This is NOT your Momma's Real Estate Business

By
Real Estate Broker/Owner with Bear River Valley Realty

Current Economic Times have some considering Real Estate as their new Career.

After interviewing a prospective agent this week, I was reminded about all of the changes that have happened in the Real Estate Business over the past decade.  The unemployed workforce is out seeking all new avenues of income and curiously enough many still think Real Estate is easy money. Hah!!! The guy who came for a visit described how he had learned a lot from his mother who used to be in the business approx 12 yrs ago.  Floor time, walk-ins, call-ins, "if you build it, they will come" thought processes.

This Is Not Your Momma's Real Estate Business!

Five ways the business has changed since your Momma was in the biz....old lady

  1. Floor time is not the free for all it once was.  Customers are rarely dropping by the office for your list of homes.  Agents do not control all of the information now.
  2. Agents must target and touch their own customers now whether through websites or social media. 
  3. Real Estate has become consumer centric and customers will likely know something about the agent and the properties before they will invite themselves to contact you.
  4. They have to like you before they will trust you to assist them with the most important financial decision of their life.
  5. Agents must absolutely know everything about financing and keep on top of the changes because the rules are still changing.

 

So Mr. Newly Minted License....you will not show up on your day off from your other job and expect to score customers with little to no effort.  Those days are HISTORY....

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Kathy Fuhriman

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. John McCormack 02/18/2013 07:18 AM
Tags:
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Rainmaker
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Liz Lockhart
Riverbend Realty, Cape Girardeau, MO - Cape Girardeau, MO
GRI, Cape Girardeau Real Estate

Yes, YES, YES, Kathy! And I might add that your Momma may have been able to do it part-time or to dabble in it, but a real estate career takes dedication and real knowledge nowadays.

Jan 18, 2011 11:08 PM #1
Rainer
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Phil Hillerman
Crye-Leike Realtors® - Rogers, AR
Crye-Leike Realtors®

Good Morning Kathy, Real estes is a changing business.  What is working today may not work as well tomorrow.  We are always looking for that new edge to get us to the next transaction.  Have a great day!

Oct 10, 2011 11:58 AM #2
Rainmaker
450,908
Kathy Stoltman
Rockwood Realty - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Great post Kathy, I think this business needs a great threshold to get into than is currently in place, it requires a lot more of money, time, education and experience or mentoring than most people realize.

Sep 18, 2012 09:21 AM #3
Rainmaker
190,487
Larry Atkins
State Wide Realty Co. - Farmville, VA

This are some great points Kathy! I agree we have to adapt our methods to our clients needs. 

Feb 18, 2013 07:22 AM #4
Rainer
131,506
Mountain Coastal Group -San Diego Neighborhood Experts from Beaches to the Mountains
www.WhereToBuyInSanDiego.com 619.316.7445 - La Mesa, CA
Mountain Coastal San Diego Neighborhood Experts

Great post Kathy! And of course great advise to the newcommers to the industry, Real Estate is rewarding, but not at all what most people expect.

Feb 18, 2013 08:29 AM #5
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Margaret Rome, Baltimore Maryland
HomeRome Realty - Baltimore, MD
Sell Your Home With Margaret Rome

Kathy, What a great title. I think we are going to see a lot of newly licenced agents in the next year. Very few will stay.

Apr 22, 2013 03:07 AM #6
Rainmaker
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Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Kathy. You are so right, nothing much is the same as it was a number of years ago, especially in the area of technology.

Make it a great week!

Feb 11, 2014 07:40 AM #7
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Rainer
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Kathy Fuhriman

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