Two nights ago, I did a presentation for a local Exit 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, they get 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 that being a Master Prospector is the key to "good?"
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Excellent description. Being good is so much more than your production level! Problem is many Brokers only value the production level and not the service level.
I tihnk the most important thing is that you value your clients' needs and time. When you do that all the other things follow - such as returning phone calls, previewing, etc. Even though i'm a realtor now I still consider the woman who helped us buy and sell our first 2 homes as "my real estate agent". She works for a different company but we still talk. She became more of a friend than someone helping us with a business transaction. That's a good real estate agent.
Be good and the prospecting will take care of itself...By that I mean that the referrals will come and you let your past and present clients do the work of prospecting for you. And what better client would you want?
Don R.
You are hired! This mentality is the one we look for in Agents. Good isn't always the highest paycheck but its certainly the highest standards.
Nicely put Jennifer. It all goes back to treating others as you would have them treat you.
Jennifer, wow your concise statement of what is a good agent should be put on a Post It note and stuck on every Realtor's forehead. I couldn't agree more with you.
Quality over Quantity. You summed it up so well!
You rock.
'nuff said.
Kim - the good news is that Quality will lead to Quantity!!!! Thanks Rockin' Kim!
Gary - Okay, let's break out the post-its...
Laura - yeah! that pesky old Golden Rule...
Chip - Thank you! I'll be there later today to put up my For Sale sign.
Don - Exactly - Real Estate without Prospecting - what a concept...
Stacey-Ann - you're right - it's all about respect.
Monika - Successful DOES NOT EQUAL Good!
Your blog really speaks to what is the definition of good, If good is a big pipeline and money then prospecting is more important. If being good means what you talked about then.... Maybe a part of the definition of being good should include being respected. If that is the case then with a heavy weight on your points and being monetarily successful can be included
Y'know, Charlie, when I wrote the blog, I felt the same way, but when I read your comment, I realized that in my experience, being good leads to a full pipeline just as surely (or more so) than masterful prospecting. I certainly don't mean to give the impression that you have to choose between being GOOD and being SUCCESSFUL!
Gary Keller tells a story about a ceramics class that ultimately ends with the addage "the quality is IN the quantity". By doing more, you get better.
With that said, I think that there MUST be some of both in order to be able to survive, succeed, and then thrive. If you are a GREAT agent, by your definition, it means little if no one puts you to work. And you can be a master at prospecting and getting new business but it will mean NOTHING 5 years from now when you have basically churned and burned through your area and are not getting any repeat and/or referral business.
So I think that you MUST know how to generate business and you must always STRIVE to be good with the business you do...strive to do even better every day. That would more likely be a pattern for success rather than sitting on your hands "learning" how to be a great agent before you actually start "being" an agent. I honestly see it everyday that agents wait and wait and wait...presumably until they KNOW everything to jump in and do anything and that is a direct route to failure and out of the business regardless of how GOOD you are.
FASCINTATING food for thought, Jennifer. I agree with you and Ron.(among others...)
YES, you do need to be good
YES, you do need a client to be good WITH ! (How's that for using a preposition to end a sentence with?)
Moral of the story: Be good all the time, prospect enough to earn what you want.
FASCINTATING food for thought, Jennifer. I agree with you and Ron.(among others...)
YES, you do need to be good
YES, you do need a client to be good WITH ! (How's that for using a preposition to end a sentence with?)
Moral of the story: Be good all the time, prospect enough to earn what you want.
What's with the system now
double spacing
all my
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Sweet Jen - important enough to attack my keyboard one handed! the answer is rather simple. a good real estate agent does his or her job. a good agent does not have to read the NAR code of ethics. a good agent lives by them naturally. a good agent understands fiduciary implicitly.
a successful agent may be viewed subjectively or objectively. standards are always in the eye of the beholder. the truth is only found in the heart of the agent.
production is impacted by several factors, not the least is locale. production is important to brokers because they have to keep the doors open. they are not black hearted, they are bottom line oriented. we need them too.
a good agent prospects naturally through the way they do their business.
my two cents, hammered out one handed for my fav j-dawg
Jennifer- I think your definition of a good agent is spot on.
Jennifer-
Your description is great. I have found what we might consider a good agent based upon production is not a good agent if there is a big wake left behind them with unsatisfied clients and lawsuits!
As usual Jennifer you hit the nail on the head... how'd you get so smart anyway and when are you starting your training/motivational speaker tour?
You stated many definitions that are key to being a good real estate agent. I just wanted to add an addendum ;). After we've built rapport, we have to MAINTAIN that relationship for the entire time frame, until the transaction is complete, and then continue it AFTER completion as well.
Great, well presented post. Thanks for giving us a good job description. Nice to read the positive things in a world that isn't.
Jennifer, Great list. Thanks for sharing this with us. I'm working hard at perfecting this list for myself.
Jennifer, LOL....you are so dead on. There are agents in my area that sell a ton of homes, but I would not turn to them if I was looking to buy or sell. Their clients are nothing more than a number and paycheck. Not only do they not provide good service...in many cases they aren't ethical....I may not sell as many, but my clients are happy....and I can sleep at the end of the day.
Dave
All those things make a good agent- add people skills to the top of the list. Unfortunately, I know many top producers, but they sure lack people skiils!
You know, being "good" can be summarized by "I take care of my clients." For me, that includes emotionally & financially. I pick up the phone, and whatever is on the other line - from faxing a paper to negotiating $60K in repairs, I take care of it. If it's a crying Buyer, I handle it. If it's a frustrated exploding Seller, I handle it. And I agree that being "good" has nothing to do with production. Production can be a result of smart marketing/niche establishment rather than an indication of your expertise with clients.
I think it can be a little of both. You need some production to keep you going, but you have to consistently and relentlessly be there for your clients. Not to mention follow up with them for years to come.(And I don't just mean drip campaign emails) Great blog Jenn!
Great post and your description of a good real estate agent is right on. I have seen realtors that are all production and are not good real estate agents.
Great blog. Right on point. The good agents rise to the top, especially in markets like this one. We've got a great crew and they are hanging in there and in constant contact with clients. Once the markets turns and they've weathered the storm, they will be ready to roll.
Tammy Winner, Myrtle Beach Real Estate
Great definition of a 'good agent'! Everyone in the business should strive to be one :).