June 15, 2009. Chevy Chase, Md. Problems.

Every part of the real estate transaction has the possibility of causing a problem. In almost all transactions, something will require the agent to finesse through the rough spots, and because of the efforts or expertise of the agent will allow the sale to proceed towards settlement. In my days as an agent, I used to call it the laying on of the hands by the agent in order to solve the problem, very like the old time Doctors to lay on hands to cure the ill patient, or the preacher to heal the illness of affliction. This would be part of a normal transaction in a normal economic times. This is one of the reasons some agents are successful while others are not, this ability to work through the issues that need resolution.

Now, these are not normal times. Despite the bad press about real estate, our office volume is high. Our number of sales for May was $112,500,000. and for April was $107,000,000., both beating last years volume. But I can tell you, if we could track the hourly rate for every agent, their hourly wage would be half of last year. In other words, if they are earning the same income as last year, they are working twice as hard, all because every part of every transaction is causing problems. Today, my first day at work, I held four serious conferences with four experienced agents, trying to figure out an approach to solve the problem. Now these agents are good agents, but just needed to sort out all the options prior to talking to their client. Appraisals are causing much trouble. Prior contracts with no releases signed by the buyer. Agents with not enough sales and trying to figure out why. Empty houses not being maintained by the seller, who moved to North Carolina when his house sold, but now is back on the market because the buyer number one could not get a loan. The issues go on and on for the agents.

The reasons for the success of the agents are not hard to find. They work hard in a professional and pleasant manner, always caring for the best interests of the client. Most importantly, they help the client to solve the problem, rather than allowing the problem to become the agent's problem. My hats are all off to the agents for solving all these problems.