Hawaii Randy's Real Estate Opinions: Which REALTORS® Will Remain in 2010?

Which REALTORS® Will Remain in 2010?

2009 was a tough year for many real estate agents.  We will soon find out how many stay and how many leave the business.

I and many of the area full time professionals seemed to have had a pretty good 2009, considering the challenges we faced with lenders and government tinkering.  Many others agents did not make enough money to cover their costs.  We will soon find out how many of those agents will to go back to flipping burgers or whatever they used to do before joining our profession in the search of easy money.

Being a real estate agent is not only a profession, it is a business.  Like all other businesses it requires a few basic things to succeed.

  • Capital
    • It can be expensive to get a business off the ground.  It also takes a period of time to generate any income.
  • Training
    • Real estate is a complicated business.  It requires a lot of training that never ends.  Even after being in the business a number of years and a repeat top agent in my company I still attend regular training classes.
  • Business Plan
    • You need to have a comprehensive business plan that includes all of the items on this list along with a financial plan.  Both have to be reviewed regularly and adjusted to the market conditions.
  • Marketing
    • You need to have a comprehensive marketing plan for acquiring clients along with a plan for marketing the properties you will be selling.  No marketing, no business!
  • Customer Service
    • When a potential client comes to you, what will make them choose you over the other hundreds of agents in the area?  Once they become your client, what will make them refer family and friends to you?  Satisfaction is not enough, they need to be wowed!
  • The Ability to Compete
    • Remember at all times there are hundreds of real estate agents in your area.  Within my county there are actually thousands.  To be successful in real estate you must be much better than average.

As we come to the end of another year many thousands of real estate agents around the country will be faced with the tough choice of staying or leaving.  If they are holding on with the hope of accidently getting a sale next year; do yourselves and the public a favor and move on.  If they are planning to be a professional, continue to train and provide top flight service to your clients, than you are the type of agent the public deserves.

Good luck in 2010.  It will be a year of many challenges.

 

--------------------------------------------------------------------------------------------------------

Randy L. Prothero, REALTOR®

Broker-in-Charge, ABR, AHWD, CRB, CRS, e-PRO, GRI, MRP, SFR

eXp Realty

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.  His luxury home listings sell faster and for more money.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 20 commentsRandy Prothero • December 28 2009 12:56AM

Comments

I have to agree with you - it will be a year of challanges.

Happy New Year,

John

Posted by John Occhi, SRES,CPRES.ePRO - Temecula-Murrieta CA Real Estate (Mason Real Estate) almost 9 years ago

Hi Larry-

Preparedness in the business of your business if not often discussed.  Good thoughts.

--Sara in San Antonio

Posted by Sara Woolford & Steve Golson, ALHS (iTexas Realty Co.) almost 9 years ago

Aloha John - The rules are changing as we speak.

Sara - Thank you, I am Randy.  LOL

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 9 years ago

Randy, I think we might lose membership in our local boards, but the people who leave probably should.  Anyway, see you on Wednesday!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 9 years ago

Patricia - See you on Wednesday!

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 9 years ago

I am sure we will lose several in our area -- I am however looking forward to 2010 - Good Luck to you!

Posted by Norma J. Elkins, Realtor - Elkins Home Selling Team ( Elite Realty Group) almost 9 years ago

Randy,

Since I don't have fond memories of real estate being "easy," I am comfortable with the thought that 2010 will be challenging.

Bring it on...

Posted by Mike Jaquish, 919-880-2769 Cary, NC, Real Estate (Realty Arts) almost 9 years ago

It will be a year of challenges but I think a much better year for us all as the market shifts in a more positive direction.

Happy New Year Randy!

Posted by Monika McGillicuddy, Southern NH & the Seacoast Area (Berkshire Hathaway HomeServices Verani Realty) almost 9 years ago

I haven't looked it up in a couple of months, but as of October, NAR membership was at it's lowest since early 2005.

Posted by Fred Pickard, Hershey, PA (Fred Pickard Innovations Realty Inc) almost 9 years ago

Randy,

Over the last month or so, my office has lost several agents who've been with us for a while.  This year we've also added some good new agents.  As it turns out, the new ones that have come on board are more productive then the ones who have left. 

The real estate shakeout certainly is not over.  It seems to be an ongoing process in this industry.

Posted by Brian Block, Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President) almost 9 years ago

Our office has had it's share of ins and outs... I think right now there are still only a few productive ones. Bottom line, there is continuing education and extra education for all and it benefits to learn more.... Take for instance the last one we did....that was a BIG learning experience huh?

Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) almost 9 years ago

Randy...being a warm body in this market is not good enough!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) almost 9 years ago

2009 has been a very challenging market and it appears that to survive we must go back to basics. You really must love this business to stay in it because it is far from easy and requires constant education and embracing of new ideas and systems.  I have never ever been bored and I've learned to be comfortable with being uncomfortable.  It has been sad to see many agents leave the business and I do wish them well.  Some of these were very dedicated and great agents, unfortunately, these have been most challenging times.  Let's home 2010  is not a repeat of 2009, but much better!!

Posted by Dawn & Charlie Tetro, Real Service Real Results (PalmerHouse Properties & associates) almost 9 years ago

Hi Randy! The ranks are changing but many are still in denial. Very exciting times in many ways, and I love all the new 'things' out there in the world of RE technology, social media, etc. All the best to you in 2010! Aloha.

Posted by Susie Blackmon, Ocala, Horses, Western Wear, Horse Farms, Marketing almost 9 years ago

Hi Randy,

So good to see you in the Rain again. I'd agree with your analysis, we've been thinking that for a few years now.

It appears our association membership took a bigger hit in 2008 than 09. It looks like 2010 (here) will be about the same.  Now with that said, I know a lot of others are now doing TWO jobs and r.e. has become part-time for many. I think that's how some have continued their membership.

Posted by Lynda Eisenmann, Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co (Preferred Home Brokers) almost 9 years ago

I haven't been on Active Rain as much lately.  Between business, my son's sports and Board of Realtor commitments, I have been keeping some crazy hours lately.  For 2010 I have decided I need to dedicate more time here.  It has been a huge benefit to my business.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) almost 9 years ago

Randy, I just wanted you to know that I included you in my post today as one of the good Business Plan of 2010 to follow.

Posted by Loreena and Michael Yeo, Real Estate Agents (3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.) almost 9 years ago

Very good point Randy. I think loan officers are also going through this though process as well. I've been in the market for over 18 years and hope to keep going inspite of the difficulties of this market.

Posted by Anthony Ebright - NMLSR ID #247647 Purchase and Refinance Mortgages (FHA, VA, Conforming, Jumbo - Wells Fargo Home Mortgage) almost 9 years ago

Hi Randy - I'm still here, but making a lot of adjustments for our challenging market. It's so important to hold all of our activities (and expenses) accountable today.

Posted by John Novak, Henderson, Las Vegas and Summerlin Real Estate (Keller Williams Realty The Marketplace) almost 9 years ago

Lorrena - Thank you.

Anthony - Loan officers are definitely going through this process.  Many have left, more will leave.  The best will still be standing.

John - In a changing market everyone needs to be making adjustments.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 8 years ago

This blog does not allow anonymous comments