A REALTOR® fairy tale

What does it take for everyone to live happily ever after?

by Louise Hull   Once upon a time, in a faraway land (OK, it was Texas, but work with me here), there lived a housewife princess. In an effort to escape the kingdom of her handsome prince who had turned into a toad, the housewife decided on a plan to ensure her financial security. She would "get into real estate." The housewife princess viewed this industry through the rose-colored glasses that are part of every new agent’s wardrobe.

She studied hard, passed the real estate license exam on her first attempt, and excitedly secured employment with a respected firm. She knew that she would love this career. She would wear beautiful clothing, drive an expensive carriage (Cadillac, no doubt). She would spend a small portion of her days showing beautiful castles to only the nicest and wealthiest residents of the kingdom. Her customers and clients and all REALTORS® in the kingdom would love the new REALTOR® princess. Her clients would refer all of their friends and families to her, and the REALTOR® princess would become wealthy beyond all dreams. Her clients would all live happily ever after–and so would she.

But a terrible thing happened. The gremlins of reality crept into the office of the REALTOR® princess. She could only afford to shop at Kmart. She was forced to settle for a mediocre carriage. She had clients with credit problems, transactions were cancelled, and she worked longer and longer hours to complete her responsibilities. The REALTOR® princess learned that some of her clients had betrayed her and purchased properties from other REALTORS®. She discovered that some REALTORS® in the kingdom were greedy and would do anything to accumulate more wealth than the REALTOR® princess.

The REALTOR® princess began again to plan an escape from her problems. She would become the broker of her own real estate establishment. She would have a beautiful castle-front office. She would make all the decisions and have numerous agents and brokers working for her. The REALTOR® princess would lead and motivate only well-trained agents who would provide perfect customer service. She would hire the very best administrative assistant for a reasonable salary. She would place creative advertising throughout the kingdom. She would be the first and best at employing the necessary technology tools of the trade. This would all be paid for by the 50% of the real estate commissions that the broker retained. She would now become the REALTOR® queen!

Alas, the reality gremlins once again found their way to the REALTOR® queen’s business establishment. She had to rent a moderate storefront office in which to operate her venture. She learned that creative advertising and a capable administrative assistant cost more than twice what she estimated. The REALTOR® queen was successful in hiring agents, but she could find none who desired to share in a 50/50 commission arrangement. Her agents desired to be REALTOR® princes and princesses themselves! She also had neglected to factor a few other things into her equation. Competing brokers desired her agents and offered them beautiful castle-offices and laptop computers. The agents desired more and more creative advertising at no cost to themselves. Evil men in the kingdom filed frivolous lawsuits against the REALTOR® queen over actions performed by her agents, many of which the REALTOR® queen was unaware. The REALTOR® queen began to despair and look for another solution.

We all have gremlins that sneak into our fairy tales. For all of the REALTOR® kings, queens, princes and princesses to live happily ever after, we must write a happy ending together. Me, I am going to search for my rose-colored glasses.

Louise Hull, crb, crs, gri, is broker/owner of Cornerstone Properties in Victoria. She is a TREC commissioner and served as TAR chairman of the board in 2000. You can e-mail her at louise@louisehull.com.

Illustrations © Artville.

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