The Never Ending Real Estate Debate

So true!  Buiolding a relationship of trust is very important todays buyers and sellers want to know that you really care about them and their needs.  Well stated... Thanks for sharing  Diane  www.caronsgre.com

Great post! Thanks for sharing the good information.

You couldn't have said it in a more eloquent manner!  As a list agent I would actually prefer to work with a newer buyer's agent because there is a good shot at them working with only one client and a little more diligent at focusing on getting the home closed.  SO what if I have to spend an extra 5 minutes on the phone with them, at least they answer :)

Caron-thank you for your comment. Trust is a HUGE component of the relationship we build with our clients.  Trying to convince someone to trust you just because you have had your license longer than the next person isn't what our role as a Realtor is. 

Dave-thanks for coming by.  I hope others will realize that denigrating another agent doesn't gain them any credibility in today's market.  It is about our customers and what they think we can do for them TODAY!

Great points made.  All the literature scores high points for "experience" and encourages buyers and sellers to use the more experienced agent.  Are they always the right choice; most often they are.  However, new agents tend to bring a fresh enthusiasm into the industry and some of these people are very sharp.  Buyers and sellers want an agent who will be responsive and look out for their needs whether they are experienced or relatively new.  There is no substitute for service.

Renee-I like your approach to working with a newer agent.  In this market buyers and sellers are looking for agents who can best represent them.  If that agent happens to have years of experience or months of experience doesn't necessarily matter.  It is about meeting the clients needs and showing them how you can do that.

Jon-you are right that experience counts.  I have no argument with that statement.  If a prospective client feels that someone with decades of experience in real esatate is right for them then that is who they should hire.  In our local market I'm finding savvy buyers and sellers who are only concerned about what I'm going to do for them in TODAY'S market and that is where I can differentiate myself from those who may have many more years of experience.

Cindy, I like the quote by the guy that said, "All things being equal people still want to do business with friends, or people they're comfortable with."  And definitely, "What have you done for me lately?"

Cindy:  Very good post.  It's an age old argument, but you are right.  It is up to each of us individually to connect with prospective clients and SELL ourselves.  If we can't do that, perhaps sales isn't the right job for us.

Cindy, nice post.  Gives a new agent much to think about.

But, none of that addresses the "NEW AGENT" bashing that takes place in here almost daily!

I have to wonder where the line is where you cross it and become a veteran and earn the right to bash the "FNA"s?

Don't say it don't happen, I could make a lsit of the "Heavy Hitters" in the rain who bash on a regular basis!

Cindy - Congratulations on the feature.  Your argument is spot on.  At the end of the day, you can either help the buyer or seller or not.  To them it really doesn't matter how many people you have previously helped.   

Good advice as an agent that has been in the business a long time it is difficult to keep up with changing technology but if you don't you will not succeed.

Well shucks.  You know what I think. 

I could write reams about this.  In fact I believe that I will.

This is a post I believe I need to read a few more times & ponder on all the nuggets of truth in.

You are still soooo right, I think things will never change in this aspect

Great post.  You're 1000% right.  We always have to keep improving ourselves, learning, and adding value for our clients.

Cindy, good points. In this market, I hear more and more clients telling me that they want an agent who will answer their phone, text and email messages within 2 hours.

Just wanted to thank you for the information and for the insight

Cindy,

You raised some valid points....I enjoyed your post so much that I decided to reblog it.  Nice job.

Hi Cindy...There have been times I have been disappointed in the lack of professionalism shown by experienced agents (and wondered how they lasted this long in the business) and there have been other times I have been wowed by the thoroughness and knowledge shown by relatively new agents.

It depends on the individual.  That is as true in real estate as in every aspect of our lives.

You picked an important topic and covered it well.

Kate

Excellent way of saying it. Of course everyone has a different fit with a different type of person. I like new buyer agents on my team, I can train them up right, hold their hand until they are ready to really go on their own.

Seems to be about what you know and your service to help the customer more than your years of experience in the business.

WOW!!!

I think you said it all. I don't know if I could add anything else to that.

Great post!!!

There are good, poor, or great agents at all levels of experience.  Some agents who have been licensed 25 years don't know any more than a sharp agent who has been licensed just one year.  Staying current on the market conditions, the lending environment and the ever-changing technology is a continuous learning experience for everyone! 

Cindy,  Very well put, but I newer agent can be on fairly equal terms with an experienced agent if they have the right broker working with them, as the broker should be doing. 

The answer is a no brainer!  Experience trumps all! 

Those are some great points....in the end it really depends on the relationship you have with your client, your follow through and effort...

Experience counts more than ever in this market. Veterans have been here before. Newer agents are only experiencing this market for the first time. As Jim says, it's a no brainer!

Cindy - some agents have 10-20 years experience...some agents have 1 year experience X 10-20 - they basically do not know anymore just because of longevity...they don't grow.

Good post. This ought to start a good discussion stream!

Fill in the blank...

If a buyer doesn't trust you you won't be a good ______________.  You can't be a good president or vice-president, sales person, leader, teacher, plumber, lawyer, the list goes on and on.

Experience is important, but it is note the #1 reason people choose to do business with someone.  It is because the trust them.  Good post.

Cindy:

Impressive arguments for both but I do think it is easier to work with an experienced agent who is responsive. That is the best of both worlds.

you're right... I remember as a new agent just out of training I was surprised at how the seasoned agents didn't know the latest license law changes. I was intimidated by their experience but learned firsthand that experience did not equal proficiency. many 20 year veterans are just first year agents 20 times over because they don't systematize or build on their mistakes.

Charlie-I like the quote as well.  The great thing about real estate is the ability for everyone to learn and to prove themselves.  Experience is important but it isn't something to be lauded over other agents as something that makes you inherently better.

Chris Ann-I don't like to think of myself as a salesman but in reality it is what we do.  I never push a client to make a decision and today when I got back a bank addendum on a foreclosure property I told my clients I didn't think they should move ahead.  Since the time when we submitted the offer and now prices in the same condo building have dropped another 10%.  They were very thankful for my insight and honesty.

Heather-thanks for stopping by, it's a great time to be in real estate!

Very good.  This is a great industry to build a great career

Rich-there is a lot of new agent bashing and I'm not sure why.  Sometimes I wonder if it is a bit of jealousy, that comment should get me in trouble and other times I think it might be because they had a bad experience with a new agent and they just can't let it go.  Either way we all were new agents at some point in time and everyone needs to remember what it was like.

Erik-If it mattered so much to a buyer or seller whether you had 60 years of experience or thousands of transactions under their belt then no one would have listed or sold their first home.  Someone took a chance on them once too.

Terry-technology is a key piece of the real estate puzzle today but in the end it doesn't match old fashion one on one contact.

Lenn-yes I do know what you think and I appreciate you words of wisdom on a variety of subjects.

Jeremy- Hopefully there are a few nuggets to make everyone realize bashing another agent because you don't think they have enough experience to succeed in this market may drive the client you are hoping to attract away.

Hi Chad-I'm hoping that things will change one day soon.  That if we encountering an agent in our office who we don't think is experienced enough that we will take time to answer their questions instead of bashing them over the head with a lack of experience speech.

Jeff-learning never stops no matter what our profession.  In today's real estate market being out and actually working the deals is a great teacher. 

Always champion your customer, and you will have their loyalty. Good post.

Cindy-This is a great topic. I had a realtor who gave me some very sage advice a long time ago. He referred me to his client when I was just starting out as a Stager, and the client grilled me on how many houses I had worked on. I had to admit that the number at the time was low. When I then relayed the conversation to him, he said, "If someone asked me how many houses I had sold, I would tell them that what really matters is what am I going to do to sell YOUR house." Experience certainly counts, but so does a willingness to go above and beyond to meet the needs of the client.

Things have changed so much in this business that the new people are out there getting it done. If you have been in this business 5 years you're probably better of than someone that been in 20 because of the learning curve alone.

Cindy,  I think we can all learn something from each other.  If an agent meets the client's needs then they have done their job.  I think of myself as an "experienced" agent (20 years).  I think there may be a confidence in an old fart like me just because I have lived through this before.  With that said, I live through it before - but this market is different than that market was so no one really knows exactly what to do!  Great post!

I couldn't agree more!  The real estate industry probably didn't change very much in the "last millenium", once the internet was available, it seems like agents can't keep up with all of the new technology and new methods of marketing and communicating with clients.

This is a good way of looking at things and a reminder of what we need to be showing our clients.

Cindy.. Great post..  I have to agree with you on this... It is the clients decsion

Absolutely fascinating subject you bring to light.

This market is like no other and you better have the skills needed to survive and react to the needs of buyers and sellers in this market....

It is obvious to anyone that works any amount of floor duty: Sellers know they can dictate to a young and inexperienced agent price/terms/commission by allowing a newbie to market their McMansion. These same sellers had already traversed the discount service road and dislike all Realtors because they hadn't already sold their overpriced undercompensated home. 

Buyers know they can get away with looking at 20, 30 and more houses before the agent gets wise that they buyers are tire kickers.

It is only a misconception among Realtors that leads them to believe sellers and buyers are more motivated towards experience and service. The consumer does not understand value, therefore the default is to "cheap".

Cindy - I could not agree more - knowing the market and being able to sell yourself as well as your listings is very important!!!

AWESOME POST! Age (or time in the business) is NOT directly proportionate to knowledge of the business! In fact a lot of times it can be a hindrance, due to all of the new technology coming out, and the learning curve possessed by most... older agents.

This is a fantastic article, thank you very much!

Brendan Winans

Just like any other BUSINESS, there are, "The good, the bad, and the ugly". Real Estate is a prime example of achieving whatever you, but the few bad apples give the good a bad name. We were all new at some point, some succeeded, some failed.....great post!

No matter how much time you have in the business what counts is good character. I would rather have someone who stumbled at times, yet they could be trusted versus someone else who had the experience, yet behind it all, where no one sees, they tended towards twisting/bending the rules and mostly were looking out for themselves. Thanks for bringing up the subject. Mike C

Maria-I'm amazed at the number of agents who have messages that say they will call you back at specific times....and then they don't. What does that say about your customer service?

Allen-thank you for stopping by and taking the time to comment.

Kate-I agree that there are excellent agents in both categories.  Lauding your experience over everyone as if it means that you are the best agent to represent them seems more about ego than about reality.  The customer decides who the best agent to represent their interests.

Missy-what is the saying...  different strokes for different folks?  With good training a new agent can be running circles around someone who has been in the business 30 years in no time.

Jon-I was trained by a number of experienced agents who I have a great deal of respect for.  Never once did I hear them say I've been in the business 25 years and completed thousands of transactions.  Instead they were quietly successful and showed it ever day by their actions.

Nelva-thanks for the compliment.  Have a great day.

Vicki-nicely said.  Thank you!

Marc-I do believe that training is the key to turning out successful agents.  It is the agents that listen and put what they learn to work are the ones that will do well in any market.

Jim-hmmm.  Let's say you have been an agent for xx years but in the last year while the market has gone south you have done very little business.  Yet an "inexperienced" agent is selling foreclosures, negotiating with builders and keeping current on newer technologies.  At the end of the year who is the agent that you would call to help you buy a home?  The one that sat at home reading about the housing crisis or the one that was out working it?    I realize that every circumstance is different but I also thing that those who bash newer agents saying their experience alone makes them a better agent are wrong.  Agree to disagree?

Unfortunately the Military community was highly targeted in the past years and real estate. Many of our soldiers and sailors were  lured into loans they could not clearly pay for.

A good example of a solution is a Non-Profit Organziation called Families of American Military (FAM) that bring awareness to quality agents new and old. Families of American Military that is unbiased and actively screening and rating Real estate Agents for the Military and Veteran community. It doesnt matter if you are "New" or " Old" the honest good Agents will always rise above the rest.

Many military and veterans who CAN buy a house dont because their lack of confidence in the industry.

The only way we are going to get out of this mess is by restoring consumer confidence in the industry.

NEW OR OLD  BE AN ETHICAL AGENT.

Sonja-relationships are what makes real estate transactions work.  Not only with our clients but with the agents on the other side of the table as well.

Carol-as I replied to Jim, I'm seeing a lot of experienced agents who have been on the sidelines this year.  Meanwhile some of the newer agents were nimble and corrected their course to be able to jump right in.  I don't think anyone has been through this market before J

Bobby-learning is the key.  You can have 20 years of experience and only be doing business by rote. 

Cecily-It seems to have.  Thanks for joining in

John-Thank you that was very nicely said. 

Kathy-it still may boil down to who is considered experienced.  At the end of 2008 is it the "newer" agent who did a good steady business or is it the experienced agent that sold very little?

Neal-nice analogy, if you aren't doing a decent business in this market then you aren't gaining some incredible experience.

Kay-yes you can build a good career in real estate and 2008 is a great time to prove that you have the understanding of what a down market really means.

 Leigh-you obviously got some great advice!

Happy Street-Our customers are #1.  Yes it is a slogan that is already taken but should be followed by all of us.

Charles-agents of all levels can work hard and succeed.  Those who want to complain about that the newer agents have never worked in a down market need to take a look at 2008.  If they are succeed this year then chances are they are going to succeed in future years.

Audrey-I think you hit the nail on the head.  When you say that this market is different than the slow markets in the 80's and 90's.  This one is on the job training for every agent.  If you aren't out working it then you are missing some interesting times.

Kerry-I used to say I was tech savvy.  But I have to admit that even I'm having a hard time keeping up with all of the options for social media.  My clients are texting me and it is cool!

Cindy, my humble, thirty-odd-years-of-experience comment on your post:
Technology is just a tool and a poor substitute for real estate experience and real estate knowledge.  Newer agents are apprentices with varying degrees of expertise and should have a mentor available at all times to help with what the've not yet learned. (master said to grasshopper)