Interesting post on Craigslist Rants and Raves
Normally I wouldn't copy anything I read on CL's R&R because the majority of it is somewhat trashy, but this discussion was interesting and I thought the responder had some relatively intelligent things to say.
The discussion involves a real estate agent asking what he/she could do better to serve their clients and the respondent giving some answers. It's a bit lenghty, but IMHO worth reading through...
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Re: I Am a Real Estate Agent and I Have Questions
Reply to: pers-317480659@craigslist.org
Date: 2007-04-23, 4:52PM PDT
YOU WROTE:
Maybe you all can help me? I am a real estate agent--I know many of you here on R&R hate agents but maybe you can offer me some advice so I don't come off as incompetent or annoying.
I SAY:
I appreciate your asking and I will try to help. You are wise to attempt to separate yourself from the 90% of your colleague Realtors who are incompetent, incapable and/or dishonest.
YOU ASK:
If you are thinking about buying/selling a house, how do you find an agent to help represent you? Do you ask friends for referrals? Do you pay attention to agent advertising?
I SAY:
The only thing I pay attention to is personal referrals. I completely ignore agent advertising for two reasons.
(1) The ads are all virtually identical. Agents hardly ever differentiate themselves in advertising, or make an original point; most think a big photo of themselves is all the differentiating they need to do. If they're that incapable of selling themselves, how are they going to sell my house?
(2) The big Realtor brands are bullshit. There is no branded Century21 "way," or Windermere "way," of selling a house. It is all about the agent's experience, energy and competence, and the brand they labor under has nothing to do with it -- it's just a marketing co-op.
YOU ASK:
Do you call the agent on a 'for sale' sign that's in the yard of a house you want to see?
I SAY:
More often, I have a buyer's agent who is working for me look up the MLS listing and get all possible info on it so we don't contact the selling Realtor cold. That is opening yourself up to manipulation.
YOU ASK:
Is paying the smallest commission THE most important aspect of selling your house?
I SAY:
No. Proving you deserve any commission is the most important aspect. Six percent on a house that costs close to a million bucks is an increasingly indefensible commission -- and there's no earthly rationale for it; it's just the number the Realty bund wants to institutionalize, like the diamond syndicate saying you should spend two month's salary on a ring. So... justify it. I start from the position that if you are like most Realtors, you couldn't possibly deserve six percent. Prove me wrong.
YOU ASK:
Is there any advice you could offer me (the agent) in the way I approach you (the client) to capture your business?
I SAY:
Very few Realtors I've worked with make any attempt to understand the seller's neighborhood or the buyer's needs. They just frantically crash buyers and sellers together and claim to be "making deals." In fact they create hysterics and make everything worse. When we moved to Seattle we fired two buyer's agents who pain no attention to our needs, then found our house on our own and circumvented a third.
Prove you know the rhythm of my neighborhood. Do more than just run the comps -- hell, I can do that myself. Show you know where the market is going, where it will peak, what the realistic price zone is and what for-sale period to expect.
As noted above, show how you plan to differentiate my listing. Almost all your colleagues think they're earning their commission by dumping a listing into MLS and then waiting for the phone to ring. It should not be that difficult for you to distinguish yourself from these farm animals. what are you going to do that I can't do via FSBO? (Note that a bunch of national Realty brands have tried, in recent national ad campaigns, to make the case that they are still relevant. The best Century21 could do was show an agent picking a just-landed Asian family up at the airport. God, that's what taxis are for. Do better.)
Finally, assume a little risk. Volunteer that I should fire you at a certain point if nothing happens. Tie a stepped commission deal to factors like price thresholds and days on the market.
You have to realize that the Internet slaughtered travel agents (rightfully so; most were incompetent), it slaughtered stockbrokers (good), and now it is coming, inexorably, for Realtors. Most will go away; a few smart ones will survive. If you do not add value and prove it you will be mulch. I don't know more than one Realtor, locally, who has any chance to succeed at this.
YOU SAY:
Thanks. It's tough out there but I appreciate any comments to help me in my business.
I SAY:
It's tough out there because Realtors have made it tough on themselves. The business is top-heavy with bubbleheaded, arrogant Ladies Who Lunch who deserve to be swept aside by market forces but are being protected by the archaic, anti-competitive Realty lobby. It would be better for your industry if the majority-force half-wits were pulverized. Good luck to you.
The discussion involves a real estate agent asking what he/she could do better to serve their clients and the respondent giving some answers. It's a bit lenghty, but IMHO worth reading through...
===============================================
Re: I Am a Real Estate Agent and I Have Questions
Reply to: pers-317480659@craigslist.org
Date: 2007-04-23, 4:52PM PDT
YOU WROTE:
Maybe you all can help me? I am a real estate agent--I know many of you here on R&R hate agents but maybe you can offer me some advice so I don't come off as incompetent or annoying.
I SAY:
I appreciate your asking and I will try to help. You are wise to attempt to separate yourself from the 90% of your colleague Realtors who are incompetent, incapable and/or dishonest.
YOU ASK:
If you are thinking about buying/selling a house, how do you find an agent to help represent you? Do you ask friends for referrals? Do you pay attention to agent advertising?
I SAY:
The only thing I pay attention to is personal referrals. I completely ignore agent advertising for two reasons.
(1) The ads are all virtually identical. Agents hardly ever differentiate themselves in advertising, or make an original point; most think a big photo of themselves is all the differentiating they need to do. If they're that incapable of selling themselves, how are they going to sell my house?
(2) The big Realtor brands are bullshit. There is no branded Century21 "way," or Windermere "way," of selling a house. It is all about the agent's experience, energy and competence, and the brand they labor under has nothing to do with it -- it's just a marketing co-op.
YOU ASK:
Do you call the agent on a 'for sale' sign that's in the yard of a house you want to see?
I SAY:
More often, I have a buyer's agent who is working for me look up the MLS listing and get all possible info on it so we don't contact the selling Realtor cold. That is opening yourself up to manipulation.
YOU ASK:
Is paying the smallest commission THE most important aspect of selling your house?
I SAY:
No. Proving you deserve any commission is the most important aspect. Six percent on a house that costs close to a million bucks is an increasingly indefensible commission -- and there's no earthly rationale for it; it's just the number the Realty bund wants to institutionalize, like the diamond syndicate saying you should spend two month's salary on a ring. So... justify it. I start from the position that if you are like most Realtors, you couldn't possibly deserve six percent. Prove me wrong.
YOU ASK:
Is there any advice you could offer me (the agent) in the way I approach you (the client) to capture your business?
I SAY:
Very few Realtors I've worked with make any attempt to understand the seller's neighborhood or the buyer's needs. They just frantically crash buyers and sellers together and claim to be "making deals." In fact they create hysterics and make everything worse. When we moved to Seattle we fired two buyer's agents who pain no attention to our needs, then found our house on our own and circumvented a third.
Prove you know the rhythm of my neighborhood. Do more than just run the comps -- hell, I can do that myself. Show you know where the market is going, where it will peak, what the realistic price zone is and what for-sale period to expect.
As noted above, show how you plan to differentiate my listing. Almost all your colleagues think they're earning their commission by dumping a listing into MLS and then waiting for the phone to ring. It should not be that difficult for you to distinguish yourself from these farm animals. what are you going to do that I can't do via FSBO? (Note that a bunch of national Realty brands have tried, in recent national ad campaigns, to make the case that they are still relevant. The best Century21 could do was show an agent picking a just-landed Asian family up at the airport. God, that's what taxis are for. Do better.)
Finally, assume a little risk. Volunteer that I should fire you at a certain point if nothing happens. Tie a stepped commission deal to factors like price thresholds and days on the market.
You have to realize that the Internet slaughtered travel agents (rightfully so; most were incompetent), it slaughtered stockbrokers (good), and now it is coming, inexorably, for Realtors. Most will go away; a few smart ones will survive. If you do not add value and prove it you will be mulch. I don't know more than one Realtor, locally, who has any chance to succeed at this.
YOU SAY:
Thanks. It's tough out there but I appreciate any comments to help me in my business.
I SAY:
It's tough out there because Realtors have made it tough on themselves. The business is top-heavy with bubbleheaded, arrogant Ladies Who Lunch who deserve to be swept aside by market forces but are being protected by the archaic, anti-competitive Realty lobby. It would be better for your industry if the majority-force half-wits were pulverized. Good luck to you.