Savvy
 agents 
learning 
new skills


By John Adams

For the AJC

Real estate sales is one of the most stressful jobs I can imagine.

First there are the buyers. They begin their pursuit of the perfect house by demanding unrealistic prices and unavailable loan programs. And if anyone should hint that the seller is pushing back on a low offer, well, let’s just wait until next year to make this purchase.

Next is the seller, who expects the agent to make a silk purse out of a sow’s ear. Many a seller today has largely given up on a sale anytime soon and is testing the waters. If a buyer comes along who is willing to pay the price, then so be it.

And both sides expect agents to be available 24 / 7 for consultations, showings, information and even personal advice.

Add to the mix a flurry of lowball deal-killing appraisals lately and the looming expiration of the very successful first-time homebuyer tax credit, and it hardly pays to stay in the real estate sales business today.

That’s why the Georgia Association of Realtors has seen a dramatic loss of membership. At year end 2007, the GAR boasted 48,244 Realtors. Today, that number has dropped to 33,716, and that doesn’t reflect the agents who have “parked” their license at a broker of convenience until the market improves.

Savvy agents are adding investing and property management to their skill sets. There are reasons to do this now:

● While the residential purchase and sale market has dwindled, the rental market has expanded. Amateur landlords are having to compete with a greater selection of rental homes, and staying occupied during a recession is more important than ever. 


● Some owner-occupants facing tough times have decided to move in with friends or family and try to rent their house rather than go into foreclosure. Their strategy is to use the rent to help make the monthly payments. Full-service rental agents know that the key to success is knowing how to get the available rental in front of the maximum number of prospects quickly, and that means the Internet. And finally,

● Because they are positioned to see the best deals first, many agents are dipping into personal savings to purchase rental houses at prices we have not seen in decades. They plan to rent these houses now and hold on for the recovery.

John Adams is a broker and investor. He answers real estate questions on radio station WGKA (920am) every Saturday at noon. For real estate information, visit www.money99.com.