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Stop giving away information to consumers - they won't "need" us . . .

In the December 2008 issue of REALTOR Magazine, a REALTOR wrote in on the issue of "Why pay for what's free". His contention is that agents putting extensive information on their websites are simply "trying to show people how much smarter they are than everybody else to attract customers." He goes on to say that this is the reason that the "general public has stopped calling". In other words, stop giving away free information and start making people call you.

Hum... I don't think this agent "gets it". He simply doesn't understand todays "information exchange" and definitely doesn't get Web 2.0. He'll be one of those lost in the abyss in 3-4 years as the whole "information available to everyone" becomes the norm (isn't it already??).

By providing as much information as possible to you, the consumer, I am not trying to show anyone that I'm "smarter than everybody else". Rather, I'm trying to provide as much information as I can to you, the consumer, so that you can be better informed and you can know without a doubt that I am experienced, qualified, knowledgable and able to assist them in their real estate endeavors.

Every time I find myself providing information to a client or prospective client, I immediately think "hey, I bet there are more people out there with this same question" and that's when I decide to blog about it.

Anyway - I just thought that the comment this agent made was extremely out of date and unfortunately, all too often, is the perfect cliche of an agent - their value is wrapped up in information hoarding - when in fact, my value is wrapped up in my ability to get a complicated, high stress, high dollar transaction completed safely, smoothly and legally.

Posted by Coeur d'Alene Real Estate - Come Live the Life Style - Christina Ethridge on 03/27/2009 02:26 PM

Comments (37)

Giving Information to Consumers - Don't Do It! in the Online Marketing Channel

north idaho, real estate, coeur dalene, post falls, hayden, home, for sale

Originally posted at: Coeur d'Alene Idaho Real Estate & Property Management: Stop giving away information to consumers - they won't "need" us . . .

This post has been included in Idaho Information Kootenai County, ID Information Coeur d Alene, ID Information

37 Comments on Stop giving away information to consumers - they won't "need" us . . .

MAR

Hear, hear! I couldn't agree more. Thanks for putting it so well.

You are right. However my problem is with the customer who has already registered to receive free list of homes for sale on 10 other real estate agents website and still wants to get more information from you. How much information do you need? But what can I say information today is available everywhere for everyone. Congratulations on the featured post Christina.

Just because I know how to paint a room or cut the grass doesn't mean I want to do it myself. And I can read blogs all day long about how dentists fill cavities or do a root canal, and that doesn't mean I'm gonna try it on anyone in my family. Hopefully the blog is a conversation, one side of an interview wherein the blogger answers questions he/she anticipates the target audience having. It builds trust - you know, the third part of know you, like you trust you (the three things necessary for someone to hire you).

Christina, You are right he doesn't get it. He is right though that people don't call anymore. Now they just send me an email and hire me. Theirs qustions have already been answered and they already know how I handle my business and how much I charge. All that's left is the hiring. My phone rarely rings and I LOVE it!!!.

Hmmmm . . . Donald Trump (big deal) is coming into town soon (Portland, OR) to tell us "How to" . . . do it.

He's going to be telling us how to make ga'zillions. Apparently, he feels we need him, and his wealth of information.

Everytime I go out on a meet and greet, to talk with potential clients, I give them an hour of consultation for free. That's the FREE part. They want me to represent them, and I'm happy to do that, but we've got to enter into a contract of representation first. That's NOT the free stuff.

If they want to do my job . . . let them!

Ask a FSBO how easy it was to put the deal together, or the buyer who went with the SELLER'S agent -- and has nothing but bad things to say after the deal closed.

People want to "pick my brain" about real estate . . . let them. The hour I give them is NO WHERE NEAR the 10 years of experience I have in the business of real estate acquistions. Let them get licensed and do what I do. Life in the trenches, as it were.

Hmmm . . . yeah, good luck with that!!

You can read about how a dentist pulls your wisdom tooth too! It's on the INTERNET! But, only an idiot would try to DIY. Typically, people will go to the dentist and OPEN WIDE!

P.S. My 'dentist' analogy had nothing to do with Margaret Woda's comment. My hand to G*D! I was busily writing my comment, and Lanre was the next in line above me. I posted, and then saw Margaret's comment. Hmmm . . . I'm scaring myself

the agent that wrote that article is probably wondering why no one calls him, and they are all calling us...I have gotten more business from people who have googled me to see my market reports and such, which gives me credibility, and shows not that I am "smarter" but one of the most professional agents in my marketplace, which is the goal..

Lanre - I don't care how many sites they register on, if they are contacting me for MORE information, I am going to get them whatever they need, and know that in the long run, the time I invest in all of those clients will pay off with a higher conversion ratio that my competetors who 'give up' on an internet lead because they are not ready to buy yet

I would agree; why not be the source of valuable information and tools as you suggest!? With the number of "free" resources available to real estate consumers I would think it's a benefit they come to you (us) for what they need. It may be just the opportunity needed to connect and pull them in as a client. I think you also have to limit how far you are willing to go before you know they are committed to you. Thanks for sharing your ideas!

Great post! In today's economy our clients looks to us for help. We just posted a blog about the new government site to help homeowners who are struggling to make their mortgage payments. Check it out.

Our primary mission is to connect buyers with sellers and get the deal closed. The free-information highway won't ever change that.

Thanks thanks and thanks y'all - I am sorta preaching to the choir here!!!

I would have to agree with you. I think by posting relevant information on my website, I am demonstrating my commitment to following the market, and staying on top of trends. I showcase myself as a knowledgable real estate professional that is in the trenches every day. I think it's exactly the opposite - I think by posting this information I draw clients to me. I just got one last week who got to me through my Active Rain Outside Blog. I post market information and listings there...

This is the information age. We do our customers a service by giving them as much information as they can carry. Our job is to convince them we are the best ones to help them interpret what they take from our site and what they hear in the news about the real estate market!

Great post!

Yonas Woldu

Prudential Americana Group, Green Valley Office

www.askyonas.com

For every real estate problem, I have a solution, Now let's make it happen!

I've bought and sold 7 properties in 12 years. I always choose the agents who appear most knowledgeable in the area I'm buying or selling in. This agent that wants to hold onto all "his information" probably also has one of those websites with zero content other than what his broker gives him, and shows his listings with a single photo of the outside.

Thanks for the great post!

if they don't get it from you they will get it from somewhere else. That old why would they buy an ice cream truck if you are handing out the popsicles for free addage doesn't work anymore.

Christina - It is sad that many agent still have that mindset. Like you I want a more educated consumer and then I welcome the email requesting my service.

Internet agents are so different than the traditional crew. When we provide them with the information they want they value our expertise and have a greater desire to use us.

Good headline. I clicked to read, ready to give an opposing viewpoint. Unfortunately I agree with your post.

Christina, there are some agents that are so afraid of change. I agree with Tracy and Margaret as well. Todays buyers know they can turn to the Internet for everything....they are hungry for information. If our style, our knowledge and excitment about the market gets through to them, they call. I loved you complelling Headline...it made me look.

Christina,

You may be surprised to see that outside of AR there are many people who would think this way. Members come to AR because they have already decided on this before.

There will be a lot of surprised for many of us in the future, and the idea f a control is not one of them. this was a yesterday's surprise, and we are not going to that no matter how we might want it.

Well, being realistic people, we don't.

Congrats on the feature, Christina! You are absolutely right here...I give away all of the information I can, and it's lead to more business than I can handle on my own. Hmmm...hoard it and sit around waiting for the the phone to ring or give it away and work my butt off? I think I'll keep giving, giving, giving :)

Well said Christina. I find that the more information I give people the more they seem to not "need" me but "want" me to work with them ;-)

Good stuff Christina. Yes pretty soon all the information will be out there and our job will be the ones that can make sense of it all.

Christina - When to give and when to charge ... there is a fine line between the two that is miles across ... we give information we should charge for services ... the difference is knowing at what point the information we give should be a service we provide.

Even IF he was right, which he isn't, it is too late. The horse is out of the gate and it is't coming back. Those days of holding onto information is so over.

Just a thought if we give them all the information including how to's, such as writing the contract etc, then why do they need us. Maybe there is other information and not just real estate information that we are giving them.

I only represent investors and buyers for their homes so I miss out on all this sharing. Investors actually buy and sell homes, a side benefit is the selling to their buyers. But all they want is a good deal and make money, which is also what I want so it is kinda mutual.

I've been a proponent of giving them information since I put up my first web site in 1997. There was fear then in the industry. Terror actually, that people when given enough information wouldn't need us. I never believed that and because I walked that lonely road (at the time) I began to do a lot of Internet business. It was buyers who contacted me in the first few years. Then sellers came on board. Not only do I believe people deserve information to make intelligent decisions, the by product is I get to work with people who make my job easier. They've done the initial homework themselves. By the time they contact me, they're ready to act.

This is a really good debate in which I can see both sides.

I get the importance of sharing information with consumers, but I also think that if instead of showing them the entire movie, you may get more interest by showing them the "trailer".

I think of it in terms of sending out a pre-listing packet. If you include the CMA and pricing suggestion in the packet, you have spilled all of the beans. There needs to be a reason for the person to pick up the phone and call you or meet with you.

He's actually right... if EVERYONE shut up with the blogging, then people would have to call. But, information wants to be free. We need to help it be free...

Tim - I love it!!

Kathy - No amount of me sharing information will ever replace my experience and ability to negotiate for my clients. Unless one is working in this industry, heavily and actively, it is impossible for someone to "figure it out" on their own. Consumers that have sold FSBO without issues have been insanely lucky. The art is being able to keep the impossible together and frankly, most transactions now days are not simple and easy.

Thanks all for sharing your thoughts!

Thanks for sharing this great post!

The paradigm has shifted and the web 2.0 generation is making business happen.

No amount of free stuff can replace building a relationship and depending on someone with the experience to get the job done!

Have a Profitable Day Everyone!

Harrison Painter

The more we "give" the more we get. It is counterintuitive, but it works. That is the reason why brokerage has thrived thanks to the Internet when other indutries have been decimated by it.

It is a wonder agents like the one you have metioned are in business anymore.....

When you see that 80% of people find their agents ONLINE... you had BETTER be giving the BEST information out there...or you will LOOSE...

That agent belongs back in the days when we had the books and no internet.

We're living in the information age, and that's what the consumer expects. If they can't find it, they'll click elsewhere.

MAR

Ha! Well, obviously he has this opinion because the general public isn't calling him. He's not "with the program" and isn't providing information of value, so doesn't realize that instead of calling him, they're calling the rest of us :o) Those of us who are providing quality information and are easily found online, have plenty of contacts from the general public and are closing deals because of it. Good for us :o)

The agents that see their job as being an information gate keeper don't have much of a future in the information age.

I did find his comments very interesting (obviously, I wrote this post about it). What I also found interesting is that there was no "rebuttal" to his comments. It just seemed so out there. I've felt this way long before I began participating in AR in '06... it started in '95 when I first put us on the web with our own website. I personally felt the tug to provide more and more information eliminating the waste from my business life (the waste of answering the phone constantly to give the price of a home, or to answer a question about what schools are nearby, etc.)

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