Realtor in Dallas?

[Rakin]

Every agent has a hundred stories, some sad, most funny and many very rewarding.

You need good people skills, good business experience and the drive for hard work and running your own business. It can be extremely rewarding as far as the feeling when you help someone buy their 1st home or their dream home. It can also be a pain in the rear.

If you don't mind working 6-7 days a week, a schedule that is determined by your clients and answering your phone at all hours it can be a great career. It can be hard to do if you've got kids at home.

Most importantly, get hooked up with a reputable broker that provides good training. Be prepared to take 2-4 years to build your business at the minimum.

I have always been self employed and being a RE agent gives me the ability to continue this after the sale of my other business.

[Lakewooder]

Speaking of health insurance, do most agents go through the group stuff offered by TREC?

[Ã…dvenio_Nobis]

Originally Posted by Lakewooder

Speaking of health insurance, do most agents go through the group stuff offered by TREC?

This is a mixed bag. Some agents have insurance they've carried over from previous employment. Others are on the spouse's policy. Some are retired military with full benefits. Many shop around and buy their own policy or hook up with the a group plan offered by their board.

A sad reality... too many real estate agents that I know are part of those 41M uninsured we always hear about. Many self-employed people and small businessmen are under-insured or not insured. Risky. But a fact.

[Rakin]

My wife & I are a team so we have to buy our insurance on the open market. She had some health issues 2 years ago and we now have to spend about $1000 a month for insurance. I even carry a $5k deductible.

[Taranis17]

I have some input from a customer's standpoint that might be food for thought. I've had good agents and I've just recently had my first bad one. I'll try to explain the difference between the two without calling out the bad one too much.

1. Make each client feel like they're number one on your priority list. Answer emails and phone calls at 10:30 p.m. Call them with information even when you don't have any. Learn about them and what they like and don't like. If they want a house with a pool, learn about pools and what it takes to own one. If they're selling, be honest about the condition their house needs to be in to get the sale done quickly, even if it's not what they want to hear. Be there with the information to answer the questions your clients ask about the process.

2. Be the leader for first-timers, and help them make sense of all the paperwork, contracts, inspections and costs. Be up-front and completely honest and forthcoming, even when the news is bad. Talk to them frankly and honestly about loans and what's best for them based on their income.

3. When you clients request information or schedules for showings, inspections, etc, be prompt with the answer. Don't leave them hanging and speculating on what their answer could be. It's very easy for that to breed fear and stress when an agent doesn't return voicemails or emails after 10-12 hours. To make a long story very short, I fired my agent because after asking in three separate emails over two days about inspection repair status and when we were going to do the final walk-through inspection, she finally answered her voicemail to tell me she was too busy with showings one day and only "might" be able to be there the second day for the final walk-through, when it was 3 days before closing! I had to call the seller directly to get the information. (Granted, the buyer's agent can't call the seller directly - it's a serious breach of ethics to do so. However, she could've called her broker and had him call the seller's broker to get the information). She still made her money, but guess who isn't getting a repeat customer? More importantly, think about what I'll be telling friends, family and co-workers..."not recommended".

Repeat customers are what will keep you in business over the long-haul. Personal references are also a big help in getting new business. Once a buyer or seller learns how you operate, you'll either have a lifetime client or you'll end up with a tarnished reputation, and in Real Estate, reputation is everything.... "OK" agents don't get my repeat business, but exemplary ones ALWAYS do. In my own case, I've begged my agent in WA state to move to Texas, because he is very, very good. I've bought and sold my last two houses with him, and he exemplifies the three points I made above.

I'm sorry if I come across as lecturing, and if I were a lesser man I'd have an axe to grind on here about my Dallas agent. I'm not going to do that though, but I will say that I've spent a lot of time thinking about the differences between my agent here and in WA state. I can identify with pinpoint accuracy what I'll be looking for in an agent should I ever sell or buy here again.

[Rakin]

Repeat customers are what will keep you in business over the long-haul. Personal references are also a big help in getting new business. Once a buyer or seller learns how you operate, you'll either have a lifetime client or you'll end up with a tarnished reputation, and in Real Estate, reputation is everything.... "OK" agents don't get my repeat business, but exemplary ones ALWAYS do. In my own case, I've begged my agent in WA state to move to Texas, because he is very, very good. I've bought and sold my last two houses with him, and he exemplifies the three points I made above.

This is a great point & one of the reasons it can take 4-5 years to really build your business. What you want to become is such a knowledgeable & reputable agent that your clients are coming back to you for a 2nd & 3rd time and sending their friends your way.

You've got to develop expertise in new & old homes, builders, contracts, advertising and the whole concept of running your own successful business.

Most importantly, you've got to work for your clients best interest and not for a paycheck. Take care of your client and the money will come your way.

[ufcrules1]

Rakin,
Is your wife Nsumner? If so, she has impressed me with her knowledge and I will be using her to buy my house when we move there this fall.

[Rakin]

Originally Posted by ufcrules1

Rakin,
Is your wife Nsumner? If so, she has impressed me with her knowledge and I will be using her to buy my house when we move there this fall.

Nope, but she does seem to know her stuff well. I'm sure she will take good care of you.

[Ã…dvenio_Nobis]

Originally Posted by Taranis17

I have some input from a customer's standpoint that might be food for thought. I've had good agents and I've just recently had my first bad one. I'll try to explain the difference between the two without calling out the bad one too much.

You've listed some extremely good points Taranis! Thanks for the input from the 'consumer' POV.

Realtors are like any other professional... some good, some great, some not-so-good, and some downright awful. And I've had experiences where someone who has been doing a bang-up job for years suddenly starts underperforming. I used to refer many of my clients to an outstanding lender. One fall I started getting complaints that he was unresponsive, not answering his phone, and basically not doing the job. I had a little chat with him and he seemed disinterested and aloof. So I dropped him from my list of preferred lenders. About six months later I heard that he'd gone through a nasty divorce. But he never again asked for or received any of my business.

I've 'fired' other professionals in my life... including doctors and attorneys. There is no profession that is immune from quacks, crooks, or incompetents. Unfortunate.

One good suggestion for anyone working with a new real estate agent, or any other professional, is to be very upfront at the beginning about your expectations for service. In fact it's a good idea in to set up a 'trial period' during which you can get to know each other and discover whether you're a good match. Most agents understand this and will not be the least bit offended. Of course, that works a little easier with buyer's agents than on the listing side. All the more reason to interview several agents before listing and get recent referrals.

This works both ways, by the way. I've occasionally had to fire clients who won't hold up their end of the deal. If I make an appointment, I expect the client to show up. Or at least call as soon as possible with some plausible reason for canceling.

[ufcrules1]

"One good suggestion for anyone working with a new real estate agent, or any other professional, is to be very upfront at the beginning about your expectations for service"

That is a very inteligent statement. I agree 100%. The majority of people out there do not do this though.