LIFE AS A REAL ESTATE AGENT.
Many people think it is a costly business selling a house and feel paying an Agent a fee for selling the property is over the top when it sells in a few days. Would those sellers prefer we strung it out for about 5 weeks with constant viewings and endless phone calls.
An Agent’s life is not all a bed of roses with thousands of dollars streaming into their account ever week.
Once a week the seller rings the Agent there is a visit to the property to meet the owner.
Following that meeting the Agent will spend a considerable time putting together a portfolio of information for the seller, and identifying houses of a similar age and construction to the sellers, that have sold in the area, and their sale price.
The owner may have asked 3 agents to view the property and all 3 may have to wait a day or more for the owner to decide which agent they will list with.
The Agent may miss out and have worked with no reward whatsoever.
If the Agent is successful in getting the listing the Agent must return to the property and get a listing authorization form from the owner.
They then draw a Marketing Plan up with dates and media outlets that advertising shall appear to attract the would be purchasers.
The Agent must also organise Open Homes and a photographer to visit the property where again the Agent needs to be present.
Open Homes are usually on a weekend and the Agent spends time away from friends and family during these times
When a would be buyer rings the Agent to view, contact has to be made with the owner to confirm a suitable time which is often in the early evening.
An agent can have 3 or 4 or many more viewers before he finds a client wishing to purchase. There is still work to do preparing a Sales and Purchase Agreement and getting it signed by all parties, who sometimes do not live in the area or even in NZ!
Often a day or more can be spent with the seller and the purchaser going back and forth until they reach an agreed price.
Think too, Agents sometimes get day dreamers and they can cause havoc.
I remember one fellow in my days as an Agent telling me he had $400,000 cash to spend on a property. This was when the average house was $130,000 in Auckland.
I was so excited at my luck of such a great buyer and spent 2 days organizing viewing with owners of suitable properties for my buyer to visit.
He eventually found one he liked and put an offer on it. It was all signed up by the Vendor who in turn went out to find a property themselves.
When I asked the buyer for a deposit, he promised to bring it in to the office the next day. When he did not appear, I rang the phone number he had given me, and his mother answered. I explained that I was waiting for her son to come and pay the deposit on the house he had purchased, and her words were
“Oh, no, he hasn’t done that again has he” He has no money but just keeps telling people he has.”
You can only imagine my devastation. Not just because I had lost what I thought was a great sale but for the house owner who thought they sold their property. How could I explain this away, to the owner who was about to buy another on the strength of their sale.
So, along with the hard to sell listings, and the overpriced listings (which many Agents won’t list) life can be a hard row to hoe for an Agent.
Yes, they can earn good dollars but taking everything into account they earn it.
For any questions please write t0 firstname.lastname@example.org
Any homeowner thinking of selling please ring us on 0800 355 655 and we will you our free service to identify for you the most suitable agent to sell your property in your area.
Thanks for reading.