Trulia Real Estate Questions: (part 2) Is This the New Floor Call.... NO!

This blog post is addressed to both real estate professionals, and real estate consumers. I hope it answers questions, brings enlightenment, and causes everyone to really think about the direction the real estate industry is taking, and how our current actions are directing that future.

Yesterday I blogged about the huge difference in the types of questions being asked on Trulia now, as opposed to those that were asked in the past, and I included examples in that post. To be honest, I'm suspicious of these new questions, although I have given some partial answers. But as REALTORS®, I believe we eventually develop a 6th sense, so to speak, that can raise our suspicions in certain instances. I believe this is one of those instances. In this yesterdays' blog post, I referenced a Members Only post by Richard Weisser titled "How Is It that Buyers Still Do No Understand Agency?". (You'll need to register for a free Active Rain account in order to view that post.)

Upon showing examples of the differences in the recent Trulia questions vs the Trulia questions of the recent past, the following thought occurred to me. "Is this now the equivalent of floor time?" If so, I suppose it has possibilities, but there are some major problems with this theory (even if it was my own thought). First, bear in mind how the real estate industry is structured, and the way REALTORS® get paid. Then compare "floor calls" with "questions on message boards, that contain no information about the person who left the question...

• When a real estate buyer calls a real estate brokerage to obtain information on a property, REALTORS® have the oppportunity to pre-qualify them (a service that is usually promised to the real estate sellers who list their properties with us) while providing the property information. This benefits both real estate buyers and sellers alike. It's going the extra mile in providing information and services that are necessary to most real estate transactions.
  

• When a potential real estate buyer calls a real estate brokerage to obtain information on a property; in order for REALTORS® to provide the most helpful information to the buyer, they frequently will also e-mail additional MLS information and/or properties that the buyer may need. The correct MLS data for these listings can ONLY be found in the originating MLS; not on the IDX systems that provide certain MLS data to the public. A REALTOR® is the only way for a real estate buyer to obtain full and accurate listing information. (Although a new system by the National Association of REALTORS is currently being designed) I feel it is necessary to make this crystal clear to the general public.
  
  • The actual MLS (Multiple Listing Service) that REALTORS® use is NOT what the general public is finding on the internet! Currently, the MLS data that is available for public viewing is limited to whatever IDX data was chosen by a particular web site;... whatever data that site deemed as the most important pieces of data to be placed in their real estate searches. In other words, each publicly accessible site provides whatever information the site owner(s) has decided to provide. This is why there are so many errors on the public sites, whereas a REALTOR® has direct access to the full, accurate, current MLS listing data, which we will gladly provide to our customers. But bear in mind that the "listing agents" of the properties that are in each MLS system, are held accountable by the seller of those properties, to make sure the MLS data on their properties is completely accurate. This is why each "authentic" MLS is the most accurate source of information.

• When a REALTOR® receives a "floor call", as the conversation progresses, the REALTOR® is able to find out if there's other pertinent information which that particular buyer or seller may need, which may not be uncovered through random questions on an internet message board. (Again, it's all about what's best FOR the customer!) There may be previously unforeseen problems that a REALTOR® is specially trained and equipped to detect and handle when conversing with a customer. These potential pitfalls cannot be detected when a REALTOR® places a short response to a question on a message board. There needs to be a conversation between REALTOR® and consumer, in the EARLY stages of a real estate buyer or sellers' search for information.
  

• As a REALTOR® talks to a real estate buyer or seller, a relationship of trust is built between them that benefits the client in a way that could not happen in a quick comment on an internet message board. From my personal experience, I can testify to giving preferental treatment to my personal clients. (Almost all real estate professionals will do the same.) I will bend over backwards for my clients, and share the expertise I've gained from my years of experience, to make sure they have all the tools they need to get the best "deal" they can.

I could go on and on, but the answer to my own question is "NO!" "This is not the equivalent of floor time." Because the calls that REALTORS® receive during floor time are a two-way street of questions and answers, and the building of a beneficial relationship. This is not the case when only one question is asked on a web site. With no dialogue, there can be no assurance of the accuracy of the information being given (by either party). It's just too difficult to provide all the necessary information. REALTORS® understand that to the consumer, making personal contact may feel awkward in the beginning, but this is how many great relationships start =) With all the technological advances that have been made, and with all the social networking sites that place REALTORS® and real estate customers in contact with each other, there is still no replacement for the personal touch. The technology and the personal touch must be used in conjunction with each other.

1. From a REALTORS®' perspective; we work on straight commission and only get paid when we help our clients reach a successful closing. And we want to know that we're working with a loyal cient.
   
2. And from the perspective of a real estate buyer or seller, they want to make sure they don't get stuck with an inexperienced REALTOR®, or one who does not have their best interests at heart. (To all you buyers and sellers out there, yes we do understand this.)
   

So what is the solution? Well, it's the same solution that eludes many, but has never ceased to be the best and most straight-forward way to achieve success. It's called communication.

• If real estate buyers and sellers are honest about their needs,
  
• If REALTORS® will give their full attention to these buyers and sellers,
  
• If all parties maintain respectful, open communication throughout their working relationship;
  
• The only end-result can be success.