25 truths every real estate agent lives

We all know that the real estate industry is made up of more than just agents and brokers, but no one can deny that it’s the agents who build the closest bonds with consumers.

Here are 25 realities agents have to deal with every day — and the rest of the industry should try to fully grasp them.

1. It’s about the seller right now

Marketing a home for sale is about pleasing the seller. In today’s strong seller’s market, finding a buyer isn’t much of a challenge (in most cases). This dynamic can change at anytime, and when it does, agents will focus on “wooing” homebuyers.

2. Buyers know when homes hit the market

Homebuyers usually don’t have any trouble knowing when a home hits the market. Many use apps with alerts and some even use real estate agents to help with that. Others notify their agent that they found a home they would like to see.

3. Dealing with disclosure vs. transparency

Real estate agents are required to disclose, which isn’t the same thing as “transparency.” When dealing with private property for sale, “transparency” isn’t a thing — but disclosure is and it is legally required.Reinvent your brokerage’s brandEasily transform agents into powerful brand ambassadors READ MORE

4. Recommending neighborhoods is a no-no

Real estate agents cannot recommend a neighborhood. Recommending a school or school district is a gray area. Personally, I am not qualified to help someone decide how or where their child should be educated. The 120 hours of education I needed to get my licenses really don’t qualify me to do that.

5. A real estate license doesn’t automatically improve your skills

Having a real estate license does not improve photography, marketing or writing skills.

6. High sales volume doesn’t make agents the best

The agents who make the most money and the companies with the highest sales volume and the biggest teams in the real estate space are not always the best. Some agents are good at making money, but so was Al Capone.

7. Consumers don’t understand the broker

Buyers and sellers do not understand broker reciprocity.

8. Clients don’t know you pay for their access to portal sites

Consumers do not understand that real estate agents are paying for the portal sites that homebuyers and sellers use for free.

9. The company doesn’t sell real estate

Real estate companies rarely add value to the transaction, and they don’t sell real estate. Consumers are not aware of this.

10. Agents work under the broker’s license

Consumers do not know or understand that real estate agents must work under a real estate broker’s license and that it is the broker who is responsible for contracts with consumers.

11. Agents are independent contractors

Consumers do not understand that most real estate agents are independent contractors who pay for marketing and other expenses out of their own pockets and only get paid after the successful closing of a home sale.

12. Brands don’t always matter

Buyers do not choose a home based upon the logo on the for sale sign in front.

13. They who list it rarely sell it

Consumers are unaware that the person and company that lists a home for sale is rarely the person or company that actually sells the home.

14. We must be wary of new products

Every year, there are worthless products and services introduced to the real estate space by people who can get venture capital but do not understand the industry or the end user.

15. Involving more women is helpful

Most products for real estate salespeople could be improved upon by having women involved in the process.

16. Income facts to surprise you

According to the Bureau of Labor Statistics (BLS), the median pay for real estate agents in 2017 was $45,990. In that same year, the median income for Realtors was $39,800.

17. Realtor is not a job title

Realtor is the title given to members of the National Association of Realtors (NAR). There are Realtors who are not in sales.

18. Age ain’t nothing but a number

According to NAR, the “typical” Realtor is a 54-year-old woman, and the median age of first-time homebuyers is 32 years of age. There is no evidence that homebuyers prefer to work with people their own age.

19. Response time is everything

Real estate clients do not complain about real estate technology. They do complain about not having their inquiries responded to quickly — or at all.

20. Marketing experts aren’t always right

Marketing experts sometimes recommend strategies that are illegal or in violation of Fair Housing laws or dangerous to the agent or that are useless or stupid.

21. Social media followers don’t equal sales

Social media doesn’t sell houses. There doesn’t appear to be any data that confirms that having more social media followers translates into more sales or more business.

22. Local real estate can call for local tech

Real estate is local and so are some of the business practices. That means tech solutions invented on the west coast might be useless in other parts of the country.

23. Open houses are for lead gen

The purpose of an open house is for the real estate agent to get leads. Everyone knows one person who saw an open house, fell in love with it and bought it, which is a good thing because homesellers sometimes believe (or need to be convinced) that open houses sell houses.

24. Homeownership is getting harder to achieve

In spite of all the money and talent that has been thrown at the real estate industry, homeownership continues to decline and lack of affordable housing is becoming more of an issue.

25. NAR is not a democracy

Members do not have a say in how the organization is run.

This list could be much longer, but if you made it this far, you probably already know that. If you sell, speak or write to the industry, you might want to consider talking to real estate agents or even spending some time with them.

Having a few homebuying and selling experiences just isn’t enough to give anyone a clear picture of what an agent’s job is like.