So "awards season" is over for me.
My husband attended the Regal Awards for the Greater Columbia Home Builders Association with me. It was mostly attorneys and bankers, only a few agents, but we had a good time. A husband of a fellow agent did ask why we get awards just for doing our job. It made me laugh. He's exactly right. But in real estate it's all about production. Why should someone use you instead of someone else? There are 4,000 agents in the Midlands.
Last night was the Circle of Excellence event for the Central Carolina Realtors Association. My husband has been really sick, so I brought a friend. I brought home a Platinum award. Super humbling since so many people in that category have been selling since the 80's and others are basically famous in this area. But the experience was eye-opening. I didn't consider how weird this industry is until seeing it from someone else's point of view.
1. BIGGEST ONE: Many agents, including me, have become desensitized to the faux pas of discussing money. I grew up knowing that it was a topic to be avoided (along with politics; religion got a pass since my dad was a pastor). When working with a client, I know how much they are qualified to spend, their salary, and they know my commission since it is listing on their closing statement. My income is a calculation. A percentage of sales price is the gross commission. Gross commission - company take = my income. Then we are awarded based on the amount of commission that we make, so it isn't exactly a secret. The difference between me and every other agent in the room is the percentage split with the company that varies from brand to brand. So people will call and say that I should work for their company because I'll make 10%, 20%, 30% more. Everyone talks about money. Weird, huh?
2. It is an aged industry. I am the youngest agent in my office and one of the
youngest full-time, top-producing agents in the Midlands. At 29, I'm not
exactly a baby. Nationally the average real estate agent is 56 years
old.
3. Out of 4,000 agents in this area, there are only a few who make a good living at real estate. The awards room was mighty small. Nationally, the average agent makes $22,000. Could you live on $22,000? Especially with self-employment tax, dues, marketing expenses, etc.
It was fun to get all dressed up at these events. I'm blessed to work for the same company as some wonderful, wonderful people. I hope that I won't ever believe that this success has anything to do with me. I have been blessed, and I'll continue to serve my clients to the best of my ability. I'm so grateful.
Saturday, February 22, 2014
Thursday, February 20, 2014
Those who can't do...
try to sell Real Estate?
That's how I fell into it. I had a business degree, customer service and contract experience, loved real estate, and was competing with PhD's for every job in a down market. But it is also the career-of-choice for many of your favorite reality tv stars.
Reality shows about this industry have a growing audience and remain popular (as referenced in this Wall Street Journal article). But not just real estate reality shows feature real estate agents. Just on an early cast of The Real Housewives of Orange County alone, there are four real estate agents (that I know of). So I guess it goes like this: create your own clothing line, put out a cheesy song, and sell real estate.
What caused thoughts about this random topic? Tonight I watched the "Southern Charm" preview episode. I'm always interested to see how SC will be portrayed nationally on these types of shows. It is usually less than flattering. To my surprise Cameran Eubanks (remember her from Real World: San Diego?) is unemployed and decides to start selling real estate.
This industry is scary every single day. Maybe they have huge reality television salaries and don't actual have to sell. Each day I wonder, When these deals close, will there be more? Will we have another dip and people will stop buying/selling? I absolutely love what I do. Each day presents new and exciting challenges. Would I recommend it? Never, but then again I have a huge aversion to risk and thinking about commission-only pay gives me hives. But I wish her the best of luck in her new career!!
Is anyone else planning to watch this show? Hopefully it will be better than "Welcome to Myrtle Manor" and "Party Down"!
That's how I fell into it. I had a business degree, customer service and contract experience, loved real estate, and was competing with PhD's for every job in a down market. But it is also the career-of-choice for many of your favorite reality tv stars.
Reality shows about this industry have a growing audience and remain popular (as referenced in this Wall Street Journal article). But not just real estate reality shows feature real estate agents. Just on an early cast of The Real Housewives of Orange County alone, there are four real estate agents (that I know of). So I guess it goes like this: create your own clothing line, put out a cheesy song, and sell real estate.
 |
| courtesy of tvguide.com |
This industry is scary every single day. Maybe they have huge reality television salaries and don't actual have to sell. Each day I wonder, When these deals close, will there be more? Will we have another dip and people will stop buying/selling? I absolutely love what I do. Each day presents new and exciting challenges. Would I recommend it? Never, but then again I have a huge aversion to risk and thinking about commission-only pay gives me hives. But I wish her the best of luck in her new career!!
Is anyone else planning to watch this show? Hopefully it will be better than "Welcome to Myrtle Manor" and "Party Down"!
Tuesday, February 18, 2014
Pet Peeves and other stuff
WARNING: Wordy with no pictures.
I am pretty laid back. Try not to sweat the small stuff. If there isn't a hard deadline involved, I'm not going to freak people out. For instance, the South Carolina sales contract gives a 10 business day due diligence period. In that time you are allowed to have inspections and verify any important information (square footage, schools, and restrictions are a few good examples). There are agents who will start emailing me three days into the due diligence period asking if I have the repair requests ready for them. Why, man? Why? If you are asking, you probably have your clients in a huff waiting.
I always tell my sellers in the beginning that buyers have ten business days for inspections, etc. I'm not going to bother them until that tenth day. They aren't doing anything wrong by taking those days. If it's ready before then, awesome. But many good inspectors take a full week to get you on their schedule. If they find an issue with the HVAC system or the roof or any number of things, those are more inspections to schedule. I've never gone over a contract deadline. If you do in the case of repair negotiations, you are accepting the house as-is (buyer) or agreeing to do all requested repairs (seller). It's dangerous, and one of the most important ways that agents need to protect their clients. The sales contract lays out a specific timeline, and it's always the same (unless crossed out, changed, and initialed).
Ok, so on to the pet peeve thing. Here it is: All I ask is that people take responsibility for their mistakes. Many people either make excuses or shift blame. Have some sense of personal responsibility. If you mess up, it isn't the end of the world. Say it, pay up whatever the damage is, hopefully learn from it, and move on. Is that so hard?
I made a deal with myself when I started in real estate. I promised myself and God that I would always do the right thing. In all cases if I make a mistake, I pay for it. I don't go around making tons of mistakes, and I've never made the same one twice. One that comes to mind is when a freezer was repaired on the day of closing. It didn't have time to freeze so that the inspector could make sure it was repaired properly and we went to closing anyway. I should have advised my buyers to wait on closing until we were sure the repair was complete. It was still broken the next day, so I paid for the repair.
You'd be surprised how many agents don't work this way. I hear all the time, "I won't cut my commission, I never do." Well dude, if you messed up and it's going to cost your clients money, you should cut your commission. I probably take responsibility that isn't mine on occasion, too. I'll never be rich, but hopefully people will know that I have their best interests at heart. And I'll always be able to look myself in the mirror and hold my head up high at the grocery store. It never fails that I run into clients when I go in my pajamas.
Morals of the story:
1. Don't stress unnecessarily
2. Take responsibility
3. Do what is right
4. People will remember
Phew. (as I jump down from my soap box.)
I am pretty laid back. Try not to sweat the small stuff. If there isn't a hard deadline involved, I'm not going to freak people out. For instance, the South Carolina sales contract gives a 10 business day due diligence period. In that time you are allowed to have inspections and verify any important information (square footage, schools, and restrictions are a few good examples). There are agents who will start emailing me three days into the due diligence period asking if I have the repair requests ready for them. Why, man? Why? If you are asking, you probably have your clients in a huff waiting.
I always tell my sellers in the beginning that buyers have ten business days for inspections, etc. I'm not going to bother them until that tenth day. They aren't doing anything wrong by taking those days. If it's ready before then, awesome. But many good inspectors take a full week to get you on their schedule. If they find an issue with the HVAC system or the roof or any number of things, those are more inspections to schedule. I've never gone over a contract deadline. If you do in the case of repair negotiations, you are accepting the house as-is (buyer) or agreeing to do all requested repairs (seller). It's dangerous, and one of the most important ways that agents need to protect their clients. The sales contract lays out a specific timeline, and it's always the same (unless crossed out, changed, and initialed).
Ok, so on to the pet peeve thing. Here it is: All I ask is that people take responsibility for their mistakes. Many people either make excuses or shift blame. Have some sense of personal responsibility. If you mess up, it isn't the end of the world. Say it, pay up whatever the damage is, hopefully learn from it, and move on. Is that so hard?
I made a deal with myself when I started in real estate. I promised myself and God that I would always do the right thing. In all cases if I make a mistake, I pay for it. I don't go around making tons of mistakes, and I've never made the same one twice. One that comes to mind is when a freezer was repaired on the day of closing. It didn't have time to freeze so that the inspector could make sure it was repaired properly and we went to closing anyway. I should have advised my buyers to wait on closing until we were sure the repair was complete. It was still broken the next day, so I paid for the repair.
You'd be surprised how many agents don't work this way. I hear all the time, "I won't cut my commission, I never do." Well dude, if you messed up and it's going to cost your clients money, you should cut your commission. I probably take responsibility that isn't mine on occasion, too. I'll never be rich, but hopefully people will know that I have their best interests at heart. And I'll always be able to look myself in the mirror and hold my head up high at the grocery store. It never fails that I run into clients when I go in my pajamas.
Morals of the story:
1. Don't stress unnecessarily
2. Take responsibility
3. Do what is right
4. People will remember
Phew. (as I jump down from my soap box.)
Saturday, February 15, 2014
Oh Happy Day!
...Oh happy Day-ay... when Jesus washed (when Jesus washed)... he washed my sins away...
Thinking of Sister Act 2 now, right?
It is a happy day in this house because Jesus washed our sins away, yes, and because we finished our purchases for the living room. I am a happy girl.
We loved our former sectional, though the light "linen" color wasn't working so well with a toddler and a dog. That was my spoken excuse, but the real one is that I was ready for a change. It happens every so often, and five years with the same sofa is a record for me. I've promised my husband that these leather sofas will stay for at least seven years, and I know I can keep my promise. They are my new boyfriends. I've been sitting on them since they arrived, testing out each cushion to see if that will be "my spot." I have been doing my office duties from the living room couch.
The sectional is now living in my husband's office. He feels like a sardine, but I can't bear to part with it. We may move someday and have a living room AND a family room, or a bonus room, or any number of rooms that our little ranch doesn't have. I don't want to get rid of a perfectly good sectional and need to buy a new one. So that's the plan for now. We'll see how things look in a month.
You may remember when I posted about what we were purchasing. I get an idea and run with it until it comes to life. That is how every room in our house has been decorated, good or bad. We stayed pretty true to the mood board with one minor change. Let me explain- while I have been working on my house, I was also re-furnishing (is that a word?) a sorority house at USC where I'm the housing and facility advisor. I had found the perfect rug. A 9' x 12' flatweave beige and navy stripe. I wanted it for my house AND for the sorority house study. Sadly Overstock sold out. So the sorority house is getting the flatweave beige and navy stripe, and my house is getting a navy and ivory stripe. Though the lighter color would probably be better for college girls than my baby girl, the rug is only 8'6" x 11'6" and was too short to be able to slide out chairs in the study. I'm armed with five gallons of Scotchgard to three-year-old-proof it.
My day started out not great. I had a continuing ed class and I went to the wrong location. Rookie mistake. So I got to spend the day working on things that I really need to get done, and looking at my newly mounted television (Geek Squad came this morning) and my new living room setup.
So what's left?
1. Paint walls greige and paint trim white
5. New window treatments (thinking bamboo shades with navy drapes)
Thinking of Sister Act 2 now, right?
It is a happy day in this house because Jesus washed our sins away, yes, and because we finished our purchases for the living room. I am a happy girl.
We loved our former sectional, though the light "linen" color wasn't working so well with a toddler and a dog. That was my spoken excuse, but the real one is that I was ready for a change. It happens every so often, and five years with the same sofa is a record for me. I've promised my husband that these leather sofas will stay for at least seven years, and I know I can keep my promise. They are my new boyfriends. I've been sitting on them since they arrived, testing out each cushion to see if that will be "my spot." I have been doing my office duties from the living room couch.
The sectional is now living in my husband's office. He feels like a sardine, but I can't bear to part with it. We may move someday and have a living room AND a family room, or a bonus room, or any number of rooms that our little ranch doesn't have. I don't want to get rid of a perfectly good sectional and need to buy a new one. So that's the plan for now. We'll see how things look in a month.
You may remember when I posted about what we were purchasing. I get an idea and run with it until it comes to life. That is how every room in our house has been decorated, good or bad. We stayed pretty true to the mood board with one minor change. Let me explain- while I have been working on my house, I was also re-furnishing (is that a word?) a sorority house at USC where I'm the housing and facility advisor. I had found the perfect rug. A 9' x 12' flatweave beige and navy stripe. I wanted it for my house AND for the sorority house study. Sadly Overstock sold out. So the sorority house is getting the flatweave beige and navy stripe, and my house is getting a navy and ivory stripe. Though the lighter color would probably be better for college girls than my baby girl, the rug is only 8'6" x 11'6" and was too short to be able to slide out chairs in the study. I'm armed with five gallons of Scotchgard to three-year-old-proof it.My day started out not great. I had a continuing ed class and I went to the wrong location. Rookie mistake. So I got to spend the day working on things that I really need to get done, and looking at my newly mounted television (Geek Squad came this morning) and my new living room setup.
So what's left?
1. Paint walls greige and paint trim white
Valspar's Oatlands Subtle Taupe courtesy of involvingcolor.com
2. Add gallery wall around the television
courtesy of Pinterest.com
3. Paint frames navy and enlarge photos of E for them
courtesy of etsy.com
4. DIY a coffee table that is large enough for the space (thinking a rectangular dining table from CraigsList with these legs and a barnwood top like the one pictured)
courtesy of cityfarmhouse.com
5. New window treatments (thinking bamboo shades with navy drapes)
courtesy of room-polish.blogspot.com
Friday, February 14, 2014
Tradesy Valentine
Some might find it boring that I pick out my gift AND my husband's. #1. I handle the finances and know how much to spend and #2. He is an admitted terrible gift-giver. He is the most loyal, generous, selfless, steady person you would ever want to meet (my grandmother says he is like a rock, strong and steady). I'm so blessed to have him as a husband, and he is an amazing father. The one thing he isn't is thoughtful. He isn't the "bring home flowers," "plan a romantic date," "pick out something you'll love" kind of guy. So I plan our
special dates and I buy our gifts. He loves me, and I like to focus on the things that he IS. He does buy flowers for E each year in trying to teach her how she should be treated. This year she asked for daisies and is so excited.
And a gift for the husband? A gun rack. In early March we will be moving out so that our hardwood floors can be refinished. When we move back in, the large guest room will turn into Hubby's office and the current office will go back to being a guest room. He's already picked out the perfect spot for the rack. All of our guns are locked and stored safely. With a three year old who is curious about everything, we are crazy careful.
In the words of E, "Happy Balentime's Day to you. Now can we decorate the tree?"
In my recent search for shoes for an event, I came across the site Tradesy.com. How did I not know about it before? Things that have been worn once or twice, or are brand new but can no longer be returned, are listed for sale. Behold my valentine's day gift:
courtesy of lyst.com
for a cool 68% off. Don't mind if I do!And a gift for the husband? A gun rack. In early March we will be moving out so that our hardwood floors can be refinished. When we move back in, the large guest room will turn into Hubby's office and the current office will go back to being a guest room. He's already picked out the perfect spot for the rack. All of our guns are locked and stored safely. With a three year old who is curious about everything, we are crazy careful.
courtesy of ebay.com
In the words of E, "Happy Balentime's Day to you. Now can we decorate the tree?"
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