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One in all my brokers got here to me not too long ago with a query from a shopper. He requested her, “What’s the distinction between an actual property agent and a used automobile salesman?”
Now, that appears like the start of a (in all probability upsetting) joke, however her shopper’s a simple man, and he sincerely wished to know. And in the event you take a look at the information round probably the most and least trusted professions, amongst those that charge our trustworthiness “common,” we’re not that far aside: 44.9 % of respondents see used automobile salespeople as having common trustworthiness, versus 56.12 % who see actual property brokers that method.
We fare just a little higher on the ends of the spectrum. Extra folks see us as excessive or very excessive on the trustworthiness scale and fewer see us as low or very low, however there’s actually numerous room for enchancment.
There’s a stage of professionalism that some actual property brokers don’t maintain themselves to. In the true property business, some folks see themselves as salespeople and get targeted on the fee — what I prefer to name getting “fee breath” and chasing that greenback.
That’s totally different from appearing as a trusted fiduciary and fascinated about what’s in the most effective curiosity of the shopper. The extent of professionalism you convey to the desk units you aside, and it helps outline you.
If it’s important to evaluate your self to a automobile salesman, a minimum of be a high-end automobile salesman, like a BMW, Mercedes or Lamborghini — somebody who’s promoting the exotics at a better worth level. They’re not as nervous concerning the fee as the standard used automobile salesman.
All joking apart, it is a widespread analogy, and I’m not shocked that this shopper requested this query. Simply give it some thought: Research present that we now have related ranges of belief, but we’re promoting any individual’s home or serving to somebody purchase a home.
That ought to give us all pause.
Setting the expectation and establishing a stage of service
So why does that notion persist, and the way will we overcome it? I feel we begin by defining ourselves in another way proper out of the gate, setting the extent of expectation and repair that we’re offering proper up entrance with that first shopper communication.
We’re by no means going to have the ability to change unfavorable perceptions about our business except all of us begin altering how we function, how we act, how we view ourselves. The unfavorable notion is nearly a mirrored image of the self-perception of some brokers.
I’m an enormous believer in valuing your individual time and behaving in a very skilled method.
When my son isn’t feeling nicely, I’ve to name the physician at 8:30 a.m. to get an appointment for the day. If I don’t, the physician will e-book up. The physician’s workplace received’t keep open late so we will get in, and so they’re not going to hurry in early to look in his ears.
Once you’re leaping by hoops to satisfy a shopper at 7:30 p.m. to point out them a home quarter-hour after they known as you, or dropping every little thing you’re doing each time they let you know to, that’s just a little extra used automobile salesman than what your physician, your legal professional or one other skilled would do.
We are able to’t, as people, change all the stigmas that exist round our business. It’s on the market that brokers are commission-hungry, that they receives a commission an excessive amount of and so forth. However you’ll be able to change the notion on a person foundation by the way in which you conduct your self and the extent of service that you simply present to your shoppers from Day 1.
Info-gathering vs. relationship-building
When somebody walks right into a automobile dealership or onto a used automobile lot, the data they provide is all concerning the nuts and bolts of the kind of automobile they’re in search of and the cash they’ve out there for his or her buy. If that’s the way in which you’re approaching the preliminary purchaser or vendor assembly, you’re appearing like a automobile salesman.
Our job is to create a relationship and consider the standards round their targets to find out how we may help that shopper. As an alternative of trying to qualify them for a mortgage, we’re serving to to find out how that shopper matches into the huge spectrum of the true property world. Our job is to information, to not promote.
The home (apartment, co-op or lot) will promote itself as soon as we current it, so long as we all know the shopper and their wants.
That additionally means we’re not right here to “soup up” that property. We’re right here to make sure that consumers and sellers are making the proper selections, giving them the information and the worth they should make these selections.
We’re not simply right here for the numbers as a result of we all know that if we deal with them proper, these shoppers will come again later. They’re going to have kids; they’re going to have sisters and nieces and associates who they’ll need to seek advice from us. We’re going to construct these relationships to construct that long-term referral community.
So, we’re not application-based. We’re criteria- and relationship-based. And that’s one factor that I feel even our shoppers overlook about. It’s extra than simply the sale.
Let me say that once more: It’s extra than simply the sale.
So what’s (or must be) the distinction between a automobile salesperson and an actual property agent? The one factor they’ll provide their buyer that has worth is the automobile. We’re providing a lifetime of information and expertise, and that’s what separates us.
Like lots of you, I take a lot pleasure in my work, and I worth the friendships and relationships that I develop with each certainly one of my shoppers. Do not forget that every little thing you and I do displays on each different agent and dealer within the business. It’s value displaying up at our greatest each single day as a result of that permits us to make our little nook of the true property world higher.