Wednesday, June 8, 2016

The REAL World of Real Estate

I recently re-entered a Business from which I have walked away not once, but twice in the past.

Now, I must say in both of those instances there were extenuating problematic situations which made the Real Estate Business extremely difficult.

I first sold Real Estate for Help-U-Sell and another Brokerage (which I won't mention because they were unbelievable crooked) in the Orlando, Florida Area.  At that time the interest rates soared to an all time high of18.5% in the early 80's! Oh my, people couldn't afford those rates, so it became a challenge of hunting for every single Assumable, Non-Qualifying Mortgage a Realtor could find and that made the competition for listings a dog-eat-dog proposition!  Ugh.  I'm not good at that environment.  I will say that for the year and a half I sold Real Estate in Florida I managed really well.  In fact, I was top Sales person in the month of DECEMBER (not a good month for Real Estate anywhere).  But, following a serious auto accident, I decided that I would change careers again and went to work as a Registered Nurse/Marketer for VNA.

I didn't sell Real Estate again until I moved to Georgia in 1996.  I first accepted a job for a builder which did not require a Real Estate License.  That worked pretty well, until I met a Broker/Owner of a local Real Estate office who convinced me I would make more money and be happier working with her.  We became great friends and things were rocking along and then came the Housing CRASH!! Nothing selling but foreclosures and short sales...and believe me that is NO FUN in any way.  Unhappy Sellers...Greedy Buyers...Ugh..once again, I decided it was easier to be retired.

Fast Forward:  Utah 2016.  Moved from Georgia in 2013 and have looked for various jobs, but because of my age, it is difficult to get hired. Tried a couple of things which were awful.  Then a Broker/Owner moved in across the street from me.  It took about a year, but she finally convinced me to come back to Real Estate. I actually love working with Buyers and helping Sellers to get the best price for their homes.  I got my Utah Real Estate License in March.  Then I got certified to sell Distinctive/Luxury Homes and Stage them.  It's been fun, but kinda expensive.

It's been challenging lately, however, as it has become a Seller's Market and some of these sellers don't understand that just because you get three offers, your house isn't necessarily worth $20,000 more than it's Market Value! I have written FIVE contracts for one poor guy, and he still hasn't been able to close on a home.  He was outbid by $20,000 on a $140,000 home because the other buyer had cash so the appraisal didn't matter.  Outbid on another...same reason.   Horrific inspection on another caused it to fail for financing reasons and seller wouldn't do repairs; yet another with a bad roof and the owner is at least $10,000 over Market Value and won't replace the bad roof! We are in negotiations with yet another Seller who is priced Waaaaaaay over market and it isn't going well.
The house won't sell for what she has it listed for...nothing comps in the area any where near that!

Plus, now the market is flooded with a bunch of "newbie" agents who don't have a clue about negotiation, pricing, etc.  Talk about making the market difficult...this is a nightmare.  I am attempting to ignore all this and hang in there!

Really people, everyone thinks Realtors make big money...FYI they don't.  When a Realtor lists a home and it sells, half that 6% or whatever listing money goes to the Broker...then the Realtor has to pay for their own SIGNS, POSTS, Marketing, MLS dues, license fees, Board Dues (more than $1000 a year) ink, paper....on and on and on.

Don't get me wrong, I really do like being a Realtor...even at age 69!  I just wish that one time the market would be somewhere toward NORMAL when I am doing it! Realtors work HARD! Please be sure and tell yours that you appreciate all they do!



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