by Michele Gillis
Staff Writer
Read closely, dear young readers. You may just learn something to help you along in your next 30 years.
You’re going to meet - and hear from - Realtors who want to share their thoughts over the past 30 years.
It has been an interesting ride for them and don’t think the problems have been limited to today’s market. There have been interest rates beyond anything you can now imagine, real estate booms and more than one spell of bad years.
Yet, they have prevailed, stayed the course and continue to succeed.
“I started in real estate in January 1970 and have seen every market from a sellers market, a buyers market, no market, high interest rates with lots of creative financing, boom market to today’s market,” said Beverly Garvin of Watson Realty. “Each phase has had its challenges and good points. Associates that have made this their career have learned to adjust and remember it is all about helping people, doing the basics that we learned when we first came into the business.”
The real estate market is cyclical, but people aren’t. No matter what the market is like, you have to be focused on the customer and treat them like you would like to be treated.
“Our business is like a moving target,” said Sally Suslak of Traditions Realty. “No two deals are the same and no buyers and sellers are alike. A $5 million buyer and a $500 renter should be treated with the same professionalism and respect. It’s all about them and their needs. They are the reason we are in business.”
Half the battle is won by just showing up at work, says Selby Kaiser of The Legends of Real Estate.
“I know that that sounds strange, but I have too often seen people ‘try’ the real estate profession because there are no ‘set hours’,” said Kaiser. “By the IRS Independent Contractor rules, a broker cannot require an agent to work any particular hours, it all should be independent. That one mindset is the one that takes people out of the business in a hurry because they never get in the habit of going to work. Our informal company motto is ‘Get up, dress up and show up.’”
One thing for sure: no matter how great or bad the real estate market is, it will not last forever.
“We have to realize that and plan for the hard times when the market is booming,” said Jeanell Wilson of All South Realty.
Russell Grooms of Watson Realty said this bizarre market we are in has proven that real estate is more of a marathon than a sprint.
“We should sell homes promising security for the family’s investment, but not quick gains,” said Grooms. “Our consultation should include that equity in their home should not be used as a ‘piggy bank’ to borrow from via refinancing when they get a little equity and want a new boat or vacation.”
Thirty years ago, Realtors were still getting their Multiple Listing Service information in a packet in the mail. Today, they are a click away from all the information they need on their cell phone or PDA.
“Computers and cell phones have been major influences on how we conduct business today,” said Kaiser. “We are no longer cut off from the world when out showing property. We can change course rapidly from our cars if need be. Organizational and prospecting activities are much easier now than in the days of MLS books and large cumbersome daily planners.”
Suslak agreed that the technological changes have been most helpful. She said the fax machine, cell phones and email in about that order have been very helpful to her career.
“None of these were commonly used when I entered the business in 1977,” said Suslak. “Technology is advancing at the speed of light.”
Technology may have changed a lot of the ways Realtors exchange information and work with fellow Realtors, but the basics are still needed to make the deal.
“People still like to be treated with respect and have confidence that their Realtor knows their business and will handle their business by putting the buyer and sellers interest ahead of their own,” said Garvin. “My favorite book is ‘Raving Fans’ and I try to remember that in order for me to have raving fans, I need to treat them as such.”
Jenet Cattar of Cattar Realty had a few words of advice for those new to the real estate industry.
“Work smart, examine your motives, do what is always right for the customer,” said Cattar. “Treat other Realtors well and it will be rewarded! Also, always be professional.”
Going back to basics is the key to surviving any real estate market. You have to work and do what you need to do to create business.
“New agents need to be versed in short sales, foreclosures, first-time home buyer programs and have computer skills,” said Garvin. “If new associates apply themselves and make it in this market, they will be successful in any market and find real estate an exciting and fun career.”
Realtors can learn from each other. New agents should get to know their fellow associates and find out what they did when they first started in real estate to grow their business.
“If a new agent tries to do what a successful agent is doing now, they will not build their business on a firm foundation of ‘doing the basics,’” said Kaiser. “The basic activities of ‘business building’ are the things that you return to when the market slows down. These include open houses, calling past customers, getting more education and learning new skills.”
Grooms said that new agents must educate themselves about the current market if they want to succeed.
“Learn how to navigate short sales and bank owned sales while not basing your success on that business,” said Grooms. “One third of the homes in America have no mortgage and many others have sufficient equity to be able to have successful transactions.
“Learn different forms of creative financing including owner financing with balloon payments to help both buyers and sellers get through these tough times. Many associates didn’t have the advantage of learning the basics of our profession because the market was so hot and mortgage loans were available with little need to qualify. Brokers need to go back to teaching both the basics and going the extra mile for our clients and customers.”
Realtors who are in for the long haul need to be flexible and roll with the market.
Kaiser said this business has many influencing factors that we have no control over including interest rates, stock markets and weather, to name a few.
“I entered the real estate profession when conventional interest rates were 18 percent,” said Kaiser. “I had no frame of reference for anything lower than that, so I learned to sell using Adjustable Rate Mortgages.
“If a roadblock appears along the way, look for a way around it because sometimes very good things are to be found on these detours.
“Above all, keep a positive attitude at all times. Surround yourself with positive, happy people who keep you looking forward to coming to work every day. Birds of a feather do flock together and keep each other on the right course toward success.”