Real Estate Agent in Today’s Market SOCCCD Collaborative CTE Grant Funded Externship

By: Todd Hoffman Multiple Subject - Elementary Education Teacher Capistrano Unified School District

This externship was with Capitis Realty in Palm Springs, California March 2010

The Real Estate Agent Robert Parham Robert Parham has been a licensed realtor for eight years. He has seen technology become a major factor in becoming a successful agent. Later in the presentation technology and its’ role in real estate will be further examined. Besides technology, people skills play a vital role. Patience, and being an excellent listener along with collaboration skills all make Mr. Parham a successful agent. He concentrates his business in the Coachella Valley, but has experience and success in other markets within the southern California area.

Robert Parham works with Capitis Realty Whether you are buying or selling, CAPITIS REAL ESTATE offers creative marketing concepts and services to allow you to take full advantage of today’s Real Estate opportunities. From finding revenue generating investment opportunities to the home of your dreams, your CAPITIS REAL ESTATE Team of local experts are with you every step of the way. When you are looking to buy a home or sell a property in a vacation rental destination, it takes a special team who understands the unique opportunities and benefits in these locations. CAPITIS REAL ESTATE offers experienced Agents who are fully trained with working in a Vacation destination environment, and has produced unique and effective programs that offer you a step up in finding or selling your home.

My Goal My goal for this externship was to shadow a professional real estate agent in today’s market and observe what skills are needed, in particular what technological skills and knowledge are required to make a successful agent. Here is what I learned:

Ready, Get Set, Go Go Go! Buying or selling a house or condominium is one of the biggest decisions of a person’s life, and real estate agents and brokers help people negotiate what can be a confusing process. When someone wants to sell or rent his property she usually calls a real estate agent. A large chunk of the real estate agent’s day may be spent on the phone obtaining listings for his agency. The agent also arranges to advertise the properties he is showing and may visit each property before it is shown to clients. He needs to know about everything from floor plans to heating systems to septic systems - he’s a matchmaker, and he’s got to know all sides of the equation. It’s also important for an agent to be familiar with the neighborhoods he works in, so he can counsel his clients about the property’s fair market value. A good real estate agent is informed about things wide ranging as school ratings, tax rates or public transportation as well as being fully aware of the going mortgage rates. Negotiating skills are not just important but critical for real estate agents. Networking is a big part of the job - most real estate agents develop a group of attorneys, mortgage lenders and contractors to whom they refer their clients.

Before you can use the title, “Realtor” you must have a real estate license and become a member of the National Association of Realtors. Every state requires that a broker or agent undergo a series of examinations and log some experience before he is granted this license. Continued education is required every few years to maintain the certification. Many real estate boards offer preparatory classes. But each state has it’s own test. So should you wish to work in a different state, you’ve got to pass their exam.

Mr. Parham’s Day -Morning Started at 7:00 a.m. picking up and voice mail and formatting electronic property brochures. 9:00 a.m.- Edited virtual tours and booking print advertisement for the coming weekend’s public open houses. 11:30 a.m.- Met with prospective client and compiled list of properties that met his description.

Mr. Parham’s Day - Afternoon 1:00 PM- Worked on staging a new listing. 2:00 PM- Returned phone calls, faxed documents, wrote a copy for a new listing. 3:30 PM- Organized a multi-day tour property tour with incoming relocation buyers.

Mr. Parham’s Day-Evening 5:00 PM- Confirmed appointments for the following day. 6:00PM- Received a counter-offer on a purchase contract. Worked on the details with client via phone to discuss counter offer. 7:15 PM- Left office with paperwork and cell phone in hand.

Technological Evolution While people skills remain a very important skill, I learned that in order to be competitive in today’s real estate market one must be able to utilize technology as a tool in this field.

Necessary Tools During my externship I was able to compile a list of the most necessary tech tools: 1. Internet: Information is instantly available Able to respond to sellers and buyers immediately. 3. MLS 2.0: A very advanced system with links to tax information, schools, neighborhoods, financing and other valuable information. There is no need to go out and see properties unless buyer is interested in specific homes.

Tools continued… 3. MLS 2.0 also allows the consumer to access this information which empowers them to their own research freeing up valuable time for the agent. 4. Cell Phones- much research can be done on the phones and has instant communication 5. GPS- used to have to look up homes in the Thomas Guide, now able to enter in address and directions are given in car.

Tools…. Electronic Lock Boxes- actually have cell phones built into them. Allows agent access to sellers homes in a safe and secure manner. Also records which agents have seen the home so they can be followed up on in a professional manner.

Tools… 6. Zip Forms Software- Has all 200 forms on line that are needed in a transaction. Agents can keep track of paperwork and signatures. 7. Fan Pages- Becoming more popular as it is widely accepted and preferred (Facebook) to utilize a Fan Page for promoting your business and sharing comprehensive listing data. 8. Showing Suite- All-in-one real estate productivity software that automates tasks.

Much Thanks! Mr. Robert Parham for allowing me to learn from him and to take time to help me fulfill the requirements for the externship. Capitis Realty, Palm Springs, CA Boker Yaruss- Coldwell Banker, Rancho Santa Margarita, CA.

To End… Thank you to SOCCCD and the CTE Grant Funded Externship for providing this opportunity to learn and grow as a professional.