Then JOE REI who you originally called eventually gets back & without allowing you to interrupt gives you a run down of all their life, experience & success in REI. Then when you ask how many investment properties THEY OWN it's crickets, until they again repeat their value to you the 'buyer'. In 25 years we have had 2 'go to' agents & that's only because the 1st retired. The only agent I have had offshore for 30 years is 75 & still with it.

    But in all fairness my 26 yr old daughter just connected with a 'grandma type' agent (her words) in Scottsdale AZ regarding a home purchase there & was very impressed with her. The agent did NOT put her down because of her age or insist she be pre-qualified before she 'wasted her time' showing the home(s) esp given the value of the properties she wanted to view. 

    Both my daughter & room-mate work from their respective home offices hence the need for 4 bedrooms & because their cells & lap tops are melting if they are at the pool too long. If ONLY they could meet decent motivated guys !!!

    That's funny as I always wish I can meet a motivated woman who shares the same goals *wink wink, nudge nudge*. That aside, I've only had minor experience with a REALTOR as I only have a SFH and a duplex. Both acquired by my current Realtor. Now I can't say whether she's bad or not, as i've gotten both homes for the price I wanted. She was recommended to me by my Division Officer onboard my ship who also happens to be a real estate investor. I would say my experience differs from the OPs experience with Realtors, but I do appreciate the numbers

  • Member since 2020 · 113 posts · 33 votes
    6y

    Most real estate agents fail in their first year, in large part because they simply don't believe that they can succeed. This lack of belief, and the high attrition rate that they see that reinforces it, leads them to stop doing the things they need to do to be successful.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Syed H.:

    Problem is, a lot of realtors do it as a part time or side job. It's too easy to become one. Only a small percentage are really good at sales/marketing and do a lot of business. An even smaller percentage know both the retail side and REI side.

    Also a lot of people have licenses but aren't technically doing deals. Even I have my RE license. I almost never use it because it would be stupid (rather give my brokers the commission so they bring me more deals). I only use it when I buy an REO and can get an easy commission from the bank.

    Where I use mine is for referrals  those a nice easy pay checks and I make sure those that contact me and ask for referrals get with an agent I know is very good saves them a lot of time.. Also we list all our own new builds etc on the west coast.. this saves us hundreds of thousands a year. and that goes straight to the bottom line.. 

  • Real Estate Agent · Cleveland OH · Member since 2015 · 216 posts · 275 votes
    6y

    Anyone have the latest update an Zillow's experiment in limited markets to flip homes.     I think Las Vegas was a test market.   I have not seen anything new on it for months. 

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    6y
    Originally posted by @Robert Whitelaw:

    So here is my 2 cents. And it is 2 cents of opinion that gets me a few thousand bucks in angry real estate agents trying to argue with me pretty much every time I bring it up.

    First, we need to admit to ourselves that the metrics we use to measure ourselves have nothing to do with the quality of the service that our clients get. We have managed to sell ourselves and the population on the idea that because I listed the most houses, sold the most houses, earned the biggest commissions or sold the highest dollar amount of real estate in some arbitrary time frame, that we are good at our jobs and clients should believe it too.

    Sorry folks, just not true.

    I knew a "Top Producer" in my market. They tended to get the most listings and sell the highest dollar value of homes. However, lets review a few things about that agent from when I ran the numbers a few years back:

    - If they list a home, it only has a 53% chance to be sold in a market where 87% of homes that list sell on average.
    - When they do get a home sold, it tends to be for 92% of asking price. In the market in general, homes tended to get 99% of asking price.
    - Once they get a property into escrow, they have a 18% chance that the escrow will fall through. The average in the market is a 13% rate of escrows falling through.
    - This agents listings tended to sell after 52 days. The market average was 36.

    So in every way that matters to a client, they do worse than the average experience for their market. How much you made or the volume of homes you sold should only matter to you and your broker. Your client does not have a dozen homes to sell, they have one.

    And there is the problem. You can be a very successful agent and be very crappy at the actual job of getting clients what they want. So if you want to really focus on your clients needs, focus on the things they actually care about. You already know what those things are, because it has been beaten into you to address them in your listing presentation. Show them that when your home sells, it tends to sell for more than the average home in the same market. Show them how you get homes sold faster than normal for the market. Share how when you open an escrow, it closes, unless your client does not want it to. Of course, have the data to back all that up.

    I have shared this enough to know that for most agents, the idea of having real metrics to judge how well we do for clients scares the stuffing out of them. I remember when I first opened my brokerage and I did a recruiting event. I brought up how success would me measured using the criteria I mentioned above and I looked out on a room of people that look scared to death.

    Anyway, maybe it's just me. I gave up trying to convert other agents a long time ago. All the current assumptions are so ingrained (and hey, they work if all you want to do feed the bottom line - don't argue with "success" right?)


    Funny story to go with this. Way back in the first few years of my career in real estate... it must have been like 1990 or 1991 I was working at a huge national franchise. Three of us were among the youngest in the office and were pretty aware of each others accomplishments in the world of real estate. So one of these folks was showing me his new card. On it, he had proudly placed the cute little medallion thing for being a "Top 1%" agent. In all the ways that was normally measured, I knew it was not true. When I asked him, he dead pan told me "For the month of June, I got the most listings of any Male agent over 6 feet tall in this office." So there ya go.

    Before you can be better, you have to want to be better.

    Cheers,

    Robert

     It's business. The goal is to make money. The more money one makes the better they are at running their business. You're kidding yourself if you believe differently. I am guessing you don't actually believe something different either. I am thinking this is some softball "I care more about my clients than the next guy" sales pitch. If you want the most satisfied clients in the industry work for free. They will love you.........................Lame.

  • Residential Real Estate Broker · Morgan Hill, CA · Member since 2015 · 79 posts · 65 votes
    6y

    Hey @Gail W,

    Thanks for that Gail. There is also another way to think about this - in case anyone more bottom line oriented needs a nudge. One of the responses I get from agents when I talk about this is that "It does not scale". Of course, they are talking about wanting to become the agent that closes 300 transactions a year. This is correct, it does not scale. Surprise, it shouldn't. Let me tell you what I know about industries that are designed to be able to 'scale'. To scale is to create a path of delivery in which those efforts can be made easily duplicated and/or automated. So, the agent out there that is trying to work "At Scale" is literally making what they do completely replaceable by automation - which a number of companies are trying to do.

    What I want to create is a service that has clear data to backup its benefits (I routinely save/make my clients far more than my fee - this should ALWAYS be your goal). But, I cannot accomplish that at scale. I limit the number of clients I take on at any given time in order to assure that I can give their transaction the time and effort needed to yield the best results. That does not scale - and if it did, I should be worried for the future of my position.

    More to Gails point, agents do not start out the twisted creatures they have become. They were trained that way. I have gone through the onboarding training for a couple of different national franchises and NONE of them provided any kind of training relating to excelling at the things I previously listed as the metrics you should care about. You get enough of that kind of training - which can and does work - and you start losing touch with providing a quality service rather than having an effective client acquisition process. 

    Originally posted by @Gail W.:

    @Robert Whitelaw

    @Robert Whitelaw I started a thread asking how I can get noticed by Real Estate agents and I got some very good advice there. In a nutshell the responses were how to provide evidence of value to them. Which was what I asked for.  However you have given me a list of metrics to use when interviewing agents. The things that matter to me. I wanted to thank you for that.

    I feel that if agents and brokers continue with the mind set that their own bottom line is the only way to measure success, and they are not taking into account the clients perception of value, this is most detrimental to the industry in general.

    My thoughts have been the same as some others on here that I need to get my license so I can get the MLS and make offers on my own. I don't really want to do that. I would much rather find an agent who will do the work for me, but I have no interest in doing the work so that the agent can be paid their commission. I don't see the value in that.

  • Residential Real Estate Broker · Morgan Hill, CA · Member since 2015 · 79 posts · 65 votes
    6y

    I am very familiar with your take on this and I don't see any good common ground we can find here.

    However, I will say that if the goal of your business is to make money, you are missing the mark. The goal is to provide a service that people will pay for - without that, the whole make money part will fade fast. A subtle difference, but one that makes all the difference when it comes to being able to sustain a profitable existence.

    Also, if you equate the most satisfied customers in the world with having to work for free, that kind of informs that whole attitude. This does not mean I am willing to work for less, I understand the value of what I provide and getting paid well goes right along with it.

    If you are doing it right, you are charging for your services AND getting the most satisfied clients in the world.

    But hey, as I said before, staying focused on the bottom line works for most folks - you are in the majority. My way works great for me and I feel like it is a better path that gives me a good foundation for longevity and sustainability in my business.

    Originally posted by @James Wise:

     It's business. The goal is to make money. The more money one makes the better they are at running their business. You're kidding yourself if you believe differently. I am guessing you don't actually believe something different either. I am thinking this is some softball "I care more about my clients than the next guy" sales pitch. If you want the most satisfied clients in the industry work for free. They will love you.........................Lame.

  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    6y

    I think principal brokers have a right to run their business like they want.

    People don't think about it much but up to this point we have all lived our lives since birth with various experiences. Some good and some bad. We all have a different filter and way of thinking. Some will have similarities and be closer in thoughts and practices and others will be as wide as the grand canyon.

    While I don't agree with all the opinions I hear and I have talked to thousands of people over the years I can respect their logic and how they came to the conclusion of how they want to live their life. People's definition of success can vary greatly.

    My definition is creating lifelong memories to cherish and leaving a positive mark on the world for future generations to see and learn about to maybe help shape what they want to accomplish in life. I have family first. I cherish my time. My knowledge is reserved for CLIENTS that want to work with me exclusively. Goal is not to achieve the biggest net worth over someone else or grow the largest company. It's to be selective on my clients I want to take on, do a great job for them, and foster lifelong friendship and business relationships. Of course I want to grow my business but do it on my terms where I am happy to get up everyday and work on the business knowing it's the daily plan I want. 

    Luckily since I own my brokerage on the commercial side I do not have to do volume. I can do about 10 deals a year and pull in seven figures. Commercial transactions can be more complex and each transaction can have thousands of pages to review per deal. After you do so many you get a system and a rhythm to it almost like running a marathon. 

    Some of my friends want to own tons of different active businesses for revenue streams. I can't stand all of that. I like high income, smart investments, and SIMPLIFICATION of my life to create more time to live like I want. 

    I could sit on the beach for hours and watch the waves roll in. To another person they would not like that and are more comfortable go, go, going constantly. When my father was killed in a car accident when I was 16 I had to grow up really quick. I worked 2 to 3 jobs sometimes. I am over the go, go, go faze being 45 years old.

    I am more in the relax mode now. Someone wants me to work they have to sign the agreement and become a client. I am not allotting possible time away from family, friends, exercise, religion, looking for more of my own investments, etc. without a commitment in writing.  

  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    6y

    I think principal brokers have a right to run their business like they want.

    People don't think about it much but up to this point we have all lived our lives since birth with various experiences. Some good and some bad. We all have a different filter and way of thinking. Some will have similarities and be closer in thoughts and practices and others will be as wide as the grand canyon.

    While I don't agree with all the opinions I hear and I have talked to thousands of people over the years I can respect their logic and how they came to the conclusion of how they want to live their life. People's definition of success can vary greatly.

    My definition is creating lifelong memories to cherish and leaving a positive mark on the world for future generations to see and learn about to maybe help shape what they want to accomplish in life. I have family first. I cherish my time. My knowledge is reserved for CLIENTS that want to work with me exclusively. Goal is not to achieve the biggest net worth over someone else or grow the largest company. It's to be selective on my clients I want to take on, do a great job for them, and foster lifelong friendship and business relationships. Of course I want to grow my business but do it on my terms where I am happy to get up everyday and work on the business knowing it's the daily plan I want. 

    Luckily since I own my brokerage on the commercial side I do not have to do volume. I can do about 10 deals a year and pull in seven figures. Commercial transactions can be more complex and each transaction can have thousands of pages to review per deal. After you do so many you get a system and a rhythm to it almost like running a marathon. 

    Some of my friends want to own tons of different active businesses for revenue streams. I can't stand all of that. I like high income, smart investments, and SIMPLIFICATION of my life to create more time to live like I want. 

    I could sit on the beach for hours and watch the waves roll in. To another person they would not like that and are more comfortable go, go, going constantly. When my father was killed in a car accident when I was 16 I had to grow up really quick. I worked 2 to 3 jobs sometimes. I am over the go, go, go faze being 45 years old.

    I am more in the relax mode now. Someone wants me to work they have to sign the agreement and become a client. I am not allotting possible time away from family, friends, exercise, religion, looking for more of my own investments, etc. without a commitment in writing.  

  • Investor · IL · Member since 2019 · 151 posts · 135 votes
    6y

    My point goes to the sustainability of the business of "Realtor" as a whole. I can see how experienced investors over time can acquire the knowledge and expertise to become jaded as to the professional abilities of some newer agents. On the other hand if regular Joe pays a broker $6000 to sell his $100000 house, I can see where they might question the value of the work the broker did especially since most of the work is not easily seen, but add to that the difficulty of doing business with someone who won't communicate, or just seems far to busy to be accessible to you, and you are setting up a situation where many don't believe they need such services.  

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    6y
    Originally posted by @Gail W.:

    My point goes to the sustainability of the business of "Realtor" as a whole. I can see how experienced investors over time can acquire the knowledge and expertise to become jaded as to the professional abilities of some newer agents. On the other hand if regular Joe pays a broker $6000 to sell his $100000 house, I can see where they might question the value of the work the broker did especially since most of the work is not easily seen, but add to that the difficulty of doing business with someone who won't communicate, or just seems far to busy to be accessible to you, and you are setting up a situation where many don't believe they need such services.  

     Statistically the market proves the exact opposite. Some 87%+/- of buyers/sellers utilize the services of agents.

  • Investor · IL · Member since 2019 · 151 posts · 135 votes
    6y

    @James 

    @James Wise

    I am not a Realtor or even a Real estate agent. I also am not very experienced at REI. These were just my thoughts and I believe I need to leave this to the Pro's such as yourself. I just don't personally like the Zillow model that seems to be even more distant as far as service is concerned, and I would not like to see that model gain a foothold in this industry.

  • Rental Property Investor · Tucson, AZ · Member since 2019 · 173 posts · 87 votes
    6y

    @Jay Hinrichs

    In reference to how Realtors allow buyers to waste their time and drag them by the nose, what do you think of Ricky Carruths philosophy who is a top producer at 1 million gross commission per year saying show as many properties to buyers as they want, no buyer broker agreements and write low ball offers all the time. That's literally what he has stated in his videos and he's a top producer.

    An anomaly????

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6y
    Originally posted by @Patrick J.:

    @Jay Hinrichs

    In reference to how Realtors allow buyers to waste their time and drag them by the nose, what do you think of Ricky Carruths philosophy who is a top producer at 1 million gross commission per year saying show as many properties to buyers as they want, no buyer broker agreements and write low ball offers all the time. That's literally what he has stated in his videos and he's a top producer.

    An anomaly????

    one thing about being a RE broker your free to transact in any manner you wish.. 45 years of active sales in the business I have never once done a buyers brokers agreement.. Buyers either liked what I did for them or we mutually agreed to part ways.

    Although when I owned my own real estate companies.. And some Guru just came through town and clients are contacting my newer agents telling them about this team they are going to set up and how they are going to buy 20 properties and you need to write 100 contracts for me.. I put the brakes on that one.. And asked the agent to have this big buyer come into the office so I could interview them.. You know how most of those interviews went.. buyers were All HAT no Cattle.. when we got a real one we devised a plan.

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes
    6y
    Originally posted by @Patrick J.:

    @Jay Hinrichs

    In reference to how Realtors allow buyers to waste their time and drag them by the nose, what do you think of Ricky Carruths philosophy who is a top producer at 1 million gross commission per year saying show as many properties to buyers as they want, no buyer broker agreements and write low ball offers all the time. That's literally what he has stated in his videos and he's a top producer.

    An anomaly????

     If you talk to agents bringing in $1M per year in commission I'd imagine most of them are spending very little showing properties to buyers. Typically they are listing properties and have buyers assistance to do the labor intensive grunt work like that. The dollar per house is just too low for it to be a high earning job. It'd be like trying to make $1M per year working as a McDonalds cashier. The amount of O.T. needed to get you there just doesn't exist.

  • Rental Property Investor · West Lafayette, IN · Member since 2012 · 40 posts · 10 votes
    6y

    @Jay Hinrichs

    I’ve had many male customers contact me for a possible showing or a potential listing when they are ready to sell and buy.

    The men are people I’ve known from around my local area. However, I haven’t met their wives.

    They wives always know a friend of a friend or some realtor their parents used years ago and the wife goes with them.

    The wife usually has the final word.

  • High Desert, CA · Member since 2019 · 319 posts · 161 votes
    6y

    Hey yo an MBA over here and a undergrad in Real Estate. I'm a statistic somewhere. lol 

    But I did a post on most realtors suck and I 100% stick to it. 

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