Realtor ranks shrinking - Business

Realtor ranks shrinking - Business

There are 40 comments on the Honolulu Star-Bulletin story from Jan 28, 2009, titled Realtor ranks shrinking - Business. In it, Honolulu Star-Bulletin reports that:

It's tough to make the cut as a real estate agent these days. The rank and file of Realtors in the isles are diminishing as the real estate market slows down, and competition gets stiffer.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

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Stinky

San Antonio, TX

#2 Jan 28, 2009
4 years ago when the rental market was very tight with people having to compete with many others. These real estate agents in charge of rentals were charging you a sign-up fee to apply. They had maybe 30 or 40 prospective rental tenants at a time for 1 unit. They were scamming people in need of housing with this ploy. Now the shoes is on the other foot and I don't feel one bit sorry for them. I remember 1 agent who actually came out and said if we were to kick back some money he would make sure we would get the rental unit. Totally un-professional...

Since: Sep 08

Pampanga, Philippines

#3 Jan 28, 2009
No need 4 a realtor sell your own house it is so easy.
bigfoot

Singapore, Singapore

#4 Jan 28, 2009
I'm a small business owner and was looking for a commercial real estate. The realtors I met in Hawaii are totally useless. Half of these realtors are waiting to snare the big fish/high profile tenants and ignores anyone else. The other half just want to unload obviously shitty properties at high prices to collect their commission from the landlord or seller. Thank God for the recession!
Cat Manapua

Saint George, UT

#5 Jan 28, 2009
Q: What do you call a 21% decrease in Realtors?

A: A good start.

Really, these weasels are way too thick on the ground and we need to cull the herd.

Buy now! It's great - there's plenty inventory! Buy or be priced out forever! Hawaii market is different! That's what you get from these weasels.
mike

Omaha, NE

#6 Jan 28, 2009
not all realtor's are bad. a knowledgeable and quality realtor is extremely useful and will save you money and hassle down the road.
Casual Observer

San Diego, CA

#7 Jan 28, 2009
10% of the real estate agents sell 90% of the properties.
chris

Kapaa, HI

#8 Jan 28, 2009
the good realtors stick with it through thick and thin. the scumbags jumped on the bandwagon during the bubble and are jumping ship now that it's burst.
Cat Manapua

Saint George, UT

#9 Jan 28, 2009
Good to see the realtors are awake this morning.
SmartBoy

Kihei, HI

#10 Jan 28, 2009
Remember what the realtors always tell you? Anytime is a good time to buy in Hawaii, if you don't buy now, you will buy with a higher price later. There is not enough land in Hawaii to house the population.
Almost all the realtors repeat the above saying. I doubt the realtor school teach them to say that.

“Common sense - common man”

Since: Oct 08

Honokaa, HI

#11 Jan 28, 2009
The practice of real estate brokerage is essential to our society, but the profession does little to insist that its members be productive. Just as there are few part-time attorneys, there should be few part-time real estate agents, yet it seems that part-timers actually outnumber full-time career agents in Hawaii!

Imua!
Costof biz

Tomball, TX

#12 Jan 28, 2009
Stinky wrote:
4 years ago when the rental market was very tight with people having to compete with many others. These real estate agents in charge of rentals were charging you a sign-up fee to apply. They had maybe 30 or 40 prospective rental tenants at a time for 1 unit. They were scamming people in need of housing with this ploy. Now the shoes is on the other foot and I don't feel one bit sorry for them. I remember 1 agent who actually came out and said if we were to kick back some money he would make sure we would get the rental unit. Totally un-professional...
I gotta agree with you, the agent who requested a kick back to guarantee you the rental unit is shameful, unprofessional and unethical. However, I must disagree with you regarding the sign up fee or application fee collected on all rental applicants. Managing and renting rental units carries risk , ie deadbeat renters. The reason for the sign up fee or application by the listing agent/brokerage firm is to minimize that risk by pulling a persons credit and assigning office staff to verify all information contained on a rental application - ie current employment, current rental status, etc. There are cost associated with those functions and those cost are part of the process. The fact that an agent may obtain 10 or more applications in a day, indicates the agent/brokerage wants to make best selection of a renter for the subject property. Nothing wrong with that!
Stoopid Realtors

Washington, DC

#13 Jan 28, 2009
"17,325 issued for 2009-2010..."

Dang, they're almost as bad as lawyers! Who needs som many useless realtors?
no brains

AOL

#14 Jan 28, 2009
There is not such thing as "a good realtor". They
are people with little or no skills, interested only in your commission and they don't really care what you buy, as long as you buy and they get their commission. They do little or nothing to earn it.

All the burden and costs ore on the seller. With
of the work is done by the Escrow Companies, the claning and prep of the house is done by the owner,
Internet do the advertising and if someone come into your house on a Sunday Open and makes a "low ball" offer, your realtor puts a lot of pressure on you to take it, even if you lose your shirt on the deal.

Like cat manopua said: 10% less realtors is a good start. 100% should be the goal!
Hawaii 96782

Honolulu, HI

#15 Jan 28, 2009
Good realtor listen to you and help you get the best deal. Bad realtor try to make the sale no matter what you tell them. I've worked with both kinds. We can't make generalizations. The housing boom spawned a lot of these - not just realtors, but mortgage brokers, contractors, house flippers, etc. The strong and smart will survive. The "good time Charlies" will not. Darwin at work again.
no brains

AOL

#16 Jan 28, 2009
Hawaii 96782 wrote:
Good realtor listen to you and help you get the best deal. Bad realtor try to make the sale no matter what you tell them. I've worked with both kinds. We can't make generalizations. The housing boom spawned a lot of these - not just realtors, but mortgage brokers, contractors, house flippers, etc. The strong and smart will survive. The "good time Charlies" will not. Darwin at work again.
I am sure that your comment are well intended but the reality is that the realtor plays little or no part on the sell of a house. Maybe you are a realtor so I understand your position. But think about it:
most sale occurr either through Open House or through
a listing. The people with the burden are the sellers,the buyers get free service from the their realtor. But ultimatly, if the buyer likes the house, he will make the decisions and instruct his realtor to convey them to the seller realtor.

Any compensation based solely on commission is bound to corrupt the process. I can understand the realtor position, he/she got to make a buck. The the commisssion is split in so many ways that is ridiculous. Peoples get a cut of the commission for doing absolutely nothing. The system needs a drastic reform.
former potential buyer

United States

#17 Jan 28, 2009
In mid 2008, I was interested in making an investment in Honolulu for a single family home. The real estate company that I had contacted was Prudential Locations. The agent that had worked with me at that time was offering just about everything to get me to fly there - including a few things that can't be mentioned here. The agent told me that buying a home in Honolulu was the best deal going because prices will always be stable. Even for loan purpose, the agent told me that although they mainly use Wells Fargo, she could get me a better rate with other folks she knows on the island. I asked her why is it that they would normally use Wells Fargo and she said that Wells Fargo was a heavy backer of Prudential. It was a non stop push for my business and telling me how a purchase by me would help her tremendously with her special need child. Anyway, I just felt that Prudential Locations sounded more like a used car sales organization and that really turned me off from dealing with them. I ended up going with an independent who did a whole slew of research and presented it to me to decide. So as for the State seeing a reduction in the ranks of their real estate licensee, I believe that is a good thing if it weeds out those that are just looking to make money without giving a total customer service.
Gwen

Lakewood, CA

#18 Jan 28, 2009
former potential buyer wrote:
In mid 2008, I was interested in making an investment in Honolulu for a single family home. The real estate company that I had contacted was Prudential Locations. The agent that had worked with me at that time was offering just about everything to get me to fly there - including a few things that can't be mentioned here. The agent told me that buying a home in Honolulu was the best deal going because prices will always be stable. Even for loan purpose, the agent told me that although they mainly use Wells Fargo, she could get me a better rate with other folks she knows on the island. I asked her why is it that they would normally use Wells Fargo and she said that Wells Fargo was a heavy backer of Prudential. It was a non stop push for my business and telling me how a purchase by me would help her tremendously with her special need child. Anyway, I just felt that Prudential Locations sounded more like a used car sales organization and that really turned me off from dealing with them. I ended up going with an independent who did a whole slew of research and presented it to me to decide. So as for the State seeing a reduction in the ranks of their real estate licensee, I believe that is a good thing if it weeds out those that are just looking to make money without giving a total customer service.
Next time just use a lawyer. It cost a 1000 dollars to be your agent and you save 2 percent or more. I got ripped off by one of the Realtors we went through. I like David Tong, at Kobayahsi, Sugita, he does this and it cost so much less. Make sure though they are members of the Board of Realtors organization. I had a lady rip off our neighbor (old lady too) for thousands. She had no recourse as she did not belong to the Honolulu Board of Realtors.
Kaimukirich

Honolulu, HI

#19 Jan 28, 2009
Costof biz wrote:
<quoted text>
However, I must disagree with you regarding the sign up fee or application fee collected on all rental applicants. Managing and renting rental units carries risk , ie deadbeat renters. The reason for the sign up fee or application by the listing agent/brokerage firm is to minimize that risk by pulling a persons credit and assigning office staff to verify all information contained on a rental application - ie current employment, current rental status, etc. There are cost associated with those functions and those cost are part of the process. The fact that an agent may obtain 10 or more applications in a day, indicates the agent/brokerage wants to make best selection of a renter for the subject property. Nothing wrong with that!
oh cry me a bleeding river. i've managed my own property for about 15 years now and my out-of-pocket costs have been minimal. that's why you have the renter fill-out an application form and an agreement to allow you to do a credit check. when rentals are tight, you get a lot of quality applicants and can easily disqualify those who fib even a little on their apps.

it's times like these, when everyone is hurting that your quality of tenant becomes sketchy and you have less of a pool to choose from.
no brains

AOL

#20 Jan 28, 2009
former potential buyer wrote:
In mid 2008, I was interested in making an investment in Honolulu for a single family home. The real estate company that I had contacted was Prudential Locations. The agent that had worked with me at that time was offering just about everything to get me to fly there - including a few things that can't be mentioned here. The agent told me that buying a home in Honolulu was the best deal going because prices will always be stable. Even for loan purpose, the agent told me that although they mainly use Wells Fargo, she could get me a better rate with other folks she knows on the island. I asked her why is it that they would normally use Wells Fargo and she said that Wells Fargo was a heavy backer of Prudential. It was a non stop push for my business and telling me how a purchase by me would help her tremendously with her special need child. Anyway, I just felt that Prudential Locations sounded more like a used car sales organization and that really turned me off from dealing with them. I ended up going with an independent who did a whole slew of research and presented it to me to decide. So as for the State seeing a reduction in the ranks of their real estate licensee, I believe that is a good thing if it weeds out those that are just looking to make money without giving a total customer service.
My point precisely!
Gwen

Lakewood, CA

#21 Jan 28, 2009
Kaimukirich wrote:
<quoted text>
oh cry me a bleeding river. i've managed my own property for about 15 years now and my out-of-pocket costs have been minimal. that's why you have the renter fill-out an application form and an agreement to allow you to do a credit check. when rentals are tight, you get a lot of quality applicants and can easily disqualify those who fib even a little on their apps.
it's times like these, when everyone is hurting that your quality of tenant becomes sketchy and you have less of a pool to choose from.
Our neighbor who is in her 80's was using a realtor to rent out a condo she had, well the lady was not with the Honolulu Board of Realtors and when her place was damaged (25K) by the tenants, she had no recourse. If she did, I would have helped her. She had to fork out all that money to fix her place and then the realtor stole the deposit. Not kidding. I helped this poor old woman as her kids live on the mainland. They never come back to visit her. And when they do, all she is doing is cooking and cleaning when they are at her house. I had to take her daughter aside to have a chat with her. Is that how you treat your mother? Now we help her and take her to do her groceries since she can not drive. There are crooks in all professions!

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