11/12/2023
Op ed courtesy of . The recent splashy headlines continue to feed the misconception that realtors are overpaid for doing very little work. Unfortunately, reality tv has not helped our cause.
So…what do we do? Here’s just a scope. We must have keen knowledge of market data, long term housing trends, financing options, negotiating prowess, understanding disclosures and contracts, reno recommendations and related ROI, property inspections. These are just a few examples. Let’s remember the most important…managing emotions because for most, buying and selling a house is a big deal.
How do we get paid? The majority of consumers might be unaware that we’re not salaried employees with benefits or 401K. We are commission based, which means that we are ONLY paid when a client closes a sale. Any one client can take two weeks, two months, or two years. Or decide they don’t want to sell their house or buy one after-all. The length of time does not matter, and if someone has a change of heart, too bad. When (and if) we finally do earn a portion of the commission - read that again, a portion of commission, taxes/insurance/retirement/marketing costs/ association fees/etc is our responsibility. We start all over again with the next client and the next and the next. And the next client isn’t readily at our disposal, we have to find them.
My post isn’t about complaining about how I’m paid or the media coverage, it’s about shedding some light on the actuality of the business.
I love this business. It’s the only one that I know of that provides an opportunity for equal pay between genders. There is no glass ceiling for women; we can make not just equal to, but surpass our male counterparts in earnings. You’d be surprised at the small percentage of realtors that are paid well (majority leave within 5 years for economical reasons) however, the success rate is directly proportional to how much work we’re willing to put in. And it’s hard work - it takes intelligence, determination, grit and a sharp business acumen to succeed.
Are there bad apples? Of course, just like every industry. But my SF community of realtors is ethical, smart and deeply cares about their clients.
The question posed in the piece is a really important one; will a buyer trust the sellers’ agent to represent him or her properly?
There will certainly be changes in the industry - the direction it will go is to be determined. But change can be a good thing, and I’m here for it.
