Why do we constantly go on and on about how overworked and under paid we are? I am not. I am paid what I am worth. If I were not, I would not continue working as a REALTOR®.
We are adults. We have the option of saying no to people that refuse to pay us what we believe we are worth. If we go ahead and work for them for a lesser amount it is because we have agreed that we are worth a lesser amount.
As REALTORS® we have a lot of choices. We can determine where we wish to work. Do we want to concentrate on condos, short sales, foreclosures, resort properties, land, in a country setting or in an urban area. Yes, it may require moving but we have the choice.
Most of all we have the choice of whether we want to be independent contractors or not. If we feel that we must have a certain amount than we need to look for a job that pays that amount. By electing to be REALTORS we know that there are times money will be more easily earned and times when it may be more difficult. This is an arrangement that can work if one plans to be in the business over the long haul. It is about averaging.
We have the choice of whether we want to work for a firm that takes half the commission leaving us half or do we want to be in a position to take more risk and earn 100% of the commission.
Yes, we have many expenses that the public is not aware of nor do they often care. In order to make it viable for us to continue working in real estate when the transactions are fewer and further apart, we have to make wiser choices with our marketing expenditures and how we allocate our time. Granted we work harder to often earn less. Much of this changes when times get busy. Then we work very hard trying to keep on top of everything.
Is our time spent really listening to our clients so that we can do the best job possible in the least amount of time. That translates into a money saver for us and a less stressful time for the client. The more we spin our wheels the more costly each transaction becomes for us. The bottom line gets smaller.
Is enough time and effort spent keeping in contact with our sphere of influence, a main source of referrals and repeat business?
Is our time almost always spent wisely? Productively? Prudently? Advantageously? I know mine is not. That is no ones fault but my own. I cannot blame that on someone else.
Why do we sometimes focus on the deals that go sour? Think only of the contracts that fall apart a day or two before closing? Or the people that we work with for weeks, months, even years that never buy anything or worse yet, buy something using another agent that they just happened to meet at an open house that day?
Don't we remember the times we take clients out for the first time, write a contract that is accepted, go to settlement without a problem, all in a matter of days? I have had enough of these or circumstances close to this to realize they are gifts. I am sure you have had your share of gifts also.
When we were in the midst of a very hot market, which was really not that long ago, very few if any REALTORS® were going around saying we were being over paid and had it relatively easy earning very good incomes. Why not? True it was tough with all the multiple contracts and the fast sales unless you were the listing agent but the rewards were great.
So much of what happens is in our control. Granted the market is tougher now. So is it in the general work place. When we have so many people unemployed we know that there are going to be areas where real estate is not going to provide enough opportunities to make a decent living. If the 'job" is gone, the job is gone.
Unfortunately, there is no unemployment insurance to help tide us over. That is one of the benefits we give up for the freedom of being self-employed. We have to learn to budget for when times are not as profitable.
When times are tough economically real estate earnings are bound to be down. When the economy was booming so were our incomes. Again, it's about averaging. We simply do not have regular, steady incomes.
Let's remember that this is a very special profession. It has enabled many of us to work a schedule that often suits us, meet and work with people (that's a plus for people persons), and earn a six figure income with much less formal training and education than many other professions.
Being a REALTOR® has been wonderful for me. Hopefully it has been for you too.
©Copyright Kate Elim 2011
+++++++++++++++++++++++++++++++++++++++++++++++++++
GET MOVING WITH KATE!
540-226-1964 cell
lakeanna-realestate.com (Blog)
Kate - You've made some great points, and I agree wholeheartedly! :)
Wonderful post Kate...thanks for reminding us all that we are the one's making the choices.
Kate-there are times when it feels as if I have won the lottery in my real estate career and times where it seems I'm not making minimum wage. However just as you say the choice is mine to make. Great post!
Kate--well said. I agree with you, Tina and Cindy. We choose to work in this business. I chose real estate not the other way around. Those who don't like it need to take a long hard look at themselves. But in every field there are those just collecting a paycheck and complaining all the way to the bank. So sad. I feel sorry for them.
"The rain (no pun intended) falls on the just and the unjust" as I recall reading. Just thought of another one, "save for a rainy day". Yes ma'am and I LOVE this profession whether it is feast or famine! Excellent Post!
You bet. I've enjoyed avery job I've ever had and there haven't been that many, but being a real estate broker tops all.
Hard work, good money and just plain fun.
Kate - It ain't easy, but can be very rewarding. Same with the Mortgage side of things. There's flexibility in our profession that can't be found in most others.
Kate, it is all about choice in all areas. Choice of work, client, hours, how hard we work, how much money we want to make. Quit bellyaching. It is our choice in what we are doing.
Kate, thank you for eloquently stating the sobering truth of our profession. May other real estate pros discover the inner peace that you have demonstrated here.
A great read...
Thank you for sharing your thoughts...
Hi Kate, I love my job and am good at it! We know we are not all created equal in this job. I am willing to work harder/more to get the job done and keep my clients best interest at heart. Nope it doesn't always go my way and I do end up working for free too. But like I say in the classes I teach if it was "easy" everyone would do it. The dedicated full time realtors make the money like any other professional who does a full time job for a living. Overall great career 4 me!
Gee, Kate! I can't complain about being overworked - at least not right now! Nothing like checking out in the middle of the spring market and going to France!
It seems like the easy transactions are the ones you get a huge paycheck and the hard ones that seem to drag on and on only bring a measly paycheck. You are right as self-employed people, we get to choose what we do every single day.
I totally agree with you. I constantly turn down the opportunity of working with difficult people that do nto want to pay me. First of all I do not need the abuse, and knowing that I am not going to be compensated...I chose to pass on that privilege.
Hi Kate~ I Love being a Real Estate Broker. Yes, sometimes it is feast or famine. But, being a independent contractor, it goes with the territory! You are either married to real estate or you are not! If it isn't in your blood and you do not have a passion for it, then go on to something else. Being a Realtor is NOT for everybody. So glad we have choices! Richer or Poorer, I love my job! I am so glad you do too.
You are so right! Great post and over due.....All I hear is rah rah poor me in lots of blogs.Sure there's ups and downs but what in life doesn't have those!
1. we have choices, stop gripping and do something else if you aren't happy.
2. We are paid what we are worth and rather well I think.
Patricia/Portsmouth NH Real Estate
Kate - So many of us complain about our work, but those who love there career don't need to count the hours. They are doing what they enjoy more than any other career or profession and they know if they do it well the money will follow.
I agree. It certainly isn't easy, but it is rewarding. I like what I do.
Adri
I agree, too many people think because it was easy to make more in the past that something is wrong now. Its simple supply and demand.
Hi Kathleen -- Well said. I totally agree. You are very wise.
I agree- we have so much flexibilty and choices. I love my job!
Well done. Our licenses are portable! I had an agent call me on a deal, and she went on and on how she is "stuck" at her current office and cannot move. She has a few listings ... but no deals going. She hates her manager and is not being treated fairly. Her compensation stinks. Her fees are going up. Blah blah blah. I told her to switch companies. She shut up then. Everyone is pretty good at talking/complaining, but when it comes to action ...
Thank you Kate. It does get a little ridiculous listening to complaints, doesn't it? I call it 'recreational complaining". They just complain to hear themselves talk. Glad you put out all the positives!
Last week I was on vacation, and worked on 3 deals from my beach blanket while the kids body-surfed with their dad.
Yesterday I spent half of the day in my pajamas, working two other deals with the dog under the blanket next to me on the couch.
Complain?
I don't think so!
Thank you for your "put your big girl/big boy panties on and deal with it!" post!!
Nice reality check. :)
I never knew what I wanted to be when I grew up until became a Realtor. Live is good....
I enjoy what I do....and that's what makes it a more valuable 'job' for me. It is hard work...and good to me too :)
Hi Debi...I thought you would.
Kate
Hi Tina...Yes, we make the choices and so many of us have made the right one. It sure has been for me.
Kate
Hi Cindy...Yes, it definitely is a roller coaster experience but all in all, one that has served us well.
Kate
Very well said Kate. You'll never hear me complaining. I LOVE what I do. And I get paid enough. My job can be difficult but it's certainly not hard. It's challenging and fulfilling.
Hi Mary...The road is not always easy and yet I cannot think of another thing I'd rather do.
Well, if someone could go poof and make me a civil rights attorney I might reconsider.
Meanwhile, I'm more than content and proud to be a REALTOR®. It is a good profession.
Kate
Hi Alicia...You are right. Feast or famine, many of us are here no matter what.
Kate
Hi Lenn...That's what I love about it.
What a sense of satisfaction I feel when a transaction closes no matter how rough or easy it has been.
Kate
Hi Jason...I imagine you must have the same sense of satisfaction when you have helped someone achieve their goal.
It is a good feeling and the renumeration can be very satisfactory...at times.
Kate
Being a Realtor has been good to my and my family.. Some people are complainers
Kate - Your right and I have always said that being in sales is the most honest job you'll ever have...
"You only get paid exactly what you are worth, it's all up to yourself to get out there and get it"!
Hi Kate - We love what we do and would not do it otherwise. If we don't do the job, we don't get paid. There is, therefore, no reason to be negative! Real estate is fun and when it is done well, very rewarding! Thanks!
Mary
It is not an easy job, but it can be fun. Yeah, I am loving it...
Take the good with the bad and hope there is more good than bad!
It definitely can be a challenging career choice, but I love the adrenaline rush when I am able to make a deal work for my clients. I know I am working harder than I ever have in my life, but I wouldn't even think of changing careers!
I agree Kate! I LOVE MY JOB, and I think you have to work somewhere that is NOT a good fit to appreciate something that is!! I was a computer programmer right out of college. Terrible fit for me not to mention the long hours and overtime. At a recent home tour( gorgeous million dollar home/luncheon), I said, "Don't we have the best job in the world?? Meeting new people all the time, great food and conversation...able to get outside and enjoy the spring sunshine! " We all agreed that life as a realtor is pretty sweet!
I wholeheartedly believe that if you don't like the way something in your life is going...then change it. Being a real estate agent wasn't for me for a lot of reasons, despite being able to make decent money doing it. Working from my beach blanket? Not anymore. When I'm on vacation, I want to be on vacation not working!! Worrying about the ups and downs in income? No thank you. I found that I prefer a bit more stability in my life. I no longer work nights or weekends and have a steady paycheck and I'm so much happier for it. It's not for everyone, I know, but it works for me. :)
One thing for sure.. When it's good.. It's Good...and when it's bad.. Well it can still be Good !
Kate- What a well deserved gold star. When agents complain that they are not making enough money for the time they put in, a simple shift in price range is all it takes. As we built our reputation we have gone from many moons ago selling 100K and less homes to now selling well into the millions. We just showed our 3 million dollar listing to a buyer who found ONE post I wrote on the internet about the home, not even a listing portal and flew into see it last week. If he writes an offer, our seller's first remark was that it will be a commission that he is very happy to pay fully and even offered a bonus and more than most agent make in years of working. You see, you can make as much as you want but you will only make as much as your feel in your subconscious that you are actually worth. It is up to the individual agent to change that mindset. What you focus on expands so if you complain about the lost deal- guess what- you will get more lost deals! Whenever I decide I am not making enough money I just go up into a higher priced listing market. Now, what other business can you have that freedom in! Katerina
Kate...
I think that the business is a lot harder than most people think. I know that I earn my money! Congrats on the feature.
Kate- what a great post. yes we do have choices. Every single day and every single minute. Real estate was a choice for me and I choose everyday to continue. Its a fabulous career, certainly not for the faint hearted or whiner, and one that keeps me fully engaged daily. I focus on making everyday the best it can be and the rest takes care of itself!
Kate, What an inspiring post....for Realtors and all other professionals who work hard, care about their clients and have decisions to make. Mine is just to do my best possible job for each and every client. And get to hear those wonserful success stories. Much of it (MOST of it) IS in our control, it's our choices to make. Great post, I loved it.
Kate: You did a wonderful job writing this and your heart was in it for sure! Thank you for the great post!
I LOVE what I do. Great post!
~~ Aloha, Lana
Kate--congrtulations on the Gold Star for your post. I am glad that I was one of the first commenters. Good job! Mary
I enjoy selling real estate, and believe that most agents do. If it's fun, it's not work, so how could I feel under paid?
Excellent reminder, Kate. So easy to focus on the bad ones and the hard ones. Very nice reminder.
If you love what you do, then working a lot should not matter!
Great post, and hopefully a real eye opener for people who are struggling!
Thank you for sharing!
- Harrison
Hey Kate. Great post, and while I whole-heartily agree, let me play devil's advocate for a minute (I wonder, where are all those people that post "atta boys" comments on those posts complaining about pay?).
Your whole premise is based off of the fact that we are all adults. Assuming that simply by being an adult, that a person is able to function as an intelligent, informed individual capable of making smart choices is a major flaw in your argument. Just by watching 20 minutes or less of youtube videos will prove this. :-)
Seriously though, you do make one statement "...and earn a six figure income with much less formal training and education than many other professions." This is really not a good thing. State education/training requirements vary greatly, but the relative ease of getting and maintaining an RE license also makes the profession home to some truly incompetent and ineffective people.
The ONLY time a feel over-worked and under paid is when you have one of these as the other agent in a deal and you not only have to do your work, but theirs too, in order to make the deal happen.
Being a REALTOR® is wonderful for me. Especially when I realize I won't get laid off! I can still decide when I work and who I work with, even in this economy. I love being there for my family and having the flexibility to deal with life as a human being.
Thanks for this! I too feel blessed to have had to have greatly enjoyed this wild roller coaster ride. It is a privledge and has allowed me to create a work/family balance that works for me and I'm thankful for that!
Bragging about how as a Reator you are so busy that you are working 80 hours a week, is not the real estate Red Badge of Courage. It is lousy time management, or dare I say it, dare dare (Blazing Saddles line) a lie. Work smarter not longer.
This is a WONDERFUL post and I totally agree!
Hi Kate, You are preaching to the choir now !
Here, here! I am so tired of potential clients trying to get services for less. Of course, they have no clue as to what really goes into a transaction, but if you were to ask them if THEY would be willing to take a pay cut from their employer I would bet the answer would be a flat out NO. I have asked the question "and what services would you like me to cut if I should take a cut in pay?" Of course, they want full services but are a little taken aback by the question. Thankfully, we do have the option of saying "no thanks." I AM worth every penny of what I charge. I love the look on peoples faces when they ask "will you cut the commission" and I say no! It is priceless because they really do figure that you will do anything to get their listing. I learned from Flloyd Wickman (Sweathogs) that it was ok to say no and that we don't have to take every listing and I live by that.
My favorite quote (don't know where it is from) that I have hanging in my office and I believe it wholdheartedly. "If you keep doing what you've always done, you'll keep getting what you've always gotten"
You are right. I see agents all the time take way over-priced listings, and then they complain for six months (along with their sellers) that no one is calling. Wow! You think that the price could be the issue. You bet it is. Even a pig sty will sell if it is priced correctly, but the Taj Mahal will stagnate if it is over-priced. A listing that has been on the market over a year with no showings and no offers and no price adjustments has some problems. The first being the agent that took it in the first place.
Love your post, we all make our own choices. If you aren't happy look within yourself. Learn from your mistakes and move on. Complaining gets you no where fast.
Life is too short if you aren't happy change your prospective. It's a choice!
Hi Kate!
Thank you so much for your awesome comment on my blog, and flagging it. I came to check out your blog and wow! This is something I take to heart, we do our jobs right, we do our jobs everyday, and we take care of our clients the right way. Everything will work out, and when it doesn't, WAH, that's just how this biz goes. This was an excellent read, thank you for speaking what I think a lot of agents have on their minds! :)
-Lisa
Great post Kate. There are a lot of whiners out there; you sound like a winner.
I can honestly say I do it because I love the sport :wink wink:
WELL said Kate! I LOVE this job and love helping others sell their shacks and buy their dreamhomes! I couldn't be happier!
Congrats on that little gold star too!
that was fantastic! you have such a grateful spirit! I love you for it! :-)
Yes we do have choices and real estate is good, but some time people do yank your chain a little. Its sometimes is hard to pick those people out. I like to help people and not judge sometimes I get burned.
Kate, I have always maintained that this profession pays very well. I've made way more money as a REALTOR than I ever made working for a salary. Sometimes I work long hours and sometimes I work for nothing, but overall it's all good.
Such a great post. Thank you for your time and your expertise. I think you said it all.
Kate--Congrats on earning a Gold Star for this post. I was your fourth comment so I guess I missed it. I am glad I came back today and saw your next post. I appreciate your friendship.
Thank you for this post, Kate. It's refreshing and so right on. Great job!
Great post! I have always said that if you don't like something, you either make a change or choose to accept what you have...either way it is a choice.
It is those deals that go well that keep us all going. The ones that are more of a 'challenge' keep it balanced.
What you say is true. But for agents just starting out, often times they'll take whatever they can get.