In this episode of CRE Radio & TV live, Peter and I discuss what you should expect from your real estate broker. This is a bit of an introspective in which we address what we expect of ourselves, as service providers, business people and real estate brokers. This show was a live broadcast originally aired on Youtube, Facebook and Twitter/Periscope on August 15, 2019 at 4:00 pm., Pacific time. This recorded video and podcast has been edited. To watch, click on the video below.
Listen to the audio only podcast, below or to download for later listening.
The following is an outline of what we discussed.
EXCEL
Aspiration
Don’t be average
Give more than 120% as often as possible
Don’t be a commodity
Clients can get listings online
Peter talks about how Babe Ruth used to swing for the fences, all the time. The Babe had, at the time and for many years later, more home runs than anyone else……. and more strike outs.
At 5:00 minutes in the podcast
Should the broker be perfect or strive to be perfect?
Is the broker passionate about what they do? If not, how can they bring 100% – 120%?
Peter points out that people with higher aspirations will more likely exceed than those with lesser aspirations.
RESEARCH AND KNOW THE CLIENT
Ask Questions
Listen
Understand what they want
Do Research on the client, before, during and after my representation
UNDERSTAND WHO YOU ARE AND WHAT YOU ARE CAPABLE OF
Are my skills, knowledge, experience in alignment with what the client needs or wants?
Am I the right person for the job?
Do I have the time?
Do I have a team that I can work with or should I refer the representation out to someone else?
What is Your market knowledge?
FOCUS ON:
Details, but don’t get lost in details;
How dis this done?
Process;
What is my process?
Be Flexible and nimble;
I’m a detail person. I like to explain so that the client fully and clearly understands and can make the best, informed decision. However, some of my client’s prefer not to get the details.
THE CLIENT IS THE DECISION MAKER
Remember that the client is the decision maker. I’m there to help them make the best decision possible.
Understand the client’s needs and wants;
COMMUNICATION
How does the client prefer to be communicated with;
Telephone;
Email;
Letter;
In person
How much detail
How much information do they want and in what format;
Often and Consistently
SPECIFIC SHOULD’S AND SHOULDN’TS
SHOULD’S
Expect loyalty;
To get loyalty should you give loyalty;
Exclusive representation
Truthful and accurate representations
Genuiness
Admission of errors?
FOR THE BUYER OR TENANT
Properties should be physically previewed before property is presented to the client
Published listings are generally designed to generate interest and are likely not to describe the warts;
Agent should know the market and have done an:
Area Survey;
Physically explore and understand:
Other properties within relevant proximity to identified property that you will be presenting to the client;
Speak to sellers/landlord’s agent
Speak to other brokers
Speak to landlord’s, owners and other tenants who are not listed
FOR THE SELLER OR LANDLORD
Agent should be at each showing by the buyers/tenant’s broker and/or their client;
Agent should know the market
Area Survey;
Agent should physically explore and understand:
Other properties within relevant proximity to identified property;
Speak to other owners or tenants
Speak to other brokers
MARKETING
Publications;
Where and how often?
Open House?
Reports
SHOULDN’TS
Should send more than just listings or property flyers
Detailed analysis and recommendations;
Agent shouldn’t just say what they like, don’t like and definitely, shouldn’t state what they would do if they were you. You should get the reasons supporting their analysis;
Show imagination, understanding of:
Client’s wants and needs;
Knowledge and experience and the market;
Enthusiasm