In these instances, double down — in your abilities, in your data, on you. Be part of us Aug. 8-10 at Inman Join Las Vegas to lean into the shift and study from one of the best. Get your ticket now for one of the best worth.

One in every of my brokers got here to me not too long ago with a query from a shopper. He requested her, “What’s the distinction between an actual property agent and a used automotive salesman?”

Now, that seems like the start of a (most likely upsetting) joke, however her shopper’s an easy man, and he sincerely wished to know. And when you take a look at the information round essentially the most and least trusted professions, amongst those that price our trustworthiness “common,” we’re not that far aside: 44.9 p.c of respondents see used automotive salespeople as having common trustworthiness, versus 56.12 p.c who see actual property brokers that method.

We fare somewhat 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 actually plenty of room for enchancment.

There’s a degree of professionalism that some actual property brokers don’t maintain themselves to. In the true property business, some individuals see themselves as salespeople and get targeted on the fee — what I wish to name getting “fee breath” and chasing that greenback. 

That’s totally different from appearing as a trusted fiduciary and fascinated by what’s in one of the best curiosity of the client. The extent of professionalism you convey to the desk units you aside, and it helps outline you.

If you must evaluate your self to a automotive salesman, a minimum of be a high-end automotive salesman, like a BMW, Mercedes or Lamborghini — somebody who’s promoting the exotics at the next worth level. They’re not as frightened in regards to the fee as the everyday used automotive salesman.

All joking apart, this can be a frequent analogy, and I’m not stunned that this shopper requested this query. Simply give it some thought: Research present that now we have comparable ranges of belief, but we’re promoting any individual’s home or serving to somebody purchase a home.

That ought to give us all pause.

Setting the expectation and establishing a degree of service

So why does that notion persist, and the way can we overcome it? I feel we begin by defining ourselves in a different way 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 unfavourable perceptions about our business except all of us begin altering how we function, how we act, how we view ourselves. The unfavourable 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 e book up. The physician’s workplace received’t keep open late so we are able to get in, they usually’re not going to hurry in early to look in his ears.

While you’re leaping by means of hoops to satisfy a shopper at 7:30 p.m. to point out them a home quarter-hour after they known as you, or dropping all the pieces you’re doing each time they let you know to, that’s somewhat extra used automotive salesman than what your physician, your legal professional or one other skilled would do.

We are able to’t, as people, change all the stigmas that exist round our business. It’s on the market that brokers are commission-hungry, that they receives a commission an excessive amount of and so forth. However you may change the notion on a person foundation by the way in which you conduct your self and the extent of service that you just present to your shoppers from Day 1.

Data-gathering vs. relationship-building

When somebody walks right into a automotive dealership or onto a used automotive lot, the knowledge they offer is all in regards to the nuts and bolts of the kind of automotive they’re searching for and the cash they’ve out there for his or her buy. If that’s the way in which you’re approaching the preliminary purchaser or vendor assembly, you’re appearing like a automotive salesman.

Our job is to create a relationship and consider the standards round their targets to find out how we can assist 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 (rental, 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 suitable selections, giving them the data 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 shoppers will come again later. They’re going to have youngsters; they’re going to have sisters and nieces and pals 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 feel even our shoppers overlook 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 needs to be) the distinction between a automotive salesperson and an actual property agent? The one factor they are going to supply their buyer that has worth is the automotive. We’re providing a lifetime of data and expertise, and that’s what separates us. 

Like a lot of you, I take a lot satisfaction in my work, and I worth the friendships and relationships that I develop with every considered one of my shoppers. Keep in mind that all the pieces you and I do displays on each different agent and dealer within the business. It’s price exhibiting up at our greatest each single day as a result of that permits us to make our little nook of the true property world higher.