When interviewing brokers and sellers to find a buyer, investor, or tenant to sell, rent, or lease your home or commercial properties, what process and probing questions do you ask?
Ask yourself if they are part time or full time? More than half of the 2 million agents in the United States have jobs and do their real estate work part-time. Some 1.4 million are considered real estate agents, for example, which means that they are paying members of their local multiple listing services association, who are allowed to use the real estate agent logo in all of their cases. advertisements because it is part of their investment in their business and career.
There are approximately 600,000 licensed brokers who are not part of their local MLS; therefore, they are not considered real estate agents and cannot use the logo in advertising. Remember that someone’s home is usually the most valuable asset you will own in your lifetime and you will always want to hire the most knowledgeable, expert, credible, and direct broker. possible.
I always say, if you had a business and ran it like one, why would you want or need a job that would never pay you what a smart and savvy real estate agent makes in business? There are exceptions to the first idea, for example, if you had a pensionable job, a job in the public service, and you were halfway through your career, you are not going to give up to make money. real estate, unless it is part-time, which is generally the case; or if you are the president / CEO of a company and earn well above the salary range and average earnings of a blue collar or even most white collar workers, again you are not quitting your job. job.
But once you retire, those CEOs and presidents, vice presidents, directors, etc. white collar professionals are perfect candidates because of their training and knowledge to make the transition to an amazing industry to enjoy the fun that I have and continue to experience and can have while making money very seriously.
The knowledge of a qualified real estate agent is not only based on his knowledge of the street and his regular interactions and relationships with clients selling, investors, owners, buyers, tenants and tenants of residential and commercial properties. What is more critical and crucial are the electives required as well as the challenging and exciting electives leading to specific designations that they have been able to achieve over the years. A seasoned broker and / or salesperson should have at least their GRI designation and potentially their CIPS designation, as these comprehensive courses offer considerable insight into making deals, negotiations, financing strategies, trades, as well as an extremely important facet in today’s global business world: the specific and varied cultural customs of different segments and population groups of the world.
For example, shaking a woman’s hand or even patting her on the shoulder in some cultures is taboo and unacceptable, while kissing both cheeks of a man may be the usual method of saying hello or goodbye in a woman’s house. other cultures. Not knowing the multitude of customary traditions, ethnic behaviors and rituals and acceptable social attributes can cause a lot of financial hardship not only for sellers, investors and buyers, and tenants, but equally important for agents. real estate companies that lack the knowledge and expertise to deal with all of these situations. .
It is financially painful when we lose sales simply because of “not knowing what to do”. Worst of all is when the incomplete training of a broker and / or salesperson can and does cause problems affecting their licenses, as 68 brokers and agents have had their licenses revoked due to “piloting”. In 2020 after a three-year survey conducted by Newsday via video and audio recordings. This raised a red flag and the NYS State Department stepped in and conducted its own investigation based on reports from Newsday’s international brokers directing buyers away from certain neighborhoods. However, I am sure many are appealing their situation as it is their lifeblood and their career to earn a living.
Ignoring basic common sense, up-to-date laws and discriminatory practices is no excuse for not doing the right thing. There are far too many who wait until the last minute to stay on top of their continuing education and the 22.5 credits required every two years to renew their licenses. All of a sudden, there is a rush to meet their deadlines, when one should be attending classes regularly, which would allow them to learn, absorb and retain more information and knowledge. This makes them more qualified, allowing them to be more profitable and ultimately be able to deliver greater value to their customers.
So hire an experienced, qualified and knowledgeable broker, no matter the size of their office, instead of hanging on to a company’s name and all its advertising, smoke and mirrors, telling their size and amount. and the number of transactions they make. Historically, based on my past and current experiences and my day-to-day dealings with brokers and sellers, only 10 percent of all agents make a living, which provides them with a lifestyle worthy of being called an entrepreneur and man of business. successful business.
Philip A. Raices is the owner / broker of Turn Key Real Estate at 3 Grace Ave Suite 180 in Great Neck. He has 40 years of experience in the real estate industry and has graduated from the Realtor Institute (GRI) and Certified International Property Specialist (CIPS). For a “FREE” 15-minute consultation, an analysis of your home’s value, or to answer your questions or concerns, he can be reached by cell: (516) 647-4289 or by email: [email protected] or by post (regular mail) him with your ideas or suggestions on future columns with your name, email and mobile number and he will call you back or send you an email again.