As a real estate broker I’m part of a national network of professionals in the real estate business, and I have the privilege of conversing with these professionals about the real estate business, brokerage, the market, sales techniques, and trends.   I learn a lot from these colleagues, all of whom live and work outside my market.

Here’s a story I’ve heard more than once.   An agent worked for a broker who promised everything under the sun, including a vast educational network, training and mentoring, opportunity for growth and income, office support, tools, supplies, and affiliations that could help the agent build his business.   The agent wasn’t new to the business.   As a matter of fact, the agent had years of precious experience that the broker insisted would be helpful to the brokerage and help them finally get moving in the right direction and get some momentum going.   There were even hints of partnership or management that would involve substantial compensation.   It all sounded so good to the agent that he signed up enthusiastically with the broker.

Unfortunately, after a year of no office meetings, no “vast educational network,” no helpful affiliations, no marketing systems, no business planning, . . . and virtually no office support with any value, the agent decided he had no choice but to move on.   He realized after pouring his heart out and working long hours to be successful at the brokerage, and after undying loyalty and faithfulness to the broker and the broker’s wife and the entire staff, the broker had in fact misrepresented his services and benefits.

It turns out this is a common story told in nearly every region of the country.   Real estate agents have a hard time finding a good home, and that’s the rule rather than the exception.   The exception is the agent who has been working with the same broker for a dozen or more years.   That’s rare.

It’s a tough business. Brokers are trying to make money off every agent, and agent’s are trying to keep as much of their money as they can.   If an agent felt he was getting great value for the substantial portion of the commission he gave his broker out of each transaction, that would be one thing, but many agents are finding out they don’t get all that was promised, and some argue they don’t get anything.

With the real estate market down so far, and deals few and far between, it has become dog-eat-dog out there.   If you’re a Realtor trying to find a broker who understands how to run a profitable business and take care of his agents with generous compensation and mentoring, don’t give up hope.   They’re out there.   They’re just hard to find.

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In Sequim and Port Angeles, there is one complaint I hear over and over again from people who had their property listed for sale with an agent at some point in the past.   I’m hesitant to share this, but I hear it so often, I don’t think this is any kind of secret.   In fact, it seems to be something that many homeowners have experienced in the school of hard knocks.   Here is what many have told me, almost verbatim:

“I had my property listed, but all my agent did was put it in the MLS.   I never heard from ‘him/her’.   Nothing happened.   No showings.   For six months.”

It’s a shame that such things happen, but this is not unusual around the country.   Getting a real estate license is not much harder than getting a driver’s license.   Sure you have to take an online course and take a test, but let’s fact it, just because someone has a license doesn’t mean they have knowledge and experience to handle your biggest investment.   I’m part of a large nationwide network of professional Realtors, and this is a common theme around the U.S.

I had some clients recently who took a very intelligent approach to searching for property.   First, they did their due diligence to find an agent they thought had the requisite knowledge and experience to help them find their ideal property and negotiate the best price.   Second, only then did they start looking at properties.   Makes sense, doesn’t it?   I think it does.   Of course, I am a Realtor, but I’m willing to be interviewed, and you’re welcome to do your due diligence in looking at my background to see if I can help you sell or buy your next property.     I love helping people buy and sell real estate, and everything I have learned in 30 years of real estate (including 20 as a real estate attorney) is yours for the asking.

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A majority of buyers now start their home search with an Internet MLS search for Sequim and Port Angeles properties. This is true all over the United States.

Did you know that not all real estate brokers and not all agents are necessarily members of your local MLS (multiple listing service), wherever you may live in the U.S.? What does it mean if a broker is not? Let’s consider the implications.

Most people know that the MLS is where real estate agents post their listings. This is the first step in marketing a property. Putting the listing in the MLS gives other agents who are members of the MLS the ability to view the details of that listing and share the listing with their potential buyer clients. All of this exposes the listed property to more potential buyers.

So why wouldn’t a broker be a member of a local MLS? There are three logical reasons. First, it is too expensive. That is not likely, since it is not an expensive service. In fact, it is the least expensive marketing an agent will ever do. The second possible reason is that the broker has a better marketing plan. That could be, but this also not likely, since the best marketing plan would include first listing it in the local MLS. The third possible reason would be that the broker’s membership was suspended or revoked by the local MLS board. If that is what happened, we don’t even want to discuss going further with that broker. Anyone who list with such a broker either does not know about the suspension or revocation or they are on Ritalin.

For the consumer, there are several more important considerations in deciding to list with a non-MLS participating broker.

1. What is the broker’s plan to market your property? Does he or she even have a plan?
2. How are the listings exposed to the rest of the world, or are they at all?
3. Does the broker depend almost entirely on just hanging poor photos of your listing in the window at his or her office? How many buyers will that expose your property to?
4. Is the broker’s effort at marketing focused only on local buyers in a limited marketing effort, or is there any national exposure to the many out-of-state buyers?
5. With no exposure to all the other local brokers and agents, how does the broker intend to expose your listing to all potential buyers, or even many of them? Most buyers will be working through other agents, right?
6. What is the broker’s relationship with other local agents? Good? Bad? Non-existent?
7. If the broker is not part of the local broker network, understand that it is highly unlikely that other local agents will ever tell their clients about the broker’s listings. Why should they, they don’t get paid.
8. A non-MLS broker will not have an IDX (public) search capacity from their website and your listing won’t show up in other agents’ websites through their IDX public property search tool.
9. Does the broker have many other agents who will help market your property, or is the broker a loner?
10. A non-MLS broker may try to entice customers with discounted commission rates. One question here. Would you pay a discounted price for a burnt steak, a rotten potato, and freezer burnt vegetables? What’s a discount if you don’t get the service, can’t sell your home, or don’t get the best price?
11. Last question. What is the broker’s relationship with past clients? I don’t mean just 2 or 3, I mean many of them. Anyone can end up with a few happy clients, but what about dozens or 100′s of clients? Are there a lot of burned bridges? Don’t you want to know?

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How would you find a good experienced and professional real estate agent in Sequim or Port Angeles? Someone you could be sure was both competent and trustworthy? Who is the best Realtor in Sequim or Port Angeles?

The following are true stories from somewhere in the U.S. Only the names have been changed to shield the guilty.

True Story #1. An out of town couple hire a real estate agent to find their dream home. Their agent shows them a number of homes. They purchase and close on one they love. Later they discover the home is infested with pests, and the wood under the house in the crawl space is rotting because of excessive moisture and standing water. Their agent knew about this but did not disclose it. The buyers paid for the repairs out of their own pockets.

True Story #2. A widow purchases a home that turns out to have asbestos, but she has no recourse against her own real estate agent nor against the inspector.

True Story #3. A couple listed their land with an agent they found through a popular advertisement. Their land was listed for over a year but never sold. Out of frustration the couple did not renew the listing and decided to sell it themselves.

True Story #4. A couple listed their home with an agent, but months passed by and they didn’t hear from their agent, didn’t have any activity on their home, and didn’t see any advertisements. They withdrew the listing, listed with another agent and sold the home within a matter of weeks.

What are you looking for in a Realtor? Do you know how to identify what you want in a Realtor? Or will you end up disillusioned with your agent?

By the way, the photo above is me . . . many years ago. Wow, I look so young. Looking for a competent and trustworthy Realtor? Interview me and ask me anything you want, and you decide. I don’t have all the hair I had in that photo, but I do have the experience you might be looking for.

Email me at chuckmarunde@gmail.com or simply call me anytime at (360) 775-5424.
Website: SequimPortAngeles.com
Blog: SequimRealEstateNews.com or
PortAngelesRealEstateNews.com

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I was reminded this week that in every profession, there are those who are competent, those who are mediocre, and those who are simply unprofessional. Think of the Dentists you’ve seen in your life. The really great Dentists make it almost pleasant. Or consider plumbers, contractors, CPA’s, insurance agents, or financial advisers. Some are great, and those are the ones to keep for a lifetime. But . . . this week I had a client who tried to work with a mortgage rep to get their home loan. There are some great mortgage reps out there, but this person was not one of them. No phone calls, no communication, lack of coordination among my clients and me, and ultimately this rep drops my clients with nothing more than, “Can’t do the loan.” No purpose is served here by going into detail, because my main point is this:

When you need the services of a professional, seek out someone who is really good, and that normally means someone who has knowledge and experience, and it certainly helps if they have a good reputation for 1.) doing good work, and 2.) communicating with their clients.

I’m a Realtor, and we all know that everyone and their brother has a real estate license. That alone should be a red flag for anyone considering working with a Realtor. Real estate agents are a dime a dozen. Having been in real estate for about 30 years now, I can tell you from personal experience that this profession is like all others. We have the competent, the mediocre, and those who are . . . well, let’s just say not your best choice. This certainly isn’t front page news, right?

So the next time you are looking for a Realtor, please, for you own sake, do your homework and seek a Realtor who really is competent, trustworthy, experienced, and professional. You’ll be so happy you did.

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