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- Business Insider asked real-estate agents around the country about what it’s really like working in their industry.
- Many real-estate agents wish their clients knew all the behind-the-scenes work they do beyond showing homes.
- Others said they wished their clients would stop assuming all real-estate agents are rich.
- Here are 10 things real-estate agents wish they could tell their clients, from how much money they really make to "your home isn’t selling because you have no taste."
- Visit Business Insider’s homepage for more stories.
Life as a real-estate agent probably isn’t as glamorous as you think.
Business Insider asked real-estate agents around the country about what it’s really like working in the industry, the best and worst parts of their jobs, and what they wish they could tell their clients.
While some agents chose to remain anonymous, all were independently verified by Business Insider.
From how much money they really make to "your home isn’t selling because you have no taste," here are 10 things real-estate agents wish they could tell their clients.
1. "It’s far less lucrative (per transaction) than you think."
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Being a real-estate agent isn’t as glamorous or lucrative as you might think, according to those in the industry.
Brian Suico, a realtor based in Vancouver who sells homes priced around $700,000 on average, said he wishes he could tell clients "how much we pay in real-estate fees and marketing… Everyone thinks we are rich. Some of us are, but like every business we spend money to make money and we take risks and some of us are very talented at our jobs."
An agent based in Washington added that most agents only earn "a small fraction of the gross commission paid, and we have to pay all of our expenses and taxes from that. It’s far less lucrative (per transaction) than you think."
2. "I would never want to tell a client that they are unappreciative, but at times it definitely feels that way."
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Many agents said they wish clients knew how much work they do behind the scenes.
"We don’t just open doors and we wear many hats," said Spencer Cutler, a Corcoran real-estate broker based in New York City. "Yes, part of our job is to show expensive properties in Manhattan, but we’re also a transaction coordinator, marketer, therapist, salesperson, telemarketer, CFO, CEO, accountant, analyst, negotiator, teacher, etc."
Claire Groome, an agent at Warburg Realty who sells homes that cost between $1 million and $20 million in New York City, said brokers do a lot of work that goes unnoticed and she wishes clients knew "how hard (yet rewarding) our jobs are. It’s an expertise."
Scot Dalbery, who deals with rental properties in New York City, expressed similar sentiments.
"Especially in the era we live in now where people think everything can be done instantly and for free through a website or app, clients don’t realize the amount of hours spent researching listings, calling agents, making appointments, verifying information, all while answering every text or email from the clients themselves," he told Business Insider. "… I would never want to tell a client that they are unappreciative, but at times it definitely feels that way."
3. "You have no taste."
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Mary Hall Mayer, an agent at Warburg Realty in New York City, said she wishes she could sometimes tell her clients one harsh truth: "You have no taste which is why your property can’t achieve that price."
See the rest of the story at Business Insider
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Source: Business Insider – kwarren@businessinsider.com (Katie Warren)