People don’t give Realtors much thought unless they’re buying or selling a house. At least, I never did. And then I went and married one, so needless to say, I have some newfound insight on this particular career.
It’s a unique job that requires a unique skillset. 90% percent of the people who get their license do not renew it at the end of two years. And only 1% of Realtors make it to 25 years. My husband has been at it for16.5 years, so I’d say he’s at the upper end of the bell curve.
He also happens to love his job. That, of course, helps in any profession. But it’s a particular boon in this one, because it’s a challenging job to succeed at.
First of all, you only get paid if the sale is made. You might work with someone for months, and in the end walk away with nothing. Only half the people you work with result in a paycheck. A lot of the time it must feel like volunteer work. That would drive me insane.
Your paycheck isn’t steady. It’s either feast or famine, and that must make it difficult to pay your monthly bills. But my husband is quite good at long term planning and budgeting.
And then every time he does get a paycheck, he’s unemployed again. Much effort is expended in finding new clients. Fortunately he gets a lot of referrals from old clients, because they recognize how good he is at what he does.
He spends tons of time and money in continuing education, advertising, and marketing. So that big commission gets divided in a lot of ways. The profit margin is extremely slim, and it gets even more strained during an economic downturn.
He’s also never off the clock. He gets calls all hours of the day and night, seven days a week. If you want to do this job well, you have to strike while the iron is hot. And you never know when that will be.
People who go the “for sale by owner” route don’t realize how much they shortchange themselves. Realtors earn every penny they make. They increase your home’s exposure, they give advice in staging it so it looks desirable, and they are up to date on all the legal issues so you don’t make a horrible, expensive mistake. They are familiar with the market in the area so that you can be sure that your home is not priced too high or too low. They make sure all the t’s get crossed and all the i’s get dotted. They also have well known contacts in other parts of the industry so that you have a competent team on your side. When you try to go it alone, the real nightmare often comes when you forget to do something and it comes back to bite you after the sale is closed.
If you’re looking to buy a house, I cannot stress enough the importance of finding the right Realtor for you. The term Realtor is misunderstood by many. When people get their license from the Department of Licensing they are a real estate salesperson, aka Brokers. But only those that become members of the National Association of Realtors® are Realtors. Brokers don’t bother to correct people when they are mistakenly called a Realtor, but there is a higher standard and a Code of Ethics that Realtors adhere to. So don’t just pick some random person off the internet, or latch on to someone that you’ve only just met. Do your homework. Find someone who has worked in the field for several years, and knows your area well. Choose a someone who is a member of the NAR and who loves his or her job and will give you all the attention that you need.
The interesting thing about the job, the thing I would have never guessed, is that it’s really a helping profession. I think that’s what my husband loves best about it. You are helping people find a home that they can afford, and that they will love.
When he was helping me find my home, he spent a lot of time listening closely to what I was looking for. He quickly learned that it was important to me to have a big bathtub, a fireplace, and a dishwasher. On the other hand, I didn’t really care if I had a garage. But I did want off street parking (which is an important consideration in the Seattle area.) He figured out that I wouldn’t feel comfortable in one of those neighborhoods where all the houses looked alike. I would have stuck out like a sore thumb in a gated community. Because he took the time to learn all those things about me, he was able show me listings in my price range that fit the person that I am. That counts for so much. No two people get the same image in their heads when you say the word home. My husband really understands that. A good Realtor always will.
Another thing that a good Realtor will do is tell you to walk away from a house that he knows is not right for you. My husband did that several times, even though he knew that would delay his getting a commission. That’s when I knew he was a keeper, professionally speaking.
He also understands that the house buying and house selling process is stressful as all get out. There were two points in my process where I had a complete meltdown. I’m learning that that’s not uncommon. Sometimes my husband takes on the role of counselor or bartender. He listens. He advises. He reassures.
He also enjoys getting to meet new people. He shows them that he’s honest and really has their best interests at heart. For a long time, he couldn’t figure out why he felt a slight let down after a sale. Shouldn’t he be feeling triumphant? But then he realized that his clients quickly become his friends, and he was going to miss seeing them every day. Many of them are still friends years later.
I think the best part, for him, is getting to be his own boss, and being able to work with good people, knowing that their success in this monumental life task will also be his own.
If you are buying or selling a house in the Seattle area, (basically from Everett to Tacoma), contact me and I’ll put you in touch with my husband. You won’t regret it. And if you are located in any other part of the country, he can also help you find a reliable Realtor in your area.