Cooking and real estate have qualities in common. Sam Sifton, the Food Writer for the New York Times, appeals to so many readers, chefs and non-chefs alike, either because he personalizes his columns and is interested in the entirety of the kitchen: the craftsmanship, the emotional and social benefits of sitting together to eat delicious dishes prepared at home. Reading those columns (every day, if I can), I’m struck by the similarity between what genuine real estate agents do and what they do. they also want deep skills, a strong emotional IQ, and social skills to navigate the challenging terrain of promoting or buying a home.
Last year, Coldwell Banker introduced an advertising crusade highlighting those express problems. Although at the time I had no agreement with the logo (since then, Coldwell Banker bought my company, Warburg Realty), I reacted with gratitude to the crusade, which highlighted an underrecognized fact: a success Genuine real estate agents are highly qualified professionals for whom achieving a high-level position in the cadre requires years of learning, trips, falls and lifts. Real estate brokerage is a career that will need to be mastered for years. of education and skills development.
Real Estate Brokerage Truth TV might have provided audiences with endless hours of entertainment, but it has nothing to do with truth. If only abs, hair gel, and European cuts were enough to warrant $100,000 commission checks being handed out after a few phone calls and an argument or two! Unfortunately, that is exactly what many agents entering the business today think. Reality gives a rude awakening. Brokerage requires a lot of work: learning inventory, learning the law, developing negotiating skills, spotting the pitfalls that await each and every transaction, and managing the expectations of concerned directors. Not to mention a deep understanding of finances, loan suitability and availability, credit history – the list goes on. For top agents, it takes at least five years to have the business “at your fingertips,” familiar enough to have reliable instincts on how to solve problems, reassure buyers and dealers, and deftly move forward on a matter without becoming it. . “aggressive agent” that has become a negative (and sexist) stereotype.
As with most highly professional professions, the fortune rate of residential real estate professionals is low. The vast majority of newly authorized agents are abandoned within a few years (in 2014, the National Association of Realtors published statistics indicating that 87% of agents leave the company within five years of joining). At most, the road to good fortune turns out to be longer and more twisted than expected. Here are some things many new agents don’t expect:
Residential real estate resembles many other careers in that, to put it in biblical terms, many are called but few are chosen. And elected officials reach the most sensible for a reason. They put in years of hard work, examine and investigate their successes and failures, and are committed to each of them as an opportunity for improvement. A smart haircut and shiny white teeth can make truth-viewing agents look wonderful and feel successful. , however, that’s TV. That’s not the truth.