Corinne Guest, Barrington Lifestyles (Corinne Guest, REALTOR® | Barrington Realty Company)

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Rainmaker
4,854,437
Richard Weeks
Dallas, TX
REALTOR®, Broker

Should an OBGYN have had a baby?

Feb 18, 2016 06:20 AM
Ambassador
3,160,329
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

No.  Should a funeral director have to die before they can conduct a funeral for someone else?

Feb 18, 2016 01:00 PM
Rainmaker
1,840,356
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Well, you can tell when they haven't. My story begins with Inman news who used to feature a real estate blogger/writer who NEVER bought a house. She used to just have this odd thought process when writing about it & then one day she wrote she purchased her first home!

Think of it - writing about real estate without selling or owning any.

If not owning, at least actively selling.

Feb 18, 2016 05:45 AM
Rainmaker
908,918
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

No, that will never happen. Should an agent have to go through a short sale before they can list one or represent a buyer in one?

Feb 18, 2016 05:58 AM
Rainmaker
1,153,744
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I see no bearing on how the correlation could make any difference in any transaction.

Feb 18, 2016 08:11 PM
Rainmaker
2,759,787
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Interesting question, but I don't think so. There's a lot of new agents that are still renting.

Feb 18, 2016 05:19 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

It is the same as asking if a cardiologist should have surgery performed on him or her in order to perform surgery.

Feb 18, 2016 03:16 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Absolutely not. Where would their first sale come from?

Feb 18, 2016 01:14 PM
Rainmaker
1,525,616
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

NO I don't think that is necessary.

Feb 18, 2016 11:55 AM
Rainer
97,471
Shannon Thomas
Selling Indy Metro, LLC - Avon, IN
Managing Broker, E-Pro, ABR,SRS, SFR

Even though I have bought and sold many properties over the years, being a real estate agent gives you unique knowledge that wasn't available in just being the purchaser or the seller.
The education that I have had as an agent has been much, much more then my experience ever as a home owner. No I don't think it should be a prequisite to being a real estate agent. There are great writing teachers that aren't good at writing books. Great men Obgyn's that are male and we know they don't have babies.

Feb 18, 2016 08:39 AM
Rainmaker
564,720
Women of Westchester Working Together
Women of Westchester Working Together - West Harrison, NY
Women helping Women get ahead

LOL I was thinking the same thing as Richard Weeks.  And, same goes for oncologists.

As a past marketer at P&G, this question would come up often.  Could a guy work on feminine protection?  Could a woman work on Old Spice?  Could a non parent work on Diapers?  What about dentures?  Of course.  The key is to understand the consumer and their needs and solve their problems.

Feb 18, 2016 08:08 AM
Rainmaker
1,712,551
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Absolutely not.

Feb 18, 2016 07:43 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

No

Feb 18, 2016 07:41 AM
Rainer
150,416
Michael Thacker - Re/Max Real Estate Center - Louisville
Re/Max Real Estate Center - The Thacker Group - Louisville, KY
Your best friend who just happens to be a Realtor

What would be the reason? 

Feb 18, 2016 07:25 AM
Rainmaker
1,046,944
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

OK, funny story: When I hired agents, I ALWAYS asked at interview how many personal transactions they had done - to me, it indicates how much empathy they may be likely to have with our clients.
I asked this Q of my now going on 14 year assistant/buyer's agent . . .
"How many transactions have you been personally involved in?"
her answer was, "ALL of them!"
I didn't know it then, but they own MANY properties, bought and sold in 3 countries. She gets it. ;)

Feb 18, 2016 06:03 AM
Ambassador
5,033,427
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Not a requirement but a very good idea - you have real world idea of what it's like and can better understand the issues a client must deal with. Same with relocation

Feb 18, 2016 05:54 AM
Rainmaker
1,531,144
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I'm going to polarize myself on this one: YES! And Yes, I did. I owned 2 homes before I got licensed actually, one primary and one investment.

If not owned, than required to partner with their broker on their first 3 (buyer) sales & 3 listings, before being allowed to be on their own.

It does have a bearing on the advice, the empathy and the experience one brings to their client. Furthermore I've read the contrary arguments here and they're thin points at best. Having a minimum standard is what we're talking about here.

I'd want to know my finical adviser is worth more than me, when getting started on my portfolio too.

I like Lyn Sims post too.

Feb 18, 2016 09:06 PM
Rainer
80,653
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

It will never be a requirement, but personal experience is very educating and helpful.

Feb 18, 2016 11:16 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I don't think that should be a requirement. Owning a home isn't for everyone. 

Feb 18, 2016 11:04 AM
Rainmaker
760,733
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

No, just like a doctor shouldn't be required to have surgery or a lawyer need to be sued.

Feb 18, 2016 10:34 AM
Rainmaker
4,976,070
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Certainly not a requirement but would be beneficial! Loved Richard Weeks comment!

Feb 18, 2016 09:25 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Corinne,

Richard Weeks has my vote for the best answer.  A

Feb 18, 2016 08:25 AM
Ambassador
1,074,421
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

While I get your point, I dont think so.  No more than a science teacher should have to have experience as an astronaut.  

Our industry is one where you can certainly learn from experience, but personal experience isn't necessary to do a truly great job.

Feb 18, 2016 07:22 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

I no longer own real estate in my name; it is all in a company with the kids.

 

Feb 18, 2016 06:50 AM
Rainmaker
152,561
Chrissi Chapman Topoleski
Coldwell Banker Realty - Woodbridge, VA
Helping agents live an exceptional life!

Not a pre-requisite, but it certainly helps. Having been through the same process your client is going through helps you better prepare them and gives you some insight into what might be going on in their minds.

 

Feb 18, 2016 05:51 AM
Rainmaker
5,850,312
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Some newer agents are young, and have not put together a down payment.   I don't think so.

Feb 19, 2016 10:48 PM
Rainmaker
979,496
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Corinne - No, I don't believe that. There are lots of coaches in professional and college sports who never played at that level. However is is becoming more rare.

Feb 19, 2016 02:31 PM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

Corinne,
Some of the most interesting answers and viewpoints any question has had in a while.

Feb 19, 2016 01:22 PM
Rainmaker
1,498,708
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No, but it should be a pre-requisite to vote (like it used to be)! 

Should a pilot have a personal 777? Should an astronaut have a space shuttle?  Should the Pope actually talk to God?  Should a barber have hair?

Feb 19, 2016 04:00 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Corinne Guest, Managing Broker I believe a psychiatrist has to go through therapy before practicing. Maybe, yes!

Feb 19, 2016 01:39 AM
Rainmaker
7,794,756
Roy Kelley
Retired - Gaithersburg, MD

No.

 

Feb 19, 2016 01:34 AM
Rainer
423,302
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I like the "devil's advocate" in this question. 

I can't say it should be a pre-requisite, but if they do own then they can empathize better with clients, IMHO.

As far as the mortgage lender goes, I'd prefer they not be burdened with the cruelty of a note hanging over their head. Then I think we would have more cheerleaders for responsible lending and borrowing on our team. Also have someone encouraging lendees to accelerate their payoff, so they'd have more cash to retire and invest in more real estate.

Feb 18, 2016 11:57 PM
Rainmaker
5,583,173
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

no to all of those questions....

when one is financially able to buy real estate, then, and only then should it happen.... that does not mean that someone who is renting is not capable of marketing and closing buyer and sellers..... 

Feb 18, 2016 11:40 PM
Rainer
223,831
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

Tammy has a good point

Feb 18, 2016 11:03 PM
Rainmaker
4,555,011
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Not a requirement but certainly can provide a better understanding.  

Feb 18, 2016 10:18 PM
Rainmaker
5,194,022
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not necessarily! Many of the guru trainers out there have never sold real estate and they get by!

Feb 18, 2016 09:46 PM
Rainmaker
1,723,026
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

That makes no sense. It is a personal choice.

Feb 18, 2016 09:19 PM
Rainmaker
2,219,617
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

No, why would you require agents to own real estate?  what's the purpose and what do you think it will accomplish?

Feb 18, 2016 09:08 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

No

Feb 18, 2016 08:56 PM
Rainmaker
5,096,466
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

What Richard Weeks said!

Feb 18, 2016 08:51 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Corinne. I don't see it as a pre-requisite, but is is certainly easier to understand the process that a prospective buyer goes through.

Feb 18, 2016 04:37 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

I do not think it is necessary, @corinne.

Feb 18, 2016 02:51 PM
Ambassador
6,357,805
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Absolutely, best to always walk in your clients shoes, and do it often.

Feb 18, 2016 02:42 PM
Rainmaker
140,768
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

I think it is helpful so that the agent can experience what their clients go through, but not necessary.

Feb 18, 2016 10:42 AM
Rainmaker
2,171,011
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Lead by example ?

Feb 18, 2016 06:18 AM