Are You More Honest Than A Used Car Salesman?
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One in every of my brokers got here to me just lately with a query from a shopper. He requested her, “What’s the distinction between an actual property agent and a used automobile salesman?”
Now, that seems like the start of a (in all probability upsetting) joke, however her shopper’s an easy man, and he sincerely needed to know. And in the event you take a look at the info round probably the most and least trusted professions, amongst those that charge our trustworthiness “common,” we’re not that far aside: 44.9 % of respondents see used automobile salespeople as having common trustworthiness, versus 56.12 % who see actual property brokers that means.
We fare slightly higher on the ends of the spectrum. Extra individuals see us as excessive or very excessive on the trustworthiness scale and fewer see us as low or very low, however there’s definitely a variety of room for enchancment.
There’s a stage of professionalism that some actual property brokers don’t maintain themselves to. In the true property trade, some individuals see themselves as salespeople and get centered on the fee — what I prefer to name getting “fee breath” and chasing that greenback.
That’s completely different from performing as a trusted fiduciary and excited about what’s in the most effective curiosity of the shopper. The extent of professionalism you convey to the desk units you aside, and it helps outline you.
If you must examine your self to a automobile salesman, a minimum of be a high-end automobile salesman, like a BMW, Mercedes or Lamborghini — somebody who’s promoting the exotics at a better worth level. They’re not as apprehensive concerning the fee as the standard used automobile salesman.
All joking apart, this can be a widespread analogy, and I’m not stunned that this shopper requested this query. Simply give it some thought: Research present that we have now comparable ranges of belief, but we’re promoting someone’s home or serving to somebody purchase a home.
That ought to give us all pause.
Setting the expectation and establishing a stage of service
So why does that notion persist, and the way can we overcome it? I believe we begin by defining ourselves otherwise proper out of the gate, setting the extent of expectation and repair that we’re offering proper up entrance with that first shopper communication.
We’re by no means going to have the ability to change detrimental perceptions about our trade except all of us begin altering how we function, how we act, how we view ourselves. The detrimental notion is nearly a mirrored image of the self-perception of some brokers.
I’m an enormous believer in valuing your personal time and behaving in a very skilled method.
When my son isn’t feeling properly, I’ve to name the physician at 8:30 a.m. to get an appointment for the day. If I don’t, the physician will guide up. The physician’s workplace received’t keep open late so we will get in, they usually’re not going to hurry in early to look in his ears.
While you’re leaping by hoops to fulfill a shopper at 7:30 p.m. to point out them a home quarter-hour after they referred to as you, or dropping all the pieces you’re doing at any time when they inform you to, that’s slightly extra used automobile salesman than what your physician, your legal professional or one other skilled would do.
We will’t, as people, change all the stigmas that exist round our trade. It’s on the market that brokers are commission-hungry, that they receives a commission an excessive amount of and so forth. However you possibly can change the notion on a person foundation by the best way you conduct your self and the extent of service that you simply present to your purchasers from Day 1.
Data-gathering vs. relationship-building
When somebody walks right into a automobile dealership or onto a used automobile lot, the knowledge they offer is all concerning the nuts and bolts of the kind of automobile they’re in search of and the cash they’ve accessible for his or her buy. If that’s the best way you’re approaching the preliminary purchaser or vendor assembly, you’re performing like a automobile salesman.
Our job is to create a relationship and consider the standards round their objectives to find out how we may help that shopper. As an alternative of trying to qualify them for a mortgage, we’re serving to to find out how that shopper suits into the huge spectrum of the true property world. Our job is to information, to not promote.
The home (apartment, co-op or lot) will promote itself as soon as we current it, so long as we all know the shopper and their wants.
That additionally means we’re not right here to “soup up” that property. We’re right here to make sure that patrons and sellers are making the best selections, giving them the information and the worth they should make these selections.
We’re not simply right here for the numbers as a result of we all know that if we deal with them proper, these purchasers will come again later. They’re going to have kids; they’re going to have sisters and nieces and buddies who they’ll wish to confer with us. We’re going to construct these relationships to construct that long-term referral community.
So, we’re not application-based. We’re criteria- and relationship-based. And that’s one factor that I believe even our purchasers neglect about. It’s extra than simply the sale.
Let me say that once more: It’s extra than simply the sale.
So what’s (or must be) the distinction between a automobile salesperson and an actual property agent? The one factor they’ll supply their buyer that has worth is the automobile. We’re providing a lifetime of data and expertise, and that’s what separates us.
Like a lot of you, I take a lot pleasure in my work, and I worth the friendships and relationships that I develop with each one in all my purchasers. Keep in mind that all the pieces you and I do displays on each different agent and dealer within the trade. It’s value exhibiting up at our greatest each single day as a result of that enables us to make our little nook of the true property world higher.