Great REALTORS® are not created overnight. They are the product of study, hard work, and practical application of the information they learn throughout their career. If they are fortunate, they may meet someone who is willing to mentor them, answer questions and let them learn from their experience. However, some rookies are not quite so fortunate.
In order to help these rookies succeed in the real estate industry, MAR created the "Rookie REALTOR® Society." A rookie REALTOR® is defined as an individual who has been in the real estate business for less than four years. As newcomers to the business, rookies face a variety of situations that seasoned REALTORS® take in stride. Just getting organized can be a difficult undertaking for many newer agents; tracking the paperwork, approvals, walk throughs and handling the countless problems that arise with any transaction.
As well as managing the paperwork rookies have the challenge of keeping the business from consuming every waking moment. For a new REALTOR®, being available 24 hours a day, seven days a week may not seem like too much. After all, they are trying to launch a business. However, seasoned professionals know this is one of the fastest ways to burnout.
Several years ago, a new REALTOR® who was experiencing many of these problems, determined that there should be a place for rookies to go where they could exchange ideas, encourage each other, learn from others' mistakes and be mentored by individuals who had more experience in the business. Unfortunately, this particular agent left real estate before the program she envisioned could be launched, but her legacy to others entering the business has finally become a reality.
The Rookie REALTOR® Society, sponsored by the MAR's public relations committee, began in January 2000. Modeled after the Young Lawyer's Association sponsored by the American Bar Association, the society is for anyone who has been in the real estate business for four years or less, or is returning after an extended absence. "There have been so many changes in the business," says Doug Poole, chair of the society, "that even someone who has been out of the business for a while can feel like a rookie."
The goal for the first meeting was 25 people. However, the response was far greater than anticipated and over 100 REALTORS® attended that first meeting. During this meeting several "veterans" REALTORS® shared three things they had done well and three things they wish they had never done. The response from rookies and veterans alike was overwhelmingly positive.
"The Rookie REALTORS® who attended have not wanted to stop," says Katie Grove of the Owings Mills office of O'Conor, Piper & Flynn/ERA. "This is something REALTORS® have been looking for. I find it rewarding because it puts into focus things you take for granted," adds Grove. "Sometimes as veterans, we forget the little things we did as new REALTORS®."
Long & Foster rookie Gary Vreeland, who is based in Columbia says, "My greatest challenges have been to remember all of the crucial steps that must be taken with each transaction and to get organized - finding an organization system that works for me."
Margie Willard of O'Conor, Piper & Flynn/ERA-Ellicott City echoes Vreeland's sentiments. "Not knowing about contracts, procedures, acquiring new business and some of the legal ramifications has contributed to my lack of confidence as I begin my career."
The rookies also face tremendous financial burdens when it comes to launching their new real estate careers. "Getting a grip on the business and the financial burdens was a challenge," shares Jannie Eisenberger of O'Conor, Piper & Flynn/ERA. "Understanding the buying and selling process and learning to tell the difference between someone who's serious and someone who's not was difficult.
"The Rookie REALTOR® Society helps to supplement the OPF mentoring system, " she adds. "We are focusing on the critical issues for new REALTORS®."
Knowing that they are not the only ones facing many of these issues has helped the newcomers find the fortitude to press on, and many see the benefits of becoming involved in the society.
"The first time, I went to the meeting by myself," says Eisenberger. "The next time I took one person. By the third meeting, just about every rookie in my office was interested in attending." The purpose of the Rookie REALTOR® Society is to augment the mentoring and support these agents are receiving from their individual companies. "We are the glue to help hold the new REALTORS® together," says Grove. "We can be a support to them and give them a foundation to get started."
"We are overseeing the Rookie REALTOR® Society as a task force, giving it guidance and direction," says Frank Locke of O'Conor, Piper & Flynn/ERA's Stone Mill office and another member of the veteran group, "there is a real need for it."
"They are very hungry for knowledge and camaraderie," says Poole. "They needed to know that they weren't the only ones."
Estimates put the number of rookies throughout Maryland at 6,000-8,000. "There is a tremendous amount of expertise among them and the veterans are just helping them organize it," adds Poole. Topics for discussion have included technology, organizational skills, contracts, and communicating with buyers and sellers. At the recent MAR convention in Ocean City, a special luncheon was held for the rookies to further encourage their participation and education, and additional programs are scheduled for the coming year.
Veterans and rookies alike believe that this is one of the most exciting new programs to be developed for REALTORS® in some time. "Rookies should get involved because they will get something out of each meeting that they can take back and use to stay in business," says Locke. Each meeting begins with an opportunity to network with the veterans and other rookies. There is also a guest speaker or a panel discussion. "We have a multi-faceted approach," explains Poole. "This is not just for education, networking or socialization. REALTORS® learn who to call and it generates response and referrals for them. It also helps them to realize that it's possible to be a success when they see lots of sharing of knowledge and expertise."
Eisenberger agrees. "Attending these meetings gives you a broader network of people to go to - veterans who can share ideas and help with problems. We all come from different backgrounds, and this just helps to fill in the blanks."
Patricia L. Harman is a freelance writer based in Cockeysville, Md. and has covered the real estate and building industries for almost 20 years.