Today I was asked what is the difference between an experienced full-time agent versus a new agent or a part-time agent. Great question.
As an instructor of Real Estate I definitely don’t want to steer anyone away from new agents, they are excited, hungry and ready to get to work but there is a catch.
New agents believe they can run out after passing the exam and just start selling real estate. Although from a legal perspective in the state of Florida once you have signed on with a Brokerage this is true.
But should you?
Should you run out and offer your newly found services to a client that is making one of the largest financial decisions in their life? The answer is absolutely not.
Being a trusted Realtor is a Career, and with most careers it takes training, not just book training, actually working alongside of an active Broker through transactions, learning each and every process, getting to know lenders and what each one specializes in, meeting home inspectors and walking through an actual inspection to know what to expect, meeting with insurance companies, appraisers, going to local planning meetings, the list goes on. You are learning a NEW career, one that can and will negatively impact the client if not done with great skill and diligence.
Realtors can not do their job without a tribe of trusted professionals, this process includes lenders, appraisers, home inspectors, WDO inspectors, insurance companies, title agents, attorneys, surveyors, contactors,and more.
The relationships are built over time and respect is earned. A new agent needs guidance, leadership and partnership in order to be successful. So yes, a new agent that is on fire to get started absolutely can be the best person for the job “IF” they have done their research and selected a brokerage that has an active, experienced broker that will walk them through each transaction for the first year, help them navigate the waters when they get rough, and they do and be there for them at 11pm at night when they are in a panic to get their offer in and be competitive in a multiple offer situation.
New agents need to be prepared, here is just one example;
New agent shows the property and the buyer loves it. The agent quickly writes the offer and it’s accepted.
Now the buyer puts down a $5000 binder deposit, $500 for a home inspection, $300 for a WDO inspection and another $450 to order the appraisal. So now the buyer is at $6,250 and the inspection reveals that the home has polybutylene pipes and termites. The buyer can back out and receive the binder deposit back but the other $1250 are now gone! The agent may be able to negotiate the pipes being replaced (which is a huge expense) but WHAT IF the seller says NO?!?! The buyer is out the money and the search begins all over again.
You want an agent that is ready to look for roadblocks that may come up not just in the inspection, or with insurance, lending or title issues. Although Realtors are not inspectors they should have enough experience or a broker with experience at their side that can be prepared before you start spending your hard earned money.
So what’s the difference between a New Agent and an Experienced Full-Time Agent?
Experience, Relationships, Knowledge, at Big Fish Real Estate we pride ourselves on doing more than the average Realtor. We Do More.