What does the consumer want? Delivering to their satisfaction means more money, less time, and a better business fpr us. Wouldn’t you love to hear people talking about you in the most glowing terms? Would you love to double your referral business while cutting your marketing costs by 75%? You can. Read on.
Would you agree? The more we can fulfill the client’s expectations, the more referrals we can expect from that client. And, we all know referrals is the name of the game. Referrals cost us much less, and the client referred to us loves us already. Plus, by making the client ecstatic, we have a reason to charge those generous commissions we love—and we should.
Obvious Question–Not an Obvious Customer-Agent Service Match
You may the above question and answer are obvious. But, we should slow down and really think about it. Why? Because the gap between client expectations and general agent performance has, in the evaluation of the consumer, become a chasm. And, unless we can breach that gap, our commissions will keep sliding downward.
Time to Think ‘Outside In’
As you read this, stop yourself from thinking ‘inside out’ (What we like to think about ourselves). I, like you, have spent most of my adult working life as a Realtor. I sold hundreds of homes. I hired, trained, and coached thousands of agents. It’s painful for me, as it is for all of us, to look at ourselves from ‘the outside’. But, if we want to sustain our practices in the best way possible, we have to close that gap between what we think of ourselves and what consumers think of our practices. We have to think ‘outside in’ (look at ourselves from the consumer perspective).
Buyers Talk—Let’s Listen
Take a look at this survey of 2009 from the California Association of Realtors.
CAR asked buyers to rate the overall satisfaction level with their buyer’s agent. Wow! 4 out of 100! Now, I know that’s not true of you, but, it is what those thousands of buyers rated those thousands of agents they dealt with. Is 4 out of 100 good enough to get referrals? Is it good enough to sustain ‘generous’ commission levels? I don’t think so, do you?
Our Reputation as an Industry is Impacted By Every Agent’s Practice
Yes. I know most Realtors are independent contractors. We like to think we are not impacted by others’ practices. But, in truth, study after study shows we are. The consumer judges us generally by the level of practice of the agent with whom they have contact. Then, we ‘inherit’ that reputation—whether we earned it or not. And, when we have that less than sterling reputation, we have to dig ourselves out of the hole to prove we’re not ‘one of those’. It’s there, and we have to recognize it.
What do YOU Think?
What do you think the consumer wants that he/she’s not getting? In the next blog, I’ll show you what they said (what they wanted from buyers).