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By: Stefan Swanepoel
Innovation, education, repositioning, restructuring, implementation and professionalism are a few of the keywords that need to fuel your daily thinking.
It’s time that we as real estate professionals take our industry to the next level both structurally and professionally — and you, Mr. and Mrs. Realtor®, need to play your part.
Professionalism isn’t a new term and it means different things to different people. But whatever it is or however we define it, it is a key building block as we move forward.
The Consumer
Today’s homebuyers and sellers have long since transcended the need for locating information. In that regard the Internet changed that paradigm. What they however do still want, and need, is assistance and guidance from a trusted real estate professional.
Consider the following responses from the California Association of Realtors® Survey of California Home Buyers, which explored what buyers are asking for:
- A better understanding of the direction of the market
- An improvement in the agent’s negotiation skill; 82% were dissatisfied
- More assistance in the mortgage approval process
- A good understanding of purchasing distressed properties
- A faster response time from the agent
So, even though consumers have all the information, 54% of them still think the information they gathered on the Internet was less useful than that provided by their real estate agent.
At the same time, the housing market dynamics have shifted from prior years when conditions were more favorable for sellers to conditions now that have buyers realizing the increasing power they have over the home-buying process. As a result, it is critical for agents to clearly understand the buyers\' expectations and deliver accordingly, and that comes with a price.
The market and consumer knowledge/expectation are commanding more and more of the real estate agent’s time and as a result, the business-as-usual approach has, for the most part, become obsolete. Consumers have a good idea of what they want - trust, confidence, transparency, interpretation of information and additional services (mortgage, home warranty, inspection, etc.), all of which takes time.
Your Knowledge
It is no longer about just being licensed agent.
It is no longer about just being a member of the NAR.
It is no longer about the letters behind your name.
The consumer is looking for real knowledge, proven experience and professional quality service.
So ask yourself: Do I have all the specific knowledge that may be required for a specific task whether that\'s handling a short sale, a foreclosure, a luxury property, the staging of a home or a green transaction?
If not, and if you care in Raising the Bar in our industry, then understand that the time has come to for you to focus on improving your knowledge, your skill set and increasing the value you bring to the home buying transaction.
2010 Trends Report
“Raising the Bar” is one of the topics discussed by Stefan Swanepoel in the latest edition of his annual Swanepoel Trends Report. The 172-page 2010 edition (www.RETrends.com) that was published this week. You can also follow the discussion at #RTB on Twitter.com.
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A leading visionary on business trends and change in the real estate industry, Stefan Swanepoel has penned fifteen books, whitepapers, and reports, including the Amazon Bestseller Real Estate Confronts Reality (1997), the widely acclaimed annual Swanepoel TRENDS Report (2006-2009), and the new Swanepoel SOCIAL MEDIA Report (2010). To contact the author or learn more about any of his books visit www.RETrends.com. |
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