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Agents could leave industry in droves

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Real Estate Professional | 15 Jun 2016, 08:15 AM Agree 0
The moment of truth is soon approaching, according to one veteran agent, who thinks many agents may soon leave the industry
  • Scott Simmons | 15 Jun 2016, 11:57 AM Agree 0
    Our area in BC went through a 5 year down cycle and most agents looked at ways of cutting cost. Things like print advertising and brokers fees were cut. Most of the stronger agents stuck around waiting for the market to turn. The one thing it did was it stopped any new ones from starting up this has left the remaining agents a little grayer but wiser and more humble. Most have not forgotten about the long dry spell we had and that is why so many are going to turn against the Real Estate board and vote against them in the upcoming vote on amalgamation. Even in the good years we have to look at cutting our op cost and being prepared for the next down cycle. One has to be able to weather the storms in this industry if one want make it a career.

    I do feel for all in the down cycle areas. Personally I spent my time working on my web site, podcast and 700 odd youtube videos which are now paying dividends. The market will come back everything is cyclical look at the down market as the best buying opportunity time in the last 20 years.

    Cheers Scott on booming Salt Spring Island.
  • Miles Godlonton | 15 Jun 2016, 12:05 PM Agree 0
    i respectfully disagree, agents leaving in droves??? NOT LIKELY, its called "purging", it happened in the mid 70's again in the early 80's for those of you who remember 21% mortgage rates, and i am here to tell you, the realtors that made it thru those times turned out to be some of the best realtors our industry has ever seen, bare none! Tough times is a way of separating to good from the mediocre.
    it creates opportunity, but saying the sky is falling gets more headlines.
    the headlines should read "Opportunity has never been better". it's just like to the old saying "when people are buying SELL, when they are selling BUY", now is the time to "excel in real estate sales". Or another old saying "is the glass half empty or half full"? Take it from an "old dog".
    Miles Godlonton
    Licensed January 1976
  • Bruce Pollon | 15 Jun 2016, 04:48 PM Agree 0
    Thanks Miles!
    I agree with you. With the cycles, there is always change in agent numbers. Tough times do separate those can see opportunities from those who can't. We are in a service oriented business.
    Licensed since March 1979.
  • Get a New Pitch | 16 Jun 2016, 11:35 AM Agree 0
    Old dogs. Old men. Old women. Matters not. A good realtor isn't defined by the number of years he/she 'stuck it out'. A good realtor is a good person. Not all old dogs or old realtors are good people. More comments and more smoke and mirrors from realtors. Another sales pitch from these old men and women (realtors) that manipulate the public by saying they have 30 years in the industry. It's the main angle realtors use to grow their business. It's a marketing pitch. Brand new realtors/new entrepreneurs are just as good. (heck, if not better)
  • Scott Simmons | 17 Jun 2016, 09:40 AM Agree 0
    I disagree with you "Get a new pitch" in this business experience counts. Especially if an agent works one area for a career. For instance in our area there are 5000 homes over the last decade I have been in most of the homes and walked most of the lots. If I have not been in the home chances are I know someone on the block and know about the development, who built it, who developed it, who owned the land before the development. I have all the plot plans, soil maps, geology map, building schemes, council notes and make them available to my clients usually before we get to the home/lot. New agents would not have the years it has taken to squire this stuff away.

    New agents are like loose cannons I have seen them list old gas stations and not even know they were gas stations way way back, sell for less than market value, offer their buyers no perspective of the area because they do not know the area.

    A little wisdom goes a long way when someone is plunking down half a million or more for a home. There are so many different types of deals that one has to have 3 or 4 years experience before one should be let to work on their own. I was lucky and had a super broker who walked me through the first 4 years. Without his day to day guidance I do not think I would have made it through the hundreds of different types of deals as an example today I have a 16 page contract ready to go to signing. 4 of the pages are schedule A for the bank because it's a court ordered sale and guess what I found a mistake in it and had to make a correction. The title for this deal is 6 pages with about 30 charges on title and to top it off it's a strata. I could not imagine a rookie doing this deal and getting it all ready for the judge. FYI one missing initial will get the contact thrown out of court.

    There is a lot more to it that just hammering in a sign on a lawn. If it was so easy everyone would be doing it. Cheers Scott on Sunny Salt Spring Island actually I'm just heading to Victoria on the ferry to take a legal course at the board.
  • Judy | 20 Jun 2016, 03:28 PM Agree 0
    Agents leaving in droves? Perhaps.....Why? Let me see...paid by commission only, no pensions, no benefits, rising costs (particularly from our boards and franchises), pressure to have the latest technology and respond within minutes to every inquiry day or night 7 days a week, with little to no loyalty from the public.
    The news programs our franchisor sponsors treats us like we are all crooks. Our boards/associations allow multiple persons (usually with only one license) to do realtors' work under one name which is unfair. Broker/owners who tell us we are all too old and keep downloading additional costs and administration onto us.....The Feds expect us to catch the terrorists and money-launderers when they and all their professional services can't....Oh yeah, and I must find the perfect house for $50K under value!!!!
    My Super-Hero cape is in tatters! How's yours?
  • Garry Hedberg | 28 Jun 2016, 07:53 AM Agree 0
    With that attitude, it's probably time to quit. In my opinion it's the best job in the world. You're in business for yourself, yet you don't have to carry any inventory. The sellers hold the inventory. In reality your monthly costs are minimal. What you earn is up to you. You are in charge of your life. If not, it's time for a change.
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