An Interview With – Rodney Gibbs
A Dunedin Real Estate Agent.
Interview by Vanessa Austin with Rodney Gibbs 02.07.09
Rodney, please explain what it’s like working for a Dunedin real estate firm?
Firstly, I like to feel I work with a firm rather than for one. We all bring something special to the company and have our own goals and expectations to meet. Real estate agents can choose to work in an office environment or alternatively work from home. During the cold Dunedin winter I primarily conduct my business from home in the Andersons Bay area. Basically the office/real estate firm we decide to work in is owned by a real estate broker also known as the licensee. The licensee supplies the office space, toll calls, printing, and training in exchange for a portion of the commission fees made.
By far the most valuable assistance any agency can provide is the extensive training given. The ongoing support and encouragement of your trainer can make or break any agent new to the industry. Within a typical agency you find reception at front desk, commercial sales, property management, principal, training /development and last but not least the all important sales team, and that’s where I fit in. The real estate agent will perform many tasks during the course of a workday and may even be required to work in the office during evening hours. Agents are not paid an hourly wage, but need to be in the office daily, if they plan to succeed in this business.
Describe for us a typical workday, as a Dunedin real estate agent.
Sure, as a Dunedin real estate agent I would start my morning in the office. Where I may be assigned phone duty for the day, if I do not have any appointments to show clients through homes. A receptionist will direct calls to me whenever someone requires information about a property that the firm has listed. I have access to all of the company’s listings and will describe the property and try to answer as many questions as possible for my potential buyer. If the caller wishes to see the property, I would arrange a suitable time to meet. I would then call the home owner to ensure the property can be shown at the arranged time. My personal goal would be to make several appointments each day.
During the day I may discuss properties with any walk-in clients. The client may not have a particular house in mind so I like to have a one-on-one to determine what type of property they desire. Weather it be size, area, or price there is usually plenty of available listings to find a home that matches the client’s criteria. We would then view the homes that have been selected.
It is also very important to set aside time during my week for prospecting, this helps bring in new business. Prospecting is made up of various activities. This includes market research, distributing leaflets, door knocking, attending community events and building my ever expanding client base.
Do you find there is a lot of paper work with contracts, offers etc?
I feel all agents should enjoy paperwork, because there is always a lot to be done! I am responsible for filling out any offers that a client decides to make on a home. These offers can be negotiated many times before a homeowner will accept an offer made by a buyer. I must ensure care is taken during the process of drawing up offers before they are presented to my vendor. When someone wishes to list their home for sale, I will go to the owner’s home and write up a sales contract with them along with a detailed description of the property. The description of the vendor’s house can be useful for marketing purposes; it holds key information regarding any features/benefits the home may have.
What would you say to someone wanting to start a career in real estate?
New real estate agents must have at least six months living expenses in the bank, since money doesn’t come in right away even if you sell a house the first day, or the house you listed on the first day has a contract on it on the second day. You must be patient, persistent, and have a lot of friends or relatives who can refer possible customers/clients to you. If you are successful, you can earn a lot of money in good times. If not, you can lose a lot of money, because your expenses keep going on when your income doesn’t.
When selling property you need to make sure the personal and financial goals of your client are always met. Make this a priority and you will have a successful career built on referrals from satisfied clients. Have the passion to go that last ten percent. Just remember when things aren’t looking too promising keep focused on the end result. The rewards will follow.
Real estate agents have a lot of flexibility, would a forty hour week still be typical?
When I first started 40 hours quickly turned into 50 then 60, take into account open homes on the weekend and evening phone calls then you are easily pushing a 70 hour week. In exchange for my long hours I know that I have provided my clients with my full dedication and have a huge sense of achievement at the end of every week. Upon entering real estate people in the industry would tell say it’s a lifestyle not a job, and how right they are.
If you enter this career thinking you are going to start at nine and finish at five then I would say you’re in the wrong profession. The flexibility allows me to reschedule my day around clients if need be, and to chase new opportunities without being restricted to an office environment.
What are some of the pros and cons of being a Dunedin real estate agent?
Helping people find a home, and making friends within the industry is an enjoyable aspect of my work. It may sound cliché but I find it very rewarding helping people into their dream home. The nature of what I do is so personal. People’s homes are their primary assets, so it’s completely understandable when some tend to be emotional about selling. When you’re selling property you’re selling a piece of someone’s history. My business relationships with these total strangers often end as friendships and to me that’s a perk of the job.
A negative (and I do hate to use that word!) Would have to be when deals fall through .It’s very frustrating not being able to have complete control over a deal. No matter how hard you work to bring something together it can fall over through no fault of your own. Sometimes things do not work out, and that’s life. I’ve learned to be more resilient and find new opportunities for my clients.
In your opinion what would be the vital components for a successful career in real estate?
-The ability to be innovative with your ideas: give yourself that point of difference over other agents
-Technology: Work smarter not harder
-Training: You will always be learning in this industry
-Exceptional listening skills: Determine your client’s needs and wants, act with empathy, and above all provide outstanding service.
