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Georgia Real Estate Professionals Stand Ready to Serve Buyers & Sellers - 2008-02-24

Last weekend, I had the opportunity to attend the 2008 Georgia Association of Realtors Inaugural Convention on Hilton Head Island. Although I am not a member of the Realtors trade group, I respect their Code of Ethics and believe that their organization promotes fair and honest business practices.

I had been asked to present a one-hour continuing education program on why real estate agents should invest in real estate on their own account, and was uncertain if agents would warm to my investment suggestions.

But as the class began, I was pleased to learn that most of those attending had already invested in the product that they offer to the public at large.

I spent a considerable amount of time talking to agents and brokers from all over our state, and I came away with several impressions:

* Most of these real estate salespeople are well educated about the real estate business, and are truly committed to learning more about their profession.

The National Association of Realtors sponsors dozens of professional designations, each of which signifies proficiency in a specific area of the real estate practice. Among others there is GRI, which stands for Graduate of the Realtors Institute; there is CCIM which designates Certified Commercial Investment Members; there is CRS and CRB, which signifies Certified Residential Specialist and Certified Residential Management Broker, and many more areas of specialty.

Each of these professional designations requires a series of courses designed to make the member more knowledgeable in the particular area of expertise, and hopefully better able to serve you.

When I became licensed in 1978, there was no continuing education requirement for real estate licensees in Georgia. Today, things have changed, and the average salesperson is, in my opinion, better equipped to meet the challenges of real estate sales than in the past.

* These people are connected. I mean really connected. Not only does everybody have a fancy cell phone, but they all seem to have laptop computers with always-on internet, plus integrated email, websites, and wireless communications. Wherever they are, they carry what amounts to a mobile office with them, so they can transact business and market properties literally around the globe. All at the touch of a button.

Many years ago, I remember one of my first contracts was signed by the buyer after 6 pm, and I had difficulty finding a store that had a photocopy machine that was open at that hour so I could make copies. I located a post office and made my copies, then had to deliver copies to all the parties myself that evening to make the agreement binding. Agents today can accomplish the same tasks at the touch of a button.

In addition, I used to carry around two large "multiple listing books," each the size of an old Atlanta telephone directory, and this was my inventory of homes for sale. Never mind the fact that the books were printed once every two weeks and were essentially obsolete by the time I received them. What an incredible waste of paper, printing and distribution efforts!

Today, the Internet brings listings to an agents computer screen with just a few keystrokes, and the information can be brought into their Blackberry devices or handheld computers just as easily, including full color virtual tours of the inside of the homes. What a time saver! Instead of having to personally tour each potential home in advance of the customer's arrival, today's agent can sit down with the buyer and view dozens of homes, inside and out, right on the computer screen.

Without question, the Internet era has been good to the real estate industry.

* I also feel an obligation to report to you that these agents and brokers feel almost universally that the real estate industry has been the "whipping boy" of the television media over the past twelve months.

Yes, they recognize that residential real estate prices in certain parts of the country accelerated at unsustainable rates and were due for a cool down. But they also know that all real estate is local, and that the over-heated prices were seen largely on the west and east coasts, and that home prices in Georgia have been much more stable than the nation as a whole.

No, they do not believe that home values in Georgia have dropped on average, and they are quite optimistic that real estate will continue to represent a good investment in the years and decades ahead.

The agents I talked with pointed out that interest rates are currently near their historical lows and that sellers are highly motivated to make a deal. In addition, there in still a large inventory of new homes for sale, giving the negotiating edge to the buyer in this marketplace.

These real estate professionals see no evidence that Georgia homes will become less desirable in the future, and stand ready to help potential home buyers make the move.

I was impressed with the many new and innovative ways that today's agent and broker can offer service to anyone wishing to buy or sell real estate.

The one surreal aspect of our trip was the site on Hilton Head Island in South Carolina. While the Marriott Resort Hotel was beautiful and the service was impeccable, I found Hilton Head Island to be almost too perfect. My wife likened it to Disneyworld without the theme park. Nothing like that could ever occur in nature, and I am not sure I am comfortable in that much perfection.

 
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