“So, What is a GOOD Real Estate Agent?”
August 15, 2008
“So, What is a GOOD Real Estate Agent?”
I recently did a presentation for a local (Denver) real estate company on Prospecting without a Sales Pitch. When I got to the part about why I think it’s more important to be a good real estate agent than to be a good real estate prospector, a hand went up in the back of the room.
“What exactly do you mean by being a “good” real estate agent?”
Ahhhhhh…. I’m SO glad you asked.
Our industry celebrates production. Therefore, if you have lots of that (production), you are “good.” Eh, I don’t agree so much. I’ve known many a successful real estate agent who I would not in a million years accuse of being “good.” Oh, sure, he or she gets plenty of business, but what they do with it after the paperwork is signed? Not much.
So anyway, back to the question from my audience. “What makes a real estate agent GOOD?”
My mouth could barely keep up with my brain. What I said was something like this:
- “You know your market, your systems and your contracts.
- You are a good negotiator.
- You put your clients’ needs above your need for a paycheck.
- You know how to properly price a home.
- You know what your seller needs to do to get his home ready for market.
- You know how to build rapport with your seller so that he trusts you.
- You know how to take decent photos.
- You know how to write an appealing MLS description.
- You return phone calls promptly.
- You preview listings so you don’t waste your buyer’s time.
- You know how much it costs to replace a 50 year old furnace.
- You have a handyman, a cleaning service and a good HVAC contractor.
- You’re pleasant to other agents so they’re happy to show your listings or accept your offers.
- You keep your brochure boxes full.
- Your lockboxes work…”
To me, THIS is a good real estate agent. Do you agree? Or do you think “Top Producer” is always equivalent to “Good?”
About the Author:
Jennifer Allan is a top producing real estate broker, a published author, a speaker and a trainer. She has written five books about the business of selling real estate, including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect. Her book shows new agents how to jumpstart their career so that they can experience success before they become discouraged and risk being just another real estate statistic.
Jennifer began her writing career after ten years of selling real estate successfully in Denver, Colorado. She was dismayed at the low level of professionalism she frequently encountered in the real estate industry and, with her "soulful" message, hopes to encourage the real estate community to self-correct the negative stereotypes of the profession.
She is a regular columnist at Realty Times and RE/MAX Times, and one of the industry's most popular bloggers. She recently rejoined her former RE/MAX office as a broker associate and is thoroughly enjoying dividing her time between real estate sales, writing, and coaching.
To learn more about Jennifer's books and philosophies, please visit her website at http://www.sellwithsoul.com/.
I clicked over with high hopes, this being home of the Barrys and all. (How are you?! It’s been a while.) I must admit I am a little disappointed. A list of activities involved in real estate is what defines a “good” agent? I count three that an agent has to be good at, three that are just part of being a good person, three that are incidental and six that someone else should handle (maybe time management should have topped this list).
I guess 100 different people may have 100 different ideas on what it means to be good at something. Hard to argue with success though.
I’ve known many a successful real estate agent who I would not in a million years accuse of being “good.”
Really? Many? What… were they lucky?
Hey Sean..thanks for stopping by. As you notice, this was written by Jennifer Allan, one of our guest author contributors.
Notice I did not comment prior to what you wrote. If I had, I may have said much the same as you did and of course would have probably added a little sauce or Pepper to the pot.
However, Jennifer’s a big girl and I am sure she’ll respond to you..this oughtta be some fun!
Sorry - I missed this little conversation until today. And, yeah, I’m a bit startled that my list could be considered disappointing. Perhaps this stuff should be obvious, but of those of us who deal with other agents on a daily basis, it very clearly isn’t.
I consider an agent to be “good” if they serve their clients and do their job professionally. I do not consider a master prospector to be, by default, a “good” real estate agent. Making a lot of money is not MY definition of good, although it’s certainly possible to be good AND well-paid. However, it’s also possible to be mediocre… and well-paid. That’s my opinion; yours may be quite different.
Barry and/or Sean - How do YOU define good?
Hi Jennifer,
My problem with the list may not be the same as Sean’s. I personally don’t define the line items you show as being good becasue they should be inherent with the role.
For instance, when i played football, it was hardly a compliment if some one said I tackled. That came with the territory…it was what I was supposed to do!
I feel your line items convey some sort of accomplishment upon an agent when in fact that those items are should be involuntary, an inherent quality or expected standard for even being in the industry.
Are we to applaud an agent and call them “GOOD” because “they return calls promptly”??
That’s not a GOOD agent that’s merely someone doing what they are supposed to do. Has the quality of realtors diminished so far that returning a phone call elevates your game?
Go to any business anywhere in your city, stop in and ask the owner of that business if he or she considers the performance of their secretary “GOOD” because she answers the phone…I’m sorry takes a message becasue I am wrong as you left off the list the skill of actually ANSWERING the phone. That must be reserved for the EXCELLENT agent!
So my problem with the list is that there even is a list. If this defines a GOOD agent the real estate industry is in for even more trouble than is forecast.
I find it interesting that neither Sean nor Barry actually took the ball and ran with it….I would love to hear what they consider “good” also.
Perhaps the question should be asked of past clients? They are the people who ultimately make that determination, and the referrals will follow (or not) based upon their experience throughout the process.
FWIW, I agree wholeheartedly with your list. It outlines critical components of a successful agent and subsequent transactions–from the beginning (as in: before a customer/client even walks through the door.)
Delegation has its place…but in order to effectively delegate tasks, you must have a thorough understanding of what you are delegating before handing it off to someone else.
“I’m a good agent because I said so.” isn’t really substantial enough for this gal. I suspect they were looking for a definition of a “good agent” from a “safe within the confines of the weekly sales meeting” perspective. Seems to me they weren’t all that concerned about the consumer’s point of view…
Ultimately, a “good” agent puts their clients’ needs first, and in order to do so, they need to be effective and knowledgable in ALL the aspects of the transaction. For me, personally, I’m not a good agent unless my clients consider me to be good. That doesn’t mean we have to agree, but if we don’t have a mutual respect for each other’s intelligence and points of view, and we suffer from a lack of the knowledge or competence required to see a transaction through from first contact to the closing table, there is little chance of ever being accused of being “good”.
It is unfortunate that many consumers are unaware that their real estate goals can be achieved without being bullied, passed off on others or shamed by their “lack of knowledge” . When practicing “time management” skills, be sure to pencil in a few minutes to put yourself in your clients’ shoes. It can be enlightening and it surely brings you one giant step closer to “being good”.
Fair enough, Barry, but you picked on one item - returning phone calls promptly (which, in any industry, is NOT something to be taken for granted). However, there are 14 other indicators on my list of “good” that require more effort, expertise or attention to detail than simply returning a phone call.
My point in making the line-item list was to imply that a Good Real Estate Agent does ALL of these things consistently which, I think we can all agree, IS the exception, not the norm (again, in any industry where a commission is involved, not just real estate). Many people who are attracted to an industry where they are paid on commission are going to focus heavily on prospecting, and less so on service.
I have worked with, and even for, top producing real estate agents who would fail “my” test of “good,” yet they do succeed because they are exceptional at the sales pitch. Unfortunately, they will be likely be perfecting that sales pitch for years to come because they will not enjoy a repeat/referral business.
But again, I will ask, how do you define a “good” real estate agent? What did I neglect to mention?
Jennifer whil I only picked one for illustrative purposes, I did not know that you would expect me to go line by line…my comment covers all of the items you wrote.
It is, in my opinion, absurd to qualify the list as being the attribute of a GOOD agent.
Too many agents think that what they do qualifies them as being exemplary when it is what should be expected.
If you are in business these things are MINIMUM standards..like having gas in your car to show a home..like a restaurant having plates to serve food on!
C’mon have agents degraded so far that they want a pat on the back for simply showing up?
Here ya go:
“You know your market, your systems and your contracts. EXPECTED
You are a good negotiator. EXPECTED
You put your clients’ needs above your need for a paycheck. EXPECTED
You know how to properly price a home. EXPECTED
You know what your seller needs to do to get his home ready for market. EXPECTED
You know how to build rapport with your seller so that he trusts you. EXPECTED
You know how to take decent photos. EXPECTED
You know how to write an appealing MLS description. EXPECTED
You return phone calls promptly. EXPECTED
You preview listings so you don’t waste your buyer’s time. EXPECTED
You know how much it costs to replace a 50 year old furnace. EXPECTED
You have a handyman, a cleaning service and a good HVAC contractor. EXPECTED
You’re pleasant to other agents so they’re happy to show your listings or accept your offers. ABSURD IN ITS INCLUSION
You keep your brochure boxes full. LMAO..EXPECTED
Your lockboxes work…” Again..LMAO EXPECTED
What’s scary about all of this is the notion that there are many..many..who don’t even do this and still expect the consumer to pay 6%.!!
Jennifer if this stuff defines what a good agent is…you have to admit that there is a whole new appreciation for someone who goes BEYOND what is expected.
BTW, when I made this list, I’ll admit it was a bit tongue-in-cheek (whatever that means), in that this stuff SEEMS obvious to me, too. I mean… isn’t it obvious that a real estate agent should know how to price a home? Or how to write an appealing MLS description? I mean, DUH!!!!! I guess that’s my point - these are the things that make an agent “good” but are very often neglected. The vast majority of new agents receive ZERO training in such things, but they spend hours and hours in Prospecting Class…
Wow Jennifer…”vast majority of new agents receive ZERO training in such things”…that’s really a shame isn’t it?
Yep. And, that’s the original reason I wrote Sell with Soul. Some of the more training-oriented companies do teach agents some of the basics of transaction management, but the vast majority is learned thru trial and error… on the job.
To respond to your line-item list with the EXPECTEDs - I agree 100%. And yes, there are a gazillion ways to go above and beyond this list, which most “good” agents do on a regular basis, although those *above and beyond* situations are usually transaction-specific and tough to describe in a generic sense. (As in - “Figure out why the hell your listing isn’t selling and fix the problem!” - that’s a bit vague, but certainly a big part of our job).
You may have noticed that I don’t include “the willingness to spend a bucket of money marketing a property” on my list - but that’s a different topic.
Expected, yes. Delivered…not so much.
The list outlines the basics, to be sure. Unfortunately, too many self-professed “good” agents get lazy as they plow forward to reach their ultimate goal of “production” and frequently gloss over these “expectations”.
Without consistent practice and review of these basic expectations, how can an agent possibly expect to deliver excellence? These are the very foundation of a “good agent”, are they not?
Ask consumers what their biggest gripes are with their past real estate agents, and I suspect you will find they point out the agent’s lack of attention to several of the “expected” items as their primary reasons for their dissatisfaction.
Going “above & beyond” means exceeding expectations…but you have to meet the basic expectations before you have any hope of exceeding them.
Quoting Barry: “Too many agents think that what they do qualifies them as being exemplary when it is what should be expected.”
I agree 100% with this sentiment. But SHOULD is the operative word. So very many agents do NOT bother to meet these minimum expectations, that anyone who does is, by comparison, “exemplary.”
[...] http://www.realestateradiousa.com/blog/2008/08/15/what-is-a-good-real-estate-agent/ [...]
Jennifer,
It is great to hear from you. I thought Barry captured the essences of my problem with your list in his first comment. As I said, many of these items are common decency, never mind the basics of being a business woman.
Return calls?
Build rapport?
Be pleasant?!?!
I mean seriously… those are traits we talk to our six year old about and have no place in a description of what defines a good agent. There are also a few items that can and should be done by someone else. Possibly the most important way we take care of our clients is with our time. If you like taking pictures and are good at it - by all means do so. I am a pretty good writer and I enjoy creating single site pages for my listings even though they are time consuming. But neither of those skills makes one a good agent. Knowing how to get them done - by yourself or someone else - would, however, contribute to making you a good agent just as knowing the number of a good HVAC contractor will. But then again, my assistant should handle those types of questions.
Let’s go back to the core of your question. You asked what it means to be a good agent. I suppose you could have narrowed the question and defined “good” as someone morally pleasant… but I don’t think that is the common definition. A “good” agent is someone who is successful. As in: she is good at what she does. To be a good agent who does not find success is to be an unemployed agent and that is not much of a definition at all.
I have the good fortune to talk with groups of agents at various times and I often ask them this question: “what do you do for a living?” It is extrememly rare that I get the correct answer. As real estate agents, we may get paid because a transaction closes but what we do for a living is marketing. That’s right: marketing. You are hired to market a client’s home. You are hired to market your client to the seller. You are always marketing yourself to the community and your potential employers. A good agent is someone who understands marketing and does it well. They will not only be successful in their transaction, but they will garner repeat business. Why? Because people hire you for your results and your perceived level of expertise.
If you want to be a “good” agent you will have to do more than follow a list of bare minimums. Learn how to market and continue to increase your level of expertise (through education and/or a narrowing of your specialty). If accolades, referrals and money do not follow, you are still missing some basic level of service that anyone in business should follow. Becoming a real estate agent is easy. Becoming a good one requires you to set your sites a little higher than “know how to price a loan.”
One last thought: “put your clients needs before your own”? As a real estate agent you have a fiduciary relationship with your client. We call it agency. This is not a requirement to be good, this is a requirement by law.
Jennifer..I just don’t get it. I just took a lookie over at your forum and it just leaves me bewildered that some of your clan thinks we are trying to “stir up the pot”.
It just makes me shake my head. People seem to want to get a pat on the back for actually doing their job and one member actually said..actually wrote that by doing the minimum, even though it’s the bare minimum, it exemplified an achievement simply because others would not do that which you wrote.
I understand that you may have written this with a tongue in cheek attitude but some actually believed you and by any account that is really a low bar standard some are setting for themselves.
Hey Sean…when you wrote ““what do you do for a living?” It is extrememly rare that I get the correct answer. As real estate agents, we may get paid because a transaction closes but what we do for a living is marketing. That’s right: marketing. You are hired to market a client’s home. You are hired to market your client to the seller. You are always marketing yourself to the community and your potential employers”…
It made me smile. So many don’t understand this.
Ah, well, Barry & Sean… we’re shaking our heads too wondering what it is you don’t understand about our stance. Interesting, isn’t it? I’m sure you think we’re idiots and we’re wondering about you… (LOL, not overall, just in regard to the topic at hand). Makes for good conversation.
Sean - I think our basic disagreement stems from our perception of what a “good” real estate agent’s job is - or perhaps it’s just semantics. I believe that our job is to first and foremost manage a complicated process with many moving pieces and parts. Any “sales” or “marketing” that’s going on is only a small part of what we do.
I also would like to comment that if you are handing off “managerial” and “transactional” duties to your assistant, then that assistant is part of what makes you “good.” He or she is a part of your team and if he or she is handling the details while you go make rain - well, as long as it’s professionally handled AND THE CLIENT IS SATISFIED with the attention he’s getting, then you’re doing a “good” job.
However, again, I have worked with (as in, on the other side of the closing table, as a listing or buyer agent I hired to represent me and as a partner and assistant) extremely well-paid real estate agents who were barely mediocre in their actual real estate transaction-related skills.
For example, I hired one of the tippy top agents in a city where I had a house to sell and he presented me with a pricing analysis of my home that was simply a list of ten somewhat comparable properties - some active, some sold - with the prices averaged at the bottom. This was his pricing recommendation to me - the AVERAGE price of those ten somewhat comparable homes. Is this an example of a “good” agent? Not to my way of thinking. Neither did he know of a handyman or HVAC guy to refer to me to help me get my home ready for market. Neither did he know any staging professionals. My MLS Listing was full of errors and the photos were horrible. And… he was in the top five agents in town… But “good?” I dont’ think so.
Jennifer,
I think our basic disagreement stems from our perception of what a “good” real estate agent’s job is…
Based on the qualifier at the end, you may be right. There is a difference between defining a “good” real estate agent and defining what a good real estate agent’s “job is.” In your original post you did, in fact, create a partial list of the job of a good agent… or any agent for that matter. But in keeping with my theme here, that is not the definition of what makes an agent good at their chosen profession.
I believe that our job is to first and foremost manage a complicated process with many moving pieces and parts
This statement is more at the root of our disagreement. Please take what I am about to say with the light-hearted nature in which it is intended: managing a transaction is the least important part of being an agent. I can pay people $300 -$400 per transaction to handle that for me! If you define and diffentiate yourself by your management abilities, you will be knocked out of the game as soon as you come across someone who is unique. The philosophy going forward should be well understood: Differentiate of die.
I try to generate my business by doing things that no one else can match. I create custom signs and uniques single sites for listings. I market my buyers in a way that gets their offer accepted in the face of higher offers. These are talents that cannot be handed off to a coordinator. A client may not hire me, but only because someone else presents an equal or better set of unique talents with which the client is more comfortable. This is a very desirable situation. My efforts not only make me a “good” agent, but they force other agents to be at least as good; thus the entire industry improves. Believe me when I tell you that mastering basics is not going to cut it.
You were ‘dead on’ when you said that my assistant is an integral part of what makes me a good agent. As one gets busier your ability to discern talent and hire good people is paramount. But even more important is your ability to recognize the need to make the jump and hire that help. Real Estate agents are in the business of marketing and time management cannot be underestimated. The more time agents spend doing “transactional” work, the less time they have perfecting the skills that make them “good,” successful agents.
Your experience with your out of state agent is well taken. I am working with a client right now who had an agent that did not believe in MLS, lockboxes, the internet or weekend hours! Guess what: she had over 90% of the listings in her small town!! The key here is the word “had.” My client “had” that agent before my team informed him what makes up a good agent. That original agent and that small town is ripe for someone who understands marketing. The fact that someone is a big fish in a pond of one… does not make them good and we should not set the bar at a level one step above them. We should set goals much, much higher and we should hold ourselves and our fellow agents to those goals. What is the point otherwise?
Barry,
I have always enjoyed our discussions. There are plenty of times we do not see eye to eye, but I believe we do agree on some of the most important ideas.
I took a look over at Jennifer’s forum myself. I am impressed with her site and what she is doing. One of the commenters over there referred to you as someone who stirs the pot. I hope you wear that accusation with pride.
Pot-Stirrers always welcome!
Quote from Sean Purcell:
I took a look over at Jennifer’s forum myself. I am impressed with her site and what she is doing. One of the commenters over there referred to you as someone who stirs the pot. I hope you wear that accusation with pride.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Good morning, Gentlemen,
I would be the “commenter”.
I think the word “accusation” is less accurate than “observation”…It apeared to me that rather than respond directly to the questions and comments made regarding the topic at hand, Barry was taking “blog bites” somewhat out of context in order to stimulate a little more action to support his point of view. I have no problem with that…it’s a common side-effect of blogging, and one that I not only enjoy reading, but have been “accused” of succumbing to myself. To my way of thinking, that is, indeed, stirring the pot.
Wear it with pride, disregard it in its entirety, or cut it up into little pieces…your choice.
While perhaps delivered somewhat tongue-in-cheek, I think Jennifer’s point are still valid. That list of basic requirements is non-negotiable if one is to consider themself a good real estate agent. Nowhere did I see her imply that they were the ONLY requirements.
I would think that it would come as no surprise to Barry, or any of his readers/listeners, that the public, generally speaking, does not hold too many folks in the real estate industry in very high regard. And the reason for many of those not-so-warm-and-fuzzies is that there are way too many agents out there who do not practice those most basic of exercises.
I don’t think anyone was disagreeing that all the items listed SHOULD be EXPECTED. The fact is that they are not always delivered. Furthermore, I don’t think that it can be assumed that Top Producer status equates “good” from the consumer standpoint.
Regarding our little “clan”…you should spend a little more time over there getting to know our clanspeople. If you are expecting a bunch of mindless sheep, you will be disappointed. It’s a fairly diverse group consisting of intelligent and insightful and downright funny people with opinions and observations (”accusations” can be such an ugly word…;-) ) concerning this industry and our place in it.
So, come on over and visit. If we are successful in brainwashing…I mean persuading you to come over to the soulful side, we will gladly hold another of our sacred induction celebrations (complete with candles and speaking in tongues.) We’ll fit you for your tartan toga, we’ll conduct the ceremonial shaving of the heads, and we’ll teach you the super-secret-soulful handshake.
Seriously, gentlemen…I think we’re all on the same side, here. We just have different ways of looking at it. And isn’t that grand?
With great respect and warmest regards,
Kim Brown
Self-Appointed Ambassador of Snark, Soul and Mayhem
SWS Forum
There is something almost addictive when the disagreements run the way this one turned out. Sean - won’t you at least agree that Jennifer does a bang-up job on that whole marketing side? After all, you managed to discover the forum, and the listeners and readers of the B&B get a healthy dose of Jennifer’s wisdom or sarcasm every now and then, courtesy of Real Estate Radio USA,…
I have to say something from the perspective of someone who is in marketing for a living. I advise real estate agents and brokers who don’t have the gift for marketing to sub out that portion of their business. Yep - I advise my clients to HIRE people to do their actual “marketing” and property presentations and such for them. I believe that an agent can be a good agent - and delegate the one responsibility that you believe the agent is getting paid for, so long as the agent is GREAT at every aspect of the actual REAL ESTATE transaction (and that’s most of the items on Jennifer’s list).
Cause I don’t care how great or smart an agent is, there is only so much most people can do within the narrow confines of Paint, Publisher and WebBuilder to make a potential consumer fall in love with the area, the neighbors, the ambiance, and finally - the home. There are people in most places who are simply better at that aspect of it - but I’d be hard pressed to hand someone 300-400 bucks to take responsibility for pricing the property, monitoring any repairs, staging, negotiating, etc. etc.
Kim - you rock:-)
Inna,
I do agree with you with regard to Jennifer. She appears to be very adept at marketing, which only serves my point. The disagreement came about because of a list she created that, among other things, did not list marketing as one of the aspects of a “good” agent.
I have a harder time finding agreement with you that you can sub out your marketing. I think you begin to walk a fine line here. In the end, a “good” agent gets belly-to-belly with their clients. Their clients like them and relate to them (this is one reason why blogging is so important: eliminate the wasted time meeting people with whom you will not see eye to eye). It is pretty difficult to get marketing sub’ed out that matches the agent’s personality and passion. You might end up with a lot of wasted appointments.
I stand by my opinion that being GREAT at the aspects Jennifer mentions may lead you to be a “good” agent, but it is not likely. Being GREAT at the basics is more likely to create a basic agent. If you want to be a good agent, you need to market yourself and your clients in whatever way fits your talents. Put another way: if your talents do not include marketing or strong interpersonal skills and are rather biased toward the transaction side of things… I think you will make a fine assistant or transaction coordinator. Whichever the case, it is unlikely you will last long enough to become a good agent. As a 100% commission-based, independent, small business owner, your livelihood depends on your ability to make rain, not operate umbrellas.
Inna,
PS
I’d be hard pressed to hand someone 300-400 bucks to take responsibility for pricing the property, monitoring any repairs, staging, negotiating, etc. etc
I am not suggesting that a good agent abdicates all responsibility to the transaction. I certainly hope you have someone who will oversee such mundane tasks as monitoring repairs and staging. But pricing and negotiating are tasks any agent should do (fiduciary responsibility) and good agents generally do better than most.
Kim…I am not sure you have read much of my writings or listened to our show. I don’t hold back. Good, bad or indifferent, I’ll tell you what I am thinking. You’ll never have to wonder.
By the way..that would be a Xtra LARGE tartan toga, and we may be able to skip the ceremonial shaving of the heads, as time and football have taken their toll already..but if I was to ever receive an invitation by the Soulful Goddess I would welcome the opportunity to meet more of the “clan” and indeed learn the super-secret-soulful handshake!
“As a 100% commission-based, independent, small business owner, your livelihood depends on your ability to make rain, not operate umbrellas.”
Well, yet another thing we (Sean and I) disagree on. But I have to say that I appreciate your (sean’s) respectful attitude (that’s kinda rare when participating in online debates).
First, Inna does all my marketing. I suck at marketing. BIG TIME. I realized that a long time ago and finally realized I could hire it out. So I did.
I would never, ever, ever in a gazillion years hire out the management of my listings, buyers and contracts. That’s where I shine. When I sold real estate full time (prior to becoming a world-famous writer), I sold between 50 and 70 houses a year, every year, without an assistant. Because I was such a great marketer (of myself or my listings?) Uh, no. Because I was a GOOD real estate agent who took care of the details and Got the Job Done. My business is and has always been nearly 100% SOI.
See, here’s the thing. I don’t believe that any amount of marketing can sell an unmarketable product, whether that product is an overpriced, underpresented listing or an overhyped, underprepared Realtor. However, it doesn’t take much marketing at all to sell a properly priced, properly presented listing… nor does it take a extensive marketing campaign to generate a steady stream of clients if the Realtor 1) has a database of Satisfied Past Clients (SPCs) and 2) knows her $h*t and can convey that knowledge and competence when presented with an opportunity to impress someone who has or knows someone who has a real estate need.
I am not a rainmaker - never have been. However, I am a fantastic umbrella operator, and therefore am referred by my SPCs as the Realtor Who Will Get the Job Done and Be Pleasant and Respectful While Doing it. Oh, and she’ll return your phone calls promptly, too!
Doing a great job for my clients has always been my first priority and that attitude has resulted in a very rainy career.
Luckily, you don’t have to do it my way and I don’t have to do it yours and we’ll probably both make plenty of money selling real estate.
“See, here’s the thing. I don’t believe that any amount of marketing can sell an unmarketable product”
Pet Rock
Hula Hoop
Slinky
As a guy involved with marketing on many different levels and for various different businesses, the right brand and the right marketing can allow you to sell anything..well except maybe a diet candy called Ayds after a horrible disease gets named the same as your product. Pretty much game over there.
Fair enough… but are you saying that enough marketing can sell a bad listing?
By the way, it may be that we have different definitions of “marketing.” I am referring to marketing in the traditional sense - newspaper ads, color brochures, open houses, postcards, etc. However, I believe that I do “market” my listings quite effectively by helping my seller create a marketable product before we ever hit the market. That takes a lot of tact, knowledge, experience and human resources; much more so than designing a jazzy brochure or paying for a single-listing web site.
Okay, well, I need to run *across town* to show an already-represented buyer my new listing for the 2nd time today (cause his agent is out of town). Those familiar with the other Hot Topic at the SWS forum know what I’m talking about!
I have no doubt that you market your listings well. Would not even venture a thought otherwise.
As to your question…”are you saying that enough marketing can sell a bad listing? ” I am confused..I believe any property, anywhere will sell if priced correctly and marketed to the right demo. But I see you are saying “listing” which I assume you are saying a badly listed property…menaing NOT priced or marketed to the right demo..then I agree it will be hard to sell.
Now I’m even more confused.
A good agent “respects” their clients. I have heard agents, who somehow get a lot of business, yell at their clients over the phone, be rude and pushy. Respect goes a long way towards being there to “help” them either with their purchase or sale. We, as agents, have a fudiciary duty to our clients to make sure they understand contracts, and don’t make mistakes that might cost them huge sums of money, let alone a law suit. Personally, I have no intention of finding myself in court, and I certainly don’t want my clients there either. A good agent protects them from a bad investment by pointing out issues that may not be clear to them.
All of the other stuff is just stuff that almost everyone does. If I want to rise above that I must set a higher standard of care, and I do. It is my job to explain the contract before they sign it. To explain why, in California, we have four different pages with the same disclosures on them and why they have to sign all of them. It is my job to understand all of that and be able to explain it to the average Joe.
It is my job as a “good agent” to treat my clients as though they were my family or friend and explain the process of the purchase or sale. Most people don’t buy or sell often and need to be brought up to speed.
It is my job to remind them of the need to move funds once a ratified contract is in place. It is my job to remind the seller to leave the house when it’s being shown and then to report back to them about showings.
That’s what I think a good agent is all about; a good communicator, a tenacious negotiator, and someone who stays calm in the storm. Since I am quick with my Blackberry to respond to my clients, that’s a given.
GREAT STUFF, Lenore! On the cover of my book, there are four words: Respect, Competence, Enthusiasm and Confidence. Respect is #1 and forms the basis for my Sell with Soul philosophy.
I’m delighted to meet you - I can tell you are one of the “good” ones, although I will take exception to your comment that the rest is “Just stuff everyone else does.” If that’s the case in your market, you are truly blessed to be surrounded by professionals. It’s far from the case in the markets I’ve worked in.
Jennifer, I am very fortunate to work in a market with outstanding agents, most of whom are very well trained, too. We are a high end market and you just can’t fool professionals with poor service and flippant remarks. Respect, intelligence, and kindness are necessary. I should stress the kindness because when the shock of the prices for our market wears off, you need a lot of kindesss.
[...] closed the show today talking about a fiery discussion happening on our blog with a post titled, “So, What is a GOOD Real Estate Agent?”. Don’t forget to check out the comments and lets us know what YOU [...]
[...] was reading a post earlier today by Jennifer Allan about the definition of a good real estate agent. Jennifer is an author of five books about the [...]