Life as REA in todays market

Had a phone call from a REA that I had dealt with when buying my house over 3 years ago, wanted to know if they could call for an appraisal - was surprised after so long but said OK.
Young woman came to the house, had a look around and then sat down to explain the market to me, I explained I was retired but had spent over 40 years in the business and I wanted to know why the contact and reason for the appraisal.
'E' said she had to do a certain number of appraisals a month as well as letter drops, cold calls etc because listings were scarce as well as having to keep up her monthly sales. The poor girl said she was naive when she first began as a REA and she has nights when she cant sleep due to pressure as she has 2 children to feed.
Reminds me of my RE days doing sales and the pressure - thank God for retirement ...

 

Sales targets, KPI's pffft.

She must have fallen for the three card trick - paid a training salary/pitiful comms, debit/credit system, locked into an expensive car lease (keep them hungry).

Work them till they drop being an understudy or assistant doing all of the grunt work whilst slowly building up their own profile and networks.

When the market turns, they'll have to start performing miracles to hit targets or they're out on their ear.

 

Yeah I really feel for sales agents right now. Normally such an honest and respectful bunch. Shame to see them falling in hard times.

 

It's a tough industry, however don't tar all who work in it with the same brush!

 

I know of a few who were laid off last year before anyone else noticed that the downturn started to bite.

 

I know just playing. Have a friend who is about to start, he’s a good guy. Think it could be a struggle for him.

 

Having been there,its a really hard gig, the perception of shiny suits, nice cars, people falling over themselves to get you to list their home...............its a fantasy, it just doesn't happen.I have never worked in an office environment where your work colleagues will smile and be nice to your face, and immediately cut you and shaft you if it means a listing.Think of it like throw some chips out of the car window at the beach, and watch the seagulls...........like a potential house listing and a real estate agent vying for the business.I resigned my position last week.

 

Hope you are on a more supportive and fulfilling path now.

From your position were you seeing a market that is ramping up? Clearance rates seem to point that way but volumes beg to differ. Being at the coal face I figure you might have a unique perspective.

 

Car salesman and realestate agents I personally hate them both, never came across a good one in my life.

 

That's one observation, REAs I have met always drive a European car, almost brand new, fast and sweet talker, in suit, and give me a feeling money just flow, it's an excellent career... While I am driving a faded glory, a BA XT Falcon... I think until I signed the contract, they must be thinking: Is this guy for real? What a waste of time!

 

Good luck to you @jim1964. What are you going to do now? Sales is a hard gig

 

You've fallen for the show and glitz - agents are ego driven (like to have nice things, get that listing, get the sale, get the comms etc) but their neck is also in the noose - high costs to maintain the impression of success, they have to be hungry in order to be successful. Money changes them, the more successful they get, the more arrongant they can become. When the market turns, then it is only the ones with a wide network and depth of market understanding that are able to survive.

 

Couldn't be happier with the agent that sold my previous house, she helped me out of a hole when I discovered termite damage when it was up for sale, also the agent who sold me my present home, we went and had coffee together and laughed about life as an agent - wouldn't hesitate to use him again if ever I sold my present home.

 

So whats next for you jim?

 

There's good and bad agents, same as every industry. I bet there's good and bad teachers, good and bad nurses, good and bad accountants. Its part of the reason we made a conscious decision to be a PM-only agency though, to focus one doing one thing well without the added distraction, volatility and personalities that sales agents tend to bring.

 

You must have bought and sold a lot of cars and houses to come to that conclusion ...

 

i have to say i know a GREAT agent in the syd western suburbs, fairest agent ive ever dealt with, a rare gem. Paul Wallace, property central. i would not hesitate to use him to sell again, and recently used him to purchase. no funny business kind of guy

 

Or have been an auditor in a previous life.

 

Hit the nail on the head.

 

Going back to developing,its easier, but with a big name builder.