Hawaii Randy's Real Estate Opinions: Inexperience is Absolutely No Excuse

Inexperience is Absolutely No Excuse

Professionalism is heavily discussed during CE classes (continuing education) I teach for real estate agents.  When the State of Hawaii issues a salesman’s license to a real estate agent, the state is not saying you are qualified to properly represent a home buyer or a home seller.  They are saying you are licensed and will be held to a set of standards.

As a professional you will honor your fiduciary duties to your client.  Those duties are:

      • Loyalty
      •  Obedience
      •  Disclosure
      •  Confidentiality
      •  Reasonable Care and Diligence
      •  Accounting

 

The one that I feel needs more focus on by new agents and their brokers is Reasonable Care and Diligence:

The standard of care you give your client is that of a competent professional.

       You are required to prepare yourself through education and study.

       You are not required to perform services outside the scope of your license.  In those cases you should recommend your client seek the appropriate professional.

       Accounting, legal advice, engineering, tax advice, etc.

 

What I tell new agents is that there are no short cuts.

·         Learn the business!

·         Take classes.

·         Team up with experienced agent.

·         Get your broker involved in all of your dealings.

·         Do not take on anything you are not qualified to do.

·         And please refrain from inserting opinions on things outside the scope of your license.

 

Please remember if you are representing a client you are required to act as a professional.  Inexperience is absolutely no excuse.

 

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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 8 commentsRandy Prothero • September 04 2011 04:20AM

Comments

You are absolutely correct. The six (6) points you mentioned are good as well. I need to give this to some of the new agents in  my office.. Good Blog.

Posted by James Muhammad, RE/MAX Champions (RE/MAX Champions) about 7 years ago
Well said Randy, With so many new agents coming in every year, the mistakes they make could cost a client dearly. Whether a mentorship program, or having the broker involved in the first 6 transactions (like my office does) there has to be a way to protect a client from inexperience Phil
Posted by Phil Leng, Phil Leng - Retired (Retired) about 7 years ago

James - Thank you

Phil - Shame on the brokers who do not keep a watchful eye on their new agents.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 7 years ago

Randy, this is excellent advise for agents in any state. Know your contract and have your broker oversee all transactions - it's the key to success in keeping an agent out of court.

Posted by Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty, Sun City Grand in Surprise Arizona (Leolinda Realty) about 7 years ago

Sounds like the same list of what a good mate in a relationship would subscribe to as well. Thanks for reminding us of our duties, responsibilities when we hang out a real estate shingle.

Posted by Andrew Mooers | 207.532.6573, Northern Maine Real Estate-Aroostook County Broker (MOOERS REALTY) about 7 years ago

The biggest mistake...treading on areas you are inexperienced in including short sales.  Learning on the job is not the best way!

Posted by Gary L. Waters Broker Associate, Bucci Realty, Fifteen Years Experience in Brevard County (Bucci Realty, Inc.) about 7 years ago
This is my biggest reason for turning away an agent that has asked to sing on with me.
Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 7 years ago

Leolinda - I also do mediations and find most could have been prevented if the broker was involved.

Andrew - I think that most agents in this forum, do not need the reminder as much as those not in this forum.

Gary - When asked how did I handle stuff when I was new, my answer was I used three approaches.

  1. I teamed up with an experienced agent.
  2. I had my broker review everything I did.
  3. I referred when I was not qualified to handle it.

I still do numbers 2 and 3.  For item 1, I team up with new agents, helping them the same way I was helped when I started.

William - I have a simple policy.  If my name is involved it has to be done the right way.  I will work with new agents as long as they do not put my reputation at risk. 

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) about 7 years ago

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