"If ever there's a field ripe to be made obsolete by technology, it's real-estate brokerage. There is no objective reason for real-estate agents to exist these days. Buyers and sellers can easily find one another online, and thanks to the endless data capabilities of the Internet, anything you need to know is readily available. From the comfort of your easy chair, you can take a video tour of a home, use Google maps to walk around its neighborhood, check crime statistics for the area, find out what the house next door sold for, etc. At this point, the most useful skill an agent brings to the table is knowing how to open the little lockbox where the key to an available home is secured. Yes, it's an important task - then again, so was operating a telephone switchboard. When was the last time you talked to a phone operator?"
Quote from G.D.Gearino from the October 2009 issue of BUSINESS North Carolina magazine "The realities of realty" For his complete insight, I suggest you read the entire article.
That is the perspective of a consumer of Realtor services. He is also an influential author/commentator in a prominent, well respected business magazine designed especially to inform citizens and fellow business folks of North Carolina about what is happening in the business world in all regions of the state of North Carolina.
After being in the real estate business full time as my career since 1984, I am sorry to say, unfortunately, his comments are becoming all too common, and if we don't change our ways, I AGREE WITH Mr. Gearino. It may already be too late!
Allowing, and, in fact, encouraging buyers (really not yet clients, but "prospects") to drive-by properties requires no skill at all. We're not needed or respected for this. Most listings can be discovered by Internet searches, with directions included. This empowers them to feel as if they can do this entire process on their own.
By not fully establishing our business relationship by confirming the role between the buyer/seller and us, as their representative, we show the public there is no real reason to be loyal. Without written agency agreements, we are not needed. They do not see us playing a role in their future. Too many to choose from and the turnover may eliminate us anyway.
Real estate sales is a serious business which requires special skills and demands more than part-time participation. Moonlighting is not well respected among our peers or the consumers that might use our services.
Neglecting to ask detailed questions leads to misunderstanding and, many times, leads to a great waste of time by missing important information that the buyers and sellers find important. It is not wise to learn everything on the fly.
Allowing the seller to set the price without in-depth market analysis and purposeful guidance builds mistrust and gives them the freedom to move on to the next agent at renewal time.
Only about 13 percent of all properties listed are also sold by the same listing agent. Not informing the seller of that fact, by explaining how buyers are brought to the table by openly distributing the listing information, leaves the seller feeling neglected by the listing agent because they are not the ones bringing by the buyers/prospects.
Feedback may seem to be a waste of time to many agents, but to the clients, it means a great deal, even if there is NOTHING to report. Too many agents feel the clients don't need to hear from them. Many agents are too fearful of contacting the client, if they have negative feedback or none at all. No feedback builds angst and doubt with many clients.
We gain nothing by telling our clients what we think they "want" to hear and avoid uncomfortable discussions! We can only produce professionalism by telling them pertinent facts and giving them information they need to know, even if it is distressing, to bring about the results they deserve.
Too many of us give the impression to the sellers and buyers that we are mostly interested in COMMISSIONS, not giving great, skillful service. Too many sellers and buyers believe we do not truly have their best interests placed FIRST.
Very few of us are UNIQUE in our advertising programs. Anybody can do a EFlyer or Postlets brochure without flair. The consumers have learned that it only requires minor typing skills and a "fill-in-the-blanks" aptitude to put something on-line. They want more from us.
Allowing drive-bys, not returning phone calls immediately, not providing feedback (of any nature), not being creative with our advertising, not doing in-depth market research before taking a listing, not insisting that you are the professional and requiring our client to follow our guidance, being too arrogant to recognize the needs of our clients, all will result in our obsolescence. There's more, you just have to recall some of your personal experiences with fellow agents.
There is a reason the consumers are writing negative stories about us and turn-over is so high in our business. Give it some thought. Maybe you will be one of those that makes a difference.
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Don,
Your comments should be a wake up call for agents to get to the office, head for the coffee pot, read the paper and talk to others waiting for walk-ins or a query call. It's all about service that includes listening and communicating.