This happens all the time to real estate agents and we all know it's a part of what comes with our job, but that doesn't mean I have to accept it. I'm talking about people who think it's okay to make appointments and not show up.
In case anyone reading this doesn't understand how being a Real Estate Agent works, let me tell you.
Being a Real Estate Agent is like owning your own business. For the most part, we bear all of our own expenses. We pay for everything that is required just to have a license: continuing education, dues, MLS membership, Board of Realtors membership, etc. We also have to pay for most of the tools and office supplies we use: computer, printer, fax machine, lockboxes, PDA, paper, business cards, signs, name riders, postage and on and on and on. Our Brokers generally help out and give us access to printers, phones and fax machines, but that is only good for when we are in the office. A full-time Realtor must have a full office set-up in their home because our customers and clients expect us to work all hours, seven days a week. If we don't have an office at home, we are useless to someone who calls or e-mails us in the evening.
When we work with a Buyer (except on a few rare occasions), we willingly take on this obligation without any guarantee that we will ever get paid for our services. We use our own vehicles (and of course we pay for our own gas) and drive people around from house to house. Some buyers will look at as many as 30 or 40 houses, or even more, before they consider making an offer. I have worked with people who have looked on and off for a year or more before they make an offer. And that's assuming that they will ever make an offer. I have gone out on countless house hunting missions with prospective buyers who you never hear from again.
When we work with Sellers, we make a huge financial commitment to market their home. Most agents have their own web site, create virtual tours, print custom flyers, pay for print advertising, hold open houses and more. All of this is done in an attempt to find a buyer but again, there is no guarantee that this will actually happen.
Real Estate Agents do not get paid until all of the legal papers are signed and the property changes hands. The check we are handed at the closing table is made payable to our Broker, not the agent. The Broker normally takes a small percentage off the top - anywhere from 2% - 8% - it varies from Broker to Broker. After that, there is another split. This split can be as much as 50/50 but is usually somewhat higher than that. The Broker keeps their share and writes a check to the Agent. There are deductions taken out the of the agent's share like Errors and Ommissions Insurance that must be paid on each transaction. What is left is our Gross Pay. Taxes are not deducted so we are required to file estimated income tax. Some times there are disputes between the seller and the buyer and in order to keep the deal alive, the Agent will often offer to pay for the item in question. This can be hundreds of dollars and I've done it quite a few times.
Now, having said all that, I am not complaining. We know that these are the conditions of our job. My only complaint is that some people give us no respect. They make appointments and do not show up. We rearrange our day to make time for what we consider to be an important meeting - but the person has no respect for this. They either doesn't show up or they are late by as many as 3 hours (or more) and expect us to still be waiting for them. We are not even given the consideration of a simple phone call.
I'm just saying...
