At a family gathering over the holidays, my youngest grand kid said she’s going to enroll in the OREA Real Estate Course and she’s saving up for it. I asked her, “Why real estate?”
The answer: “Because I can make a lot of money!”
I asked if she’ll be full time and she said, “No, I’m going into it part time. I don’t want to leave my good paying job at Shoppers Drug Mart.”
I told her that a part-time gig is going to be difficult, but I wished her well and said I’d help if and when she needed it as she progressed.
I also said it’s a difficult job unless she has a data bank of potential buyers and sellers. I said I’d show her how to build that once she’s well along in her courses. It’s more than just making money, I proffered. It’s about building wealth and making relationships. It takes time and patience, despite YouTube, Facebook, Twitter and Instagram, which have become the shortcuts to building relationships.
I believe that most of the entrants to the course – at least 30 per cent in some areas – are part-time real estate agents. This is a continuing problem in our industry and I am not the only one who thinks so. I’ve heard from many salespeople that this is allowing many to enter into a field that is constantly changing and evolving. Part-time real estate agents miss out on training and being involved in an office environment.
The Real Estate Council of Ontario, along with other regulatory bodies in Canada, are now ramping up the qualifications and looking into more types of education to better prepare entrants to our field. I hope that it will include writing an offer and a listing.
I’ve studied the format of the present curriculum in Ontario and although it has improved dramatically, it still leaves much to be desired by my fellow long-time colleagues.
Most people entering our industry see big money and big cars with what seems to be a very cheap way to became financially successful. But that’s the conundrum. It takes time, education, effort and long hours. Can a part-time agent really succeed? In some instances sure, but it’s rare. Once they sell their friends and relatives, they don’t know which way to go or what to do. I know this is a valid statement – I’ve heard it so many times from so many sources.
I’ve often said that there should be an apprenticeship program, where the student passes a first year of courses and then works six months under an experienced agent. Then the same for the second year. Once they pass this university type of regimen, then they come fully certified. At the very least, the wannabe agents will be better prepared.
The second part of my article is devoted to agents who successfully pursue listings of all sorts – expired (yes they still do) FSBOs and farming. You can’t always rely on the MLS to sell that listing. Where do your other buyers some from?
They’ll come from an open house, mailings to the area or from contacts in their database. Months ago, I wrote about developing a VIP list of prospects for buying and selling, which would include all those firms and businesses who service our industry. Think about it. This list can be extremely important, for example, if you are lucky enough to list a high-priced rural property that can take months to sell.
Got you thinking? Write to me for a complete format, or you can research it on this website.
All the best to you in 2015 and may you have good health. Anything else you get is a bonus. I am recovering from some health issues, but you can reach me at 416-736-9730 or 416-418-3094 until I return to full-time duties.