14
2012 September - October
Serving the Business Needs of OUR Professionals
Capital Area REALTOR®
Rookies vs. Veteran Agents: More Closely Aligned than You Think By Michele Lerner While rookie agents and seasoned agents may seem divided by their age and experience, successful REALTORS® actually have a lot in common regardless of how long they have been licensed. Developing a professional reputation, respecting other REALTORS®as well as yourself and, above all, listening to your clients are key elements to success regardless of whether you network at a country club or a nightclub. Melinda Estridge, owner of The Estridge Group at Long & Foster REALTORS® in Bethesda with almost 25 years of experience, says the highly-educated and professional buyers and sellers in the D.C. area raise the bar for REALTORS®, who need to be extremely welltrained to overcome a lack of experience. Estridge recommends that new REALTORS® begin as a buyer’s agent with a successful team or find a mentor who will provide guidance through complex transactions. “New REALTORS® cannot succeed in this business without the help of other Realtors who are willing to let them shadow them,” says Courtney Abrams, a REALTOR® with Evers & Co. Real Estate in the Dupont Circle office licensed for two years. “It’s critical to have a mentor you trust to help with unexpected issues.” Beverly Nodel, a REALTOR® with Evers & Co. Real Estate in the Chevy Chase, D.C. office with 29 years of real estate experience, says that working in a collegial atmosphere continues to be extremely valuable to her success. She repays the assistance she receives from other agents by helping newer agents and sharing business. Daniel Schuler, a REALTOR® with The Estridge Group at Long & Foster REALTORS® in Bethesda with less than two years of experience, says working with a team has been educational as well as a confidence-booster. “The learning curve in real estate is exponential, so when I’m meeting clients it’s extremely helpful to know I am working with a team of experts,” he says. Positive interactions with other REALTORS® can be as important as experience with clients. “REALTORS® need to be allies, not enemies,” says Estridge. “It’s important to be a team player within the real estate business. Another agent is more important to you and your professional reputation than any client.” Phil Kelley, an associate broker with Re/Max Realty Group in Gaithersburg with 27 years of experience, says he has built his reputation by treating people fairly and always staying professional. Kelley also says listening to buyers and sellers and always acting in their best interests is critical. Nodel says some clients complain that their previous REALTOR® showed them properties they didn’t want to see or couldn’t afford. “It’s important to listen to what buyers want and then explain that you’ll show them properties a little below their price range and a little above it so they can get a better feel for what’s out there,” says Nodel. “It’s very important to listen to your client rather than to your own agenda. It’s not about what you think they should buy.”
Networking For rookie agents, part of the challenge is finding clients to whom
they can listen. Even as social media has expanded REALTORS®’ methods for reaching potential clients, both new and seasoned REALTORS® rely on physical interaction to grow their sphere of influence. “I don’t cook, so I’m always out of the house at restaurants and meeting people,” says Sammy Dweck, a REALTOR® with Coldwell Banker Residential Brokerage in Georgetown licensed for three years. Dweck is involved with a variety of groups such as the Rookie Committee of GCAAR, the GLBT outreach group at the Jewish Community Center, the Jewish Federation, and is an ambassador for the Safe Shores non-profit group. Abrams networks by coaching lacrosse, where she meets parents and other coaches. In addition, she stays in touch with high school and college friends in the area and volunteers with the Longevity Foundation and the Junior League of Washington. “My goal is to say yes to any activity for the Walter Johnson High School alumni group and the Miami University of Ohio’s D.C. alumni group,” says Schuler. Schuler is equally enthusiastic about volunteering for open houses every weekend. “I’ve tried to meet other top producer agents in our office so that if my team doesn’t have an open house one weekend then I would be the first choice for other agents to sit at theirs,” says Schuler.
Advice for Rookies Abrams says she has garnered great experience by shadowing seasoned Realtors® on buyer visits, listing presentations, house tours and while they are writing offers. Nodel says that REALTORS® should develop the ability to anticipate potential issues. “You should be troubleshooting before anything becomes trouble by reading every contract carefully and being on top of every date or deadline,” she says. “People can handle things they expect, so be sure you’re managing your clients’ expectations and not allowing them to be blindsided by anything.” Building a client base takes time. Seasoned REALTORS® recommend that new agents start immediately organizing their contacts along with the rest of their business. “Every REALTOR® should set up a contact management program with complete information,” says Estridge. “You need to keep a profit and loss statement in Outlook and track where your business is coming from.” While gathering experience and organizing business systems are important, all Realtors® need to keep in mind that their professionalism and dedication to their clients are critical to a long career. “The best marketing you can do is to do a really excellent job when you are working with someone,” says Kelley. “Do the best you can for your clients and then it’s just a matter of jogging their memory from time-to-time to bring in referrals.”