When a real estate broker’s bio says they have been in business for many years, consumers may interpret that to mean they have a lot of experience, when that may not be the case at all.  Consider the myriad of brokers who do just a few transactions per year to supplement other income and who really don’t have much experience, despite touting many years in the business.  Compare that to a full-time newcomer who immediately builds a robust business and can claim a very expansive resume when it comes to their number of Closed Sales and real experience.  There is a difference between years-in-the-business and tangible experience in transactions!

While it is true that brokers must attend a certain minimum number of class room hours to renew their broker license every two years (and to stay refreshed on industry changes), real hands-on-experience is what gives brokers the edge they need in terms of education.  So, how do you find that experience in a broker?  Or do you even care about that?  Should you ask how many transactions they personally handle every year instead of how many years they’ve been in the business?  I know brokers who have logged 20+ years in the business who are far from being experienced professionals. When someone has actual practical experience, it matters!

There is an old story that has circulated the internet that goes something like this: A giant ship engine failed.  The ship’s owners tried one expert after another, but none of them could figure out how to fix the engine.  Then they brought in an old man who had been fixing ships since he was a youth.  He carried a large bag of tools and he went immediately to work.  He inspected the engine carefully, top to bottom.  Two of the ship’s owners watched the old man, hoping he knew what to do.  After looking things over, the old man reached into his bag and pulled out a small hammer.  He gently tapped something and instantly the engine lurched to life.  He put his hammer away.  The engine was fixed!  A week later the owners received a bill from the old man for ten thousand dollars.  “What?!” the owners exclaimed.  “He hardly did anything!” so they wrote the old man a note saying, “Please send us an itemized bill.  The man sent a bill that read: Tapping with hammer……….$2.00.  Knowing where to tap………..$9,998."