A finger on the pulse of real estate
Since our inception, we have been one of the biggest megaphones in the real estate industry, and we publish housing news so consumers and real estate professionals have the freshest data on hand, while simultaneously publishing industry-changing editorials over the years. Many a policy has changed based on our columnists and you (the reader), and we would argue that the industry is better because of how interested people are in making sure it is running as best as it can.
We recently received an open letter to the National Association of Realtors from from Daniel Bates, who is the owner and Broker-in-Charge of MCVL Realty, a boutique brokerage that specializes in real estate sales and rental management in McClellanville and Awendaw, SC. Bates is also the Chairman of the Bulls Bay Chamber of Commerce which also serves this rural niche located between Charleston and Myrtle Beach.
Upon reading, our first inclination is that we disagree with quite a bit of the content, but understand that many people agree with these points. The role of the world’s largest trade group is extremely complex, and while the member benefits (discounts on car rentals and such) mean little to paying members, the NAR’s policy and lobbying efforts, we believe are critical. The D.C. office is filled with extremely hard working unsung heroes whose fingerprints will never be seen as they help guide successful policy and block industry-destructive policies.
Although we agree with certain points made by Bates below, we disagree with others, so instead of us making the decision about whether Bates’ opinion is on point or not, we are publishing it in full and asking you to tell us in the comments what you think – what points do you agree and disagree with Bates on?
The following open letter is in the words of Bates himself.
An Open Letter to the National Association of Realtors
I am witnessing a rising level of discontent among members of the National Association of Realtors (NAR) is palpable through comment threads and forums of the internet. These voices have grown from seemingly few in numbers, written off as outliers, to a majority who are not pleased at the basic level of representation from their trade organization. The common thread of the complaints is that the organization values it’s own existence and money over preservation of the industry, it’s members, and the general public, which whom they serve.
With all this discontent, why do members remain? NAR would have you believe that it is because of the excellent services offered, however the answer is much more simple; it costs more to not be a member than it does to be one. Despite a DOJ ruling banning the organization from tying membership to access to the Multiple Listing Service (MLS) which agents rely on to share information about their listings and offer compensation to other participating brokerages, agents still find themselves having to be a member because of “non-member” dues which exceed the cost of membership and local REALTOR Associations built on top of the maintenance of these local databases. Reports from areas that have successfully severed the tie where vast majorities of brokerages and their agents have abandoned local, state, and national REALTOR Association membership is that all is rosy.
NAR leadership cite a plethora of reasons that the organization provides huge value to it’s members, but each argument they make seems to be flawed and causes dissatisfaction among members
A higher standard of professionalism?
NAR touts it’s Code of Ethics (COE) as the crowning achievement of bringing order to an otherwise chaotic marketplace. Perhaps these initial rules were valuable to have been penned, but can basically be summed up by the Golden Rule. There have also never been numbers produced to back up the argument that a REALTOR acts more ethically than a non-member, in fact, the opposite may be true – markets with high non-member numbers are performing quite well. State licensing commissions already enforce rules which guide the industry and protect the public and would cover the most egregious offenses performed by agents. As far as the agent-to-agent infractions, many believe that karma settles those scores and agents who can’t play well with others don’t make it far in the industry.
Ultimately, enforcement of the COE can be called into question because the complaint process is overbearing and impractical for the “victim” and the punishment is often no more than a slap on the wrist. Violators are not stripped of their membership and the records of what happened often remain private, so there are no lasting repercussions to the offender and no effort to clean up the industry.
A brand that attracts consumers?
Despite the organization’s age and advertising budget, the vast majority of the public is still very much in the dark as to any difference between a real estate agent, broker, or REALTOR. In addition, there is also still a large misunderstanding about what agents do, whom they represent, and how they get paid; all basic tasks that a competent trade organization should have successfully tackled from the beginning. Many members also feel that NAR’s decision to run advertising stating that it was a “A Great Time to Buy Real Estate” the entire way through the plummeting real estate market from 2007-2010 was misleading and did more harm than good to gain the trust of an already woeful public.
A lobbying voice?
One of NAR’s biggest arguments for it’s current existence is their great lobbying ability. They tout any cause that they supported as a victory which would have never happened without their involvement, a fact which is impossible to argue, but quite arguable. Even casual outsiders can see that the wheels of Washington are in fact greased by money, but my biggest argument is that most of their achievements while possibly helping real estate agents, have harmed the country in the long-run.
Tax credits to first-time home buyers was essentially cash for clunkers for the real estate industry; an artificial shot in the arm which helped a struggling economy, but also prevented capitalism from taking hold and allowing the market to seek a natural level. The biggest argument that it’s lobbying efforts are not supported by it’s members, was NAR’s own move to make contributions to their PAC mandatory. NAR also stated that they would not take sides in the national election and then proceeded to hire Hilary Clinton as the headlining speaker for their national convention. PAC donations should always be optional when membership crosses political lines.
NAR is also quick to cite the many designations offered which ensure that their members are at the top of the profession. While there is no denying the value of education, the quality can always be called into question, but more than that; the motives.
NAR makes hundreds of dollars off of each designation issued to each agent anxious to differentiate themselves from the crowd and add some letters to the end of their name. Not only does is cost money to obtain this training and then apply for the designation, but agents are also charged annually to actually retain the ability to claim the use of the designation. The recurring fees just to claim the right to use a designation are like a college reclaiming a graduate’s diploma unless a contribute to the Alumni fund was made each year.
A consumer gateway?
In a move that can only be described as ludicrous, NAR gave away it’s rights and control of it’s own website, Realtor.com, to a third party (read: for-profit) company, Move, Inc. With a direct feed to the listings of it’s members, Realtor.com was able to boast a quality control that it’s competition did not have, however this fact was squandered while it’s competition (Trulia and Zillow) built better tools and features on a more user-friendly interface while convincing brokerages to volunteer their listings to get better exposure. Realtor.com was quickly bumped to the third on the list for most major real estate keyword searches.
Under Move, Realtor.com charged agents and brokerages to display their contact information and the total number of pictures on their own listings as a way to profit, yet brokerages still found a better ROI investing in Zillow and Trulia advertising. Realtor.com had but one claim to make over Trulia and Zillow, that their data was a clean as the new fallen snow, due to it’s source, and yet NAR leadership voted to allow FSBO builders AND non-member agents to supply their data directly to Realtor.com.
NAR then agreed to supply it’s membership records for a tool which had three times been objected to and shot down by REALTOR members which allows consumers to search for agents in an area, promoting quantity over quality and skewed toward the success of teams over individual performance of agents without regard to their abilities to serve a clients needs.
Value for the money?
NAR’s final argument to justify it’s existence is to state that most members get far more in services (like those cited above) than they pay for dues. While NAR (and state and local) memberships often include free and discounted services which can be used by agents, they also discourage free enterprise.
Contracts are struck with companies and then efforts are made to suppress competitors which would normally compete in the market and cause both companies to improve their products and services or lower their prices. Most will agree that if NAR disappeared tomorrow and they had to pay 10 percent more to rent a car, or purchase the complimentary document software (but have a choice on which one to use), but they were not responsible for paying for lobbying, designation use fees, or bloated leadership purchases including a new a high rise building in Chicago; that they would somehow be able to go on.
In the end, the overall grand scope and duties of the National Association of Realtors seems to have escaped their their mission statement “to help its members become more profitable and successful” and morphed into an organization who’s primary goal is to preserve and enhance it’s own existence.
Basic tips on how to handle common (and ridiculous) interview questions
(EDITORIAL) There will always be off the wall questions in an interview, but what is the point of them? Do interviewers expect quick, honest, or deep and thought out answers?
We’ve all been asked (or know of friends who have been) some ridiculous interview questions:
- What type of fruit would you be in a smoothie and why?
- If you were stuck on a deserted island, what is one item that you couldn’t live without?
- Could you tell us a joke?
Sound familiar? You may have worried about stumbling in your response, but the reality is, you will receive questions in an interview that you may not know the answer to. Many of us sweat bullets preparing for interviews, trying to think through every possible scenario and every question we might be asked. Usually the hardest part about these questions is simply that you cannot prepare for them. So how do you approach questions like these?
First and foremost, you have to be comfortable with the uncomfortable and do your best to answer them in the moment. Interviewers are not expecting you to know the answer to these question. Instead, they are literally looking to see how you handle yourself in a situation where you may not know the answer. Would you answer with the first thing that comes to mind? Would you ask for more information or resources? What is your thought process and justification for answering this question? Please know that how you answer this particular question is not usually a deal-breaker, but how you handle yourself can be.
Now, with more common questions, even though some can still feel ridiculous, you have the opportunity to practice.
“What are your strengths and weaknesses?”
They want to be able to see that you have confidence and know your strengths – but also that you are human and recognize where you may have areas of improvement, as well as self-awareness. This isn’t a trick question per se, but it is an important one to think through how you would answer this in a professional manner.
If you’re not feeling super confident or know how to answer the strength question, it may be worth asking your friends and family what they think. What areas of business or life do they feel comfortable coming to ask you about? Were there subjects in school or work projects that you picked up really quickly? This may help identify some strengths (and they can be general like communication or project management.) One great way to delve in to your strengths is to take the CliftonStrengths Test.
“Your CliftonStrengths themes are your talent DNA. They explain the ways you most naturally think, feel and behave.” It gives you your top 5 strengths (unique to you), as well as a detailed report on how those work together and amongst groups. Per the research from Gallup, they say time is better spent on growing your strengths than trying to overcome your weaknesses.
The thing with the “What is your weakness?” question is that you cannot say things like “I really cannot get up in the morning!” or “I absolutely hate small talk!” – even though those may be true for you. They are looking for a more thoughtful answer demonstrating your self-awareness and desire to grow and learn.
They know you’re human, but the interviewer is looking for what you’re doing to address your weakness. An example of a response may be, “I have struggled with advanced formulas in Excel, but have made sure to attend regular workshops and seek out opportunities to practice more functionality so that I can improve in this area”. Another example might be, “I have a very direct type of communication style and I have learned that sometimes, I need to let the other person share and speak more before I jump to a decision.” Many times you can also find some great insights in self-assessment tests too (like DISC, Myers-Briggs, Enneagram for examples).
“Why do you want to work for this company?”
Let’s be real. Companies want people that want to work there. They want you to be interested in their products/service because that usually means you will be a happier employee. You should be able to answer this question by doing some company research, (if any) drawing from your personal experience with the company, or getting “insider insight” from a friend or colleague who works there and can help you understand more about what it’s like to be employed by that company.
“Where do you see yourself in five years?”
All companies have goals and plans to make progress. They ask this question to see if you, a potential future employee, will have goals that align with theirs. Jokingly, we are all curious about how people answered this question back in 2015…but in all seriousness, it is worth asking yourself and thinking through how this company or role aligns with your future goals. This question is similar to the weaknesses question in that you still have to remain professional. You don’t want to tell them that you want to work there so you can learn the ins/outs to then go start your own (competitive) company.
Take a few minutes to think about what excites you about this job, how you can grow and learn there, and maybe one piece of personal (hope to adopt a dog, travel to India, buy a home) but it doesn’t have to be anything super committal.
When it comes to behavioral interview questions, these are also much easier to prepare for. You can take out your resume, review your experience, and write out 3 examples for the following scenarios:
- Handled a difficult person or situation
- Decided steps (or pulled together resources) to figure out a problem/solution that was new to your team or organization
- Brought a new idea to the table, saved expenses and/or brought in revenue – basically how you made a positive impact on the organization
These are very common questions you’ll find in an interview, and while interviewers may not ask you exactly those questions verbatim, if you have thought through a few scenarios, you will be better conditioned to recall and share examples (also looking at your resume can trigger your memory). Bring these notes with you to the interview if that makes you feel more comfortable (just don’t bring them and read them out loud – use it as a refresher before the interview starts).
Practicing is the best way to prepare, but there’s always a chance that you’ll get a question you might not know the answer to. Do your research and consider asking friends (or family) about how they’ve handled being in a similar situation. Ultimately, you have to trust yourselves that you will be able to rise to the occasion and answer to the best of your ability, in a professional manner.
Whatever you do, please also have questions prepared for your interviewers. This is a great opportunity to help you decide if this is a right fit for you (projects, growth opportunity, team dynamics, management styles, location/travel, what they do for the company/what are they proud of/how did they choose to work here). Never waste it with “Nope, I’m good” as that can leave a bad final impression.
Be yourself, or be Batman? A simple trick to boost your self-confidence
(OPINION / EDITORIAL) “If you can’t be yourself, be Batman.” We’ve heard it before, but is there a way that this mentality can actually give you self-confidence?
The joke with scary movies is that the characters do stupid things, and so you scream at them. No you dumdums, don’t go FURTHER into the murder circus. Put down the glowing idol of cursed soda gods and their machine gun tempers. Stop it with the zombie dogs. STOP IT WITH THE — WHAT DID I JUST TELL YOU?
We do this as the audience because we’re removed from the scene. We’re observing, birds eye view imbued ducklings, on our couches, and with our snacks. Weird trick for horror movies to play — makes us feel smart, because we’re not the ones on meat hooks.
But if a zombie crashed through our window, like RIGHT NOW, the first thing we’re going to do doesn’t matter, because that thing is going to be stupid. So so stupid. You can’t believe how stupid you’ll act. Like, “I can’t leave behind my DONUT” stupid, as a zombie chomps your arm that was reaching for a bear claw you weren’t even really enjoying to begin with. “Oh no my DOCUMENTS I can’t leave without my DOCUMENTS.”
There’s a layer of distinction between those two instances — removed versus immersed. And really, this colors a lot of our life. Maybe all of our life. (Spoiler: It is all of our life.)
It’s Imposter Syndrome in overdrive — the crippling thought that you’re going to fail and be found out. And you tell yourself that all the little missteps and mistakes and mis…jumps are entirely your fault. Feedback loops reiterates, and then you get paralyzed. And man, what a time to be alive — what with the world on fire — to start up a self-deprecation engine shame machine. No way our self-confidence is suffering now, right?
The point is: You — as a being — experiencing things first hand is the perfect time to see your shortcomings. You can’t help but do it. You are living in your skeleton meat mecha human suit, and all the electronics in your head strangely remember all the times you struggled. And weirdly, if you look at someone else in the exact same situation you were just in, you suddenly have this powerful insight and awareness. It happens naturally. It’s why you think I would never head on down to the basement in a creepy mansion. Watch any cooking competition show to see this in action. Armchair quarterbacks, hindsight 2020. It’s all the same.
But when it’s just you and you’re doing things in real time? You lose focus, you stumble, and you wonder why it’s suddenly so hard to make rice, or why you fell for the really obvious fake punt.
So where does that leave you? How do you solve this problem? There are ways. But the journey is arduous and hectic and scary and difficult. Time tempers your soul over and over, you harden in ways that build you up, and you become better. The process is ages old.
I bet you’d like at least… I dunno, there’s gotta be a small trick, right? Life has secrets. Secrets exist. Secrets are a thing. Let’s talk about one to boost your self-confidence.
Stop seeing things in first person, and instead, talk to yourself in the third person. Yes, just like George did in that episode of Seinfeld. Don’t say, “I need to finish the project today.” Say “Bob needs to finish the project today.” If your name is Bob, I mean. Substitute in your name. In effect, you are distancing yourself from the situation at hand, as you begin to view it from outside yourself.
Studies have shown that doing this causes a fascinating side effect — an odd insulating barrier that can give someone just enough distance from the problem at hand, which in turn lets someone more calmly examine the situation. Once that is achieved, a plan can be written and executed with great results.
There’s some research demonstrating this concept, and as truly crazy as it sounds, marked improvement in behavior has been measured when participants are told to think of themselves as a different person. It’s like the “fake it ’til you make it” principle — suddenly you’re sort of cheering on this other person, because you want them to succeed. It’s just that in this case, the other person is still you.
I’ve heard the concept also said that “your current self can give your future self an easier life if you work hard now.” It seems like distancing functions on that wavelength — that by thinking you are supporting some other entity (and even when that entity is still you), some empathetic mechanisms spring into play, and your natural desire to see success rebounds back onto yourself. This is you eating your cake, yet something still having cake.
So that’s magic in and of itself, right? I want you to try it. Don’t think in terms of what you have to do, but what you watching yourself will do. All these fun tiny benefits concurrently happen — encouragement, pressure removal, controlled thought, drive, momentum, and motivation. It’s all there — a trail mix built out of emotions and psychological buffs. And they’ll all fire off at once and you’ll start noticing how much better you feel.
Here’s the best part — we can take this further. At least two different studies have shown with children that thinking of an alter ego and then distancing creates even stronger outcomes. Now we’re not just hyping ourselves up — we’re hyping up an impressive figure. Batman is already taking down jerks. So what if you say you are the night and combine that with self removal? Even in children, the conclusion was fascinating. When they were given a menial task to complete, those who were told to believe they were Batman had an improvement of 23% in focus and productivity over a group who was given no directive. Even without the consequences of adult life and its inherent complexities, children naturally showcased that they work harder if they undergo an alter ego transformation. Now you’re not just there for yourself, you’re there for Batman himself.
“But that’s just children.” Ok, well, it works in adults too. Beyoncé and Adele would psych themselves up by creating onstage personas that were confident, successful, fearless versions of themselves. It’s an act within an act, with a performer further elevating themselves away from reality through the substitution of a personality built and engineered for success. Set aside that these are powerful, fierce, intimidating entertainers in their own right; the focus here is that they also used this mental trick, and it worked.
(There’s an aside here that I think is worth mentioning — in the midst of performing to a crowd, you are 100% in control, and I think this simple realization would help scores of people with their fear of public speaking; a concept to write about another day.)
Distilled down: If you think you’re a hero, you’ll act like one. Easier said than done, but give it a try by taking yourself out of the equation, even if for a moment. You’re not changing who you are so much as you are discovering the pieces of innate power you already had. You aren’t erasing yourself — you’re finding the hidden strength that’s already there. Having a way to kickstart this is perfectly fine.
The ultimate goal with all of this is to build the discipline that lets you begin to automatically engage this mode of heightened ability – that you’ll naturally adopt the good parts into life without the need for ramping up. Armed with that, you’re unstoppable.
Life — as a series of interactions and decisions — can be gamed, to a degree, with tiny and small shifts in perspective. Dropping a surrogate for yourself gives you enough room to have the chance to take everything in, and augmenting this concept further with the thought of having an alter ago creates even wilder possibilities. Psychologists are finding that this sidestep phenomenon can potentially help in different areas — improved physical health, learning how to better handle stress, emotional control, mastering anxiety, and a host of others.
So put on a mask, and then put on a whole new self. It’s almost Halloween anyway.
Don’t forget about essential workers in a post-COVID world (be kind)
(OPINION / EDITORIAL) As the world reopens, essential workers deserve even more of our respect and care, remembering that their breaks have been few and far between.
Anxiety about returning to work post-COVID-19 is real. Alison Green, of Ask A Manager, believes “much of that stems from a break in trust in the people and institutions that have shown they can’t be counted on to protect us.” Green also goes on to remind us that a lot of people don’t have the luxury of returning to the workplace – the essential workers who never left the workplace. The grocery store clerks, janitors, garbage collectors, and healthcare providers, just to name a few. As the country reopens, we have to be more sensitive to these essential workers, who often are left out of the discussion about safety, work norms, and benefits.
Essential workers got lip service during the pandemic
At the start of the pandemic, the essential workers were hailed as heroes. We appreciated the grocery store workers who tried to keep the shelves stocked with toilet paper. We thanked the healthcare workers who kept working to keep people healthy and to take care of our elderly. I remember being more appreciative of the person who delivered my mail and the guy who came and picked up the trash each week. Now that the pandemic has been with us for more than a year, these workers are still doing their jobs, just maybe not so tirelessly.
Some of these workers don’t have sick days, let alone vacation days for self-care, but they are still making it possible for their community to function while being treated with less than respect. They’ve weathered the pandemic while working in public, worrying about getting sick, dealing with the public who threw tantrums for policies beyond their control, and managing their health while employers didn’t enforce safety measures. I’d hazard a guess that most of the C-level executives didn’t bring in any of their essential employees when writing new policies under COVID-19.
Bring essential workers into the conversation
In many cases, it has been the workers with the least who are risking the most. In Oklahoma, even though Gov. Stitt deemed many industries as essential, those same workers had to wait until Phase 3 to get their vaccine. Please note that elected officials and government leaders were eligible under Phase 2 to get their vaccine. Society pays lip service to the essential workers, but in reality, these jobs are typically low paying jobs that must be done, pandemic or not. In my small rural town, a local sheriff’s deputy contracted COVID-19. The community came together in fundraising efforts to pay his bills. It’s sad that a man who served the community did not have enough insurance to cover his illness.
As your office opens up and you talk to employees who are concerned about coming back to the office, don’t forget about the ones who have been there the entire time. Give your essential workers a voice. Treat their anxiety as real. Don’t pay lip service to their “heroism” without backing it up with some real change. As offices open up to a new normal, we can’t forget about the essential workers who did the jobs that kept society going.
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