The question is Cathy’s, and it really plagues her:
Why do people hate Realtors?
It’s funny, truly, because almost nobody hates his own Realtor. Some people have real horror stories to tell, but most people don’t. To the contrary, most people have very happy, funny, charming stories to tell about the Realtor who helped them find their home.
Straight-commission sales people in general take a hit, not alone because we might seem to be more interested in the commission than in the work it takes to earn it. And, of course, there have been no end of unflattering portrayals of real estate agents in art — especially TV and movies.
Here’s my best answer, though:
Why do people hate Realtors…?
Because they think they’re supposed to…
Technorati Tags: sellsius 101, real estate, real estate marketing
jf.sellsius says:
They look at the finish line when the broker gets paid and do not see all the lost deals, open houses, marketing and all the time behind the scenes. The more expensive the house, the greater the perception that we’re overpaid.
September 26, 2006 — 10:10 am
rob says:
What we see is people with an arrogant attitude driving expensive cars, ac ting like everyone owes you something when you DON’T work that hard at all.
Your time is not worth more than mine, or anyone elses for that matter. Realtors are vultures, and protagonists of a consumerist society.
My opinion is that you should all learn to do real work. You are all scum.
October 14, 2006 — 11:57 am
Greg Swann says:
> You are all scum.
Hi, Rob. My clients pocketed $539,000 last week because of me. One of them made $90,000 on a condo she bought with me for nothing down two years ago. That’s $90,000 of free money, more money than she made at work in the same span of time. I’m not scum, but I think it’s very likely that you are impoverished by your attitudes. Don’t despair over the wasted time when you learn to change your outlook, but do make the best of the time you have left. I wish you every success in life.
October 14, 2006 — 12:04 pm
Brenda says:
Obviously, you have not had a good experience with a Realtor and I am sure that you had nothing to do with that. On average I and other FULL TIME agents work between 50-70 hours weekly working with clients who want everything handed to them, don’t want to investigate anything on their own, lowball the sellers asking price, and complain that the gulf courses don’t have the correct type of grass. We also reduce our fee’s, pay for inspections, play tug of war with the mortgage and title companies…… just about anything to help our client’s get into their homes. We are also expected to spend our time giving out FREE information on market values, answering FSBO questions, and giving out information on other agents listings,and be willing to “jump” at a moment’s notice so that you can see a house that you can’t afford. Would you call your attorney and ask for FREE advice or demand that he drop everything for you? I think not. Maybe the reason that your perception of Realtors being scum is because your “over-all” perception of what we do is distorted or perhaps you have asked one of us to jeopordize our integrity for your financial benefit and was declined. I will bend over backwards and do anything for a client who respects my time and my knowledge of my profession. And just to let you know how the breakdown goes of the fees; 1% goes to marketing,1% goes to the company/Broker, 1% is left over to us. That means if you are seeing an agent driving a Mercedes she/he is working 10 times harder, or perhaps its their spouse that has the decent salary. Tell me what other job pays 1% commission that people are scrambling for. I love my job and I would do it for free, but until I get my mortgage and auto loans for free I must hustle for my 1%.
December 30, 2006 — 7:01 pm
Lidice Dawson says:
As first time homebuyers, my husband and I searched a lot of real estate listings online in order to become familiar with the property prices in our area. Unfortunately, with most websites we were required to sign in and *register by giving out phone numbers, email addresses. Because of that we started being contacted by many different realtors, and I must admit a few of them were estremely “pushy”. Even though we had registered in the websites as planning to buy in 8-12 months, one particular realtor was extremely pushy about showing us a property the very following day. When I informed her that my husband and I were not ready to buy, she asked me, “Then why in heavens did you register to look at real state properties if you aren’t going to buy?” I tried to explain (politely even though the question felt offensive to me)that we were just trying to get a feel for the market before jumping in and buying a property. She tried once again to schedule an appointment to view this property and when I once again declined…she hung up on my face!
So while I don’t hate someone simply because of their profession, I still had a bad experience.
February 2, 2007 — 5:47 pm
Greg Swann says:
Hi, Lidice.
I’m with you. I hate all that crap. We try to market by the Golden Rule: We don;t do to people what we wouldn’t want to have done with us. Time wounds all heels, but you can accelerate the process: Don’t do business with jerks. 😉
February 2, 2007 — 7:20 pm
Brian Brady says:
Lidice:
Look for the ones who are interested in establishing a relationship rather than hunting for a transaction. Now, it goes both ways; you should earnestly be trying to find the right Realtor with the intent of buying a home in the next 12 months.
Start dating before you get married (to a Realtor). At the risk of sounding trite, “The right one is out there for you.”
February 2, 2007 — 11:20 pm
Pam says:
People hate realtors because there are so many skanky ones out there! My blog “I hate realtors and I am one” chronicles the disgusting behavior I see in this industry. The level of entry is too low allowing so many snake oil salesman in search of riches enter the field. Commercial real estate has a much higher entry barrier and there is a higher level of professionalism to be found. Also, many realtors are housewives or people looking for a little part time job. Those that take it seriously as a profession are the ones that do well and garner respect, in general. I believe the average yearly income of a realtor is something like $34K. Now, what kind of professional would accept such a low salary? That should tell you right there why people hate realtors. Too many skanks lowering the bar for the few who love what they do and really want to match people with the perfect place for their needs.
May 26, 2007 — 5:25 am
Brian Brady says:
Pam makes an interesting analogy:
“Commercial real estate has a much higher entry barrier and there is a higher level of professionalism to be found”
The costs are much higher in commercial real estate transactions.
“The level of entry is too low allowing so many snake oil salesman in search of riches enter the field.”
That competition will ultimately drive down the average costs to the consumer.
I think the best thing that could happen is that we LOWER the barriers to entry. More money-hungry Realtors equals lower costs. The same goes for loan originators. The cream will rise to the top and command high fees. The masses in the industry will undercut each other for the few deals available to them.
May 26, 2007 — 4:47 pm
Lidice Dawson says:
Hey guys:
Thanks for the response! I am happy to say we finally found a wonderful realtor ( I did do a lot of dating as some of you suggested) and we purchased a home. *Happy sigh* Trouble is…our realtor for some reason or other was let go by the real state company he worked for 3 days before we closed escrow. We were left with no contact information, no feedback on what was going on by the actual agency other than them referring us a new realtor (who also did a good job) for the finishing steps. That was a major disappointment! I have come out from this whole experience thinking that perhaps the realtors are not that bad themselves…it’s the real state companies which are the real culprit in the negative outlook most of us have of this industry and profession.
July 27, 2007 — 4:53 pm
Maureen says:
Very interesting comments on this subject! In response to the “real estate companies are the real culprits” I must protest. As an owner of an independent boutique firm I know that the client’s goal is the MOST important aspect of our company, however that is usually only the case with independaents. We do not have stockholders to account to and are able to be more proactive.
February 24, 2008 — 4:44 pm
Jennifer says:
Ok,
I am in the midst of selling my house. (Or starting to sell my house).
I had decided on a realtor per my friend’s suggestion. She came by and I was prepared to sign a listing agreement.
I am an attorney. This is my first house. I want to know what is going on.
We sat down to sign the listing agreement. My first question to her…is this an exclusive agency contract or an exclusive right to sell. Easy enough. SHE DID NOT KNOW WHAT EITHER AN EXCLUSIVE RIGHT TO SELL OR AN EXCLUSIVE AGENCY CONTRACT WAS NOR DID SHE KNOW WHAT THIS PARTICULAR CONTRACT SAID.
The first paragraph said “Exclusive Right to Sell.” DUH.
The she said to me…its not that big of a deal. i’ll just summarize it for you. Its NOT that big of a deal. Just a small thing. UMMMMMMMMMM.
This is why I hate realtors. 75% of them are glorified car salesman. If all you want to do is sell something, sell something that doesn’t affect 7 years of a person’s life when they have to file for bankruptcy because you helped to convince them to buy that house that cost an extra 10,000 because what’s an extra 10,000 when you amortize it over 30 years and just pay interest?
I hate realtors because they don’t care enough to understand the LEGAL documents that they put in front of someone AND they tell you that you really don’t have to read it.
Needless to say, I’ve found another agent with whom to list.
September 5, 2008 — 2:16 pm
Jim says:
I have been a real estate appraiser for the last 17 years and have worked with my share of real estate agents. I see the side of them that is not selling – the “real” side… The side that isn’t that “i’m hear for you” side. Let me tell you, only about 10% are genuinly nice and caring people. Caring, meaning that they actually care about the client. Most are not trained sufficiently and do not understand legal documents and most do not understand basic appraisal methodology – even though they are supposed to during their coursework. I know what they are supposed to know, because I just passed the broker exam (which is the sales exam on steriods). The bar is set WAY TO LOW for agents and more importantly, the DRE is not sufficiently staffed to regulate/punish those whom work unethically. There are many appraisers that should not be appraising also, but they do not pretend to be something they’re not. Which is what I really hate about sales people. Basically whenever you have someone selling something based on commission, you are going to attract a certain “type” of person. It is unavoidable.
October 18, 2008 — 6:49 pm
Dayna says:
For me it has nothing to do with the money. It’s the mentality that the world and everyone in it has a schedule that is created to work around them. Our home is currently for sale and I am a stay at home mom with three kids. I have had over a dozen instances where realtors are honestly baffled by the fact that they can’t see my house whenever they feel like it. I have had them show up without calling and act offended and stunned when I turn them away. And they are the worst dressed profession on earth.
October 23, 2008 — 3:20 pm
Teri L says:
Dayna-
Sometimes, when we are showing property to buyers, we drive past a home that didn’t show up on the MLS, for any number of legitimate reasons. Our clients are looking in your particular neighborhood, and the outside of your home has tremendous curb appeal.
Our clients wonder if they can see the home, since we are already here anyway. So, spur of the moment, out of the blue, we ask. We are not trying to intrude on your time, or cause you grief. We are trying to sell your home, that’s really all there is to it.
Our schedules are, to a large extent, dictated by our clients. We try to work around our client’s work schedules- 1st, 2nd, 3rd shifts; in for a weekend only; a sudden change in the family schedule… You get the drift.
>And they are the worst dressed profession on earth.
Okay. That one hurt. 😀
October 23, 2008 — 5:26 pm
Brad Coy says:
>75% of them are glorified car salesman
Could not be far from the truth IMO. I have come across so many in this business transacting Real Estate who don’t even understand how to write a contract, let alone understand the details and legality of one.
>I hate Realtors because they don’t care enough to understand the LEGAL documents that they put in front of someone AND they tell you that you really don’t have to read it.
Another good point. Realtors who are reading this should listen up. I have heard this before. Is there a lot of “boiler plate” type information that might be redundant along the process? Yes. Is it your option to whether or not a client should read something they are going to sign or not? Absolutely not. As seemingly mundane and rote as we see documents. The meaningfulness of them is to be determined by our clients. Not by you.
October 24, 2008 — 12:23 am