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CONSUMERS HAVE CHANGED..... Chapter 3. (re-blog)

Reblogger
Real Estate Agent with RE/MAX Solutions- OZARK MISSOURI

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

Original content by Lenn Harley 303829;0225082372

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 Real estate agentthe 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.

Comments (6)

c m
Colorado Springs, CO

I commented, thought better for it, deleted it, and sent it to you privately...let me know what you think...this topic seems to have brought out some strong opinions! 

Jan 20, 2009 06:26 PM
Cheryl Willis
RE/MAX Solutions- OZARK MISSOURI - Mount Vernon, MO
MO Broker - Mt Vernon, Monett, Aurora, Barry & Law

Marantino- I did read your personal comment and have no problem with it- I think you need to remember that Lenn is going to get a lot of attention when she writes and whether one agrees or disagrees there is always room to see a bigger picture.  I will try get back over to her post and get caught up on where that discussion is going. 

I work with a variety of 'types' of buyers and sellers.  My favorites are the out of state people that I can show off our lovely part of the country.  I like being one of the first to do the meet and greet.  To me it comes down to meeting people needs, you can't possibally do that for everyone but you can do your best with the ones that are upfront and willing ready and able.

thanks for sharing with me.  cw

Jan 21, 2009 01:12 AM
c m
Colorado Springs, CO

Trusting Cheryl W.'s judgement, I have revealed my "Private Comment" that I sent her via e-mail

I went back and read the other posts, to see what all of this was about. I have to say as a consumer, and not a Realtor, that some of the content and comments were a bit.....hhmmmm condescending? Some Realtors question why they get stereotyped and I think they might find the answer in their own "shop talk". Consider the medical profession. Everything was kept secret, patients knew little about their own health and blindly trusted what the Dr. said. Times changed, people took control of their own health care. Sure, they still need professional help, but they now require respect of their caregiver or they move on. This could be applied to the Real Estate profession. When consumers got the "right" to see pictures, and get more information on the internet, some Realtors felt they lost "control" of their industry. In fact, they began to "share control" with consumers. Real Estate offices used to be intimidating, guarding their MLS books. Now, consumers often let Realtors know what they want to see. All of that said, I totally agree, that with more transparency for consumers, they should be prepared to be transparent about finances when requesting to see a property. Times have changed for Realtors, as well as for consumers. My hubs uses a pendulum to describe change. He says whenever change happens the pendulum usually swings too far to the opposite side, and then settles in the middle. Sorry for the "rant" on your re-blog, Cheryl, but I agree with your initial statement about risks taken by working with the public in a service industry.

Jan 21, 2009 01:32 AM
Cheryl Willis
RE/MAX Solutions- OZARK MISSOURI - Mount Vernon, MO
MO Broker - Mt Vernon, Monett, Aurora, Barry & Law

CM- I had a couple of things on my mind to comment on.  One, I still haven't gotten over to Lenn post to see the drama unfold.  Two- it comes down to either meeting people needs or not.  When I go to the store to buy a loaf of bread, I don't stop to consider if the bakery truck was on time or if the plant mananger lost a family member, or if the stock boy is out sick, or the cashier ....etc.......  I am not there to consider all the players that it takes to get that loaf on the shelf so I can throw it in my cart and get on with my purchases.

When a customer calls me to ask for a price on a listing I have-  all they want is the price- it will always be to high and they didn't really want that property anyway. (just kidding)   In my mind if I spend 10 minutes pre-qualifing them as to the "quality" of buyer they are before I "give" them the list price--then I am just being a jerk>  They didn't call me to discuss anything else besides price.  Now when one askes me the price, and I say XXXXXX.XX is this a home you are interested in getting a bit more info on?  And the answer is: "maybe or yes", then I ask about other stuff.  If the answer is NO- then I may ask if there is something else I can help with.

I have never had a customer or client that was not worth the time I spent with them.  Short story:  when I first got my lisc. I had a gal that loved to look at homes and every time something new came on the market she would call me to schedule to see it.  Another agent in my office- pulled me aside after a few of these trips and warned that "I was wasting my time".  For the record, the customer never bought a property from me.  I did sell at least three to other clients that I had previewed with her. (how cool is that, I got to 'practice")  She went on to get her lisc and is an agent that has brought buyers through on my listings.  Not once did I see her as a waste of time.

I work with people on a regular basis that call me out of the 'blue', I had one the other day that I had not spoken to in a couple of years, they are ready- they have done their homework, and they remember that I didn't try to sell them any thing, I worked to help them make an informed decision.

sorry this is getting long- I should have made a post but not in the mood.  be good  cw

Jan 21, 2009 04:07 AM
c m
Colorado Springs, CO

Cheryl W, You are exactly as I thought you would be, and thats a GOOD thing!  Maybe because your name is Cheryl =o) or maybe because I have lived in small towns for so many years, (only recently a city girl!), and that is the way most everyone does business in small towns.  Assuming the best of people, giving each other the benefit of doubt,  Your response that you were not being taken advantage of by the "shopper", is a perfect example.  I have certainly been guilty of not wanting to give out information when I "just wanted to know how much", in the past. I knew what I could afford, and didn't want to waste anyones time or gas.  Someone else commented on the other site, that people give vague answers for a reason, ask why...no one ever did, they just kept pressing.  I moved on...YOU are the kind of agent we ALL want to deal with! 

Jan 21, 2009 04:40 AM
Cheryl Willis
RE/MAX Solutions- OZARK MISSOURI - Mount Vernon, MO
MO Broker - Mt Vernon, Monett, Aurora, Barry & Law

thanks, I am humbled.  cw

Jan 21, 2009 04:58 AM