Special offer

What's Your Value?

By
Industry Observer with Swanepoel T3 Group

What do we do to earn our keep? What do we do that is of value to our clients? What does it mean to work and succeed in the real estate business? These broad topics frame the debate on issues that quickly become battlegrounds amongst real estate professionals. Some of the most polarizing topics:

  • Time spent on lead generation vs. servicing the clients
  • 24/7 access vs. set business hours 
  • The phone numbers we publish or don't
  • Mega brokers vs. boutiques vs. one (wo)man shops
  • Teams vs. solo agents
  • Who "owns" the client: Agent, loan officer, home inspector, attorney?

I've thought about this quite a bit recently...what do we who work in real estate establish as our value? Since most of us will claim some form of "service to the client", the question then arises: when does "service" become "servile"?

Maybe it's the tough economy, but I see otherwise strong and capable professionals getting dragged into a servile relationships with demanding clients. An agent who is worried about losing a client can lose his self-esteem and personal integrity, one unpleasant interaction at a time. Too many servile relationships can eventually dimish a person's ability to perform good service.

As we engage in the debates online and around the water cooler, we really need to step back and ask "what is my value proposition?" I'm comfortable with how I define my value, which includes directing a team to meet the client's needs while I keep the pipeline full by marketing and selling. In this challenging economy, I think that a successful agent or broker should strive to run a flat and multi-functional team that does not require traditional reporting relationships. The team is created and managed -- sometimes one client at a time -- always with an eye to great client service and running a great business. 

Comments (79)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Hi Leslie,  I believe this is an imperative topic to teach new agents.  I remember finding myself, in earlier years, flying by the seat of my pants, of course having no value proposition until I realized that my time was worth more than I was allowing myself to be paid.  Oftentimes back then, I WASN'T paid for the services rendered!  LOL

Then, I "grew up" and realized that I owned a business and really needed to start acting as though I did!  Value propositioning definitely helps us realize that we are business owners and if we want to remain viable, we must follow that to a 't'.

Feb 22, 2011 04:32 PM
Jeanne Dufort
Coldwell Banker Lake Country - Madison, GA
Madison and Lake Oconee GA

My practice is very customer-focused, but... I am also very, very good at what I do.  So when I bump into a "know it all" - they will get a bit of effort and then get dropped like a hot potato if they don't come around.

I hire professionals for what they know.  I get hired for the same reason.

Feb 23, 2011 01:37 AM
Cindy Keil
Cindy Keil Coaching - Omaha, NE
CEO Cindy Keil Coaching

I always interview the clients I serve. If we don't connect, I don't work with them.

Thanks for sharing!

Feb 23, 2011 03:29 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Good post for reflection. I'm applying your comments to my work as a copywriter, and seeing that in a few instances, I have allowed service to become servile.

Thankfully, most of my clients are wonderful people and I don't need to think about such issues. But that's probably why I can get blindsided when I run into the one who is not.

Feb 23, 2011 06:18 AM
Simon Mills
Mills Realty - Toluca Lake, CA

Excellent post.  Setting boundaries early in the agent/client relationship is key.  If you offer value to your client they will appreciate your time.

Feb 23, 2011 06:30 AM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Good post - lots to think about - now answers.  I know I had one of those clients I thought would never buy and after showing him houses off and on for a couple years he bought one, his daughter bought one, he is looking to buy another one, and is other daughter now wants to buy one.

Feb 23, 2011 06:35 AM
Sylvie Stuart
Realty One Group Mountain Desert 928-600-2765 - Flagstaff, AZ
Home Buying, Home Selling and Investment - Flagsta

Great post! You do have to set boundaries with clients, especially the ones that are draining you and taking too much of your focus off your business and other clients. It's not worth it in the end. Bless and release!

Feb 23, 2011 06:43 AM
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

So true, sometimes I try to be accomadating at first, and listen to their ideas, but soon I need to focus on what I know actually works. I just had to stop working with a seller and a buyer because they both we're wasting huge amounts of time, and we're just way to annoying to work with. Life is too short to deal with know it all complainers.

Feb 23, 2011 07:18 AM
Brad Hornshaw
Brad Hornshaw Realtor Lynnwood, Bothell, Everett - Lynnwood, WA
Realtor, Listing Agent, Buyers Agent, Investments

Hi Leslie

I think if you set guidlines in a gentle but firm manner you would be suprised at how many will respect them and you.........Brad

Feb 23, 2011 08:13 AM
Anonymous
Bobby Dean

Hi! Leslie,

I feel when I sign on the dotted line to market a sellers property I obligated myself to get the word out their property is for sale. I use many different forms of media including network and cable TV, the internet, talk radio, and print to make that happen.  I schedule myself to attend meetings and functions to promote face time and build relationships. I never worry about a set schedule. I make appointments for personal time just like work time. If I am in the mode to be flexible I adjust as I go. Is all of this work? It is fun for me. I love it. Otherwise, I would find something else to do. Bobby Dean with Prudential Showcase Properties.

Feb 23, 2011 08:50 AM
#69
DeeDee Riley
Lyon Real Estate - El Dorado Hills CA - El Dorado Hills, CA
Realtor - El Dorado Hills & the Surrounding Areas

Leslie - I think it is a fine line between service and when it becomes servile. Especially in a customer service world where the "customer is always right" theory is prominent.  Being taken advantage though is where most of us can safely draw the line.  Thanks so much for your thought provoking post!

Feb 23, 2011 11:29 AM
Karen Steed
Tallapoosa, Bremen, Waco, Buchanan, Temple, Carrollton - Tallapoosa, GA
Associate Broker Haralson Realty
Great post. I am having a difficult time screening potential clients. I am currently locked in with some clients who are becoming more difficult every day. When to say when...
Feb 23, 2011 01:29 PM
MaryBeth Mills Muldowney
TradeWinds Realty Group LLC - Braintree, MA
Massachusetts Broker Owner

how true, we really need to look inside to see our value and be able to communicate it to others.

Feb 23, 2011 01:41 PM
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Great post!  We definitely need to be careful not to get dragged down if we are in this for the long run.

Feb 23, 2011 04:59 PM
Dennis Neal
RE/MAX, Big Bear - Big Bear Lake, CA
Your Home Sold in 21 Days or We Sell It For Free

Thanks for a great post packed with insight.

Feb 24, 2011 06:23 AM
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

Excellent post!  I would have to say this will happen to every agent every so often if not more

Feb 25, 2011 12:17 AM
Mike Schneider
10 YRS with Active Rain ! - Lake in the Hills, IL
ABR, CDPE, SFR

Thanks, Leslie. Important issue and a good wake up call. We all experience it and its so healthy to share. Just about all has been said in this forum...so important. continued success, Mike

Feb 25, 2011 10:47 PM
Elisa Uribe Realtor #01427070
Golden Gate Sotheby's International - Berkeley, CA
Opening the Doors to California Homes -East Bay

So true. It's important to know what service means to each client until you get feedback from working with them too.

 

As an example, if you think just because you answer your phone right away and at all hours of the day and night, you are servicing your client, you may find out that's not even important to them yet now you're resentful for having done it if issues arise in other areas.

Real estate can be a wonderful job and many clients become clients for life, or even friends. Just remember to nurture yourself so you can service your clients:)

Mar 28, 2011 05:55 AM
Jean-Paul Peron
The Outer Banks Real Estate Copmpany - Corolla, NC
Carova Beach - Living & Working in 4-Wheel Drive

It is certainly a fine line we walk sometimes between integrity and service.

Mar 31, 2011 03:23 AM
Leslie Ebersole
Swanepoel T3 Group - Saint Charles, IL
I help brokers build businesses they love.

Jean-Paul: I lie awake at night thinking about it...complicated

Elisa: you're so right!

Mike: I write to myself as much as to others ;-)

Bob: the ups and downs, for sure

Dennis and Teri: thanks

Brenda and Ron: setting boundaries is key

MaryBeth: yes, communicating is essential

Karen: I know, it's tough

DeeDee: thanks for commenting

Bobby: of course !

Mar 31, 2011 07:39 AM