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Our very own National Association of Realtors statistics show that the average age of a realtor is 57 years old. What does this mean for the buying public, our clients, and what does this mean for our industry? Within almost every business you will find your sages and those who have gained wisdom over time in serving their highest obligations to their customers.
As Realtors and in my case a Licensed Real Estate Broker operating in the Mortgage Banking Industry, we come from many different experiences and often several vocations before choosing a career in real estate. When our clients come to us for professional assistance in buying, selling and financing their homes and investments, they may have no idea who we are or where we came from. This is often true even when we are referred by a happy past client or in my case, realtors I have trusted relationships with.
The customer is relying on us to tell our story, relate our experiences and prove to them we have continued to grow through education and mentorship while working daily in our industry. Both realtors and mortgage lenders are required to take continuing education each year. Mortgage Lenders must renew their NMLS licenses, (Nationwide Multi State Licensing System) every year, while realtors must renew their brokers or salesperson’s licenses through state agencies every 4 years. Is that it?
I chose the title for this writing because both realtors and lenders in many cases have renewed their licenses without updating their skills, learning new tools and most of all understanding their role in creating a Raving Fans experience. By the way, Raving Fans is an incredible read proving we as consumers really don’t have much of a grip on what a great buying experience really is. We have been treated so many times to mediocre care as a consumer, that we have come to expect poor communication, delays and problems as normal. There will always be those times that a situation may come up beyond our expectations and our ability to control the final outcome. This is where the consummate professional or what I call the “uncommon realtor” comes into play. Knowing how to respond, what to do and how to convey that solution in a positive way can only be learned by having great teachers, mentors and broker owners dedicated to our profession.
When I am invited to work with veteran realtors and newer realtors, I always ask questions about their background, knowledge and experience. That information gives me the opportunity to help guide them through the lender part of the buying and selling experience. My main question is; who are your mentors, teachers and brokers that will train you? Do you have a professional coach or are you involved o a coaching system? Who has your back? Most all major franchises have a complete training program as well as refresher courses for their agents. Agents in private small to medium brokerages are often on their own when finding the right people and places to gain knowledge, so that their experience in this great business is a positive one.
Each local Board of Realtors has an education committee dedicated to educating their Realtor and affiliate members. We also have many vendors that provide realtors and lenders with support. The title profession, PMI companies, insurance agencies and more also offer ongoing training.
The National Association and the California Association of Realtors, Mortgage Bankers and California Association of Mortgage Bankers all offer education everyday somewhere either online or in person.
There are some folks that believe required ongoing education is enough and listening to CD’s, watching videos and attending motivational seminars or webinars is hokey. We routinely send out educational materials every week in the form of audios, videos and upcoming classes and posts like this one. You may want to ask your realtor or lender when and what was the last time they received such valuable training and education. Remember this may be the largest most important purchase of a lifetime, and you want to get it right. Communicating with your real estate and mortgage lending professionals occurs through several different methods. In person should always be your number one way of communicating, followed by phone, email and text.
Buying a home, whether it is for your family or investment can and should be an exciting fulfilling experience. Make sure you let your real estate agent and mortgage lending professional know all of your expectations upfront including asking them what are their expectations of you! Watch The Video! or on Facebook!
This is your American Dream!