Thursday, August 12, 2010

"Who Will Buy?"

I don't know how anyone is actually a successful realtor these days.  I mean, seriously, what with the crummy housing market, less than steady economic picture, and the uncertainty of the mortgage and banking industry, is there anyone out there "Who Will Buy?"  And if they do buy  (or lease), will they actually use a realtor to help them?  Not in our experience!

A few years ago the Big Guy went to realtor school for months, passed the exam, got his license, paid all the myriad fees (including all of the ANNUAL ones)  and hooked up with a broker and was all prepared and ready to help people find their dream house!
In light of all the obstacles listed above, lack of buyers is not the biggest problem with being a realtor who actually is paid for the work done.  No, the biggest problem is the potential "client" who will contact a realtor about buying, selling, or leasing a property.  The agent will then get all sorts of valuable information, find possible properties, take the client to see those properties, find other properties, keep in touch for as long as it takes, work with other agents, prepare forms and paperwork, and receive and make lots of phone calls, and field lots of requests for more information.  In other words the realtor will work his butt off trying to find the client exactly the home he/she wants.  And then, poof, the client disappears, stops returning phone calls, and ultimately wastes the realtor's time completely.   No client, no sale, no lease, no commission, no income, no joke!!!

I suppose that this is a bit overstated but it happens more often than you would believe!   People seem to think nothing of requesting all sorts of help from realtors and then leaves them hanging.  Do people not understand that real estate is the realtor's BUSINESS?  Do they not know that all that time that the realtor spends trying to help a client is UNPAID WORK unless a sale is made?  Are they willing to work at their own job without pay???  Why do they expect it of realtors???

It takes HOURS and HOURS to look up property information, print out comparisons, pricing information, trade phone calls, and try to match clients to their dream home.  Hours that result in nothing for the realtor who puts it all together. 

I understand that frequently it is difficult to find exactly the right home.  I also know that the realtor will continue to do his best to find that home for as long as the client is willing! 

But it is with the general understanding that when the deal is closed, the realtor is entitled by law, to be paid a percentage of the purchase price.  This is only fair.  This is the realtor's job.  This is what they do to earn a living (or at least supplement their income).  They don't do it just out of the goodness of their hearts!
They are people who have lives and needs just like everyone else. 

It is MORALLY WRONG to take advantage of all this "free" work that realtors do and then negotiate your own deal or work through another agent to actually make the deal....just walking away and leaving the orginal realtor who had done so much for the client, high and dry and uncompensated. 

Real estate law is very structured and realtors have no other option for how to work with clients and certainly, no way to guarantee any compensation for the preliminary and upfront work done.  A realtor doesn't get a dime unless and until the deal is closed!  Not one! 

This is a personal rant, because it happened again this week with TWO different clients.  I am not the realtor.  I don't represent the Realtor community.  I don't represent the Big Guy.   I am NOT speaking for anyone else.  I am willing to consider the other side of the story.  Nevertheless, in good faith, Mikey works very hard to help folks and yet, it frequently ends up being a big waste of his time.  That is just not right!

It makes me so darned mad!  Arrrgghhh!


  1. I am not sure they can legally do this...I would be angry too.

  2. Being married to a realtor, I appreciate your comments. So many times a client will want a drastic reduction in commission because they don't think Ed does anything but put an ad in the paper and wait for a buyer to come along. However, if you add up all the hours he spends on a property, or with a buyer, and divide the commission by that number, his income is much less than many other professionals. And that doesn't include all the operational expenses.

    That being said, real estate is pretty good this year. Lots of good deals in California and people are finally becoming a bit more willing to buy that house before prices go up. And they are starting to inch up again.

    And THAT being said, Ed and I can't wait until he can retire and tell the whole real estate world - Bite me!!

  3. I never realized that that happens but it's got to be disappointing. I find that people want something for nothing in my work as a stylist as well, people think you just shop all the time when it's more complicated than that. Please tell him to keep his chin up, hopefully it will get better!


Thanks so much for leaving a comment. It's really nice knowing what you think!! Besides, comments keep me from feeling like I'm here all by myself!! :)

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