Realtors: How do they earn their money??? I have learned over the years in this business that many, many would be clients do not understand how I get paid. The perception seems to be that I drive them to a few homes, write up a pre-designed contract, submit it, and collect my 3% of the Sales price! Boom-da-da-boom! How easy is that?? Realtors have it so good....
Years ago, when I was leaving New Homes and entering the Resale world of Real Estate, I didn't "get" this. I would spend hours preparing, hours driving people around, hours educating them about the area and developments and builders etc., then be stunned when they would "buy from my sister, or friend, or the agent that had the Open House." Where is the loyalty I wondered? I used to take it personally figuring they just didn't like me.
I now know that most of the time, it is simple ignorance. Ignorance about the process from start to finish. I now, educate my potential Buyers by meeting them and having a sit down. I listen to what they want, how ready they are to buy or exactly what stage in the buying process they are truly at. It is at that first meeting that I explain how I am paid and why loyalty between a buyer and their Realtor is critical to their best interests..getting great representation.
- You don't HAVE to use me. But..after our day today, give me your honest feedback. Until I do not perform my job to the utmost level of my ability, do not "fire" me by going with someone else. (The Buyer's Representation agreement comes in handy here, but I have not found them to be as reliable as honest understanding between myself and my client.)
- I explain how I use my time; the number of hours involved in a single day of showing properties. The prep work, the update work, the follow up work. I help my Buyers understand that to be the first one to the most current listings, their Realtor must be vigilant and stay focused on what they are looking for.
- I help them understand that Loyalty is a two way street. I will be all over their needs if they are loyal to me and my services.
- I confront them with the fact that playing realtors against one another is not only unfair and under handed, but I do NOT compete with my fellow realtors. If my potential client does not feel I am equipped to give them stellar representation, I ask them to look for another Realtor who will suit them better.
I have found that helping my Buyers understand how many hours, how much homework, how many years of researching the areas/cities/developments/builders has gone into my real estate expertise comes back in loyalty spades!
Comments(6)