Wednesday, August 11, 2010

Why an educated agent is better than a licensed one...

It amazes me how agents will get their license and then do the minimal requirements for ongoing education. A great example is a guy that I work with in the office. He has never once taken ANY classes over the past 8 months. BTW, he has been in RE for 8 months.

Here are his stats;

1) Fudged his way to several closings

2) Lost 3 clients due to the fact that he did not get a "buyers rep agreement". One of them was a family friend.

3) Lost a total of $33,000 in commissions due to mistakes. One of which was simple contract writing. In my opinion, a Real Estate 101 mistake.

4) An average of 20hrs a week of "wasted time"

5) Angry clients (this equals no repeat business)

6) Other agents taking time to help recover and clean up mistakesThe sad thing is, you can walk into our office almost any time of any day and there are training classes going on. Heck, I even learned how to blog on Active Rain because of a training class. The fact of the matter is that you cannot succeed in this game unless you are educated. Before I even wrote my first offer I forced myself to;

1) Take the SAME contract class 4 times

2) Take the basic MLS class

3) Take the "advanced" MLS class (twice)

This doesn't include all the classes I have taken over the past few years.

Small Disclaimer:) "I am by no means am the Tennessee RE authority and there are many agents in my office in which I look up to and even call for advice."

Where am I going with this? Well, I took another class this morning (a refresher on using our Nashville MLS search). It reminded me how an educated agent is ALWAYS better than those with just a license. Some of the basic techniques learned in the class;

1) Knowing how to use the "archive" feature. This will let an agent know whether or not the house for sale has appraisal issues, inspections issues, etc. Our teacher asked if anyone in the class uses this feature. NO ONE raised their hands! This simple feature would save a buyer from a lot of potential time, money, and HEADACHE.

2) Advanced REO search features which will show an agent ANY foreclosure, short-sale, repo, etc on the market. This is crucial for investors.

3) Email notices. This allows the agent to be the FIRST to know that a property has hit the market. This is also crucial for investors and those simply looking for a "good deal"

Those are just 3 of the important features that some agents simply do not use.

Does it really matter whether or not an agent is educated? YES. Sure, some agents can fudge their way to closing. Those agents get lucky. Not everyone has the perfect deal and that is when you need an "educated" Realtor...

Stephen Strickhausen



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