Is Your Agent a Homeowner?

By
Real Estate Broker with Fab Real Estate

I've always wondered how people can enter the real estate business, help people buy and sell homes, but have never bought or sold their own home.  I call them the "renter-real-estate-agents."

Can a renter be a good real estate agent? Perhaps.  But if they're not a homeowner themselves, they lack the true experience and knowledge of homeownership as a whole.  They lack the first-hand experience of all that homeownership entails - maintenance, property tax issues, tax deductions, the emotional attachments, and so on.

Most importantly, a renter-real-estate-agent has never experienced, personally, for themselves what it is truly like to be a home buyer and a home seller.  They don't have that up-close-and-personal knowledge that can only be gained by personal experience of the stresses involved in buying their home.  And, they don't have that up-close-and-personal knowledge that can only be gained by personal experience of the stresses involved in selling their home, either.

Buying and selling a home is an amazing, wonderful, stress-filled, anxiety-laden, expensive, (did I mention stress-filled?) and life-changing experience.  An agent who has been through it all themselves can understand, explain and prepare their clients for what to expect, thus lessening the stress.  They can better prepare a buyer for the home inspection, give personal examples of how to handle maintenance issues of homes, and share names of contractors they themselves have used.  They can share their personal war stories with sellers who quickly grow tired of keeping their home in model-condition and of having strangers traipse through their home.

It's important for real estate agents and their clients to connect on many levels, otherwise the relationship just won't work.  Working with an agent who has been through it all themselves should be a top priority on who a client chooses to have represent them.

And, yes, I have bought and sold several personal residences.  I've learned more each time, and it makes me not only more compassionate towards my clients, but it also makes me a better and smarter agent.

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Topic:
Home Selling
Location:
Connecticut Fairfield County
Tags:
connecticut
ct
sellers
buyers
first time buyers

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Rainer
41,868
John Klassen
M & T Bank
Same is true for loan officers. Until you go through the process personally, you may not have the right perspective to help others. To sell America you should certainly have owned some of it.
January 01, 2007 01:01 PM
Rainer
2,679
Sandy Cuckler
HER Real Living

Funny, sure touched on something here!  Great to see that there are so many views

I became a REALTOR because of my experience in buying and selling a home.  I bought my first home when I was 26 and I wanted to make sure no one had to feel like I did when I went through it.  I knew I could make a differrence.

While I can comment on the posts about the importance of being a REALTOR and a homeowner, the biggest key is the client. 

 A cancer doctor empathizes with the patient and the family, a REALTOR empathizes with the client.  How your communicate and educate and represent your client is what matters.  The bond you have with your client is just that a bond. You are the expert- can you know the ins and outs of a transaction solely by your education? Or is it more knowledge because you have personally gone through it?  Seems the biggest thing here would be you "feel" the experience because you have been there before as opposed to being experienced in it by prior transactions.  What does that mean to the client?  The difference in saying to a client 'I did that when I bought my home'  as opposed to explaining 'this is what happens'.  Is that more for your benefit, or the clients?

Food for thought here, not saying I agree or disagree that a licensee should have purchased a home before or that it impacts the transaction- just pointing out that a good agent is a good agent because of the bond and representation they provide to a client.

Perceptions is 99% of the rule, how does the cleient perceive an agent?  What do they expect? Does it just solidify the relationship when an agent can say ' I know how you feel I've been there  before'? 

I believe our profession is one of great pride, and it's hard when you hear those horror stories of transactions gone crazy.  For those agents who believe in what they do and take it seriously, we need to express that to clients.  For agents who are in this business for the wrong reasons, or do not take it seriously..............well, stop and think about how and what that means to consumers. It's about the consumer. 

January 01, 2007 01:20 PM
Rainer
2,679
Sandy Cuckler
HER Real Living

Funny, sure touched on something here!  Great to see that there are so many views

I became a REALTOR because of my experience in buying and selling a home.  I bought my first home when I was 26 and I wanted to make sure no one had to feel like I did when I went through it.  I knew I could make a differrence.

While I can comment on the posts about the importance of being a REALTOR and a homeowner, the biggest key is the client. 

 A cancer doctor empathizes with the patient and the family, a REALTOR empathizes with the client.  How your communicate and educate and represent your client is what matters.  The bond you have with your client is just that a bond. You are the expert- can you know the ins and outs of a transaction solely by your education? Or is it more knowledge because you have personally gone through it?  Seems the biggest thing here would be you "feel" the experience because you have been there before as opposed to being experienced in it by prior transactions.  What does that mean to the client?  The difference in saying to a client 'I did that when I bought my home'  as opposed to explaining 'this is what happens'.  Is that more for your benefit, or the clients?

Food for thought here, not saying I agree or disagree that a licensee should have purchased a home before or that it impacts the transaction- just pointing out that a good agent is a good agent because of the bond and representation they provide to a client.

Perceptions is 99% of the rule, how does the cleient perceive an agent?  What do they expect? Does it just solidify the relationship when an agent can say ' I know how you feel I've been there  before'? 

I believe our profession is one of great pride, and it's hard when you hear those horror stories of transactions gone crazy.  For those agents who believe in what they do and take it seriously, we need to express that to clients.  For agents who are in this business for the wrong reasons, or do not take it seriously..............well, stop and think about how and what that means to consumers. It's about the consumer. 

January 01, 2007 01:21 PM
Rainmaker
302,226
Don Fabrizio-Garcia
Owner/Broker/Trainer - Fab Real Estate
Fab Real Estate
John - you're absolutely right - the same goes for mortgage brokers as for REALTORS.  Thanks for highlighting that point.
January 01, 2007 03:04 PM
Rainmaker
302,226
Don Fabrizio-Garcia
Owner/Broker/Trainer - Fab Real Estate
Fab Real Estate

Sandy - thanks for your comments.  They caused me to think - enough that I had to read your words a couple of times. But, I must disagree with you that "Perception is 99% of the rule..."  A client may perceive their listing agent was great, but what if that agent actually left thousands of dollars on the table?  Did that agent represent their client well?  I don't think so.

You question whether an agent being a homeowner benefits the client or the agent.  Well, think of this - what sounds better?  "Well, I was taught in my 60 hours of pre-licensing training that your mortgage interest paid is tax deductible"  or "When I file my taxes, all my mortgage interest that I pay each year is a tax deduction.  You need to maintain a copy of your closing statement to give to your tax preparer so you won't miss out on this great tax savings.  Or, better yet, speak to your tax preparer now to find out exactly what tax benefits you may obtain."  Neither one benefits me at all.  But the latter statement definitely benefits my clients. 

January 01, 2007 03:20 PM
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Rainmaker
302,226

Don Fabrizio-Garcia

Owner/Broker/Trainer - Fab Real Estate
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