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New breed of part-timers to grow agent ranks

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Real Estate Professional | 01 Apr 2015, 09:23 AM Agree 0
Baby boomers leaving the workforce are re-entering as real estate agents, a career choice set to swell industry numbers with surprisingly committed and aggressive part-timers.
  • Fantastic!! | 01 Apr 2015, 02:02 PM Agree 0
    More Agents! More Agents!!! More Commission Wars!! Agents are becoming like fast food workers and prices will follow all the way down.
    Reality Realtor...
  • Boomer | 01 Apr 2015, 04:34 PM Agree 0
    I am one of those written about in this post but not part time by any means and wish to suggest to Fantasticll that he/she should hope for more of ones like me who sell marketing value and not commission reductions.
    I'm not afraid nor worried to give up a listing because they want someone to sell their property because so and so is offering this commission or that commission. I simple say to those, we are not a match and I leave that audience to others.
    I can and do market my value and my value has done me very well, thank you.
  • Reality | 02 Apr 2015, 09:22 AM Agree 0
    Boomer,

    You don't have a crystal ball and the good advice you may have is not worth more than 1000-2,000. If my accountant ,lawyer,dentist charges 1000-2,000...A relator is not worth anymore. You don't have a crystal ball and the rest is just looking up comparables,tour /taxi service. Please tell me what more do u offer that my accountant ,lawyer,dentist would do in their profeession...they offer tremendous advice,directions ,solutions,answers,fix problems etc...if u use the realtors thinking they too should be making double/triple what a Realtor makes per client!!!!

    More agents!! More Agents!!! More Commission wars!! Realtors invented the sneaky bidding wars....
  • | 02 Apr 2015, 04:52 PM Agree 1
    Reality, sorry you feel that way and sorry you feel compelled to think that one's value is dictated by someone else or someone else's profession. As long as my clients feel that they were served well by me, that is what matters most.
  • EddieN | 05 Apr 2015, 01:31 AM Agree 1
    First, there are part-timers who think they can make a quick buck in real estate. Sure, why not drive a cab full time and sell real estate part time. Aha! Real professional! Wouldn't you want someone like that representing you? Then, as per this article, we have the other breed of part-time agents - the ones who have nothing better to do. They need a reason to get out of the house, and they have fun by going through people's closets and drawers. These people couldn't care less about being professional or looking after their client's needs. They couldn't even care less if they do something inappropriate and lose their license. As long as they don't go to jail, anything goes. When will this industry wake up and truly become professional?! I'm disgusted
  • EddieN | 05 Apr 2015, 01:31 AM Agree 1
    First, there are part-timers who think they can make a quick buck in real estate. Sure, why not drive a cab full time and sell real estate part time. Aha! Real professional! Wouldn't you want someone like that representing you? Then, as per this article, we have the other breed of part-time agents - the ones who have nothing better to do. They need a reason to get out of the house, and they have fun by going through people's closets and drawers. These people couldn't care less about being professional or looking after their client's needs. They couldn't even care less if they do something inappropriate and lose their license. As long as they don't go to jail, anything goes. When will this industry wake up and truly become professional?! I'm disgusted
  • Commission wars | 05 Apr 2015, 03:05 PM Agree 0
    Eddie,

    I would be disgusted too with creating a sneaky bidding war too line ur pockets. I think more agents and we will see less ego ... sneakiness of bidding war practise. I know ur special and one of the best and others need to follow ur ego. My Hero!!

    More Agents more commission wars
  • Robert | 08 Apr 2015, 07:18 AM Agree 1
    It really amazes me how many ignorant people and how much stupidity there is in this world. First the retired baby-boomer that gives the impression selling real estate is a hobby and novelty career. And then the winner who persistently proclaims "more agents, more bidding wars!".....would love to know what this person does for a living. Once a coward always a coward...show your true colours and indulge us on how valuable you are as an employee to some poor shmuck who has hired you with such a bad attitude. That is exactly what selling real estate is about...attitude. Helping someone find the perfect home for them with a reasonable fee attached. And I'm not talking $1,000.00 It would be more lucrative to work part time at McDonald's.
    I'm full time which includes a lot of research on the markets I serve. This homework which includes visiting listings (i.e. my time, my gas) gives me a way better perspective on the market without my clients there so their time is used in a productive way. No it's not rocket science. But it is a lot of UNPAID TIME. We don't just show up at work for 8 hours and get paid....those are people that need security because they don't have a brass set like we do to go out there and take a challenge. This is not about knocking the full time employee who puts in an honest days work. It's about the idiots who challenge the value in our job who don't having a clue on what it takes psychologically, financially and socially to get the job done.

    No, we should not be compared to Lawyers or Doctors...give me a break. My B.A. did not take that long to obtain. 1.5% to list a house plus 2.5% for the buying Agent is not unreasonable. Do the math on costs to run a business like this Mr. Reality or Ms. Fantastic. You are proof that you don't know the business, costs involved and the behind the scenes effort that is put into providing stellar service. And if we charge that amount, we are Agents that can get you more for your house than the discount agent that won't take the time to get you that extra 6 to 8 thousand for your home because they don't really care.

    Because the industry uses the word commission versus salary, it becomes like hunting season for the ignorant. Mr. Reality or Ms. Fantastic, suppose you don't put in a true effort at work for one day because, say you are not feeling well. Or you simply did not perform to your boss's standard. Do you think he should reduce your paycheque at the end of the week? Or are you protected by some union? I suspect you are one of those people that are so cheap in every regard of your life that you whittle people down in price to nothing to feel good about yourself. Good luck to you. It sounds like you left spirituality at the door and worship the almighty dollar more than anything. I dare you to publish on here what you do for a living and where so that we can be patrons at your business. Failing to do so shows the readers your character. Obviously a lot of time on your hands since you continue to show your face on here. Try volunteer work, it builds character.

    The proverbial "common sense is not so common" is alive and well in this country.

    And to the Realtors that put in 150 percent...don't look back. Like any great service, there will always be people out there that recognize they did indeed get value for the dollar. And the others that should buy a front load washing machine and live in the Maytag box it came in because that is the service they deserve for $1,000.00 "commission".
  • Broker Steve | 08 Apr 2015, 12:31 PM Agree 1
    Boomer: when you chat with your lawyer he likely charges you for his time. When you sit in your dentist's chair he'll surely charge for it. When you go to work you get paid for your time too. When you ride in your Realtor's car for 1, 2 or more hours looking at houses it will cost you nothing. When The Realtor leaves you he/she will likely move on to another client or work on trying to find more clients to show properties to. Many as resentful as you seem to be. All this in the hopes of selling a client something. Should he/she fail to do so, at the end of the week or month there's no paycheck. This is so for most commissioned salespeople. Those that do succeed in this highly competitive field have every right to their commission checks. Deal with it or get your dentist or Lawyer to find you a home next time.
  • N.S. REALTOR | 08 Apr 2015, 12:50 PM Agree 1
    I simply don't understand why CREA does not require it's association members to FORCE their membership of REALTORS to disclose to potential clients whether they are part-time or full-time agents. Apparently the public in Canada under CREA -DO NOT- have the right to know the working status of their chosen agent.

    Part-timers charge the same commission fees (on average) as do full-time agents. Certainly 'some' part-time REALTORS would have an acceptable position to sell where their status of being part-time agents would not in any way be detrimental to a proposed client's success ...with regards to the agent's overall focus, availability, experience, performance, etc.

    I personally know several part-timers, and they do NOT put their clients first ... simply because they can't. They take what they can from unsuspecting buyers & sellers (clients who were NOT given the opportunity to make an informed decision when hiring their agent).

    This is the problem as I see it. It's a matter of DISCLOSURE!! We are preached to disclose anything and everything within reason that could possibly affect our client's overall position and experience when working with us ... yet you can still work 48 hours a week (or whatever) in a Government office or a coffee shop and then run around competing with FULL TIME 100% DEDICATED agents for the same business - the public none the wiser.

    Again ... my problem and yes -total confusion- with this aspect of organized real estate in Canada (or at least with CREA members) is not with the existence of part-time agents. Bring them on!! Most of us ARE full-time agents and we dedicate ALL our working hours to this profession. Our families often rely solely on this income. We work hard - only to be cheated in the end in many cases by a Fireman or Chef who wants to sell real estate to supplement their primary income ... or fund their vacations, purchase a summer home, or WHATEVER.

    Those who have chosen a different career as their #1 working obligation should be required to be honest about the fact. DISCLOSE, DISCLOSE, DISCLOSE ... But apparently they still don't have to. The public clearly comes a distant 2nd to the agents full disclosure in this important respect.
  • Robert | 08 Apr 2015, 01:33 PM Agree 1
    N.S. Realtor. You are absolutely right! We are preached to up, down and sideways to DISCLOSE to protect the client/consumer. Yet CREA has not addressed the issue of part time agents.

    It is the chicken and the egg syndrome. Perhaps if there weren't part time agents then business would go to full time agents. But with competition being so fierce it forces dedicated full time agents to come to a fork in the road when they cannot feed their families and must decide to take on another career as well.

    It's pretty easy to monitor. Yearly income tax filing can provide this information to the government.

    I'll reiterate what others have said....CREA and RECO do not seem to have our interest first. Hence the Competition Bureau allowing FSBOs to post on MLS. I say drop CREA, RECO and TREB and start a private organization with "shareholders".

  • ONT Realtor | 09 Apr 2015, 07:52 PM Agree 0
    You are absolutely correct N.S. Realtor. Reality is a loser that gets a guaranteed pay cheque every 2 weeks (plus pension & benefits) no matter how little he actually does at work. Have your lawyer call you for 5 minutes or send you a 2-page fax - you pay for it. Go see the dentist for 15 minutes - you pay for it. You look at 20 houses with me and then don't buy one - it costs you ZERO. I spend actual cash to market your overpriced listing for 6 months and then you take it off the market - it costs you ZERO. People like Reality are morons ignorant of actual reality.
  • John Murphy | 10 Apr 2015, 12:22 PM Agree 0
    Before you decide what a Realtor is worth why don't you try walking a mile in a Realtor's shoes. I will admit that there are some "Realtors" in the industry that do very little to earn their commissions; However, and thankfully they are the exception and not the rule. If a Realtor is doing what his client expects and deserves, he certainly is earning his or her commission. When I work with a Buyer I start with an initial meeting which will generally take anywhere from 1 hour to 2. We determine our course of action based on their expectations. This is when we go over their "wish list" and see if it is realistic within their budget. This meeting is generally where we determine which is more important to them, the location or the property. They may not be able to afford the house they want in a central location but it may fit into their budget very well if they expand their search area. We discuss financing, down payment, insurance, closing costs, inspections, etc to make sure there are no surprizes down the road. Once we know where and what we are looking for I start the process of screening active MLS listings, private listings, etc. to put together a list of possibilities. I will quite often pre-view several properties on behalf of my clients to make sure they are as advertised. We then schedule viewings when it is convenient for the client. (Which isn't always convenient for us) However, if we are serious about our business, our clients always come first. When we find a property that my client wants to Offer on it is my job to prepare an Agreement that spells out my clients wishes and protects them until we are prepared to declare the Agreement Firm and Binding. During the next week or two we are tasked with going through our due diligence which will include a building inspection (which we attend) These generally take 2-2.5 hours but I have seen them go over 5 hours. Water tests, septic testing, etc. We communicate with our client's lawyer and banker to see that everything goes as smoothly as possible. When a problem is uncovered during an inspection we have to be certain we have left our client protected so that we are able to renegotiate or in some cases terminate an Agreement without recourse. When we start to work with a Buyer we have no idea how long it will take or if they will even end up buying at all. If we are lucky, we are working with two or three Buyers at a time and each one deserves our full attention.Not every day is a pay day. In stating this, given a choice, I would work with Buyer clients exclusively as it is a lot simpler to work with a Buyer than a Seller. I decided very early in my career to be a Full Service Realtor. As I have stated in this publication before, I can't speak for all Real Estate Sales people or Brokers but I do not apologize for one penny of what I have earned in the Real Estate Industry. I also have never had one client complain about what I earn for my work during their Purchase or Sale, which is approaching 1,000 transactions.
  • | 14 Apr 2015, 11:05 AM Agree 0
    Well said !!
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