Get everything in writing

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This is a true story but no names will be used to protect the identity of the agents involved.  We will call one agent “seasoned agent” and the second agent “newer agent”.

We had a situation between a couple agents in our local MLS where both agents use to work for the same broker and were partners.  One partner was new in the business but on fire and doing great!  The other was a seasoned vet and doing well but always looking to do better.  They teamed up and started working short sales.  They were doing quite well but after a few years the “newer” agent had gotten their brokers license.

That agent had an offer to come be a managing broker at another office in the area so they left the partnership and went to the new company as a broker.  They made an arrangement in writing to split all the commission they had worked on together 50/50.  After a few months their inventory was getting lower on all the things they had worked on together.

The seasoned agent had complained to the newer agent that they didn’t feel it to be fair to have to work so hard on short sales and then split the commission.  The newer agent not having anything pending at the time said ok and the verbally released their agreement.  The seasoned agent closed two properties that would have been under the original agreement and took the whole commission. 

A month or so later the newer agent closed on a property that would have been under the agreement and collected the full commission.  The seasoned agent called the newer agent and said that they owed them a commission on that property because they were saying that it wasn’t released from the agreement.

Obviously the newer agent declined as they fully released their agreement.  The seasoned agent now is trying to go after the newer agent and taking them to the MLS board, and slandering them to other agents. 

This goes to show that you always have to get everything in writing!  Doesn’t matter how close of a friend you think a person is you still need it in writing because you might end up having to defend it. 

Hope this never happens to me, or you but if it does have it in writing so you can defend yourself.

Jimmy Gilley
Cressy & Everett Real Estate
Niles, MI 49120
Mobile – 269-362-4841 (Primary)
JimmyGilley.com
jimmy.gilley@comcast.net

             

Good bye 2010, Nice seeing you!

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As the end of the year draws closer it makes me reflect back on the year in review.  This year has brought about a career change for the better.  I have spent the last 5 years in IT as a network administrator and web developer. 

I have enjoyed my career as a IT professional but it was time for change.  The company I was working for was slowly dying as it grew closer to becoming the dreaded out sourced!

Real Estate is one of those things that can never be out sourced!  Homes will always be in America and represent the American dream.  Of course a few here and there will come and go but this country is still the greatest nation in the world and people want to be here!

So here is a toast to all of the real estate agents, brokers, and all the other of millions of people who make home ownership possible in this great nation!  Happy New Year and I can’t wait to see what 2011 will bring us.

Jimmy Gilley
Cressy & Everett Real Estate
Niles, MI 49120
Mobile – 269-362-4841 (Primary)
JimmyGilley.com
jimmy.gilley@comcast.net

             

Michigan Realtor State Exam

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Study, study study


Since I have made the decision to join the ranks of the real estate agents in Michigan, I had to take a pre-licensing class.

This is normally a 40 hour class, but having taken it online, it took me closer to 60 hours to complete. Have you ever taken a law class? If not, then let me tell you what this is all about. You must absolutely love definitions, Latin terms, and funny word structures such as avulsion, qualified fee simple estate, and ad valorum tax.

It isn't too terribly difficult if you put your mind to it, and I just have the mindset that despite not being interesting, it is a necessary obligation.

What this means for you


I know I am sort of complaining about it, but understand that this is all for you. As a prospective agent, the state has me go through this to ensure that once licensed, I will know everything that I need to, in order to better serve your needs as a home buyer or seller.

Next step


Since I have completed the course and received a passing grade, it is now time to take my state exam. This is the next big challenge, being the only thing between me and my first big goal of becoming a full time real estate agent.