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Over the last few weeks my local Realtor® association has bombarded me with emails reminding me it's time to apply for the 2011 Awards and Recognition. Thank you but I'll pass. It's not because I haven't qualified for the Top Residential Producer Award from the Northern Virginia Association of Realtors® (NVAR) but because I don't think the phrase means anything to the average consumer when they see it on a business card.
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38 Comments on Multi-Million Dollar Producer Title-What Does It Mean To A Seller?
Cindy, I didn't know PWAR has lower bench mark than NVAR. I look at this bit differently, for consumer it may be nothing but for a Realtor that is a mile stone accomplishment. I do apply and I am proud to be part of the club.
Great post Cindy. I agree with Bryant - sellers need to know how many homes they sold and just how effective they are.
Cindy, I agree that the professionalism of an agent is what counts not their "status" In our area the multi million dollar sales person may mean they sold one home. Now thats crazy. I would want to know the agents sales volumn. It can be very misleading to someone who doesn't know.
Congratulations on the feature Cindy, I love your blog... One can have all the titles in the world but if the agent does not answer their phone, return messages then the title means nothing to that client who is not getting the service they deserve.
Cindy, I think consumers take the opposite approach and think you make that much money. Every agent seems to be number one in their area.
I would say that the general public will not understand the real meaning of mult million dollar producer", and in fact in this day and age of "Million Dollar Listing" television shows, it may get inadvertently associated with the excess and nonsense that these shows portray. In other words, some people already think that real estate agents make too much money, and this will only perpetuate the myth.
Just like designations with litlte letters by your name that consumers don't know what they mean either??!! I don't think they care!
Cindy, great post. I think sometimes the names can work for you & sometimes against you. It depends. I am in Palm Beach County Florida and it certainly help to establish creditability.
I've always hated all these labels. I think they're counter-productive because suspect fear they'll be putty in your hands, unable to exercise any control over their own real estate transaction. There'fore, I have not used any of these labels and I don't use any professional designations for the same reason. It's all about "know, like, and trust for consumers. PERIOD.
I had to chuckle to myself the first time I realized that a "million dollar producer" would make somewhere around $30K. After advertising, gas, taxes, broker splits, etc, they could have made more at McDonalds working part time.
Cindy:
Most people don't know what those awards mean and they don't care. They want a Realtor who will help them sell or buy a property, they want someone they can trust and they want someone who knows what they are doing.
I agree with you, Cindy. It is not about the hype. It is about the knowledge, integrity and sills of a given Realtor.
I've always gotten a good chuckle from the asscociation awards, lol.
Marti-thanks for your insight. The only think our clients want is for us to successful help them.
Thanks Jill-I realize some people are addicted to awards but as long as we do what we were hired for our clients will be satisfied.
Linda-no they do not. Sometimes I don't even know what they are.
Shelia-it chaps my hide too! Having to pay an additional fee to my association to be able to say "top producer" on top of the dues I already pay is ridiculas.
Richard-when the values change from association to association and I'm sure across the country it dilutes the value even further.
Jerry-I heard someone refer to the same situation and then we wonder why consumers consider that we are "overpaid".
Eric-and of course in most areas the award criteria has changed over the years as well. Making it even more suspect.
Mark-very well said. Have a great week.
Debbie-the value of saying it has been diluted by anyone who claims they are #1. It could be for their neighborhood, their block or what?
Phil-absolutely. I'm not bringing home 7 figures.
Bryan-in my association some of the longevity awards come from being consistent for a period of years in production levels. Once you get the award you can put it on your business card forever whether you are still producing or not.
Cheryl-and that's only two associations. Who knows what it might be for the Dulles Association or the Fredericksburg one. Many agents sell across all the boundaries so I guess you could pick the lowest common denominator to join to win an award.
Lorraine & Loretta-true in some of our local areas as well.
Bryant-for your area it is very different than ours. There are teams here that easily sell over 50 homes. They did a few years ago change the team and individual criteria making it a bit more balanced.
Jared-our clients only care about the service we provide to them not to the masses.
Joan-Congratulations on your success.
Marc-in my area as you can imagine there are neighborhoods if you sold 1 house you'd be eligible for an award.
Ritu-Congratulations. It is a worthwhile achievement but don't think it means anything on a business card to a consumer.
Kim-when I'm interviewed for a listing I bring a list of my sale from the previous year. It's current and shows my skills in today's tough market.
Michael-I agree. Multi-million dollar producer sounds as if that's take home pay.
Bill-we have enough trouble making sure our industry is seen in a positive light and some of the TV shows aren't helping.
Kristin-there are so many designations that are offered by one off companies that it dilutes the designations approved by NAR.
Shelda-I had to go look up the designations you have after your name to see what most of them meant.
Margaret-the only professional designation I use to any degree (and it's not on my business card) is CRS.
Jeanne-that's true and sad at the same time.
Evelyn-I think you used the best word "trust"
Sharon-the hype around multi-million dollar producer had be excited my first year in real estate. Then I realized it didn't mean anything to my clients.
Justin-what are the criteria for DAAR awards?
Fernando-that's why we can always cut our commission. We make to much already...HA!
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