CONSUMERS HAVE CHANGED..... Chapter 3. (re-blog)
Thanks Lenn, for taking the time to share an informative 'rant'. OK it is not a rant, more of a FYI to the reality of working with the 'Public'. IMHO the risk one takes working in a service industry has as much to do with the individuals values as it does with the consumers goals. This well written post can cross all peer groups. I expect to see this taken to heart by a lot of us in the industry. Enjoy: cw
The comments to the Chapter 1 and 2 of this series have generated more topics of interest. The comment below from Carol Culkin was, for me, inspirational and an affirmation that we, the real estate practitioners must control the real estate transaction from search to settlement.
Carol wrote: "Lenn - Bottom line, buyers still need agents. And, I for one refuse to play along with the hard to get buyer. I would love to be able to convert everybody but not everybody wants to be converted. I guess I feel fortunate enough to still come across motivated people these days and I don't need to waste my time on those who want to go it alone."
SO MANY THOUGHT PROVOKING COMMENTS:
"buyers still need agents". Absolutely. Buyers still need agents. Even with a plethora of information on the Interent and from everyone at their work place who has every purchased a home or knows someone who has, buyers still need agents. Once the consumer gets past looking at the pictures of homes on the Internet, they are ready to begin their search in earnest and need an agent.
"I for one refuse to play along with the hard to get buyer" Hear, hear!! The details in the IDX listings includes photos, often multiple photos, descriptions, often room sizes, lot size, area map, appliances, and remarks with more information. It's time to tour the homes selected by the consumer. It's past time to seek more and more information.
"I would love to be able to convert everybody but not everybody wants to be converted." Converted from what to what? Converted from a "lead" to a customer or client, perhaps?? Leads are what agents buy from lead generating companies. My web sites do not produce leads. Folks who contact me are serious home buyers and we're serious real estate agents ready to help.
"I feel fortunate enough to still come across motivated people" Indeed. My web sites describe our services, offer additional information about the area, financing and an IDX site showing all active listings. Once the consumer contacts me, they are ready to tour homes for sale and we're ready to help the find the home to buy.
"I don't need to waste my time on those who want to go it alone." Absolutely! If the consumer who contacts me needs to be "sold" on our services, they called the wrong person. Unless the caller has decades of licensed real estate practice, they are a consumer of real estate brokerage services and I am the expert. A consumer who wants to "go it alone" will be encouraged to do just that.
FOCUS ON CONSUMERS WHO ARE FORTHCOMING WITH INFORMATION ABOUT THEMSELVES. I don't expect the average consumer to provide detailed financial information about themselves right out of the box when they call. However, if they call to tour specific homes they have selected from the IDX web site, it is reasonable that we ask about their qualifying price range.
If a caller wishes an agent to arrange a tour of homes in the $400,000 price range, the agent has a duty to determine that the buyer is qualified for that price range. How do you find out?? ASK THEM.
"We'll be glad to arrange a tour of these homes for you. Have you spoken with a lender yet to determine your price range??
If the answer is yes, we arrange a wonderful tour of homes. You know that the buyer has been qualified and is ready to look at homes for sale.
If the answer is "NO", the next question is: "I'll do the numbers for you to make sure you're in the right price range." I have NEVER had a caller refuse to provide their annual income. If someone did refuse, I would simply say,
"I'm so sorry, I can't arrange a tour of homes for you unless I'm sure you are qualified for that price range."
"Contact me when you're ready to work with us, but we have to have financial information to make sure we're looking in the right price range."
"If the buyer isn't ready, SAVE YOUR TIME for a home buyer who will work WITH YOU."
FACT: A home buyer who refuses to provide information about themselves is like a home seller who refuses to give the address of the home they wish to sell. You just cannot help them.
FACT: The volumes of real estate information, advice articles, mortgage information, home listings, etc. on the Internet has given the home buying consumer a feeling of empowerment.
FACT: The average home buying consumer is likely to begin their home search on the Internet.
FACT: Home buyers with a feeling of empowerment may believe that they can control the home buying process and seek agents who will let them.
FACT: Agents who relinquish control to a consumer are not serving either the consumer or themselves well. Agents must always keep the fact that "we are the experts", in mind when a consumer contact them for information or services.
LENN HAD AN EPIPHANY! CONSUMERS HAVE CHANGED A LOT MORE THAN REAL ESTATE COMPANIES, Chapter 1.
CONSUMERS HAVE CHANGED A LOT MORE THAN REAL ESTATE COMPANIES, Chapter 2.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988, E-Mail.
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