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Morals, ethics and the keys to the kingdom…

March 8, 2011

Old KeysI read a fantastic post yesterday by Dennis Erickson about commissions (and more). At first I was afraid to click on the post, I feel the same way talking about commissions online as I do in person… I run as fast as my little fat feet can take me.

I clicked…. naturally….(curiosity killed the cat Andrea, I heard in my head….)

Dennis raises some very interesting points about our business. He talks about experience translating to dollars. Is someone who just got in the business worth the same as someone who has years of experience? Interesting concept, I honestly have not thought about it in this light. We were all new agents at one time, I wonder if our thoughts on this change over the years as our experience grows. Of course I know that having a license for years doesn’t automatically make for a good agent, that is not what he is talking about here.

The idea of an “apprentice” program is a good one. When I first started I had a mentor who would get a percentage of my first 2 deals, and they were to be there for me. The program, for me, did not work as it should have. When there is no guarantee of payment it can really fall apart fast. I did tag along with a very successful agent for quite a while. She taught me how to do a market analysis, she was a whiz at marketing, I can say I learned a great deal from her. But when I actually listed my first house I was on my own for all intents and purposes. I was scared to death! Same with my first buyer.

He also talks about morals and ethics, it would seem his state association takes someone at face value. Check of the box that says you have never been convicted of a felon… and voila, you have never been convicted of a felon. That is not good, not good at all. I would hope in CT that the Department of Consumer Protection does what they can to find out the information. After all, it is public information. A good nosey neighbor can find out your troubles in life if they want… with little effort… should you be involved in any legal mess in life. Do our state associations or the DCP really check those things out? I wonder….

After all, we are given the keys to the kingdom, big, small, not only the listing agent is trusted with the keys to someones home, their castle. We are all effectively handed the keys when a listing hits the market. Given what Mr. Erickson revealed about his own association, this is a chilling thought.

His post is great food for thought and well worth a read. Check out “Will You Reduce Your Commission? Yes!”.

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