Hi I am a Realtor that makes a living charging commissions but I do so (most of the time) with the confidence that when I charge, I also provide an equal service. Realtors are kidding themselves first of all if they think they earn that commission each and every time, but also if they think they are still always worth the full rate We work so hard to protect. I hear arguments about how upset Realtors get when someone asks them to go below full price and I also watch as Realtors charge full price and do nothing. Its a different world in Real Estate and to be able to charge a good rate and full price, Realtors must not do these things and if they are. Stop!
1. No Marketing Plan – Sometimes I think Realtors forget that all non Realtors have the internet. Well thats where most Realtors market and it should go way beyond that. Having a strategic marketing plan that includes the Internet, Email and relationships is key to being a standout today. Being able to convey or physically present that plan to a prospect should be just as important.
2. Lack of Ongoing work – Being a listing agent requires a lot more then a sign and the MLS. It upsets me when you see a listing with the same pictures and marketing materials 90 days from the original listing. Updating and repositioning should be a scheduled task Realtors embrace.
3. No Time – With the internet and so many places to list a property, your time is a lot less valuable. Creating value with your time will separate you from the rest. Working on the listing, sharing, reaching out, making calls, tweeking and really spending time on a listing is what people hire us for. I would bet that the majority of agents don’t spend a lot of time on listings.
4. Not Experts – Listing a property takes a stroke of luck but knowing your market beyond the sales comps can make a difference. Who is buying in an area? What brings people here? Do families or empty nesters tend to move here? Why did the house down the road sell in 3 days? Being an expert in a market will give you that leg up on pricing and expectations. Overpricing a property due to generic comps is a rookie mistake and typically shows itself quickly.
5. Zero Information – A while back the Realtors held the information. Buyers and sellers needed a Realtor to share the available homes and know who to go pick the key up from. Today a buyer and seller many times do not NEED our services but chose to out of convenience. This does not make an industry but a service. Taking the time to understand the information you may have or need to sell a home can add value to your product. Until then your not worth a full price commission.
I rant about Realtors a lot but if it weren’t for big Associations and protecting a general fear of reality, we are the next travel agents. Realtors are doing a bad job of creating value singularly but many tech companies and brokerages are having results. What I fear most is the death of a service that spent so much time fighting the natural evolution and forgetting that We must change to stay valuable to the consumer.