What Do Realtors Do?
Remember when you were a child and you were taken care of. Your needs were met, you had food and clothing, yet did you ever ask yourself as a child, where does the money come from other than Mom or Dad. How did Mom and Dad get their money?
If your parents were ranchers as mine were, I never understood how my parents got their money. Or to be honest……I never even asked the question. I was just well fed, always seem to have money when it was necessary. I do remember times when we were eating a lot of beans and there wasn’t as many trips to town for shopping. But never enough concern that made me stop to ask the question?
So, have you ever asked the question about the profession of what a Realtor does or how they get paid, let’s dive into that profession. It’s something I do know a lot about……and by the way, I do now know how my parents received money. Once a year.
What does a Realtor do and how do they get paid?
I can’t tell you how many people exploring the possibility of choosing the Real Estate profession, want to do so because it looks so easy and they love to look at property, so “wahlah” that makes them a perfect candidate…….WRONG! I thought Ranching was a difficult profession, Real Estate is not for the faint of heart.
As a Realtor the number one priority is prospecting, seeking new clients and customers. If you know a lot of people and have a large sphere of influence, that’s a bonus. However, the true art of a Realtor is nurturing those relationships. Not only nurturing the relationships of their current customers, but continually prospecting for new customers. Did you know that 90% of people asked, don’t remember their Realtors name. Did you know that 85% of RE/MAX 4000 Realtor’s business is from repeat customers. RE/MAX 4000 agents take great pride in maintaining this statistic. Statistic really isn’t the right name however…..again, it’s all about the relationship and taking care of the customer!
Loyalty is extremely important. Loyalty from the Buyer. Take a look at this example: You are working with a Faithful Realtor, they have searched property for you, they have met every request you have given them and more, they worked on weekends and at night, they have followed up with you. They have been sending you information and updating you on market conditions and one day you drive by an Open House, or maybe it’s a For Sale By Owner. You are asked, “Are you working with a Realtor?” You answer no because you want to get the “best deal” from the person you are talking to, or you’re afraid you won’t get ALL the information if you tell them you really are working with a Realtor. You write a contract with the “On The Spot Realtor”. Perhaps you believe you will get a better deal, or you don’t want to hurt the feelings of the “On the Spot Realtor”, or you just don’t want to bother the Realtor who has spent all this time with you because they’ve worked so hard already. How does your Faithful Realtor get paid…….. They don’t.
Each RE/MAX 4000 Realtor is an Independent Contractor. They don’t receive a salary, they are risk takers. If they don’t sell a property, they don’t get paid.
In Colorado the listing agreement provides the commission agreement that the Seller will pay the commission. You should never be mislead that you will receive a “better deal” if you write a contract with the “On The Spot Realtor”. Now if your Realtor has not kept in touch with you and you don’t feel like your needs have been met, then you really don’t have a Faithful Realtor do you? Again that is why RE/MAX 4000 agents have 85% of their business from Loyal repeat customers. The benefit of this to you, is you have been provided with all the right information to help you make informed decisions. You do know what is current. In my opinion, that’s how you make a better deal.
You may believe that all a Realtor has to do is show homes all day, write a contract and then go to the closing and collect the funds….. oh if it were so easy as that.
You want a trained professional Faithful Realtor especially from the point of contract to the closing table. That is truly when the detail and work begins. It used to be a hand shake and the work was done to have a closing. Now it is extremely complicated! In the days and weeks prior to a closing, there are dates and deadlines to be met, there are appraisals, counter proposals, amendments, Lender requirements, inspection notices and negotiations. You don’t want the most important part of the transaction left to someone who doesn’t know what they are doing. How much do you know about the “On the Spot Realtor”?
Trust your relationship that has been nurtured with your Realtor. Trust that you want a trained professional steering your transaction to the closing table. Know that you don’t have to buy a property from the “On the Spot Realtor” out of fear from getting the “Best Deal”.
A Realtor who has worked with you for a year, won’t receive any compensation until they look after you and help you get to the closing. Respect their professionalism and dedication with your loyalty. Loyalty and Commitment from both you and your Realtor….now that’s how you make THE BEST DEAL.
If you have further questions about RE/MAX 4000 or what to expect from your Realtor, I’m always available at RE/MAX 4000, 970-241-4000. www.gjproperties.com.
Toni Milyard RE/MAX 4000 Broker/Owner