Why work with a full time Realtor?

I just got off the phone with a young man who was looking for information on a listing I have.  When we where done talking I asked him if he was working with a realtor, he said yes.  However his Realtor Is only available on weekends and does not answer his questions until then as he is not a FULL TIME Realtor.  I remember when I bought my first Home and my Realtor was not available most of the times I needed him and or information, later to find out he was working on a side project with auction cars!!!! hum go figure? If your Realtor does not give you the attention you need , you need to find another realtor(if he is busy that's a different subject)  The home buying Process is very important, as a buyer you need to work with full time Realtors.  Realtors that are full time have more time to show you around and work around your schedule and in my experience they are more knowledgeable in all areas since this is what they do full time. So next time you are looking to buy ask your Realtor "do you do this full time?"  and his answer better say yes if not you can be in for a bumpy road in TODAY MARKET!!!!!!
  • March 01 2011 - Tempe
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Answers (41)

I honestly don't think having a full time realtor is just about the agent having time for you. It's also about the experience you get from a full time realtor. A full time agent is experiencing the ever-changing market and focused on the daily procedures of house hunting, making offers, and successfully completing transactions.

If you're able, I recommend going one step further and hiring an agent that not only works full time but also only works with buyers or only with sellers. Now that agent will be focused on your individual needs.

All agents should be getting training in both sides of a transaction thus making them a, "jack of all trades". Wouldn't you want to have a master representing you?
  • March 01 2011
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Wow.

That paragraph is one giant grammatical mess.
  • March 01 2011
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Profile picture for SteadyState
Did the buyer complain to you he/she is unsatisfied with the agent's service or is it your perspective that other agents should follow your footsteps and be more like you?
I regard competent part-timer as a plus - his/her income is not hostage to whether he/she makes this sale and is less likely to be desperate for the sale to close rapidly.
 
  • March 01 2011
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I'm personally agains "part-time real estate" doesn't work, not in this market.

That being said, for those working part-time or just weekends, SHOULD (in a wireless, mobil world) answer their client's questions.
  • March 01 2011
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The buyer told me he had to wait until Saturday to be able to talk to his agent and if he was lucky he had time to go show him...put your self in his shoes and out of your Realtor shoes, how what that make you feel when you are looking for something and you cannot get the answers to make an informed decision?  look at it that was and yes getting an agent that specializes in an area is even better Jennifer thanks for touching that subject.... some get it some dont!!!!
  • March 01 2011
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Profile picture for SteadyState
I still do not see the buyer complain. He is asking you to wait till Saturday - what's the hurry?
  • March 01 2011
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More self serving BS from Hory and Melissa... A quick search of the Arizona data base seems to show Hory as having a license for just over 1 year, and Melissa for just over 3 years... YET they claim 14 years of experience.

Additionally, Hory at least is listed as having his own home foreclosed on maricopa.gov. Is that the type of real estate experience that makes him so experienced? So superior to those worthless part time agents?

Maybe my "other job" as a college math professor gave me a different perspective on buying; See, I haven't been foreclosed on and due to accurately predicting this bubble, I am now buying mutliple homes for cash... But poor me, I'm just a worthless part time agent, what do I know?
  • March 01 2011
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I try not to disclose the number of years experience I have...it makes me seem older than I am...I married into it at the age of 12 *)
  • March 01 2011
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thumbs up Azrob. 

3 years and 1 year experience don't add up to 14 years experience. It's not even 4 years experience. Experience isn't cumulative, they have 1 year and 3 years experience, period.

 
  • March 01 2011
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Part-time or full-time shouldn't make a difference.  Realtors should be there for their clients.  Out of professional courtesy, they should answer calls and e-mails within the same day, always. I think that there is an implied contract with a seller or buyer that you will be there for them as a Realtor. The only exception would be when a Realtor is upfront with their client on their limited reachability.  But, if you were this upfront, you would rarely find clients.
  • March 01 2011
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Profile picture for Blue Nile
Well, considering how many Realtors® have outright lied to the public over the past several years; I think I will take the licensed Real Estate agent that is not a member of NAR instead.  Those full time "NAR members" like the ones searching for clients here have already fully disqualified themselves.

And personally?  I think any agent that is working 83 hours a week just to sell 5 houses a year is being extremely inefficient and ineffective.  There is absolutely no reason to be taking business calls at 1:00 AM no matter what.  Besides, even if the house was broken into, things stolen and the house on fire, the Realtor® will still claim they have absolutely no fiscal liability nor responsibility.
  • March 01 2011
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Profile picture for Schizlor
"focused on the daily procedures of house hunting, making offers"

Yes. A tremendously difficult task to say the least. Culling through online lisitings and looking at pictures, then formulating what you want to offer for that home, and then communicating this to the owner of the home. How you could ever do that on your own is beyond comprehension. Thank God there is someone to point out the obvious for me and parrot my decision to the owner. I couldn't muster the strength for that on my own.

"All agents should be getting training in both sides of a transaction thus making them a, "jack of all trades". "

Wrong. This encourages collusion. Buyer's agents and seller's agents working in concert only encourages the buyer's agent to seek a higher purchase price, because they share in the commission. The compensation for buyer's agents should be fixed, so they don't care what the final sale price is. The seller should be working for commission. That way, the buyer's agent will really be lobbying for the best price (if it doesn't sell, they don't get their fee, but the fee never changes if they do) Otherwise, buyer's agents who look to make very little in commission will under-service the accounts that bring low returns. Thus, you get this situation where the agent doesn't return phone calls and answer questions. They aren't doing that because they have clients looking for much more expensive houses, and they want that commission instead.

This "playing both sides of the aisle" garbage shouldn't be legal, let alone encouranged.
  • March 04 2011
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Profile picture for Schizlor
Why work with a full time Realtor?

You're a masochist?
  • March 04 2011
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Profile picture for Tammy Frye
Would you walk into a courtroom unrepresented?  You're putting yourself out there when you are in the home buying process.  The other side wants what you have, your money.  You want what they have, the house.  Putting two people who are emotionally tangled in that situation together usually blows up.  When you are represented by a professional, full time realtor, they are in your corner, defending your desires, and getting you the best possible scenario for your sale, whether buying or selling.  Emotions are kept in check between buyers and sellers.  We take care of you from writing the offer, through home inspections, appraisal, title issues, and every other thing which comes up in today's world.  I've yet to meet someone who tried it on their own and were satisfied with the outcome.
  • March 04 2011
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Profile picture for Blue Nile
Well Tammy, I think you just answered why I should NOT select a Realtor® but instead consider an experienced licensed Real Estate Agent and BROKER that is NOT a member of NAR.

Besides, how can you even possibly try to compare about 140 hours of training and a 1/2 day test and a few hundred dollars even close to being related to a legal degree, passing the BAR exam, and the fees associated with obtaining and maintaining a license as an attorney and a member of the BAR?

Besides, of course I will walk into the court room multiple times without representation.  For many things, representation is a total waste, and for others, (like small claims court...) it isn't even allowed.

And since you insist on signing an agreement for binding arbitration instead, how does the court room even factor into the decision?

If you really think I need a lawyer for real estate decisions, shouldn't I hire a Real Estate Attorney instead of a member of NAR?
  • March 04 2011
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Profile picture for dacolan
Whether working part-time or full-time, it has absolutely no bearing on the competency of an agent. I doubt there are many full-time agents better qualified or more knowledgeable/savvy than Roberto Ribas.
  • March 04 2011
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Profile picture for Blue Nile
"getting you the best possible scenario" -

Well, if both sides are represented by agents, how is that getting either side the "best" of anything?  All it is getting is a mediocre compromise putting money in the pockets of agents, brokers, possibly a loan officer, and several others involved in the transaction.

Besides, I've never seen an agent completely without emotions, nor have I seen many Realtors® that will not share my emotions and opinions with the agent on the opposite side of any negotiation.

And don't forget, that the HUD 2008 study of FHA financed transactions indicate 16% of all the transactions occurred completely without agent fees of any kind.  So, with FSBO's that use a MLS service and a Lock box access, and provide a commission for a buyer's agent, those transactions without an agent are even a higher percentage.

Just because you never saw it doesn't mean it isn't occurring; it only means you didn't look.
  • March 04 2011
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You could work part time and effectively work more prosperous hours then a full time agent.It's like experience you could have 20 years of one year worth of experience. If you never take the initiative to edgucate yourself. Any agent who can't or doesn't keep in touch with their client or customer is in the wrong business. This business all about keeping in touch. I'm sure we all know a full time real estate agent who isn't exactly what their hours lead you to believe. On the surface full time agents seem like a viable choice but I can show you some part time agents who earn and produce more then most full time agents. Teachers make great part time agents.
  • March 04 2011
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Profile picture for SteadyState
Need to work with a Realtor to ensure ongoing exorbitant commission streams for Realtors.
  • March 04 2011
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Dear SteadyState,

Have you heard why clients pay RE agents a commission, It gives you the right to curse them at dinner parties.

I've been selling RE for 20+ years and the general population has no idea how hard agents work until they work with a good one.  You want an agent that is there for you.  You want an agent that is concerned about you.  You want an agent that knows the market, the area, the local laws, etc., etc.  There are many agents that sell a lot of real estate but they play the numbers game.  They know that they will make more money it they come in contact with 100 people and sell 8 of them a home or list a mess of homes and get some of them sold than working with every client as if they were more important than you, the RE agent.  The law states that we owe a "fiduciary duty" (spelling?) to our clients.  That means the clients interests are of much superior importance to the agent.  We are supposed to take greater care of our clients real estate dealings than we would even our own property.
If you find a good agent that you trust, that knows what they are doing, is smart, and works hard, STICK with them, they can make you rich....  
  • March 04 2011
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Profile picture for SteadyState
Will -

 I also want a Unicorn but they are easier to find than good agents. Agents are not fundamentally bad. However, the system is constructed in such a way that agents RECEIVE NO COMPENSATION unless the sales occur. I advocate a more rational pay-as-you go system that rewards the agents more than their broker and the NAR lobbyists:
1. Visit/show homes ($100 per home or $1000 for up to 20 homes)
2. Develop offers ($1000 up to 3 written offers)
3. Negotiate price ($1000 up to 3 negiotations)
4. Refer inspectors ($1000K)
5. Close process ($1000K).
Such a model will be fair, more open and servers all participants of the market (the buyer pays for his side of the services and the seller pays for his side of the services).

Finally - government interference in the market must stop.

- Elimination of home interest deduction
- Elimination of government backed financing
- Elimination of tax break for $250K/$500K in home profit
- Elimination of  all tax credits

The current system is set up to encourage buying and selling of homes instead of buying and selling responsibly. Then the system will be dictated by market forces and not NAR lobbyists.Then good agents will be easier to find.

  • March 06 2011
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Profile picture for Blue Nile
"they can make you rich....  " -

Oh?  What percentage of your clients over the past 20 years became multi-millionaires from Real Estate excluding all other income?

Does that mean you are claiming to be a Licensed Financial Adviser?  OR should we we file a complaint with the State?

So, does that mean you only represented sellers from 2005 through 2008, and that you advised everyone you ever represented as a Real Estate Agent to sell their properties prior to 2007 to cash out on their imaginary equity before it disappeared?

Does that mean that the only rentals that you sold any of your clients had income that were at least 1.5 times all monthly costs, and had rental incomes of about 5 times the purchase mortgage monthly payments?

Or are you just saying that you are one of those really lousy agents that should be avoided like the plague?

(And don't forget to adjust the net worth of all that "property" for inflation back to the year purchased and don't forget to subtract out all the payments and maintenance and tax costs that went into those properties from other sources).

Or, did you mean that the clients can make the agent very rich?  Rich in what?  NAR propaganda?
  • March 06 2011
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I was hoping someone would have something intelligent to say about the 'they can make you rich' comment.

Sometimes I wish I had an alter ego on Zillow to prick holes in some of the balloons that get floated and let out some of that hot air.

Being an agent. I have to show a measure of restraint - sometimes.
  • March 06 2011
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Profile picture for Bruce Cadden
Again, Really? Why even respond to inane dribble?

(Although Mike and Roberto are pretty freakin' funny)
  • March 07 2011
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Profile picture for Schizlor
Will, you might be right to a point, but regardless of how hard you work, the compensation is out of whack. Homes, particularly nice homes, sell themselves. How hard is it to sell a $1.6M home? Any home that high will impress on it's own. And even if you did put in a tremendous amount of work, I cannot be conviced it was $48,000 worth of work.

There is a home by the beach down here listed for $4M. Nevermind it appraised at $1.8M and the seller is insane, let's just compute the commission on that. If it sells for asking price (which it never will, but some houses sell for this much) that means that the agent of the seller and buyer stand to collect $120,000 EACH at closing. Step back and think about that. There are doctors in emergency rooms who make $120,000 a year, who owe an equal amount in student loans, and who slaved for 8 years in undergrad-med school, and then 3-4 years of residency first (70-80 hour work weeks with 30 hour shifts peppered throughout) And I'm to believe it's possible for an agent to work hard enough selling a $4M home, that this person who could have no post-HS education and took a 6-week course, deserves to make as much in one transaction as a doctor does in an entire year?

steady state is correct. Until the compensation is no longer directly tied to the sale price of the home, agents cannot possibly be expected to work fairly for all buyers/sellers and to seek the best price for their clients.
  • March 07 2011
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Profile picture for kristisar
Ok, so you want to run numbers @ $4 million.. Ill go ahead and do the same for AZ, k? I believe the average home sold in Phoenix right now is approx. $130000. At a 6% commission, that means the seller is paying out $7800... go ahead and split that the 4 ways it will likely be split, and that leaves the Agents (possibly Realtors) with $1950- pre tax, pre expenses, and assuming a 50/50 split with their brokerage. Not exactly the kind of money to write home about. I can't stand the blanket statements about REAs or Realtors making too much, not trusting someone simply because they joined the NAR (essentially a union joined for ETHICS), trusting or not trusting because they have another job, etc... hate to sound all rainbows and butterflies, but how about judging people on their own personal merits? There well may be a part-time Realtor who does such an amazing job for you that you are happy to pay them $120000 commission. And there will be some that don't truly earn the $1950.
  • March 07 2011
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Profile picture for Blue Nile
"simply because they joined the NAR (essentially a union joined for ETHICS)," -

Unless a Realtor® specifically and intentionally distances themselves the hundreds of NAR talking points, they can't possibly be "ethical".  Anyone that has even looked at the talking points knows they are outright "lies".

Have you even read the 17 Articles of the NAR Code of Ethics?  There is nothing in them stating they will be "ethical", or that they will even be truthful or even follow the laws regarding licensing of other disciplines (such as Financial Adviser, or CPA...).  Primarily, they only state they won't steal from another Realtor® and that they won't intentionally cheat their own clients, after they have such clients.  There is nothing stating they won't lie cheat or steal in order to obtain those clients.

And worse, the NAR 2011 Code of Ethics Arbitration manual states 9 times that the primary reason people violate the Code of Ethics is Realtor® ignorance.

So, what would be the point of choosing representation just based on propaganda and the ignorance of the person selected?

Nobody joins that association for "ethics"; they join for only three reasons:
1) Their broker requires it
2) To gain access to MLS membership & Sepra Lock boxes
3) As a marketing gimmick to attract potential clients.

Some claim to also join for the "education", "conference" and "networking" benefits, but those opportunities are not exclusive to NAR.
  • March 07 2011
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Profile picture for kristisar
So your stance really is that all Realtors are lairs- at the minimum by association? How comforting to live in a world of such absolutes.
  • March 07 2011
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Profile picture for klarek the realist
"go ahead and split that the 4 ways it will likely be split"

It's not the fault of the buyer that there is a middle man scraping a cut of the commission.  That's just another piece of the corrupt, criminal RE industry that NAR enforces and lobbies for.
  • March 07 2011
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Profile picture for Blue Nile
"So your stance really is that all Realtors are lairs- at the minimum by association?" -

Obviously someone doesn't bother to read, (as in NAR stands for Not About to Read).

What I stated was that if someone was using the NAR talking points to encourage buying, they are either intentionally lying or badly deceived.

I know many Realtors® that don't repeat the NAR talking points.  But the ethical agents are ethical in spit of NAR, not because of NAR.
  • March 07 2011
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