Friday, February 5, 2010

Full-time Realtors Vs. Part-time Realtors

I just read a great article about "Part-time Realtors Equals Full-time Problems". I thought I would jot down some of my thoughts about the article and my personal opinions. Here are some interesting statistics:

Only 27% of Realtors surveyed by 56 local Realtor Associations listed Real Estate as their primary source of income (this illustrates problems we have.)

That means that 73% – nearly 3 out of 4! – Realtors are making their primary income from a source OTHER than real estate.

Real estate is – as much if not more so – the most “around the clock/nearly 24-7/always on” business there is.

How can people be out of touch and out of pocket for any period of time and serve their clients properly? The obvious answer to that question: they can’t.

When someone calls on your property is there going to be someone there to answer? Think so? Go ahead and try it. In fact you should be calling your Realtor at least once a day to see if anyone answers. You should also have a friend call about your house and see how long it takes to get a return call. When you are trying to sell your house do you think the buyer or buyer’s Realtor is going to sit around waiting for your Realtor to call back?

A Realtor should be focused on selling your home, not shopping at Steinmart. You have every right to ask the Realtor if they are part-time or full time. Would you hire a part time surgeon?

If a Realtor says they can work part time and fulfill your needs for your real estate transactions, then ask them why they need a second job? If they are successful at what they are doing then they wouldn’t need to be selling furniture at Mathis Brothers. We all know why someone needs a second job. It means that their primary source of revenue is not sufficient to pay the bills. If they need a second job to pay the bills at home where do you think your home falls in the priority line?

Why would you use a part time Realtor help you with one of your largest financial assets? The purchase or sale of your home.

Don’t let the sale of your home or the purchase of your home be a lottery ticket for a sub par Realtor!

As mentioned above, if they have to work a second or third job and did not disclose it to you it was because they did not want you to know. Why didn’t they want you to know? There’s only one reason. It means they are not successful. If they are not successful, then what is their priority. Does a call from a client take precedence over shopping at Penn Square Mall?

That’s one of the HUGE problems. They say they are taking a “second” job when in reality they have just taken a “first” or primary position and guess whose home selling or home buying process has been rendered secondary in importance?

Would you hire a Realtor because he/she is your friend/family member OR because they are a full-time professional?

I bet when you spoke to the Realtor that you hired that they said they had this great marketing program. They were going to put your house in the MLS, put out a yard sign and then run an ad in the Daily Oklahoman. Wow! They just spent around $75.00 to market your house! If your Realtor is working another job trying to make ends meet, how are they going to pay for REAL MARKETING on your home?

If the Realtor you hired can’t afford to educate themselves on the latest technologies or can’t afford either the money or time to further their continuing training, then you will be dealing with an Realtor who is not capable of servicing your needs in the most proficient manner.

Do you realize that less than 3% of all agents have a website or blog and that fewer still have any idea as to how to utilize the computer in a manner that is advantageous to you as a buyer or seller?

So that is my opinion on using part time Realtors vs. full time Realtors. Of course, if you are a buyer, the commission is paid by the listing broker, so why would you not want to use the Realtor who will be there to give you the best service you can get! If you are a seller looking to sell your home in a challenging real estate market, and if you are going to pay a commission, don’t you want to make sure you are getting the best service for your money that you can?

Remember, you will always get what you pay for!

I would be very curious to hear everyone’s opinion – whether you agree with me or not.

Wyatt Poindexter

Keller Williams Realty