Developing Customer Relationships is how you Build a Succesful Business

Real Estate Broker/Owner with McCormick Partners Realty

I want to congratulate Lola Audu~Grand Rapids, Michigan Real Estate
Grand Rapids, MI  on her Active Rain Blog Post: Real Estate Consumers...Are You Treating Them Like Royalty?

  Lola Audu, Broker Owner Grand Rapids, Michigan Real Estate. 

When I saw the headline I knew I wanted to read more, but I almost moved on because it looked like a lengthy article. I scrolled down to the bottom of the post and saw that you had received a considerable amount of comments, so I decided to read it. I am glad I did and want to comment on some observations I made.

"Consumers are not stupid" is the main theme which I picked up from your article. There are several other quotes and observations from NAR Chief Economist Lawrence Yun

Mr, Yun points out that although the public perception of Realtors is one of suspicion in general, this attitude changes dramatically when consumers are asked about THEIR SPECIFIC dealing with THEIR REAL ESTATE PROFESSIONAL.

In this case, consumers overwhelmingly indicate that they appreciate and hold dear their OWN REALTOR. One wonders how much of this "general suspicion" towards Realtors is media driven.

I don't believe the media drives that perception. I think we need to look at ourselves and take some responsibility for some of that perception. Lola, I agree with your statement, "The vast majority of my clients and the real estate agents I know are repeat and referral clients. Hardly,an indication of deep loathing for the profession".

When you drive into neighborhoods in Grand Rapids that are in the higher price ranges, you see very few For Sale By Owner Signs. Why is this? According to Mr. Yun, this is because:

"Time is evidently money, and many well-to-do people prefer not wasting their valuable time trying to sell a home - even though some may actually have the skills to do so."  With due respect to Mr. Yun, I don't agree with that statement, ...... the value of time is of equal value to all homeowners, no matter where they stand on the economic ladder.

Lola, You very eloquently point out that most consumers hire real estate professionals and are satisfied with the amount of money they pay for their services. Consumers want Protection,Trust and Loyalty which in turn makes the consumer feel like Royalty.

I want to add that, (approx 87%) of consumers indicate that they would probably use their Realtor again, but (Approx.15%) actually do. You are among the minority of agents that get repeat business and referrals from their past clients. The biggest mistake an agent makes in their career is that they fail to build a lasting relationship with their customers. That is what sets YOU apart from the competition.  

See Lola's post:


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Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Ruben, Thank you for stopping by my blog to read this post & for commenting on it in your related post.  Mr. Yun made some important observations which are sometimes missed in the deluge of negative press associated with the real estate industry in recent years.  Best Wishes to you as you continue your blogging and your business in 2008.

Feb 27, 2008 11:57 AM #1
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