Misleading Real Estate Advertising -- the Quantity vs Quality Debate

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Real Estate Agent with Better Homes and Gardens Real Estate Metro Brokers 290004

It has come to my attention that some real estate agents are advertising that they've sold more homes than the average agent or 400 homes a year and other astronomical figures. My concern with this type of advertising is it doesn't disclose the fact that one agent didn't sell the home-but a team of agents and often an unlicensed staffer helped sell a home. I suppose from the marketing and advertising perspective this makes $$$ sense, but is it really honest to say that just one agent sold so many homes when in reality it was a team of real estate agents and assistants that helped sell it. This seems to be somewhat misleading advertising. What do you think?

Why is there so much emphasis on "Quantity" instead of "Quality." I guess it bugs me because I put a great deal of pride in my quality service and I do it as an individual agent -- not as a team. Not to say there is anything wrong with teams because they definitely have their place. I just wish that agents would be more up front and honest or at least disclose that it wasn't just one person who sold a home-- it was many, not to mention the other agent involved in the transaction. (But - that's another story. )

I would also like to remind everyone that just because an agent sells the most houses doesn't necessarily make him/her the best agent. I often see an inaccurate correlation between the two. From the potential Buyer/Seller client's viewpoint, which is more important "Quantity" or "Quality"?

The answer to that question is what truly matters!

Kelly Blake
Atlanta REALTOR
http://AtlantaAreaHouses.com
"Your Atlanta Area Quality Service Certified REALTOR"

Quality Service Certified

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Rainmaker
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Susan Peters
Dove Realty Inc. - Seattle, WA
The Better it Looks the Better it Sells

Kelly,

I think quality trumps quantity every time. The question is not just how many houses you can an agent  sell in a year, but:

1. What kind of experience did the client have?

2.  How long was the house on the market?

3. How many price drops?

4. What exactly, if anything, did the agent do to get the best price? 

5. How many of those 400 sellers would work with that uber agent again?

6. As a seller, at any given time, do you want to be 1 of 30 or 1 of 3?

 

Sep 07, 2007 05:45 PM #1
Ambassador
566,489
Rosemary Brooks
BMC Real Estate - 209-910-3706 - Stockton, CA
The Mother & Daughter Realty Team
This is a good post.  I think it is not in the number but the manner of service.  I always try to do my best for the customer and that in turn is the best for me.  I strive to do my best all the time.  Customers are the key to my business so there they deserve the utmost care, rather its #1 or #50 house sold.
Sep 07, 2007 05:53 PM #2
Rainer
29,732
Brandon Hoffman
RE/MAX Connected - Irmo, SC

I think that you both raise some good points but don't forget the team aspect can create a very efficient closing. How many times do individual agents get bogged down where teams with defined roles can motor right along like a well oiled machine? Those teams didn't close 400 transactions by accident, they obviously did something right to get there. I say be loud and proud, brag about your successes. You can still provide quality service as a team with lots of listings and clients. To maintain quality service when you get busy you must either 1-not take on more new business 2-hire more staff. The teams have taken option 2.

To the other post by Susan, I'd rather be 1 of 30. Why? Who attracts more buyers-the agent with 30 listings who refers the buyers out and focuses on selling or the agent with 3 listings who does everything alone? I'd bet that mega agent gets ALOT of repeat business, they have drip campaigns and other prospecting tools to stay in touch with their SoI.

Sep 07, 2007 05:54 PM #3
Rainmaker
240,332
Patti Ann Kasper
EXIT REALTY NEXUS - Blaine, MN
Blaine & North Metro Minneapolis St Paul Real Esta

I'm with you.  I had a client who came to me after being "handed off to a flunkie" by a big name big hitter with a big team.

I think a lot depends on the personality of the seller and the location.  Some sellers want to be in constant contact with their agent and not one of their team members.

Also, you generally do not find the big teams in small towns.

I take a great deal of care with my clients and I can always get help from my broker if I need it.  I also have learned not to bite off more than I can chew.

In the end, I think I am happier doing fewer deals and doing a quality job in serving my clients, than if I were just trying to pump and dump.

Sep 07, 2007 06:49 PM #4
Rainmaker
240,332
Patti Ann Kasper
EXIT REALTY NEXUS - Blaine, MN
Blaine & North Metro Minneapolis St Paul Real Esta

I'm with you.  I had a client who came to me after being "handed off to a flunkie" by a big name big hitter with a big team.

I think a lot depends on the personality of the seller and the location.  Some sellers want to be in constant contact with their agent and not one of their team members.

Also, you generally do not find the big teams in small towns.

I take a great deal of care with my clients and I can always get help from my broker if I need it.  I also have learned not to bite off more than I can chew.

In the end, I think I am happier doing fewer deals and doing a quality job in serving my clients, than if I were just trying to pump and dump.

Sep 07, 2007 06:49 PM #5
Rainer
18,712
Don Diltz
Coldwell Banker - Menlo Park, CA
DRE:01204965
Good point.  It is really hard to communicate quality. I think that is why quantity reigns...it is easier to describe and communicate.
Sep 07, 2007 06:56 PM #6
Rainmaker
125,779
Susan Peters
Dove Realty Inc. - Seattle, WA
The Better it Looks the Better it Sells

Brandon,

I have to admit that I haven't had a lot of experience with teams, mostly with mega agents who have a half a dozen assistants. When I've been the buyers agent I've found that there seems to be a disconnect in the process and when I've been the listing agent (in a multiple offer situations, remember them?) I have found the mega agent to be very arrogant but not very effective for their buyer).

That's just my experience. I'll be open to the possibility that having a transaction with a team as opposed to an individual might be a good experience. As far a s bringing more buyers to the table, I can't agree with that, after all, I don't think you lock your buyers in a cage and only let them out to see your listings. Buyers will buy the house that most appeals to them. We're all fishing from the same pool. And to be honest I work in a partnership, maybe that's just a little team.

As Rosemary put it, it's in our best interest to put our clients first.

Sep 07, 2007 07:08 PM #7
Rainmaker
467,817
Midori Miller
Talk 2 Midori, LLC - Daytona Beach, FL
Online Marketing For Real Estate Professionals

Kelly-I have worked alone and I have also had a team with 3 buyer's agents, 2 transaction coordinator's and still gave the same type service...QUALITY.... 

Whether a team or individual, I agree that Quality Service is more important that is how your quantity grows.  Quality provides future business... 

I learned early in my career it is a team who gets a transaction done and I address customer's and am quite upfront with it.  2 agents, buyer and seller, mortgage, appraiser, title....Doesn't matter how you slice it, it is a team, we work together for a common cause....that is a team!  

Sep 07, 2007 07:42 PM #8
Rainer
13,487
Kelly Blake
Better Homes and Gardens Real Estate Metro Brokers - Lilburn, GA
Kelly Blake

Susan P. - That is a good point when you wrote "As a seller, at any given time, do you want to be 1 of 30 or 1 of 3?" Personal service will always win out.

Rosemary B. - So true-- "customers are the key to my business.."

Brandon H. - It is nice to have an efficent closing although sometimes when I must talk to so many people I have to repeat myself to the head agent, their "listing agent" and their closing assistant. Unfortunately I've had experiences where not everyone is on the same page. Of course this can happen anytime but it seems worse when I have to make triple the phone calls and then I realize it's because of non-communication between the team members.

Patti Ann K. - It's true the "handed off to a flunkie" concept seems to make Sellers and/or Buyer's mad. Everyone wants personal attention and that is the critical key.

Don D. - Quantity is easier to describe and communicate. That brings up a good point. If agents would provide more testimonials than numbers-- it might help.

Susan P. - When you wrote "When I've been the buyers agent I've found that there seems to be a disconnect in the process and when I've been the listing agent I have found the mega agent to be very arrogant but not very effective for their buyer." I think that seems to be the team concepts biggest problem - the disconnection in communication.

Midori M. - I'm glad to hear your thoughts on the team and how you are upfront with your clients. That's always great to hear.

Sep 08, 2007 02:45 AM #9
Rainer
29,732
Brandon Hoffman
RE/MAX Connected - Irmo, SC

For the record, I do feel quality is more important than quality. The general consensus seems to be that mega agents don't provide quality service and I do disagree with that. They usually have better marketing, more buyers in hand, and have a history of success. An individual and a team may provide the same level of service, but that is up to the individuals in the transaction.

Sep 08, 2007 05:05 AM #10
Rainmaker
125,779
Susan Peters
Dove Realty Inc. - Seattle, WA
The Better it Looks the Better it Sells
Midori: I agree with your point, that we are all working with a team in one form or the other. I'm wondering how may of you include a stager as a member of your team? When it comes to providing true quality service that's one area of expertise that I think is sadly lacking with teams or individuals. 
Sep 08, 2007 06:23 AM #11
Rainmaker
467,817
Midori Miller
Talk 2 Midori, LLC - Daytona Beach, FL
Online Marketing For Real Estate Professionals

Susan-So sorry to forget the staging business.  Yes there is so much value...I seem to have the flair already without a professional license.  For me it's common sense to stage a home, it was done before there was a name for it.  I addressed and do address this issue.  Now fortunately, you can have one of these experts included a benefit I never had.  So for all you stagers out there, I did not mean to offend!  You do indeed, provide a priceless service!

More and more real estate professionals are obtaining their license and I do think it is important just as pricing the home properly. 

Sep 09, 2007 02:22 AM #12
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