Atlanta Real Estate | Atlanta Housing News for Real Estate

It always amazes me how many homes for over a million we have available.  Looks like the market may be picking up here!

With Atlanta Homebanc failing today....I don't think it will be overnight.

Homebanc Shutters Mortgage Business

terrific links to Atlanta luxury homes for sale

Thanks!  What amazes me is how many do not have more than one photo. One mutli million dollar subdivision in my area, The Manor Golf and Country Club have ver few that have maximized Internet marketing.  Very few have multiple photos, and very few have virtual tours.  To me that is amazing!  Lets see a $100 virtual tour or a 50K price reduction?  1 digatal photo or 8?

Jim, great point and observation.  It really makes us take the extra steps to do our job better!  Thanks for the update!

That is a LOT of million dollar listings!  In all of Anne Arundel County, MD we "only" have 407.  I think you make some good points to consumers about the qualifications of agents for selling in this market.  As always, great post!

Jim,

I always enjoy hearing about the Atlanta market since so many folks from your area purchase real estate here in Hilton Head.  We consider Atlanta a huge feeder market.  My last 2 sales came right from your area.   I sure do hope this financing crisis doesn't get much worse (although we know it will in the short run.)

David you're welcome.

Margaret thanks. What most peopel do not know is the financing for upper end homes has just changed dramatically,  It will place most of these homes beyond the reach of many buyers.  On a news piece the other night, it mentioned how mid stream some loans already in the pipeline for jumbo loans at 6.75% were bumped to 8%.  That is a hugh increase in monthly obligations.

Diane even in Atlanta our market relies on other areas to sell homes here.  Sales last month were off quite a bit here, but reasonably priced homes in good contition are selling.

Jim,

The licensing hours are 75 hours, but I agree far too many agents both new and established do not attempt to market the properties they have listed.   You are right, many agents in Atlanta have not sold any homes and frankly I don't why they maintain their real estate licenses for years.  I hear agent in Atlanta say they are doing real estate "on the side".  I am always bothered by this since I don't believe you can do real estate on the side.

Ava thank you for the correction. I agree real estate cannot be sold on the side...well it can, at the expense of the seller.  And the additional hours still does not contain marketing.

"You can obtain a Georgia real estate license if you hold a GED diploma."  You sure can.  But you can also become an incredible success with lots of hard work and determination.  I could write several pages of people who dropped out of high school and became very wealthy or very successful but I don't have the time. 

Sometimes, circumstances in a person life determines whether or not they can finish high school. Circumstances don't determine the type of person they are or who they will become.  You would do well to remember that.

I know plenty of agents with college degree's and PHD's.  But I run rings around them every day. 

All my best

Jessica Wynn Horton

Jessica I agree, but there are persons that do very well that hit the lottery, but there are millions that never win.  If a person had a million dollar deal would they be more comfortable with the person with the GED, or perhaps an agent that has a background in accounting, investment that can run spread sheets for potential appreciation or loss....or would it make sense to work with a person that says it looks like a good deal to me lets get er done?  I would say most would prefer more facts and detail.  Enthusiasm and hard work are one thing, ability and performance are another.  I always try to remember I am working with someone else's money.

I don't gamble.  I only bet on sure things.  I would bet on myself any day of the week and twice on Sunday.

Let's see...Granted, I am from Griffin, Georgia and million dollar deals aren't as common place as they are up in your market, but I've done several of them and been on both sides for most part.  I've had 5 million dollar deals.  I've had 11 million dollar deals.  Trying to keep a 20 million dollar one together right now.  I don't recall my education level being brought up one single time by any of those sellers.  Nor, do I recall ever seeing the city of Atlanta being on any of the top 25 most educated cities in recent years.  I only recall sellers seeking me out to get the job done. 

I've always been smart enough to understand that I need to surround myself with smarter people.  When and if I need something in an area where I have little or no experience, I turn to one of them for their expertise in that area. 

Your first statement and your reply, you are looking down your nose at people.  You might be a fellow top RE/MAX agent and you might be the blog king here on AR but your words can be damaging.  You don't have that right to put somebody else down to lift you up.

Some of those million dollar properties are probably owned by people with a GED or not even that. This girl with a GED will stack her "ability and performance" against any agent, ANY DAY to "get'r sold".

Maxwell House once ran an ad stating that their coffee was "less bitter" than their competitors.  The result? Coffee sales dropped for everyone. 

So there's your sign.  Have a good day. 

Jessica, you are taking one line out of the Blog out of context, and interpreting it as if it were the entire Blog.  It isn't nor was it meant to be taken personally. The fact of the matter is there isn't a college degree required to buy or sell in many states. Marketing isn't in the criteria or curriculum in any state. Licensure deals only with applicable law.  Some states like Texas, the license requirements are much more stringent. 

Also if real estate is an industry that has an 80% turn over every two years most people in the business obviously do not get it.  The numbers point in a different direction.  Most agents are not successful, so it important for buyers and sellers to choose their representative wisely.

There is also a reason as an industry real estate professionals are ranked lower than used car salesmen.  Why is that?  Could it be there is no satisfaction level with the consummated deal?  Did I buy a good deal or a bad one?  Was it a good investment of a not so good one?  Was I really represented by my buyers agent?

The Blog was a SEO marketing piece meant to attract business of builder developers on a  search on the Internet.  It was not meant to be a punitive indictment on other agents education levels.  It was written as an interactive Internet marketing piece to create business.

Jim, I do understand what the purpose of your post was for (SEO) and I assure you that I am not taking it personally.  My having to drop out of school and get a GED isn't an issue for me.  I am very comfortable with who I am and my self-worth isn't based on who I am, what I have, who I know or how many houses I sell in a single year.  My self-worth is based on something a lot more solid and secure than any of those things. 

My point is that you are a highly respected person in this online community.  You know a lot and have a lot to offer.  I know that I've learned a lot from reading your posts.  Heck, I've even taken notes on them!  All I am saying is that with your position comes responsibility.  Maybe it was just a remark in passing but it does have the potential to hurt.  It has the potential to make someone feel unworthy. It has the potential to enforce what they have already heard their entire life.  Words can do that.  

If (3rd class condition) there is an 80% turn over rate in real estate I think it has very little to do with the agent and more to do with the fact that management isn't managing (getting things done through people).  Broker/Owners and other top producers care more about selling real estate than they do about helping their "rookies" to learn the ropes.  This high turn over is due more to lack of training and management than the agent "just couldn't cut it".  I know if my 6 year old comes home with a bad report card it isn't my child's fault.  It is the fault of the parent and to some degree the fault of the teacher.  The parent has failed to train and help their child learn and grow.  It isn't because the child is just dumb, "no good" or can't cut it. The parent has failed and to some degree the teacher has.  Not the child.  It's the same with real estate agents.  Yes, there are some agents that that probably have no business in real estate but we put most of these people through a "baptism of fire" or just toss them off the boat and yell, "Sink or swim!"

The reason Realtors are viewed lower than used car salesmen and attorneys has very little to do with education level...it has a lot to do with INTEGRITY LEVEL.  I hear about many integrity issues every day when clients/customers come into my office and have been working with other agents.  I hear about buyers who aren't explained what agency is.  I hear about LA's and SA's that totally disappear on their clients but want their commission when another agent picks them up. I hear about buyers that are told that certain homes are off the market and not available so that the LA can only show theirs.  I hear about LA's that refuse to honor what they have promised their clients but want to sue the seller if they try to get out of the contract. I've seen LA's take down competitors signs in the same subdivision!  I could write a book on all I've seen and heard. The problem is that you can spend $400 and take an ethics class just to say you have it.  But somethings just can't be taught in a class room and Integrity is one of them. 

I'm not saying that education isn't important.  It is.  I am personally pushing for more stringent licensing requirements at my local board (to take to the state level).  I would like to see Georgia require many more continuing education hours to keep a license and I would also like to see Georgia do like Colorado and require everyone to be a broker.  I require my agents to complete many additional hours of CE credit and to obtain certain designations if they plan to stay.  Yes, they are IC's but that is one of the conditions of having their independence at my office. 

Is it really necessary to point out the perceived flaws of other agents to get business?  Is it really necessary to scare the consumer into listing with a more seasoned/educated Realtor?  I am proud to say that I go on many listing appointments each year and I never have to put down my competition to get it.  Instead, I focus on my strengths and that value that I bring to the table. I don't have to sling a little mud to get business.  I don't have to scare them into following me.  I don't have to point fingers because I know that I have 4 more pointing back at me when I do.

I understand your desire to "build up" your rankings in the search engines but you also have a large readership on here and why not help "build up" your fellow man? 

Jessica, I have devoted my life to building careers in real estate, and I do think that experience and increased levels of continuing education are needed. I tell it the way I see it.  More stringent requirements in licensure are needed yesterday.  It benefits everyone.  Georgia has an abysmal record of loan fraud, mortgage fraud, appraisal fraud, real estate fraud. foreclosures...in many of the wrong fields we lead the nation!  That is not something to be proud of!  It is the wrong category to be # 1 in.  Do you not think that lax requirements have something to do with some of this?  What I've seen in industry in that past few years in our area is shameful.  Poorly written contracts, and verbiage,  license law violations, buyers agents that did not represent the buyers, listing agents that do absolute nothing for sellers... the list goes on and on.  You cannot tell me that the agents are experienced, or are effective.  I do think there are always exceptional agents regardless of education levels.  Most are not.

I am in favor of raising the performance benchmark.  Licensure does not mean skill, it is permission to conduct business.  It does not mean  a person has an MBA, or even works real estate full time, it doesn't mean a person has any skills whatsoever...it just say you are allowed to engage in real estate in the state in which you are licensed.  If we all had the same abilities, why would a seller have to interview anyone?  Why would a listing ever expire?  Why do some listings never sell?  Why do some agents sell 40 units a year, and another only 1 a year?

Jim:

Like I said earlier, I view you as a real expert and I learn a lot from you.  I think you are an incredible person with a huge on-line following.  I see that is an opportunity to do real good in peoples lives.  All I was asking was for you to consider your words and how others might view them.  Sometimes it isn't what you say...but how you say it.  I am speaking to myself as well. 

I've gotten 2 e-mails directly from AR and over 10 from my web site with reference to this thread from members of the community.  Each of them thanked me for taking a stance and they also commented that they have found your words hurtful in the past. One of the messages thanked me but also pointed something out to me as well: That maybe I should have addressed this issue with you privately instead of in public.  That person is probably right....I should have.  For that I apologize.  I didn't mean to high-jack your post/marketing piece.   

I am in 100% agreement with you about what I've witnessed being shameful in our state but I still think that the buck stops with the broker/owner.  It is my view that management has failed to manage and train.  We are more concerned about filling up our offices with warm bodies and letting them do God knows what and God knows where than we are about properly training them.  However, I've seen everything that you described above from all kinds of agents (high school & college graduates).  I think it goes back to the individual and what type of work ethic they have. Just like integrity...it can't be taught in a class room.  I believe in a commitment to mastery and I strive for perfection in my field.  People tell me that I am way to demanding of myself and others.  I just expect more and will not be settle with mediocrity.  If more broker/owners took this stance and insisted upon proper training then this would be less of an issue in our state and around the nation as well.

Again, I apologize for taking this post down this path.  I should have done it privately. 

Jessica, first of all there is no reason to apologize.  This is what dialogue is all about.  I fully agree with you that this ia broker issue.  Many of the Blogs that I have written here are about this very issue.  I feel that many of the new agents are left out to die... high and dry.  There is no reason for this ever.  The brokers need to focus of training, and retention by allowing their agents to be the best they can be.  Brokers have the ability to do this, but instead they've just become recuiters.

Jessica, if you ever want to talk personally via cell shoot me an email.  I would be more than happy to address an issue, topic or opinion.  Have a great day, and I enjoyed your comments, and your persepctives.

Jim:

Thanks for the understanding and I may just take you up on that.  I hope you have a great day also.

Anytime!  Thank you for sharing! 

Holy Cow!  I've never seen that many homes in the Springfield area over $1,000,000.  Your market is much higher than mine, for sure.  Wouldn't it be nice when agents graduated, they would have the knowledge to market a home.  Some do, some have no idea.

I am listing new homes in the $400,000's to $600,000 in Cumming and Barrow. I know that Alpharetta is coming up 400 my way! Keep up the good work!

Teresa Johnson

Thanks for the comments.