It’s a great career that allows you to work from home, schedule your time and make lots and lots of money. Some of this is true but, some of it is not—we’ll get into all this.
Our favorite is the people who decide to get their license but keep their day job because, number 1 they just want to make extra money and number 2 they don’t want to give up their income until they have “made it”.
One thing we have learned over the years is when you want to do something—jump in and do it. How do you work on your business if you are working all day? Being a realtor®/agent requires hard work. It is not about showing homes and then sitting back and collecting a pay check. In fact, showing homes is the fun part and we probably do that once or twice a week. Of course, if you are working all week you will have to show homes nights and weekends. That could mean you have to go out twice as often because you only have 1 or 2 hours during the week days. In today’s market houses are going quickly. Some won’t wait until you get off work. For instance, Diana and I just listed a house and in less than 12 hours we had a full price offer. This is not the first time this has happened. As a matter of fact, my daughter was looking for a house and I did not represent her because I could not get to Atlanta fast enough to sell her something in the area she was looking. I was not going to be the cause of her missing out on buying her dream home.
If you are a buyer or a seller, do you want a part time agent? Do you want to wait until your agent gets off work? For some people, this could work just fine because they work all day too. They might want to go look at homes in the evenings or on weekends. Full time agents do not have nights and weekends off. They don’t have week days off either. So, let us tell you what we do all week, each night and on weekends. This is to benefit anyone thinking to become a realtor® or someone looking for a realtor®.
In order to stay in business and keep the paychecks coming, we have to prospect. That means we are constantly looking for new business. We could be calling friends, family, past clients or even cold calling, asking for business. In addition, we could be knocking on doors, networking, or entertaining. We are constantly marketing ourselves to let anyone and everyone know we are looking for work. This also includes making marketing material, mailing things out, and emailing. This takes up about 70% of our time.
If we are working with a buyer, we are constantly searching for their home. Often the buyer will send us homes from Zillow or Trulia and we have to search for them—only to find they were long ago sold. Once the buyer has decided on homes to view, we have to schedule them. That’s right, we can’t just walk in and show. We need to verify they are still available and make sure we have permission to show. Just because it is vacant and there is a lockbox on the house does not give us permission to enter the premises.
If we are working with a seller, we begin by doing Comparative Market Analysis’ and gathering information to price it right. In addition, we have lots of paperwork to complete and sign. Pictures to take, signs to put up and marketing material to make. All this then has to be entered into the multiple listing server before it goes live. Once it is active, we answer all calls from agents scheduling. We show our sellers home to buyers who call us directly and we show our sellers home to buyers who have an agent who cannot show. We give weekly reports to our seller to let them know all we are doing and all the activity on their home.
Then there are the negotiations to contracts. We have to make sure our client, whether buyer or seller, meets all deadlines and adheres to all timelines and agreements. We have to follow up with lenders and closing attorneys as well as our client.
We attend inspections, the walk through and closings. If all goes well, we close and then we get paid. Sometimes, we go through this and at the last minute something goes wrong and there is no closing and we don’t make a dime. We just start over.
Can you get all this done with your nights and weekends? How many times will you—the part time agent—have to tell your client, I can’t, I have to work? Or will you count on the co-op agent to do your job for you? Will you miss a deadline because you were at your full-time job?
Will your buyers lose earnest money because you were working and couldn’t get your part-time job done? Will your buyers miss out on their dream home because you couldn’t take them out because you had to work? Will your sellers miss out because there was a buyer who had a part-time agent who could not show because they were working, and you couldn’t show because you were working?
As a buyer or seller, do you want someone who can’t give you 100%?
If you choose to get your license, please jump in and do it. It isn’t easy but it can be rewarding and there is some fun.
#usearealtor® #bearealtor® #MaryandDianadoitbest!