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How Hard Is It To Become a Realtor?

by The Colorado Springs Group™

We get asked this question a lot by our clients. We like to think it's because they see how much we enjoy our job and how simple we make it seem.

Becoming a Realtor is easy in our opinion. Being a successful Realtor is not. Way back when I first went to school, the data I was given showed that 95% of the people in the class would not last 5 years. The remaining 5% would fail before reaching the 10 year mark. Having a license and having success are 2 totally different things.

Getting licensed involves taking classes, passing state an national tests, background checks, etc. currently in Colorado. You can take the tests multiple times and only need to pass with what I believe is currently 80% correct. Then you fill out a few applications, pay a few fees, take a course on ethics and how to use the MLS. Boom, you can sell a house. All too often someone decides one day that they are going to be a Realtor, and put all of the fees on credit cards... last about 6-8 months and then go back to a regular job. 

Here's my opinion on why most fail... they do not have a solid background in business and/or sales & marketing. I've met very few Realtors who have unfriendly personalities. Most that I meet don't have backgrounds in the areas I've stated above. You can have experience being a great salesperson at a salary paid position, but being self employed is whole different level of pressure that will affect your skill set.

Some of the big corporate companies are to blame as well, with the rah, rah, rah, we are a big company and that's all you need to succeed. I've been with the big companies and I can tell you that most people who get into the business do so because they know 1 or 2 people who need to buy or sell a home. As soon as they are licensed they get with a big company and let the company keep large portions of their commission on these first 1 or 2 homes in exchange for the education to help them succeed. The problem is those often end up being the only homes successfully sold.

Realtors will learn more off of our website than they will in training classes provided by the large real estate companies. Yes, they offer the big gun generic classes to get you excited/motivated but what we teach is relevant today and in Colorado Springs. Both Jessica and Kevin have taught classes to Realtors for several large companies over the years. Our classes overfill and the Realtors always request more... but the companies won't pay for them... we've taught them out of goodwill. Goodwill helps when we have a client involved in a transaction where a former student is the other agent.

2015 February Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results for February. Single Family & Patio Homes

Black Forest: 14 Sales for a total dollar volume of $6,022,150

Briargate: 56 Sales for a total dollar volume of $16,436,487

Central: 52 Sales for a total dollar volume of $8,650,820

East: 43 Sales for a total dollar volume of $7,856,090

Fountain Valley: 100 Sales for a total dollar volume of $19,822,675

Falcon - Peyton: 40 Sales for a total dollar volume of $10,674,120

Marksheffel: 13 Sales for a total dollar volume of $3,253,948

Northeast: 64 Sales for a total dollar volume of $14,495,233

Northwest: 29 Sales for a total dollar volume of $9,215,540

Northgate: 23 Sales for a total dollar volume of $8,318,679

Old Colorado City: 23 Sales for a total dollar volume of $5,090,737

Powers: 63 Sales for a total dollar volume of $14,688,562

Southeast: 39 Sales for a total dollar volume of $5,610,892

Southwest: 35 Sales for a total dollar volume of $10,684,530

Tri-Lakes: 30 Sales for a total dollar volume of $12,895,512

West: 14 Sales for a total dollar volume of $3,645,650

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 2/1/2015 through 2/28/2015.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

 

Features of a Realtor

by The Colorado Springs Group™

What's important to you in a Realtor? Before I was a Realtor, it was being comfortable with the Realtor. Now that I am a Realtor, I'm surprised that comfort was enough for me.

You'll see advertisements of "I'm the best", "#1", "We are faster", "We are the biggest", "If you're not happy, fire me", "Best Negotiator", etc. The funny thing is, you rarely see it advertised "We Listen".

With our company, Jessica is very quiet and reserved, and Kevin is animated and go-getter. Both of us know first and foremost that listening is going to lead to more success than anything. Unless there is a clear understanding and line of communication in what is expected in finding or selling a home, the chance of success is limited.

It doesn't matter how great we are at negotiating if we don't know what is most important to you and why. How can you benefit from any features of a Realtor if they are not listening to you and your story?

Open Houses

by The Colorado Springs Group™

Open houses have evolved over the years. We do still do them when our clients request them, but we do not recommend them. There are statistics that state somewhere around 11-12% of open houses sell, but this includes builder open house models. We've done over 1,000 open houses and not once has the home we held open sold due to the open house. We have had many buyers decide to use our services to eventually buy a home after meeting us at an open house. We have had sellers who met us at an open house who later listed and sold their home with us.

Open houses benefit the Realtors much more than they do the seller. Years ago, open houses were a great idea because it was a free pass to see the inside of a home. Our MLS allows us to put in 35 photos and virtual tours (as of today) per listing, so the need to get a free pass inside is greatly diminished. Neighbors will still show up just because of curiosity, and they aren't necessarily looking online at all because they are not in the market to buy a home.

Safety and security are another big issue. When we do an open house, we blast the information online so people see it... it's our job. We have signs that are put out that will draw attention. While these sound like good things, how easy do you think it is to greet everyone and keep an eye on them as they go throughout the house when there are 10-15 people? Keep in mind these are people we've probably never met before.

As the seller, you want me to engage in conversation with people to tell them about your home. That's understandable, but at the same time you want me to make sure no one takes or damages anything, correct? That's understandable too. These are 2 basic things but I'm sure you understand the dilemmas at play here. If I do a good job marketing lots of people will show up, but that can create a problem with your 2 basic understandable requests.

Displaying blog entries 1-4 of 4

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686