Question Details

Carlos  Herr…, Real Estate Pro in Orlando, FL

What do you find are the biggest frustrations that you, as real estate professional have been dealing with in today's market?

Asked by Carlos Herrera, Orlando, FL Sun Dec 18, 2011

I talk with many agents throughout different areas of the nation as often as I can. Training other agents provides an interesting perspective at how well all see things a bit differently. You could be new or a seasoned agent or broker. What frustrates you about the business? What keeps you up at night?

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BEST ANSWER
Hi, what frustrates me the most is how differently so mnay agents conduct business, especially when it comes to the laws we are all supposed to abide by. I find myself doing the work of the other agent at times and I think there should be alot more training before an agent takes on a listing or buyer out of the gate. I also find that many agents who have been in the business awhile tend to feel they don't have to do things by the book.

Chris
2 votes Thank Flag Link Mon Dec 19, 2011
Carlos,

In our market, there seems to be agents that have had success with REO listings but don’t have the skills to work in a normal market. Success in selling real estate is more than just being an order taker from a bank. The simple practice of returning phone calls appears to be forgotten. We need to get back to the basics and learn the skills of selling real estate.

Thanks,
Carol Perdew
Prudential California Realty
(209) 239-7979
Carol@PerdewHomes.com
http://www.CentralValleyHomes.com
DRE 985176
2 votes Thank Flag Link Mon Dec 19, 2011
If I'm not mistaken, a cheeseburger can get a license after a 7-day crash course and some luck on the exam. So, in most cases, the cause of the frustrations are well within our own "profession".
Web Reference: http://www.321property.com
2 votes Thank Flag Link Mon Dec 19, 2011
Carlos,

There are a few but the one that comes to mind at this point is the seemingly abundance of poor leadership. Let's begin with the MLS. Poor photography, misinformation, property descriptions that appear to be describing another home, missing data, etc. etc.

It's one thing that some agents are allowed to get by doing this but it's another that brokers and managers are not taking the time to screen this information effectively. One would only think that if properly reviewed this type of repreentation would never become public.

Unfortunately, this is not only a reflection of the agent and their brokerage but the entire industry as well.

Thank you for this thought provoking post.

Bill
2 votes Thank Flag Link Mon Dec 19, 2011
By the way, I gave you all a thumbs up for taking the time to answer Carlos' question.
1 vote Thank Flag Link Mon Dec 19, 2011
Knowing the rules. Have proper expectations.
If you are participating a purchase of a commercial property, don't expect a weekend response.
If you are involved in a short sale purchase, condition your buyer...and wait along with everyone else.
If you have listed a short sale don't leave the most critical step to chance.
If you are involved with your buyer in an reo purchase, advise your buyer correctly, do-overs are not profitable.
If you are involved in traditional transactions, know your strategy regarding financing and appraisal on both sides.

it is when we attempt to impose one set of rules onto an inappropriate group while expecting the wrong set of responses that frustration grows.

The intricacies of real estate today involves so much which is beyond the control of the real estate agent and adding inappropriate expectation to invalid circumstances will clearly lead to frustration.

What keeps me up at night? A cheese burger with a "Ask me about the market" name badge!
1 vote Thank Flag Link Mon Dec 19, 2011
Carlos,
Interesting question. Lack of communication from my colleagues, usually on short sales. I understand weeks can go by with no news from a lender, but if the listing agent doesn't communicate that they are attempting, we never know if they are. I feel worse for my buyer's who, despite my education of the process get frustrated waiting for any news.
1 vote Thank Flag Link Mon Dec 19, 2011
Short Sales, Short Sales, Short Sales!!! The banks just don't make it easy to navigate and they are frustrating regardless of who you represent in the transaction.
1 vote Thank Flag Link Sun Dec 18, 2011
Agents that whine. "This business is so hard..." "Why don't agents call me back?" "Sellers are so hard to deal with..."
Whiners need to grow a pair or wear a muzzle.

Dammit, now I'm whining....
0 votes Thank Flag Link Tue Jun 12, 2012
What frustrates me the most is that not all agents are created equally and those that are "less so" give us all a bad name. It is not enough to be able to earn a license...we must all be held to the highest standard of practice.
0 votes Thank Flag Link Mon Jun 11, 2012
Great points you've all made! I pretty much agree with everyone of you. I chose Chris' answer as the best only because he summed it up.

I believe that those of us that are brokers need to lead and train our agents with the thought that they will be working with your mom or close family member.

Lots has changed since many of us became brokers or agents and we MUST continue changing and evolving with the laws and technology.

New agents around you cannot fall trap to a lazy or disgruntled agent or broker. This will only cause the rest of us to work that much harder when we never may have done anything wrong to begin with.

Whether you're the competitive type or not, understand that our reputations WILL be affected by the general perception of agents and brokers overall.
Stay motivated & Stay Positive guys and girls!
0 votes Thank Flag Link Sun Jun 10, 2012
Homes are selling too fast right now. I had one go pending this week just before my client was about to put in an offer.
0 votes Thank Flag Link Mon Dec 19, 2011
I'm going to take a somewhat different tack. In over 30 years of being full time in the farm and country property business, I have seen changes and some definite trends. We do not do much co-broking or dealing with MLS, so I miss out on many of those frustrations (and rewards). But everything just gets a little harder to do each year. One more form to fill out, one more thing to be wary of. Sellers who are not as scrupulously honest as ones were when I started (and I am NOT calling today's sellers dishonest!), buyers who expect more, who (sometimes) are less friendly, who know less and less about what to do and how to do it after the purchase. I work with fewer buyers today to make a sale, but spend far more time on the deal after the contract is signed. And then there are certain lawyers... oops, best not say much about them. Interestingly, some attorneys have echoed to me what I am saying here, so it's just not us agents and brokers who see these same changes.

I too would like to see a little loyalty. No matter how good service you give, I have learned not to expect loyalty and to be thankful when I see it. I let a family live rent-free in a home I owned for 8 months while we worked on a difficult deal, only to see them buy something else from someone else, then list it a few years later with a third firm.

Still, it's my career and I am not about to switch from something I do love.
0 votes Thank Flag Link Mon Dec 19, 2011
Hi Carlos,

I second Bill's answer!

Barbara Grandolfo
0 votes Thank Flag Link Mon Dec 19, 2011
I completely ditto Christopher Page's comments. It has been my experience that agents are released on the public too clueless, but the flip side is that some long time agents don't understand the legal shifts that have happened in real estate and really do insane things. All my requests to commit mortgage fraud have come from 20+ year agents that don't get those things are illegal now. To sum it up...a lack of good training.
0 votes Thank Flag Link Mon Dec 19, 2011
Buyers find listings easily online, so they don't necessarily understand the value of an agent. Similarly, they don't necessarily take loyalty seriously. We don't have a buyer agency form in NYC, so buyers do not understand that when you are taking time and effort to give them terrific service, loyalty is expected.

As for what keeps me up at night - my husband's snoring!
0 votes Thank Flag Link Mon Dec 19, 2011
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