Question Details

Donald Mituz…, Real Estate Pro in Kaatonah, NY

What qualifies an agent as an experience professional?

Asked by Donald Mituzas, Kaatonah, NY Wed Feb 6, 2013

At what point do you think an agent would be considered an experienced professional? How many transactions? Years of experience etc? Are designation worth anything more then generating income for NAR?

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Three things must be known.
1. Market segment of experience.
A horse ranch expert may be of little use regarding that 55+ waterfront condo.
The horse ranch and celebrity homes specialist is unlikely to rack up a large annual transaction count.

2. Saddle time.
If you've been in the business over five years, it is unlikely the next buyer/seller will be a OJT opportunity.

3. Transaction count
If you are not doing transactions, you are not doing business.
IF you are not doing transactions the pool of resources is shallow.
If you are not doing transactions, your 'go to' team is likely out of business also.
You simply can not be without resources if you are doing a respectable number of transactions.
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Clearly I favor INDIVIDUAL transaction counts. As we all know, the real estate industry has created a effective smoke screen regarding this measure with the proliferation of the team. Ten part timers feeding the 'Team Lead' makes the lead look like a super star.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
2 votes Thank Flag Link Wed Feb 6, 2013
Education and training are important, but experience - ie, learning from doing - is the best training of all.
1 vote Thank Flag Link Thu Feb 7, 2013
When the agent acquire education above what is required for licensing. Engaged in a variety of transaction within their specialty (residential or commercial) And is able to function on his or her own without the need for help.
Since most agents bring other skills to real estate as well as different level of education, becoming an experienced professional will vary.
1 vote Thank Flag Link Wed Feb 6, 2013
Practice makes perfect. That is usually the way it works for most professions.

Love the business, eat, breathe, live real estate; in good times and bad times. If you do, then you know exactly what I mean.

REO procedures I learned the hard way. I was doing short sales back in 2002, I haven't learned anything relevant with all the courses I have been required/forced to take in the past 3-4 years. Designations are earning a "few" some very serious $$$$, have you done the math? I have.

My name is Yanoska Diaz and I am an experienced professional.
1 vote Thank Flag Link Wed Feb 6, 2013
In my opinion, what qualifies an agent as an experienced professional is knowledge. The thing that I learned when I was a very young agent with absolutely no clients is to know the inventory in your farm inside out, know the comps, and truly be able to explain the process to a prospective client. This is something I emphasize to new licensees as an imperative first step to being seen as a professional. If you are at an open house and a buyer asks you about x,y,z property down the street , you need to know exactly which home they are referring to. If you don't have the answer, you are dead in the water before you have even begun to swim.

Certainly years of experience counts, but there are a lot of long time agents who I would never want representing me. Education counts. I am always wanting to learn more whether it be through obtaining a license or working with an industry leading mentor. When I became a broker vs. being just a licensed agent, I learned so much valuable information to add to my existing knowledge.

Clients need to ask: "Do they really care about you or are there dollar signs in their eyes". I would rather have a rookie who really loved the business, answered my calls whenever I had a question, and got their hands dirty vs. a veteran who I meet once, their assistance handle everything, and I am just a transaction. I am a very relationship oriented broker. To me, that is a professional.

I think designations and endorsements can be falsified or bought half the time. Someone with a top ranking on the internet usually just spent a lot of money to be there. At the end of the day, sit with an agent, take 30 minutes to talk with them, see how versed they are in all the items mentioned above. That will tell you what you need to know.
1 vote Thank Flag Link Wed Feb 6, 2013
Designations are not really understood by buyers or sellers so they just make for more cluttered business cards. xExperience comes from doing and from understanding. There are agents who do alot of transaction but do not do them quite right. To be Experienced is a comprehensive outlook of being able to assist that buyer or seller through all aspects of the transaction properly. it may take less transactions for some and others may never get it. Instead of designations i loke continuing education to be up on new laws, mortgages and trends.
1 vote Thank Flag Link Wed Feb 6, 2013
Don, I know about the dreaded Federal Pacific boxes! :). I love hearing the inspector say "if you Google the company you'll be scared out of your mind". I feel that if you aren't doing transcations and active in the field all the great stuff you learned in school will slip away...

Chris
0 votes Thank Flag Link Fri Feb 8, 2013
Thanks for the BA Don,
We all in the business of knowing and telling the story of our communities, one sale at a time.

Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL,
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Fri Feb 8, 2013
There have been a lot of answers that say either education or experience. I think Annette said it best and broke it down to what an experienced agent is. You can have all the education you want in real estate, but it won't tell you when there might be code violations on a house, if the neighborhood has been having problems with wells, septics or whatever. It certainly won't help you with making an offer and getting your client the best price and terms. Yes, some will learn faster in the field than others, but if you're not out in the field and closing transactions than in my opinion you're not getting experience. I see many agents with all sorts of designations and they don't have a clue. I think it has to do with having closed at least 5 transactions per year for at least 5 years, MINIMUM. It's having knowledge of the marketplace, neighborhoods, negotiation skills and mortgage options as well as having a good basic knowledge of construction and site characteristics. Anyone know what a Federal Pacific electric panel is? How much do you know about synthetic stucco? Can you get a USDA 100% mortgage on a house with low PMI? I'm not saying you have to be a master of mortgages or construction, but I think an experienced professional had a good working knowledge of all these things.

Don
0 votes Thank Flag Link Fri Feb 8, 2013
Quite agree with the answers below. Experience, repeated referrals, knowledge of the inventory & marketplace & being hands on through the entire experience whether leasing, buying or selling
0 votes Thank Flag Link Thu Feb 7, 2013
Success is the best indication of experience of all.
0 votes Thank Flag Link Thu Feb 7, 2013
It only takes a few transactions for an agent to have more experience than 90% of the clients out there. I learned a lot from my designation coursework; I suppose some people don't.
0 votes Thank Flag Link Wed Feb 6, 2013
Education is the key to an experienced professional.
Researching what is best for the client, knowledge of what is going on in the market place and meeting the clients needs.
0 votes Thank Flag Link Wed Feb 6, 2013
Dear Donald,

When a Realtor undertakes to gain knowledge in their field, it benefits the industry (in general) the client, by way of superior service, and the agent by way of broader knowledge base. A professional is a person who is paid to undertake a specialized set of tasks (Real Estate) and to complete them for a fee.
Many people in the field were professionals in other areas before becoming Agents which only adds to their value.
0 votes Thank Flag Link Wed Feb 6, 2013
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