Hey Cyndee, awesome blog to talk about it,  I will post here later on :) keep the good blog :)

Some want the option of doing some of it themselves.  Not all of it, but some of it.  I find it trips me up to try to break down the services, it impedes my flow and isn't helpful.  Sellers anway.  When buyers find their own properties, that does make my job a lot easier.  Sometimes they can do some of it themselves. 

Cyndee... so very true.... I lose many deals to true online lenders. Sure, I can some what consider myself an online lender.... because I am blogging for business. But what you talk about is basically called bait and switch. It irks the hell out of me.... I have written a few posts in regards to rates and clients shopping themselves out of the market.  good post...

I don't know about putting us out of business, but business won't be the same.  Online shoppers are different than the "traditional" client.  I have gotten several leads online, and most of them seem to be shopping.

Ray thanks for checking in - I'll see you back later. 

Cyndee, So, so, true. I am working with buyers who were determined that they had found the best deal with an on line lender. I had them call few of the lenders I work with and I think each phone call was an eye opening experience for them.

Ardell, Hope your Radio broadcast went well today. Thanks for checking in.

I agree clients are more savvy today and  they are more involved in the process and that helps a lot- however, even when you find a home to buy or you are able to find a buyer for your home - you and I both know there is so much more to any transaction than that. That's really what I'm speaking to.

Yes it's hard to articulate but I realized that when it "looks too easy" (which is what our job is!) people often don't realize ALL that goes on behind the scenes.  I find when I share with home buyers or sellers the almost 100 things that can go wrong in any transaction they realize why they need a local full-time pro working for them.

When there are problems - and I resolve them. Instead of saying "It was no big deal" and undermining my vlaue- I take the opportunity to thank them for noticing and let them know that's why they hired me. 

If real estate transactions never had any problems - I'm not sure you'd need a real estate consultant like us - that's when we earn our pay. As so many others have said, you're paying for our knowledge and expertise - and when does that become obvious? When there are problems...

Ardell, I hope you'll weigh in often! Thanks for visiting   

Jeff,  You are so right - I agree there's a huge difference to me in what we do - marketing and educating potential clients online - where they can safely get to know us and being a nameless face behind the Mortgage Oz!

I think mortgage professionals are closer to the slippery slope than realtors right now - but we could slide right behind you with @illow and others eyeing the perceived "easy money".

The biggest thing I see that a true mortgage consultant has is the ability to understand clients needs and put together the loan that's right for them - not just stuff em in whatever makes them the most commission. So I guess that applies locally as well as online. 

Trust me - you don't even want to get me started on all the Mortgage toads I've had to kiss to find some real princesses and princes to work with. Good mortgage professionals like you are as hard to find in Tampa Bay as in New Jersey!

Thanks for visiting and hope to see you again soon! Your insights are always appreciate.    

OH, I forgot, I called it. In the picture you have posted (the stack of jeans) I am the pair of jeans that sits on the top of the stack. Ha ha.

Anne, I was being a little retorical - we have marketed online heavily for almost 2 years and have over 1000 people in the pipeine currently - I would say that I believe they are similar - just earlier in the process and wanting info not pressure until they are ready to buy.

We actually have an opportunity to build a relationship so they are comfortable working with us when the time is right.

However, I  still sift and sort and don't work with people who don't value what we do and how we do it. I have some criteria:

• no nasty people;
• must be honest about what they want;
• must be doing something in the next 6 months; 
• must want to work with just Jack and me;
• must be realistic - to name a few; 

Mana - you are so right my friend - you are the tops of all real estate agents in Camarillo California! Thanks for weighing in you always are right on!!!! 

Cyndee....  thanks for the compliment...  And I can even do Florida...  ;o)

Jeff, Always good to know because I don't want mo more stinking warts from kissing mortgage frogs :-) 

Cyndee....  not to worry, I don't give out warts.  ;o)

Dear Cyndee, I am back with more power, just kidding you ( teasing ) LOL, ok, I love your blog, how you did it, how you expressed yourself on this one and how you explained it,

well, everything that you wrote is true and let me tell you something,   I know some competitors that tell their "prospects" or clients that they will give this and that, and blahh blahh blahh and blahhh, 

what happens on the closing date?    the interest rate that they supposed to have or the aproximately that they gave, was not he supposed expected and was much highger,  or in the closing costs they have to bring more money than it was expexted to, that happens always with those kind of competitors, so I have seen that, when you are very very honest with a prospect, you need to add a plus so they can believe on you and trust you, so they can not go with the wrong one or the "liar", they get their clients lying that they will this and that, they do not care in the long run business, they just care to make some good mone for a short time and then dissapear, I have explianed that to people who consult me and they know that, because they have heard of that scenarios happened to friends of them or people that they know family, etc.  

Jeff - good to know! Hope you'll visit often - enjoy having you here.  

Ray - you are so right. Since more people only buy a home every 7 years they don't see what we do everyday - the bait and switching that goes on is disgusting. It's so hard for people to understand that what some people DO and what some people SAY are 2 different things.  

I'm someone who always pulls on my big girl panties and tells the truth - even when it's not what someone want to hear, because we can work with the truth, we can make a plan and we can acheive the buyer or sellers goals.

I have NO tolerance for people who don't tell the truth. That's why it's been such a process to find good mortgage people to work with. I know that when an honest mortgage person tells me something we can count on it - who wants to get attached to a home and spend money again on inspections, surverys and appraisals and then the closing costs get "jacked up at the last minute" and the buyer can't do the deal or is total caught by surprise. I HATE these kind of surprises. 

As always, thanks for sending me greetings from Aurora Colorado!

Cyndee - I'm commenting :)

Great post.  This is my opinion:

• The current savvy "young adult" generation is more independent and risk takers - they probably will do as much stuff on-line as they can out of convenience and to "save" money
• Older generations are probably fueled a little by fear and so will search the internet for information but will probably be hesitant to trust in on-line transactions - they want people (but they might be overinformed)

Maybe a little over-simplified but there will always be people who want to talk to a live person and those who prefer the automated system.  It will be interesting to see what the future holds!

Joddie - thank you for visiting "and  commenting" - it is always appreciated here. 

It's interesting in the way you catagorized 2 generations. I agree that the younger the client the more probable that they will start their search on the internet. The scary part is the way you describe the savvy young adult as doing a whole transaction on line to save money - I agree that's a belief - but I haven't seen the "savings" to be a reality (while we saved our buyers almost 9% on average)- there-in lies the challenge for us realtors and mortgage professionals - educating our potential clients.

I think young people buying there first home definitely benefit from using a buyers agent like us and a mortgage professional who's looking out for there long term objectives. Having never bought a home do they understand the importance of inspections (or do they skip them to save money); Do they understand that you can negotiate to have the seller help with closing costs and if they have cash - save it to use to update / paint, etc when they move in, Do they understand the real value of the home and that they have an opportunity to "buy right" with the right realtor helping them?

My concern is do they even know the questions to ask much less the answers already?   

I am surprised at how many buyers believe that there's a fee to use a real estate agent - and while some people charge buyers a fee - when we work with buyers our fee is paid by the seller's designated co-brokerage fee. 

Would you do surgery on yourself? I wouldn't I'd hire someone I trusted to do it  - With real estate being most peoples biggest financial vehicle - I believe you need a consultant like us working for you.

The mother of a friend of mine just walked away from over $100K in equity in a beach home because there was a problem on the title that was done "between friends" - a simple signature on a refinance caused her mom to lose clear title to her nestegg. She NOW knows the value of a good realtor - unfortunately TOO LATE for this home - but we now do everything else real estate related for them!      

Joddie - I hope to see you again soon :-)     

Cyndee, excellent post!

I don't think it will put you out of business.  I do consider myself on-line as I don't work in the brick and mortar type environment.  I think it is the service you offer and how you present it that will keep you going.

Good post.  Really causes you to stop and think.

I'll have to go back to read to read it again to see what else I can take from it.

Thanks for the great post. It is all about value for the client. YOU GET WHAT YOU PAY FOR

Cyndee...Great Post!  Good reason to keep in contact with your data base on a regular basis.  When you provide great service you become the person they will reffer to their friends and family. 

Cyndee said: Most potential clients don't realize the integrated complexities of a real estate transaction. The fact that over 48 people from 7 industries will be involved - means problems happen - you NEED an experienced pro at the helm."

 That sums it up about as well as anything I can think of. I know a fellow trying to sell an old home without an agent, without any inspection to tell him what might be wrong. I do not believe he has had one looker in a month since he put his sign out. By the way, I believe that real estate is a "hands-on" press the flesh enough business that agents who stay in touch with the times (like being visible at AR) will do fine and prosper. On thing they need to do, over and over, in a board such as this, is to point out why they are essential. Buying a house is not like buying a plane ticket! Cyndee, it is cool that you took my comments and turned the idea into a really worthwhile piece.

There are a lot of choices for consumers.  I agree that if all the choices look the same, then it's just a matter of price.  It is important to not only not (I know double negative) look the same but not not be the same.  Exceptional service must be there and it must be advertised or they will not be awaer of it.

check out my last posts about this same phenomenon...

sniff sniff

Theresa - I'm not so much talking about where you work - I'm not in the "office" much - I'm talking about the service and value you give your clients - I have no doubt you'll be in business :-)

You would agree selling a home is more than putting a sign in the front yard is it not? 

Steven Shewell - thanks for your kind words

Steven Smith - thanks for the inspiration! :-) and the return visit, hope you'll visit again!

Jeff- thanks for visiting and your kind words, all ways appreciated here

Kim- thanks for stopping by - I know you give  your clients great mortgage service and value. Your comments  always appreciated.

Judi - I agree - and sometimes we're our own worst enemy not explaining ALL that we do! Especially now that in this market there are more choices than ever.

David - thanks for visiting my mortgage friend. I'll have to check it out. 

Cheer up everyone!  Active Rainers are all a long way from going out of business.  There is zero correlation between buying a $423 airline ticket and a $330,000 home.  The services we provide online are much more detailed than what flight, what airline, what arrival/departure dates, and what seat.

As far as the jeans go, they speak for themselves by the services we provide!

Thanks Cyndee for your great blog!

Rob

Cyndee,

Thank you for this great post.  Good example that people will do business with who they know and who they trust.  Getting to this point with your customers is sometimes hard when competing with low price cutters.  Cheers,

Mario

Thanks for yet another great post Mrs. Haydon :-)  Great food for thougth.  I hope all is well in your part of the woods.

Lawrence - I agree we know it's not airline tickets.

But just look whats happended to stock brokers - how many people use online stock brokerages - they say they don't need any advice, they just want to buy and sell - oooooooh that sounds familiar!

The real question is could they BENEFIT from the advice and services and would they choose it if they knew it.   Now many opt out without knowing their options....something to consider. I'm not too vain to think it can't happen to us - I believe the "best defense is a good offense"

Thanks for the cool picture - hope to see you back soon.  

Mario - thank you for visiting "neighbor" - I'd love to find a time to meet in person - I need a good realtor for spanish only speaking people. Appreciate the kind words, hope to see you back again soon.  

George: Thanks for checking in my friend - I am working on another project (wink wink) to be done soon!! Have a good and profitable day!!! 

Cyndee

A post with a lot of depth.  In our office we've been focusing on this guiding principle:

Get To The Truth

No matter what it is, our job is to find out the truth from our clients, then facilitate their accomplishment of their goal. Our ability to relate to people in a way that allows us to find out what they want to accomplish and how we can help them do that is the key to our success.

Good luck!

Keith

Keith - I like that "Get to the Truth" - I'm curious do you focus on doing the same - Giving them the TRUTH? (it's not easy these days :-) thanks for your kind words - comments and subscriptions always valued here! Hope you come back soon. 

All these new online businesses are just that:  new, unproven.  As you state, the buying and selling of real estate is complex and like anthing else when there is a lot of money at risk, there can be unscrupulous people involved, as well as a lot of liability.  It will be interesting to see what happens to these companies once the mistakes are inevitably made and law suits are inevitably filed.  I am here for the long haul, but I doubt they will be.  They simply don't care like us human beings do.  They are not going to see these people in the grocery store or at the kids' graduations.  They are faceless, and you will probably never even get in contact with the same faceless person more than once.

Cyndee-Based on your post, I dont think you and your husband have anything to worry about.  You certainly sound like the "honest brokers".  To date, I have had ZERO clients that ended up going with online mortgage companies (thank God).  Those online mortgage companies that are specifically out to quote one thing and then come up with something completely different at closing are the ones who need to be caught and dealt with.  They give online business a bad name.  I also dont think that they ever worry about a face to face with their clients.  Do the online mortgage companies send a representative to closing???? I have never done one so I am curious.

I've had buyers who came to me already approved by an on line lender.  Not a problem.  Once the lender finds that an experienced agent is involved, they shape up. 

We veriify everything they have told the buyer through a review of the GFE, etc.  The things to watch out for are the final review just before settlement when the lender charges are finally plugged in. 

Most buyers don't know what to expect.  We just guide them through. 

To sum it up, we get paid for what we know, not for what we do.  Deep knowledge is necessary...we translate the information that is so abundant.  Just because one has information doesn't mean one knows how it is relevant to a real estate transaction.

kk 

Kelley - thanks for your thoughts - I agree real estate is "local" and about "relationships" - sounds like you've got that covered!

David & Tonya - thanks for the visit - I don't know  the answer either since my clients also haven't ended up closing with any of them either. Maybe Lenn knows - how do they handle closing? I can't imagine they'd have anyone there. Hope to see you here again.

Lenn - you are so wise!!! I do agree we FLUSH out alot of potential junk by being right on top of things and asking lots of questions for our buyers. I hope you'll stop by again soon.  

Cyndee

We have two ears and one mouth, so we should use them in proportion - listen twice as much as we talk.  Body langage and tonality, particularly the eyes, say more than the words.  So when I say Get To The Truth, that means that we, as the trained professional, need to ask the right questions to help the people that we meet feel safe in providing us with truthful answers.

The problem is that most agents talk more than they listen, and when the client is responding, the agents are not paying attention.  Once we truly know our client's sitation, THEN we can start figuriing out what tools in our tool box are applicable.

Remember that when we are dialoguing with our clients, they are also processing the information that we share, and are refining their goals accordingly.  So if the potential home buyer says "Gee, I think I'll wait to see if home values drop", our job is to probe, find out the truth:

"So, how much would the price of a home have to drop for you to feel comfortable buying it?"

"five percent"

"So if we could find a home that met your needs, and buy it five percent under the listed price, would you feel more comfortable?"

"maybe, probably"

"What wouldthe drawback be if why you were waiting for home prices to drop, they started going up and you had 'missed the market'?"

"Oh, I'd hate to have that happen"

"So if we could find a home and can negotiate a fair price, so you are protected, is there any reason we cannot get started?"

This is simple, you get the idea.  Fear of loss is a greater motivator than opportunity for gain.  Find our what your client wants, why it's important to them, and the drawbacks if they cannot achieve their goal"  Once our clients think that we understand what is important to them, and why it's important, then they trust us.  If we don't establish trust by understanding the truth, then it doesn't matter what truth we convey to them.

Keith

KK - thanks for stopping by on your "special day"  - always enjoy your real estate insights from Denver, Colorado!

Keith - thank you for your follow up post - I couldn't agree with you more! Well said!

Cyndee - Nice post! I really enjoyed the content. I work very hard to stand out in our area in a good way. Relationship is the key.

Customers are to concerned with the short term savings over long term liabilities. 

Even when we educate them, ads and the market have trained them to focus on that.   Who do you get them to focus on value?

Service and education are the keys to maintaining our business. Thanks for thoughtful post.

I think our business will change somewhat.  I think there will be many types of real estate work in the future and consumers will choose which is best for them. 

Experienced Realtors will always find work, but we need to be flexible.  We may end up doing consulting work more than marketing in the future.  

Since every deal is different it is not the same as just buying your ticket on-,ine. 

Thank you so much! This is a wealth of information!

I love the blue jeans analogy. Excellent post!

Stellar post!

Lizette - Thanks for stopping by - I agree we've had some really thoughtful comments - I always enjoy learning from my peers! Hope to see you back soon! 

Ethan - it sounds like you've been experiencing some of this already! Thanks for weighing in.

How many people would agree that the post office has been hurt by the internet?  When is the last time you mailed anything from your home?  With online checking and banking and payments, we receive mail.  But we rarely ever send anything out through mail. 

At work I still use mail for advertising but mostly post cards.

Marty - I agree, it's easy to dismiss it as a "travel agency" phenomeon but I think about Stock Brokers  used to be they were paid ALOT of money and many still are, however, with the advent of Etrade and others - many consumers decided to do "the trades" themselves for a lower fixed price.

Why?  I think some believed:

• The Stock Broker was working in their own best interest - not theirs;
• They believe that what they want to do is so easy they can do it themselves;
• They didn't believe they were getting any real value from having a Broker;
• They don't want to be judged when they tell you what they want to do;

  Do you see any similarities between the Stock Brokers and Realtors/Mortgage professional? 

Amanda - thanks for making me your "first" comment :-) Hope to see you back soon!

Lisa - thank you for the kind words! Stop in again!

Chris - that's high praise coming from someone I respect as much as you - thanks for stopping by. Hope to see you back soon!

Hello - Post Office Hurting - now that's another business that's changed with "email" - great point!

Yes, I believe the real estate industry will be transformed over the next few years very similar to the way Stock Brokers have changed.  There will still be some real professionals that continue to operate they way they have in the past because they brought real value for their customers.

Others will find niches where they can do well on fixed fee menu type transactions and still others will become real estate consultants working only on problem deals that the FSBOs need help with.

Still plenty of opportunities, but different ones.   We need to be flexible

Cyndee, This is an excellent well thought out post. I have always said our value is in what we bring to the transaction not so much in what we do. It is our knowledge and out ability to use this knowledge to guide our customer/clients and keep them focused on their goal. That is something they cannot get from the Internet and it's why my services are valuable.  

Well done Cyndee.

I agree if you are just another commodity, you must compete with price!  I can tell you from experience, the best price will always lack customer service and integrity.

I used to work for a price chopper - discount mortgage - 'best rate' type shop... and I can tell you this is one of the MAJOR reasons I left!  Especially when times get busy, the service gets even worse!  These discount 'giants' are SO consumed by the BEST RATE / PRICE / COMMISSION, that all of their focus is on just that.

Like me, I know Cyndee and Leah pride themselves on providing an outstanding service, anything less is un-acceptable!  Experience and statistics also show that the difference you get, is well worth the slight difference in the end. 

It all depends on what your time is worth you to.  Could I repair my car myself, or fix a plumbing leak, YEAH... but For me it just wouldn't pay to have to chase all of the little details (100's of them), let the pro's handle it, my time is best suited for my profession.

It just makes you work harder and smarter.

Broker Bryant - I'm blushing - that is high praise from someone I'm learning from daily - thank you for taking the time to read it and comment - both are much appreciated

Katrina - How well said! Thank you for taking the time to give such great analogies - oh yeah, I'm not fixing my car or repairing my plumbing. Thanks for the kind words too! It's great to work with quality professionals like you!   

Doug - Thanks for weighing in - I'm not sure I agree with working harder, at least for me,I think I have to be wiser and smarter and check my assumptions at the door! 

 We can't assume clients "know" what we do or what we know - we must always be subtly and not so subtly, as the opportunities arise be explaining what we do, how we do it and why working with us is the best option to choose - because lets not kid ourselves they're choosing. (Will I do FSBO, use another realtor, do nothing or choose to work with Cyndee & Jack?) 

Cyndee,  It always amazes me how little most people know about buying or selling a home.  There are really smart, internet savvy people who at first kind of intimidate me.  At first they might come across as knowing more than me.  But after a few simple questions, I realize just how little that they actually know about the process.  I guess the challenge is finding ways for them to discover how little they know as quickly as possible.