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Don't Hate Us Because We Specialize!

For those of you who don't know, Naples Florida is widely considered a luxury location and although not every area is expensive, some Naples golf communities and most Naples beach communities are expensive and considered luxurious locations. Although Naples proper isn't considered massive in size, Collier County is quite large and for one to consider themselves an expert for the entire county is simply unrealistic and here's why:

There are currently:

8,992 active listings in Collier County
976 active with contingency contracts in Collier County
840 pending properties in Collier County
61,386 closings in Collier County (provided in MLS)
22,486 terminated listings in Collier County
50,416 expired listings in Collier County
724 withdrawn listings in Collier County

Being a specialist means knowing your trade! That means the agent is familiar with much of the inventory and possess a great working knowledge of current property values, negotiating trends and maybe even have a solid network of other Realtors or vendors who are also familiar with the area as well and who can help assist with details and/or negotiations on contracts.

How valuable is the agent who specializes nowhere but goes where ever the buyer and or seller may take them? Not much...that's why you'll find the most successful Realtors in Naples do not go everywhere. The most successful agents work just a handful of areas because they know those areas very well and can provide a real service to their buyers and sellers.

Typically you'll find Naples luxury Realtors do most of their business west of Tamiami Trail (that's the main corridor that lines the beach) although it isn't uncommon to find some experts who specialize in one neighborhood and that is ALL they service. There are also a handful of agents who have chosen specific Naples golf communities off the beach corridor as their area of specialization. It's a choice they make to insure they have the knowledge and expertise to be the best. Most buyers want to work with the best therefore there is a very strategic plan and sometimes expensive price to pay when agents determine a finite market and go after it while passing up on business in other locations.

This brings me to the interesting conversation I had with someone today about Realtors and consumer perception.

He was telling me a story about how he had a seller he needed to refer to one of his Realtor clients. He picked Realtor "B" because...I am less than 2 weeks away from having a baby and because Realtor "C" said, "she doesn't work that area"....as he rolls his eyes. I asked him if he knew why she said that because what he thought and what she was really saying were two different things. He told me he thought she must think "she's above" working that price range...

Here's what I said next. This isn't a matter of being "above" anything. Realtor "C" specializes in a completely different market and for her to accept business in a market she doesn't know means she needs to either learn it so she can be of SERVICE (which can take a good amount of time) or be an idiot and not provide a great service. She could've easily said, sure...and then performed a crappy job for his client.

Us Realtors see this EVERYDAY and believe it or not, some of us have made a conscious decision to be part of the solution!

Buyers do not want to work with agents who do not know what they're showing and do not know how to negotiate.

Sellers do not want to list their homes with agents who do not know how to sell it and do not have the network of people to help them do it.

So the next time you hear a Realtor say, "I'd love to help you out with that but I'm not the one for the job....

THANK THEM for having the business acumen to refer you to someone who really is a specialist for what you want.
THANK THEM for not being greedy by putting their visions of paychecks ahead of your best interests.
THANK THEM for being honest.

On the flip side of that the next time you ask an agent if they cover the whole State in which they have their license...their license may go that far but the intelligence doesn't. If you want to hire a Jack Of All Trades...well...You'll Get A Master At None!

Best Regards,

Your Naples Smart Girl!

Posted by Shannon Lefevre Naples, Florida CRS on 06/24/2009 07:17 PM

Comments (32)

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Originally posted at: Naples Florida Real Estate: Don't Hate Us Because We Specialize!

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32 Comments on Don't Hate Us Because We Specialize!

JUN

Ok your special I get it. But what I want to know is can you sell my house. HAHA I specialize in investment properties and I love it. They know what they want and they are realistic.

Thanks Smartie! I 'specialize' in Exclusive Buyer Agency -- LOVE IT!! I always refer out sellers, current/former clients that want me to list. I just don't . . . cute post!!

HA! Where is that house you need to sell? :)

That's awesome Carla! There's something really great about people who know what they want and go after it! I bet your buyers LOVE you!

GREAT points . . . and I LOVE your polka dots and basic black with pearls! :)

Hi Shannon! I am more than happy to give a referral to another agent that covers an area that I am not that familiar with. I get a lot of hits on my website and have given a lot of referrals to other agents this way.

Shannon, Nice job on your blog! I think it is GREAT that people specialize, it's the ones that SAY they specialize in something but DONT that piss me off! There are lenders on AR that claim to be specialists in USDA loans, but they send ME emails, asking me questions about them! There are Realtors on AR, that state the specialize in Short Sales, but are not certified, and dont have a clue on how to handle them....Condo's are the same way really! Today, Condo's are some of the single most DIFFICULT properties to finance because of all the new requirements, and unless your lender partner "specializes in them", or takes a SERIOUS interest in learning about them...you need to find another one! Well done, and a deserved feature!

Bucky...

Thanks Candice...your puppy is pretty cute too! :)

BILL, I do the same thing and by doing that, those buyers and sellers get what they want and it also helps me keep some really good agents in my network! :)

BUCKY, EXCELLENT POINTS and I'm so glad you made mention about the lender side of the world. It gives us Realtors really something to think about especially when you're like me and work primarily with cash buyers! :) You obviously know what you're talking about :)

I am with you on working in areas that you know. However, being an exclusive buyer's agent like Carla, I do cover a larger territory than some agents. I have to persuade buyers to let me refer them out when they want to look in area beyond my geographic range because they don't want to risk getting into a dual situation.

I know what you mean Joan...it's not always easy especially if you've built a relationship with someone who ventures out of your area of expertise. It's tough!

Some agents will chase any possibility of collecting a commission regardless how remote or unceratin the outcome. This will not change until we make this profession more difficult to enter as it is to succeed. Perhaps the notion of state controlled license testing should be replaced by an old fashion apprentice program. Maybe if the Department of Real Estate was more facused on practical proficiencies rather than collecting fees we could move beyond the order taker mentality.

Excellent point on this! I was just speaking with one our agents this afternoon about this issue. She specializes in a certain area and type of property, but has friends who want to sell their properties in areas she's not familiar with in our county. Luckily, we have agents within the company that service those locations. You are so right about referring out if you don't know the area! The consumer is better served in the long run. Put their interest ahead of yours and everyone wins.

Referrals are a great revenue stream...concentrate on where you want to be if that is what you want and refer the others and also ask for referrals back.

I specialize in homes priced between $150,000 and $300,000 in St Charles county. I know that market inside and out and know the lastest market trends.

Sure I can sell in other price ranges and areas but within my speciality range I excel. In other areas I have to do a lot more research to be able to properly service the buyers and sellers.

I can appreciate your position. There is one area that is my primary area and I let people know it. I have worked outside of that area. Ussually it is because the people trust me and I have a good working relationship with them- They want to work with ME! But it is not easy and I do not think it pays to market to wide.

Hi Shannon,

Your comments definitely work for US buyers, but I had a very interesting experience with honest referrals twice in the last 3 weeks. I had international clients from Russia and UK. They wanted to buy in Naples initially, however after a certain "wake up call" decided to settle on Lee county. I wanted to do the deals myself first, but then decided to follow my broker's advice and referred my clients to Lee realty. The result is the following: I got twice as many phone calls from my ex-clients commenting on those hapless Lee county agents. Then after certain home purchase and foreclosure problems phone calls to me quadrupled. I kept telling those clients that Lee county agents are consummate professionals and will do everything the best way possible. It didn't stop anything. The whole thing started looking like good cop, bad cop game. I went through the whole process playing "mother" for the clients and a broken phone for agents. Finally both of them bought homes and I got an invitation to go fishing. So go figure... By the way, I have a Russian client who wants to buy in Pelican Bay, want a referral?

JUN

Excellent, excellent.

We are in business. A shoe store that specializes in Running Shoes doesn't have to carry a line of Riding Boots just because someone in the neighborhood may wish to buy a pair.

I have to agree with my broker's comments above....I was thinking of the same example...brilliant minds think alike I guess...LOL

Sal, Sometimes referrals don't always go as smoothly as you wish too. That's why it's priceless to have a super group of professionals who you know you can depend on. I'd be happy to talk with you about your buyers in Pelican Bay. You're welcome to call me direct or email. I will be on appointment this morning til about 1:00pm EST or I am happy to contact you if you will provide your contact information.

For the rest of you who commented: Excellent points and thank you for your comments! Lenn, I absolutely LOVED your analogy. :) I need to get ready for my first appointment of the day or I'd address each of you. Please forgive and have a great day! :)

When you're doing what's in the best interest of the client...you are almost always doing the right thing. Great post!

I jsut emailed a lead yesterday as I didn't recognize the county in old listing was in and told him I couldn't help him. Then one of my team members said she lived close and would service the listing. So I looked again, called him up and told him that we could service the listing. We had a a great chat and if his tenant doesn't stay will be listing his home in July.

I would rather refer out than not be able to service a seller the way I do all my sellers.

I believe everyone has their strengths and to recognize them and use them in the best interest of the client. How can that be anything but a good thing? I agree work your strengths.

I specialize in WaterFront Property. Reason being is that I love the WaterFront, Love my fishing and boating too! Also have a good repore with the Marine Patrol. Many people don't know that if a property is Grandfathered in they may not get out of their canal. GO FIGURE THAT...OK, we know some things do need to be updated. But in this economy who knows when that will be!!! See you on the Water!

Again, goes to show how important communication is! The Naples market is definitely an interesting one. Thanks for a great and concise blog!

Shannon-This is right on and you are a smart girl. I specialize in Lake Front homes only in my area. In today's economy, there's not as high a demand as there was in the boom, but there are still people who want waterfront get aways. The economy has not changed the fact that there are 78 million Boomers who are planning on a place for future retirement. I have turned down listings for that reason. It's the most difficult when it's a referral, but I thank them and stick to my specialty. Great post!

You absulotely have to specialize!! If you don't you'll be going in a million different directions & won't be really good at anything!!

I agree. i don't like when agents from out of the area list properties here in themountains, because they don't know the properties or the types of disclosures and issues that we have. How can they do their best for the seller if they don't know the area? I wouldn't list a property in an area I didn't know either.

Very well said Shannon. You can't service the entire state but I know agents that try all the time. What you get are really bad attempts at being competent. I work the same way and I wish others did so in my area. I love it when an outside agent comes in and begins to tell you all about your 'home base' market. Just like on vacation I say 'your just a visitor babe'.

Shannon,

Excellent points. Urban areas are another place where agents often try and do too much. Anyone who says they specialize (and I've seen it right here on AR) in, let's say, Bethesda and Chevy Chase, MD as well as Northern Virginia might as well say they specialize in New York City and Los Angeles! Leaning and working a specific geographic area is no small task and rather than be embarrassed by a self imposed limitation we should use it as a calling card.

Michael

JUN

One specializes in order to niche market. Virtually all specializing agents can whistle lots of other tunes. Many "specialists" have multiple specialties with separate identities to attract those various publics.

The capacity of an individual agent to master different geographic markets, niche markets, types of properties varies enormously from individual to individual. Some are one trick agents others resemble Benjamin Franklin in breadth and command of knowledge.

It sounds neat but is not true that: One learns more and more about less and less until finally one knows everything about nothing OR one knows less and less about more and more until finally one knows nothing about everything. It is true that the more one squeezes inside that gray mass between ones ears the greater the capacity becomes.

SEP

On Sunday I had the weekly showing with a Realtor whose office is 1.5 hours away from the 12 houses (yes, 12!!!) she was showing.

Last Wednesday I had a buyers agent whose office is 2 hours away. She would not make it to the showing and would I mind scheduling and showing the rest of the houses her buyers were interested in... what!?

The good part is when an agent 100 miles away lists a property that is $100,000 under market in my area. Jack pot!

Or the out of town agent lists a home $300,000 too high so my listing looks like the steal of the century.

Thanks Shannon for your articles that are ALWAYS fantastic and on point!

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