News
October 6, 2019

Rookie Realtors® lean into their new profession

By KAREN RANDOLPH   


KAREN RANDOLPH
2019 NETAR President

Last week we did something new at the Northeast Tennessee Association of Realtors® (NETAR). With some sponsorship help from Eastman Credit Union, we conducted our first Rookie Roundtable. One more in on the calendar for our Rookies this year.

NETAR members attend mandatory orientation and complete required course work going beyond the state licensing examination. The lion’s share is dedicated to formal continuing education focused on the National Association of Realtor’s® (NAR) Code of Ethics. The code defines the lofty aspirations of our profession and differentiates a Realtor® from someone who is not a member of a local, state, and national association.


New Realtors go over the ABC's of their new profession

Our Rookie Roundtable was a step above the norm. It was “after hours” and strictly voluntary.  The discussion included Code of Ethics elements, but there was more to it than ethics. It was an opportunity for them to take a look at themselves and the industry they have joined.  They had the chance to listen to some advice and anecdotes from seasoned Realtors®.

One of the top goals of NETAR and NAR is to cultivate and nurture the highest, most ethical, level of real estate professionals possible. It is big job; just as real estate is a big business.

NETAR currently has a little more than 1,300 members. Like all other professions, there is a constant churn. Membership goes up and down as new licensees join and other members retire or move into another line of work.  We are very interested in new members because our ranks – like the demographics of the region – are getting older.

Having real estate professionals who adhere to a high standard as prescribed by the Code of Ethics is important. Real estate transactions are the biggest financial decision many individuals make. The result of those transactions usually accounts for about a third of their monthly personal finances.

Step back and consider the bigger picture.

Working through a Code of Ethics exercise
Working their way through a Code of Ethics exercise

Real estate is a major regional and local economic player. Last year the sales volume for existing home and townhome sales were a little more than $1.3 billion. That number is major, but it does not include the economic multipliers that come into play when a home is sold. It also accounts for about 15 percent of the local economy, and real estate has been - and continues - to be a leading economic component in the region’s continuing recovery from the Great Recession.

Don’t forget most Realtors® are what the Census Bureau and Internal Revenue Service call single-employer businesses. They are independent contractors and entrepreneurs. In fact, they comprise the sixth largest group of single-employer business in the Tri-Cities and have well over $200 million a year in gross receipts.

Being a good Realtor® is a hard and consuming job. There are a lot of details involved plus high-pressure and stress are ever present. After watching the latest crop of NETAR rookies during the roundtable, we are optimistic. They are eager and willing to invest in meeting the high professional standards of their calling. After the session, they seemed more confident and had a few new skills in their Realtor® toolkit.

NETAR is the voice for real estate in Northeast Tennessee. It’s the largest trade association in Northeast Tennessee, Southwest Virginia region representing over 1,300 members and 100 affiliates involved in all aspects of the residential and commercial real estate industries. Pending sales, monthly Trends Reports, and the regional market analytics can be found on the NETAR websites at https://netar.us/voice-real-estate-northeast-tennessee .

 

 

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