Just an observation . . .
Running a real estate company or office seems to be mostly about recruiting. I guess that makes sense. Since real estate office make money from the sales their agents make, the more agents, the more sales.
Agents leave the business and more join all the time. The large companies recruit, recruit, recruit. Like most agents I get post cards in the mail and spam from real estate companies in my market.
It seems like the brokers all use the same criteria for bringing on new agents. If the person can get a MN real estate license and then pass the mirror test they are brought on board.
The mirror test is when the broker holds a mirror near the agents mouth and asks them to breath. If they can fog the mirror they are welcomed aboard by the broker. Most brokers and managers are too focused on recruiting to bother to spend much time helping new agents get started. It isn’t wise to invest much time in new agents anyway because they are independent contractors, which is different than employees.
Real estate companies gravitate toward recruiting agents who have sales experience, or of course experienced agents. Sales experience is important but so are computer and people skills. Many of the managers with the big companies don’t have computer skills. They started in the business before buyers and sellers started using the internet and seem to think agents can do just fine with out having basic computer skills. The goal seems to be to fill offices with as many mirrors fogging licensed individuals as possible so I guess it doesn’t matter if they have skills.
I currently am having a transaction with a new agent. I am representing both the buyer and the seller. The agent is a buyers agent and it is my listing. I already explained to the sellers when we got an offer on the property that some blanks needed to be filled in on the contract and some changes needed to me made to take care of the buyer. The buyers agent will get half of the commission but I am doing most of the work for both sides if the transaction. It is just part of the job. It would be nice though if the new agents broker got involved, but chances are he or she is too busy recruiting new agents.
Hey Teresa,
Always interesting, always an opinion or two.
The mirror test has been a proven method of determining an agent’s ability to sell. The foggier the mirror, the more hot air the agent can produce, the better the ability to talk at customers incessantly.
Just kidding, of course. As a broker, I can understand your point. The general tendency is for the number of agents to constantly be increased in the hope that something may eventually be sold.
I don’t completely agree that new agents are a bad thing. Proper support and training will minimize the frustration you are currently experiencing.
I personally love it when new agents join my company. They are computer literate and embrace our 2.0 approach. They don’t have the bad habits of a twenty year veteran and can easily be molded into a responsible agent.
I do agree with you that it is the responsibility of the broker to train agents both in technology and business practice. Some of my best agents failed the mirror test, but were able to overcome their handicaps to become productive agents. It all comes down to the broker’s commitment to provide agents with an environment that expects a high level of expertise and gives them access to on-going training.
Thanks again for the continuing stream of words and great thoughts.
I’m doing one of those right now myself. The listing agent actually asked me when she would have to turn the earnest money check into her office! I read the second paragraph of the purchase agreement to her and then talked about how her broker might have a shorter time span and she really needs to ask that question of her broker! Needless to say, you know who’s doing the work on that one!