Rant Cometh.
I am so sick of hearing people IN OUR INDUSTRY claim that our primary duty as real estate agents is to prospect. To bring in business. To make rain. To pursue buyers and sellers as our primary priority, even if that means we have to "guard against interruptions during our prospecting time from OUR CLIENTS" (don't get me started).
Here's what these folks imply, and sometimes outright say: That the vast majority of what happens after a listing agreement is signed or a buyer goes under contract can, and should be handled by an assistant. In fact, some go so far as to call that stuff that happens after a listing agreement is signed or a buyer goes under contract "administrative" or "clerical."
I read a comment this morning on another forum that flat-out said that there really aren't that many details involved in a real estate transaction, so if an agent is getting "bogged down" in transaction-related details, she clearly needs to examine her systems and priorities.
Uh... HUH?
I'm gonna go out on a limb here and say that anyone who thinks closing a real estate transaction in 2010 (or 1998 or 2002 or 2005 or...) can easily be handled by an administrative assistant or even a licensed assistant isn't closing too many deals. Either that, or the agents on the other end of their deals are working doubletime doing both agents' jobs, while complaining bitterly (and justifiably) that the other guy is a lazy idiot.
But here's my real question of the day...
If you believe that the day-to-day functions of putting and keeping real estate transactions together can be delegated to an administrative or clerical support person; if you have so little respect for what actually DO that requires a license, HOW THE HELL DO YOU JUSTIFY CHARGING THOUSANDS OF DOLLARS FOR YOUR ASSISTANT'S SERVICES?
Okay, rant over for the moment. But I suspect there's more on the way...
Jennifer, you are spot on. I have buyer's remorse to over come, Contractual Language Clarifications, Escrow Modifications, Preliminatry Title Report questions, Underlying document clarifications, Physical Inspection Discussions.....I could go on and on. This is where I earn my money after Negotiating the Offer, Getting it accepted now to keep the buyr in Escrow. NO it is not clerical duties.
I am involved in every aspect of my business. No, I don't have an assistant, I am a control freak! So yes, I earn every penny of my commission!
Jennifer,
I like what you are saying, some people abuse the system, I need to share with you that I do have a Transaction Cordinator (NOT AN ASSISTANT) what she does for me is simply (nothing simple about this) cordinates all my deals, Listings and Buyers. Your comment "anyone who thinks closing a real estate transaction in 2010 (or 1998 or 2002 or 2005 or...) can easily be handled by an administrative assistant or even a licensed assistant isn't closing too many deals. Either that, or the agents on the other end of their deals are working doubletime doing both agents' jobs, while complaining bitterly (and justifiably) that the other guy is a lazy idiot." I think you are completly WRONG!.
This week alone my T/C helped me write 5 listings (she is licensed & my beautiful wife), 3 buyer contracts she will also do my marketing and so much more. I think if you are an agent that is doing more than 2 deals per month you NEED A LICENSED TRANSACTION CORDINATOR, It is a must!!! I must ask you whatis your monthly production I am also going to assume that you do not have an assistant or T/C, but let me tell you if you did you would have more business if you choose to.
The first 6 months of this year I have closed over 17 deals I am on track to close a total of 40 deals this year and signed a builder this week that is planning on building over 70 homes in the next 12 months.
I would love to talk with you personally on the phone and help you with this, I am with Keller Williams and we teach eachother how to leverage our time.
I have a T/c, Buyers agent and a Listing agent that will start Monday on my team. If you not increasing your closings then youneed to see what people are doing to do so..
Jennifer, have you heard the comment: "You either have an assistant, or you are an assistant"? I don't subscribe to this, but there are many that do. I recently had a transaction with a broker whose assistant did all of the interaction with until the actual closing. It was a nightmare that almost got stopped in its tracks when the broker didn't have the right paperwork, didn't know the details of the transaction, and called to yell at his assistant during the closing! I want to know the details of my files and work for my clients, not look like a pompous idiot. (oops- I started to get into rant mode there... :))
Ken - I hear you and I believe you. But I don't think your lovely wife qualifies as clerical support, and that you have a system in place that is actually an ideal real estate model. I've written quite a bit in the past about how sales acumen and exceptional customer service are two different skill sets and a better model would be two equally professional people running a real estate business together where each partner does what he or she does best, and is fully appreciated (and compensated) as a professional.
That's not what this blog is about - it's about agents who have so little respect for the time, energy and expertise involved in getting a contract, and getting that contract to closing, that they believe it's appropriate to delegate everything but prospecting to an hourly administrative assistant.
Maybe I have an inflated opinion of my value in a real estate transaction, but I do NOT believe my clients deserve to be handed off to someone I know is less capable than I am.
Hi Jennifer - For many agents it's simply a matter of time management. Things like taking photos, ordering a sign, entering a listing into MLS and other online sites, faxing short sale packages to the bank(s), prepaing marketing pieces, scheduling inspections, picking up HOA docs, etc. can all be done by an assistant. That frees up time for the agent to focus on the really important things like Endre mentioned in comment 1 which require a level of skill and experience -- and that's where we earn our fee.
Jennifer - I used to work with a mortgage broker who did a fantastic job for the buyers I sent to him. His deals closed and my buyers adored him. At some point though, he decided to bring on an array of assistants and processors, and pretty quickly it was clear he'd completely lost any connection with the clients I'd sent to him. I'd call him when problems arose and he'd stammer and stutter and obviously wasn't involved in the loan anymore, which was a huge disappointment to me. His team was good, but not great, and I stopped using him after a few deals crashed that he couldn't salvage because he'd handed them off.
Amanda - I am a control-freak too!
Endre - THANK YOU!!! That's exactly what I'm talking about.
John - agreed. Although I'm a control-freak enough that I'd rather do a lot of the administrative things to make sure they're done right. But I happen to be very good at that stuff. And I remember when I did try having administrative help back in the 90's how often even the simplest things would be done wrong, or forgotten. By the time I'd factored in training and keeping an eye on things and dealing with payroll and insurance and reporting and, and, and... I decided it was more efficient to just do it myself.
Jennifer - you have a lot of passion for this subject. I think the main point is "your client - treatment and respect" I use to provide marketing for a lender who had a team of people and we ran into the problem often. It was my job to keep that person at the front of Realtors.
I think things can be delegated but bottom line what I learned is if you decide to expand you have and must keep the client at the center. Trust me - those that don't experience the truth in the end - and loss of business.
Jennifer,
I don't think there is anything wrong with having an assistant (and no I don't have one), but I do think you have to carefully look at what the assistant's job does. I know for me a lot of business and continued business comes from the personal touch I give my clients and having an assistant would cause me to lose that. Not to mention all the legal issues that come up alot the way. Like I said, I think an assistant can be the right addition to the team for the right person, but only if they use them wisely for "true" clerical tasks that frees the agent up to do more of the transactional items!
Kaera, I don't have a problem with anyone having an assistant, as long as they aren't delegating more than they should be out of a false sense of how "easy" this job is. I also agree with you that taking the time to be personally involved with each of your clients, even if that means doing administrative or clerical things can go a long way toward impressing that client with your commitment to customer service.
Janet - there really isn't a substitute for truly being involved, is there?
No assistant here and we thankfully do alot of business. I do not feel what I do is only clerical after the ink drys on the paperwork. Now I can see the benefit of an assistant definitely, but most of our tasks need our personal touch.
Agree with your rant against the undervaluing of your services - BUT - the problem is that too many agents DO trust the downstream activities to WAY under-qualified and/or overworked assistants. The you never see the agent again. THAT's what I have a problem with!!! >:-(
Your story about the mortgage lender resonated with me...although it is sometimes inevitable really, really good folks do move up in an organization, when that happens, it can often result in a loss of business -- I had that same thing happen with a loan officer years ago and ended up not working with him any longer because the relationship that had worked so well was no longer functioning once assistants were thrown into the mix.
While I don't do certain tasks, like deliver condo or HOA docs (a courier can take care of that), I am certainly going to make sure the address is correct on the envelope! LOL You know what I mean...there is no detail in a contract that is too trivial to overlook.
Susan - My experience with assistants was that all those little details could NOT be trusted to someone "clerical" who didn't care about the business the way I did. I once had an assistant deliver brochures for me to three different listings - and put the wrong brochures in the wrong boxes. SHEESH. She also put a sign in a really weird place in the yard - where it couldn't be seen from the street. But I am a big believer in hiring things out that don't directly affect my business if they're done wrong so that I can focus on being the detail-fanatic control-freak that I am.
Robin - THAT's exactly what I'm saying!
D&D - I agree. And if I'm willing to delegate important tasks to someone else, that person should be qualified to be my partner, not my assistant.
But I do want to say that I'm NOT advising against getting help, especially if you aren't as fond of the details as someone else might be. My point of the blog is that I think it's disrespectful to our industry for those WITHIN our industry to say that what WE DO for the people who hire us is trivial and menial. It's NOT.
Preach it, girl! Getting a contract is the easy part.......helping buyers and sellers get to the closing table takes a lot of skill these days!
It takes way too much to get a deal to the closing table these days. I wish it was just clerical work that could be handed off, but no such luck. It would be great to just fill out the contract then sit back and get the check :)! These days it's like trying to hold silly string together! Great post!
JA - A former Associate showed me how to be somewhat systems oriented which helps greatly. Now if the transactions could come under those guidelines it would be terrific. I rarely find two which are even remotely similar anymore. I hate how some Assistants are thrown "under the bus".
Here we have several competent teams were the team leader is a lister/leader only, a listing specialist takes those listings and runs with them, a transaction coordinator does the same with deal files, and there are one-three buyers agents rounding out the team.
Whether that concept - or some other - really works is solely up to the abilities and dedication of the team leader. It's partly the organization, but mostly it's the people. Communication is the key.
We have one team in particular whose leader is squarely in the middle/on top of every deal. There is nothing of significance about which she is unaware. They are a pure pleasure to work with.
Jennifer - don't have an assistant but hoping to get one soon. And yes, I will still answer my own phone and talk to my clients, on their time. But, having someone else handle some of the tedious tasks will free me up to better serve my clients.
Actually, all I need is a housekeeper. Freeing up my time would benefit everybody!
Jennifer. I think there are MANY parts of the real estate transaction that can be delegated. Our jobs are negotiating and solving problems. Pretty much everything else can be handled by an assistant. If we choose to go that way. I don't.
The number one most important part of what we do is generate new business. Without new business we are unemployed and can't help anybody. This is the part that a lot of agents don't get. They rely on their brokers to hand feed them business. And because of that they will NEVER have independence.
Real estate is not complicated. The key is to have systems oin place.
I justify my commission by getting the job done. That's really all buyers and sellers care about. They don't care how I do it as long as I get it done.
Great blog and great comments. An assistant is just that - someone who ASSISTS, not takes over. I know there are shops who turn everything over and the client never hears from their agent until the closing table. I'm guessing there's no repeat business there.
And, I agree, if you're not doing the work, why are you charging such high fees? If the "typical" is 6% in your market and you're only doing the first 10% of the total work needed, then I'm guessing you've reduced your commission to .6%, because that's all you've earned.
I think an assistant might be nice, but I am not there yet. I do agree with you about these "systems" that have people thinking they can work 10 hours a week and let the System do the rest.
I agree. I had a deal where I was never able to talk to the buyers agent. I did not appreciate, at all, that she had more important things to do than to talk to me, the seller.
Rant on, you're not alone in your feelings. I know assistants can be valuable when used properly and I know that's not what you're complaining about.
There are times lately where I have wised for an assistant because I have been so busy but I wouldn't have turned it over to one! It took skill and thinking out of the box to get the deal done. Real Estate is just not like the good old days! Keep preaching Jennifer!! :)
Good one! Your are right on!
Ben - Thank you!
Debbie - My feelings exactly.
Karen - Yes - that's exactly what I'm saying. Assistants are fine, but hopefully they can't take our places!
Gene - Sounds pretty sweet, huh. Maybe, um, too good to be true?
Juli - YES!!!!! Justify THAT!
BB- We agree - there are definitely things that an assistant can handle, although I've found that by being in close contact with my clients (by doing administrative things), I create a better rapport which always, yes, always leads to future business. So, perhaps that's a different view of prospecting... instead of pursuing new business, you spend that time staying in your current clients' faces...
And part of "getting the job done" is making sure it gets done right. And in my experience, that takes MY involvement.
Monica - During the peak of my real estate career, I hired a wife. She did all my domestic duties (well, most ;-]) so I could work. For $20/hour, it was WELL worth the money.
Mike - No argument there.
Jim - it sounds as they've created a good situation. Again, no argument with it.
Kevin - I'm sure they don't much like being thrown under the bus either!
Brenda - Great analogy! And with the size (and relative infrequency) of our potential paychecks, I'd just as soon be the one holding that silly string together!
Ann - And getting the contract in isn't a slam-dunk either!
I agree so much with this post. Some tasks can be handled by an assistant. However, agents that feel they are being bothered by phone calls from clients, so they restrict the times they'll answer or return calls to an hour or two a day, aren't giving the personal service home buyers and sellers deserve.
In 2010 holding the escrow together is the hardest part. Having help is one thing, handing it over is another. I totally agree with everything you say and run my business the same.
With systems and time management, you can complete your tasks, so I'm with you on this issue.
Our office staff will input MLS, help with brochures etc., however, by the time I write everything down and explain what I want it seems easier to just input it myself and make sure it is correct. At this point, I'm not busy enough to support an assistant. I try to have systems in place and work efficiently. Having come from a corporate world where the business model changed from having word processors, secretarys and admins, to doing most everything on your laptop, I am pretty self sufficient.
An assistant can not cover the details and complex issues that arise nor should they since they are probably not licensed to do so.
If this person actually thinks an assistant can do most of their job, they must not be doing a very good job.
You know how I feel on this subject! Contract to close is a hazard zone that requires diligence and competence to ensure a successful closing. The tasks necessary to get a transaction closed can be sorted into some admin work like copying contracts, filing, ordering signs.
But in each of the other areas that I'm personally touching I'm ensuring the transaction stays on target: inspections, appraisals, loans, on going issues, negotiations. Just recently I had a buyer agent who basically did nothing on his side. I had to make sure every detail was done with the contract, the mortgage, the closing company and still had to manage what an out of town seller needed to get done. Unless the person I handed this work to was a licensee who had as much invested in the outcome as I did, I couldn't have expected them to be able to do what was required or have the knowledge level to even recognize where a problem was arising! I'm the licensee and it was my skill that held it together.
I think admins have their place and can be worthwile, though probably more on the marketing and office mgment side than a transaction monitor. I think your rant is more focused on someone who "gets the business" and then immediately hands everything off to a transaction coordinator and you never see or hear from him/her again.
As an agent, when I have to deal with an office that does that it drives me nuts. In one big name producer's office here, I had to deal with her husband to negotiate (he complained about the seller the whole time) and then got turned over to a transaction coordinator for any details. I attended inspections and sat with the seller explaining what my buyers were doing. No one from the other side was ever there. The seller never quite knew who was handling what by her agent. From a relationship and trust standpoint it really didn't work very well and it taught me a very big lesson about what I'm paid to do.
Josette
Josette - I'm SO glad you stopped by! I almost posted the comment you wrote on my past similar blog because it was so good... but this one is even better!!! And yes, I'd rather over-control my deals than under-control them in an effort to be a good delegator... it IS my a$$ and paycheck on the line!
Catherine - YES! That's exactly what I'm saying! If someone doesn't value their own skill, expertise and knowledge as being something important and well, valuable - how can feel good about charging so much for it?
Ann - I agree. For me, it's just easier (and more efficient) to do it myself.
Joetta - What a good point - I can't believe I missed that... that our buyers and sellers deserve better than just being handed off... unless, of course they're being handed off to someone better than the agent, but that just doesn't seem to be the model!
Laura - Two very different things!
Kimo - I agree!
Jennifer: I earn what I earn because of my ability to bring buyers and sellers together better than most. I don't defend my income or brag about it either.
Ty
I have a deal going right now that I have the buyers for. I and another agent in my office or working together with them. It is taking everything the 2 of us plus the listing agent can do to keep the deal together and get it to closing. If it were a smooth closing with very few glitches, yeah maybe an assistant could handle it. But smooth closings are a rare bird these days.
And if I have the clients sign a listing agreement or buyers rep, I feel it's my responsibility to take care of them, not some asistant.
Jennifer - AMEN!!! I HATE working with Realtors that hand off the entire transaction to their unlicensed, overworked and more often than not their rude assistants. On another note, I have had so many buyers come to me after having gone through a bad experience with some bank rep where the escrow fell out.
One of their first complaints is that their bank rep literally disappeared once the app was signed and how they had to deal with a different person every time a problem came up. Furthermore, no matter how much the complained and asked to talk to the bank rep that they met when they first applied, the bank rep never called them back - it was always some other person.
Ann - What a great point. YOU signed the contract, so, yes, you should take responsibility for the success of the experience.
Someone who is capable of putting and holding a deal together from contract to closing is NOT an assistant - he or she is a PARTNER!
Donne - Yes, there always is that silver lining - when other people blow it with their arrogance, incompetence and poor service, it makes us look all that much better! And we ALREADY rock!
Ty- Sounds like a good philosophy!
My clients refer me to their friends because I handled their transactions from start to finish in person. It involves creating TRUST. Once they know that I am on their side, working for them, and concentrating on their needs, with nobody else involved, they understand they can trust me. I have received multiple referrals because they only had to deal with one person who answers his phone.
When I get busy my wonderful wife helps out with paperwork and sometimes my clients will meet her and understand that they are still getting the same hands on work done.
Jennifer,
People do not like surprises, and too often the handoff to an assistant is a surprise.
As an Agent, I don't like it, when the other "professional" and the assistant are not on the same page. I am certain that clients like it even less.
I've often wondered about this myself. Yes, if you are super busy it's great to have an assistant and be able to delegate work. At the same time, you should not get the listing contract signed and then never been seen or heard from again by your client. There are just some things that should continue to be handled by the listing agent- period!
Jennifer, I am a new agent so I do not have the experience as most of the agents that have posted here. I agree with you 100%. In my opinion it is my duty as my customers agent to be in control of whatever is happening in my customers buying or selling process. I don't think there is anything trivial about providing not excellent but outstanding customer service. There may be a time that I have to delegate but I don't know that I would want to at this point. I almost lost my first sell because of a situation that arose that I had to get involved in to make sure that my customer was taken care of. Call me a control freak to but from what I have learned and am still learning there isn't anything meaningless about take care of your customer the way you want to be taken care of. Again I am just a rookie but that is the way I see it.
I have an assistant (fully licensed I might add) that handles the "contract to close" aspect of pending deals as well as many of the administrative aspects of listings. No, she is not overworked and is fully competent to handle everything I can be doing. At any rate, it is all about the systems you have in place to make the transaction run smoothly. I would never refuse a phone call from an agent or client during the process, but as many have already pointed out, there are so many aspects that an assistant can cover. I always let my clients know her involvement up front and give them the choice of my staying involved or handing off to her and no one has ever asked that I stay involved. Communication is the key!
I have always had a problem with brokers/agents who delegate most of their work to assistants. Don't get me wrong, I have an assistant and am very thankful for all the help I get with the clerical end of things, running errands, etc- the things that were taking up too much of my time to allow me to effectively do my job. But if I am hired by my clients to sell their property, than it is MY responsibility to see that everything is done, and done correctly. I cannot consider the details and tasks between putting a property under contract and the closing to be "just clerical". They are far from that! I get paid to list AND sell properties. To me, that means every pertinent part of the deal is my responsibility. Yes, I work long hours on every deal, but when I deposit that commisson check. I never feel guilty for having not done my job!
Get a grip your highness! You will have to admit that typing a listing into the MLS can be handled by others correct? Phone calls from stupid agents that don't know how to use a lock box? People from ActiveRain trying to sell you this & that newest thing can be redirected to the VM garbage can. I would never feel guilty handing over anything to an assistant - I know what is a priority and what is not. Possibly you ran into someone that doesn't?
I just recently picked up a client who started to deal with the local top producer with 4 licenced assistants only to be turned over to a licenced assistant. They where very disappointed that they where not important enough to have the top agent work with them. So they got a release from everthing they had signed with him and then called me. Explaining to them why this happens wasn't easy while not trashing the agent. If this is your business model then make sure your clients are aware of this before you have them sign anything!
Here in Ontario we have rules of what an assistan can or cannot do but who really polices this. I don't know how many times I have been contacted by an assistant for feed back on a showing that just happened. Needless to say I have decided not to give feedback to an assistant.
But maybe I need one to check my spelling.
Good selling everyone!
When I was still selling, I often said that getting the listing and/or finding the buyer was the easy part. The hard work began after the purchase and sale agreement was signed.
I still believe that. Seems like there are at least a few hundred things that can go wrong between agreement and closing - and each one of them deserves attention from the agent, not an assistant.
You are spot on, however, I personally don't know any agents who have this outlook on the business. I know agents with assistants and buyer's agents, but I don't know one who 100% delegates every detail to them so they can prospect. I've experienced a nice balance of assistants, doing just that, and making sure little details are covered like meeting deadlines, scheduling termite or walk throughs etc. I don't have one, probably should, but am a control freak and can't let go.
I once had a transaction, while representing a buyer, in which I never spoke to the listing agent. Every time I called and asked for him, I got a call back from his assistant. Most times she would take my question and reply that she would ask the agent call me back again. I earned my money on the transaction while that agent was free to do his "rainmaking". There is more to the story, but you get the idea. We closed the transaction but, to this day, he remains on my list of agents with whom I would rather not do business.
The toughest thing we do these days is getting the transaction to actually close, which right now requires a lot of experience and knowledge of real estate law. I don't feel I could hand off a lot of those duties to anyone but myself!
I would love an assistant to just do some things that take my time up but can be done by someone else....making sure signs are still up, printing new flyers for info boxes, adding listings to craigslist, postlets, etc., keeping me on track with things...
I just don't relish the idea of training such an assistant...like you I'm a control freak and would be bothered if it weren't done the way I wanted.
It's just the opposite for me...marketing the property is a piece of cake...the real work begins when the P&S agreement is signed...my deals close because I see to it they close...I wouldn't trust that part of my job to anyone.
Hello jennifer:
I feel your pain. It seems the the more we see real estate industry degrade into specialties of the super salesman "Lister" and the back office staff to actually make the deal happen we will cheapen our value not raise it. I'm all for assistants as long as they are under the direct control and supervision of the licensee, just as sales people are under the watchful eye of their broker.
Jennifer I understand your frustration but the simple business matter of it is that if you are the bottle neck, then your production can only be as high as you are physically capable. There's no doubt in your tone and comments, that you are deeply committed to your clients and doing what you think is right by them. Being a salesperson and being a "manager" of people are extremely two different job functions, and each have their own separate set of required character traits. And most often, a salesperson is a poor manager and vice versa for the previous reason. Understanding what the job functions are is the best place the start. If you are good at finding and getting properties under contract, wouldn't you agree that your clients would be better served if the other details were handled by someone that could do them better than you? Now don't say that you are the best at every stage. I can safely assume that you are great at ever stage given your passion, but there are always people out there who can do everything we do better than we do it. Finding and hiring this talent is a REAL benefit to your clients and is actually the better service model for them. The problem that a lot of us agents have is that we internalize the emotions of the clients and thus take ownership of their transaction and feel that no one could possibly see them to the end like "we" can. Well, this just simply isn't true and sometimes our own best intentions actually harm our clients.
This doesn't mean you turn over your business to $10 an hour teenagers but to actually develop a business model, just all the other millions of businesses out there who employee people to work, interview and hire the talent that can do the job. And if you've run into an agent who hasn't given his/her business model that much thought and it's made life a little frustrating for you then welcome to the wonderful world of commerce. Not all are great and not all will be in business forever.
By the way, most sales people don't realize they are running two businesses together. The business of getting business (hence the emphasis on prospectiong by the gurus) and the business of selling houses. Two distinctly separate businesses that you must run together successfully.
Best regards,
Vic
The hardest thing to do is let go and move on to the next client.
The hardest thing to do is let go and move on to the next client.
I love when people post rants like this.. always generates great responses, but as usuall, this one is based on a bit of a misconception. You are comparing your experience working with a bad/unorganized/inexperienced assistant with working with a competent solo agent. Not all agents are competent!
We have all had transactions with a solo agent where we would have had better luck grabbing someone off the street, handing them the file, and working through it with them. We have probably also had deals with a team or assistant where neither the agent nor the assistant/team was effective.
But there is a great deal of space between those two extremes. Personally, I have a virtual assistant who provides an awesome level of support to me and my business. Database maintenance, listing entry, price updates, contract submission to my office, a 40 minute pre-listing interview with potential sellers... the list goes on. Her doing all of this BETTER THAN I COULD allows me to focus on the things that I am good at, or avoid the things I don't like. This is a fantastic model to get enough off your plate without becoming a manager.
Your potential is limited to the amount of work you can do...... if you are OK with that, good for you. If you want more, you have to have leverage.
George's comment above is exactly what Jennifer is getting at in this post. All of the items he detailed allow him to acquire business that he can service well. This is what you use specialized help for. Her point was not that we shouldn't be delegating work but that the work you delegate should be well considered. There is nothing in George's list that is client facing, all of which should be done agent to agent or agent to client.
Maintaining my marketing lists, typing an entry that I've approved into the MLS, sending out postcards, ordering signs up, creating listing books, etc. All of these can be done by someone who learns a system. But you cannot turn over how to negotiate, how to keep a shaky buyer in a contract, how and when to get a home re priced, a failed loan, and the million other details that pop up when a home is under contract. Or if you do turn it over I'll still submit it must be to someone who has the skill to handle that and is invested, like a partner.
Yes, you can only handle as much business as your capacity. And that is the crux of this. The more we reach to get business that we can't handle personally the more the public becomes jaded and disgusted with our exorbitant fees and lack of service. It becomes a vicious circle of constant prospecting because we can't rely on past business if the level of competence wasn't what the consumer expected.
Just my two cents worth.
Josette
If you are in a niche market, such as historic homes, sometimes there are no other licensed people available to be an assistant who have the specialized knowledge necessary to be the resource person who has to be there to answer questions.
Delegate the admin stuff, but not the responsibility. And never lose contact with the principals.
Thank you for ranting! That is just crazy for anyone to think there isn't enough involved in a transaction for the agent. Obviously they are not doing much follow up. There is so much to do that I do not see how an agent can do it without an assistant! Ours has been with us for 12 years because she is a crucial part of our team.
The Orlando board of Realtors published a list of 180 items that are done to complete a real estate transaction. I still believe that selling is not that difficult, but you need expertise in getting the transaction to close. Joy
Hi Jennifer,
I came in when things were starting to slow down...so I may be skating on thin ice here - but isn't the emphasis on rainmaking a result of a very slow market? It becomes an all-consuming process when the ability to generate business hits the skids. And who can blame folks? We gotta eat and with no leads - we don't pay our bills!
I live in a lawyer state so an attorney draws up the contract etc. It gets sticky - however, given the difficulites in this market I find that my activity level in dealing with a ton of roadblocks to closing is higher now than it has ever been. And what buyers and sellers don't understand is that this is a critical point in the transaction. These days we are usually putting out about 5-6 fires prior to closing. The last two closings were more like an uncontrolled forest fire that was out of control for about 2.5 months....
BUT - I still have to generate business. There is precious little to be had and although my former clients help - few know anyone wanting or needing to move. With most people STILL sitting on the fence after a 3 year stand-still market - if I don't block time to generate business, I'm in big trouble.
Amen! I'm a newbie in RE but have been in sales for awhile and 1 thing is a forever constant ... the Client wants & deserves nothing but YOUR best! I strive to handle each client with personal care and be there for them every step of the way during this huge life event. I haven't had the experiences as the others who've posted but it was important that the broker I chose to sign with, shares this belief with me.
Thanks for all the well-thunked-out comments! For those who are (maybe?) a little offended by my ramblings, I'll just say this. If you believe that the details of a real estate transaction (no, not putting up the sign and copying brochures) ARE important and worthy of expert attention, then I was not speaking to you ;-]. If you've created a team or a partnership or a system that takes care of your clients as your first priority, whether that's by you or someone as or more competent as/than you, GREAT! Keep up the good work.
But if you're annoyed because I claim that managing the pieces and parts of a real estate transaction should NOT be delegated to a $10/hour assistant, then yes, I'm talkin' to you!
I don't think that applies to anyone who has commented on this blog.
Thanks again for your comments!
Hey Jennifer! Long time no talk!
I often end up doing a lot of the work for the other side of the transaction too... can I have their side of the commission too? :)
HUGE post Jennifer and sorry I missed this one!
VB ;-)
I agree with you whole heartedly. It is my responsibility to see the offer and sale to completion. Not a hired person. The hired person can send out mailings pieces, lick stamps and address envelopes. Does not take a license to do that part of the real estate business.
Wow, sorry it's taken me so long to get to this one. I couldn't agree more. Sounds more like you're not paying attention to the details and something is going to come back and bite you in the . . .
Our licensed assistant is a control freak just like we are and does an excellent job maintaining the paperwork and making sure everyone is communicating effectively and getting information to people lighting fast - we pay her whether we are profitable or not, because she is worth every penny! This gives us more time to deal with the delicate negotiations and problem solve. We work very hard for our money and our assistant enhances the experience for our sellers and buyers.
Prospecting is the hardest part of this business. It's critical to making a living. What comes after prospecting is not that hard. There are many very qualified assistants out there that just like getting the deal done in a very professional matter. Prospecting is not their thing.