News travels fast, especially bad news, and all because of the internet. We have Twitter, Facebook, Yelp, and other online sources where people can report negative issues.
Consumers sometimes think they do a good job at shopping for specific services when they actually don't. Because information is so readily at our finger tips, they just dive into the main course, almost like if you were to eat with your fingers, but not use your silverware. Same issue with using the internet. There are so many tools that can be used, or one to be properly educated, but the consumer is so hungry and starved for good information, if they think they have found it, they stop. The same can be said when just shopping for a real estate agent or a loan officer, no matter if it's done online, through word of mouth, etc, etc.
Jonathan Washburn had written this a few months ago :
This is a must read to understand what I am talking about and where we could be heading.
If you haven't figured it out by now, there are people with bad experiences within the real estate and mortgage industry who tend to pick bad agents or loan officers. If you are next in line when picked after a bad experience, and because that person already has a bad taste in their mouth, you need to be better than just good. Why? You might already be starting in the basement.
Below are 3 articles that give examples and or talk about the problems that consumers are facing and what realtors are facing. How does one define a great realtor? A great loan officer? Is it done by your production numbers? How much money you made? Because the person seems really really nice?
Many talk about educating the consumer. Okay, sounds great... sounds easy. But what if that consumer is getting the wrong information? How do we put an end to this, as Elizabeth Cooper stated in her post. I know this is a lot of reading, but you need to read all 3 posts.
Elizabeth Cooper-Golden wrote :
Carla Muss wrote :
Leslie Ebersole wrote :
Conclusion : So Jeff, where are you going with all of this??? I read an article in the Philadelphia Inquirer's business section written by Alan J. Heavens from December 19th, 2010.
We talk about educating the consumer so they can make better choices. But how and where can this be done? Who gets chosen as the true expert in real estate or regarding mortgages.
With this post, I wanted to set the table, put this out there so we have a starting place at the table. In part 2, I will be diving into the main course with some thought and facts pertaining to the said referenced articles above. What are your thoughts now? What could you add to any of this, as we move forward. Do you see any of this as a growing problem? Do you see some sort of rating system? For realtors and loan officers?
Check this out... Angie's List - An online referral system, that vouches for specific companies. Is this list the next BBB, Better Business Bureau? Are there holes in lists or companies like this? I would think so, but what do you think?
Is Angie's list the next wave of online services that will dictate your business online?
Is this a wake up call to what lies ahead?
The end result... are you one to dive into the information society with your fingers, just grabbing at anything that sounds or looks good, or do you properly research? This will be talked about in part 2.