One of the peculiarities of the real estate biz is that established agents rarely flame out. They don’t suddenly chuck their A-frames in the dumpster behind the office. Instead, most veteran agents fade away, unnoticed and unneeded. Why is that, Daddy?
Sure, real estate isn’t like it was back in the day, but if you were hot in ’85, or ’95, or ’05, shouldn’t you be hot today? Not really. Most of the agents I knew back in ’05 are either gone or semi-retired. What does it say about Silicon Valley real estate that seventeen years’ experience makes you some kind of elder statesman? I’ll answer my own rhetorical question: that it’s easy to become yesterday’s news.
Is it technology that’s weeding out veteran agents? It shouldn’t. Technology doesn’t demand much of an agent, and if you could handle 2005 real estate tech you can handle 2015 real estate tech. You don’t need to go to coding camp to sell homes.
But you do need to like your clients, and the buyers of today aren’t the buyers of twenty years ago or even ten. They’re far more driven, and that’s what got them here. They’re far more demanding, because they’re from a more demanding environment. They’re far more competitive, because they’ve always had to compete.
You also need to believe in the market, which is the same thing as believing in your clients, because your clients are the market. You need to admire and respect the market, just as you need to admire and respect your clients. The first time “this market is nuts” slips out of your mouth, you’re done for.
And you need to bring passion to your game, as much passion as your clients bring.
The bar has been raised. The market is faster and more punishing than ever, and not every one, agent or buyer, can keep up.
But for those who can, these are exciting times.
copyright © John Fyten 2015