The Agent-Centric Model of Doing Business:
How many times have we seen this one? An agent shows up for a listing presentation... and all they do is talk about themselves for two solid hours. It’s a long winded soapbox oratory full of spirited hyperbole about why the agent is the best thing since sliced bread. The whole boastful barrage could be summed up in 8 short words: “List with me because I’m the best.”
What nonsense. We call this the Agent-Centric model of doing real estate business. It’s all about the Agent. It’s easy to know what it is when one sees it. The agent has one mouth and two ears, but the listening conduits are superfluous flappage; it’s the mouth that roars. The client usually just sits there perfunctorily nodding their head from time to time, seldomley getting a word in or completing a sentence... like a bubble-head client doll.
The agent-centric business model is also easy to recognize when one hears it. There a few common phrases, like boxes to check, that must be repeated to affirm that one is the best:
“I’m Number One”:
This is our favorite. Lets see, in our market there are at least three different brokerages that claim to be number one. Each has a different take on the market to support their position. We call this the “I’m-number-one-because-I-sell more-homes-on-odd-numbered-Tuesdays-after-4:30pm- than-you-do” rationale. We see the same thing at the agent level as well, perhaps more so. There are at least a half dozen or more self-claimed number-one agents in our market. All too have their own take to support their position... though Tuesday afternoons we think are taken.
“I Sell More Houses than Anybody Else”:
We really like this one too. But what gets us, and this is coming up in a post tomorrow, is only a Listing Agent can legally claim they “Sold” a house. That’s true. Yet, about 85 to 90% of the time, the Buyer has their own agent... that is not the Listing Agent. Legally though, a Buyer’s agent can only claim “Sold in cooperation with another Broker.” This is nuance, we understand, but what inspires the most trust; the agent who tells the client they “Sold” everything - when 90% if the time another agent brought the Buyer, or the agent who tells the client the truth about what “Sold” actually means?
“I Always Exceed My Clients Expectations”:
This is also a good one. What occurs to us is how can a client’s expectations be exceeded if the agent doesn’t know what they are? Mr. Agent-Centric rarely if ever uses an expectation check list. That requires asking a lot of questions, and sometimes probing about a client’s real wants and needs. That takes a lot of listening, and if the agent is using their mouth far more than their ears, how is he ever going to know what expectations to exceed?
An Old Industry Practice:
The measurement of success in the real estate industry has always been about production -- the number of properties sold, and for how much dollar volume. Years ago, an older model for doing real estate was centered on the Broker. This “broker-centric” model of doing business was characterized by the market position of “come to me because my company sells more than anybody else.”
For the last 20 years or so, the real estate industry has focused more on the “Agent” rather than the Broker. This agent-centric model of doing business is characterized by “come to me because I am the best because I sell more than anybody else.”
For both of these archaic business models, all industry recognition is based on production. There are no awards for service or the inspiration of client trust. Service and customer satisfaction has never been part of any industry award or recognition. Perhaps only rewarding production made sense in the past, but as our industry matures and becomes consistent with the wants and needs of today’s world, customer satisfaction is becoming an important and valuable component of our measurement mix. Hopefully this is at the expense of agent-egocentricity.
There is a better way of doing business!
The Client-Centric Model of Real Estate Practice:
This is the better way of real estate practice. The Client, not the broker, nor the agent, is the picture. Everything about the client is first... in word and in thought. Not incidentally, or coincidentally, but most importantly it all makes sense. Clients are far more interested their own transaction, rather than somebody else’s house that sold before... and how agent sales-breath did it. Today’s consumer is quality driven, not quantity driven.
There are a few telltale signs of the Client-Centric real estate agent. Here’s some things to look for:
The Agent Listens:
Does the Agent use the ears more than the mouth?
Expectations Analysis:
Does the agent use an expectation check list? Does he find out things that are important to you that you hadn’t thought of yet? Does the agent fundamentally understand your needs and your time frame?
Personality and Your House:
Does the agent ask why you bought your house in the first place? Does the agent want to know what you love about it most? We think both are important because these are the reasons why somebody is going to buy it again.
Personal Stories:
Does the agent get you to talk about the good things that happened in your home? We think good stories bespeak a good place. Does the agent ask to get the children involved? A list in a child’s hand about why they like their home is always something to behold.
Your Best Interests:
Does the agent impress you that he cares? Or is that subordinate to personal sales production rattle? One can always tell; which of the two subjects gets the most airtime?
Teamwork:
Does the agent seem like a team player? The successful selling of a house always comes from effective teamwork... between the Seller and the Listing Agent, and between the Buyer and the Buyer’s Agent, and from both Agents working together to find a pleasant, acceptable outcome for all involved.
The Listing Presentation - The Difference between talking about ME and listening to YOU!
61 comments • Gary Bolen (CRS) Lake Tahoe Real Estate Information • July 23 2007 06:15PMComments
This blog does not allow anonymous comments
Post © 2009 Gary Bolen (CRS) Lake Tahoe Real Estate Information (McCall Realty). Design © 2009 ActiveRain Corp.
Logos and service marks owned by copyright holder.
Gary, you got it !! When I see sound bites on cards or ad's "number 1 Producer", Million dollar seller, my skin crawls.
What does that say ? I don't need you.
Yes, ears before mouth with clients. Excellent post.
Gary...
I love it and I am glad to see it has been featured.
One of our company mottos is...
"Real Estate is not about money...It's about people".
I guess that puts us on chart number two.
Can I boost about that to one of our Seller's? LOL.
TLW...ROAR!
Absolutely right on target. In my opinion, personal promotion went our when the Internet came in. Post cards could present an agent in a blurb. A newsletter could present an agent in a paragraph beside a recipe.
With the Internet, everything an agent has to say has already been read by the consumer. Now, if you're luck enough to meet a prospective client on the phone or in person, you'd better let them do the talking about their needs.
If the agent must talk, it better be about the sellers house or the house the buyer might want. It really is all about the consumer.
I talk a lot, but it's never about me. It's about them or real estate. In fact, I never stop talking until they buy a home, but it's never about me.
Wow, this is some great stuff. I believe it's all about listining to what the client wants and making it happen. Most don't want to know about you. They want to know that their needs are going to be met. They want to feel important.
What a great and informative post! It's truly important to focus on the client, and actually listen to their needs instead of always self-promoting.
The entire "Top Producer", "Million dollar producer" sounds so arrogant. Some agents love to promote this way. But it seems so out of touch with the client.
Good post.
EXCELLENT POST.... you hit that one perfect..... well done and great presentation
Wonderful post, thank you!
I love this one: "I sell a house every three days!" Yeah, sure...you and your team of 8 agents, for which your name is the only one on the sign, even though one of your other agents (buying agent or listing agent) is the one who actually "sold" the home! UGH!
Richard/Gary, you are HIRED!!!
What a wonderful post for sellers to have as a reference for what to expect from their realtor during a listing presentation. Excellent points!
Finally, a FEATURED POST! CONGRATULATIONS!!! It's about time!!!!
Well done. It's always a fine line to walk withing talking enough about yourself, but also listening to what your client is really telling you.
Excellent post. Good read. Thanks for reminding us it's the client that makes our business.
"I'm-number-one-because-I-sell more-homes-on-odd-numbered-Tuesdays-after-4:30pm- than-you-do"
Gary - ROFL! When I got into the business 5 years ago I was amazed to see seven "Number Ones" in the area I lived in. Excellent and insightful post!
Wow.....fabulous post. What else can I say?
I just had a seller agree to list with me because I was the only agent (out of 4) who showed an interest in HER, not just the HOUSE. Amazing!
Again...what a great post!
Wow! This has been our first featured post and we are most grateful. We already recognize a lot of you that have commented by name and AR reputation. It's very cool.
Following a post from TLW a few weeks ago about reciprocity, we've been going to each of your blogs and commenting there. We've still got a few more of these to do.
And Rich Jacobson, one of our AR mentors, is kind and attentive enough to check that we're following up here as well.
I have another post we like about what sold really means, which is at the note stage, but that will come tomorrow... because all of you that have helped us by commenting here come first:
Joeann - we were hoping that we got it clear... and you were first to tell us so. Thanks.
Michele C. - First time we've heard "gold star" and we like the sound of it. Much appreciated.
Rich - Well what can we say? Thank you for taking the time to be so helpful.
Missy - It makes our skin crawl too. Everytime.
Joe - We do a seminar every quarter. It's "training" for the public. There's way too much preying on agent egos. Thanks.
TLW - Still love that hat! And the Bag!
Margaret - We used a hammer. And tried to pound them carefully.
Bryant - Did you sell a house last weekend? Or have you had to update the video?
Pamela - Thanks for the nickel... and we're going to send one back.
Eric - We think that many real stars actually listen more than they talk... but don't tell anybody.
Lenn - Thanks for taking your time to comment. The net gives us a chance to "pre-inform", as we better do as well as we possibly can with it. That's what you do in your market.
Barbara - Thanks. We're listening... though sometimes it's hard. Excitement sometimes closes our ears.
Mike - Information is king. Appreciate your comment.
Bob & Carolin - Don't you know that everybody in every market is the Top Producer? How that happens is a real head scratcher. Thanks.
Desiree - Don't get to hear perfect much. It's got a good sound. Much appreciated.
Tim - Your "Nuts" reference got us. Yep, takes a track record too, and we think the more secure one is with it, the more one's ears come into play.
Kelly - Doesn't everybody sell a house every three days? Or is it smoke and mirrors we have to endure?
Evelina - Me, me and only me! Kinda makes one want to run, doesn't it?
Ryan - They trust us quicker if we just take the time to let them talk. Thanks for taking the time to comment.
Michael - Best training we know of in the country is The Group Inc, Ft. Collins, CO. Check it out, tghey have the Ninja III training program, and this is where a lot of the CRS teachers confab too.
Irina - You've been so helpful and supportive. Best to our other AR mentor.
Scott - Good music often has that note that you can't hear in it. All of your comments here help reinforce us to talk less too. Much appreciated.
Todd & Danielle - It's funny how we can hear better than when we're talking. Who whould have ever guessed? Thanks for taking the time to comment.
Judi - You're reminding us too. Thanks.
Kevin - Thanks for the bookmark and the nickel. Loved seeing the photo of the hitchhiking ciccone on your site, and congrats on your recent blog success. I think we've already subscribed too. If not, done! Thanks.
Gary - All we have to do is earn their trust. Sometimes its so easy, and others so fleeting.
Tony - Thanks for repeating the tuesday rationale. We actually say that in listing appointments... and in our seminars too. It always gets a good laugh... because as absurd as it is, it's so true. Cheers...
Brad - We're all new in a way, because there is always something for us to learn. Hang in there.
Katie - All we got to do is change it to a YOU world, and it'll be much better.
Michelle N. - We all like to be seen and heard, clients, we continue to learn, especially.
Gary...
Take your time. Reciprocity can take a few days on featured posts.
You're doing great. Don't feel obligated to reply either way to this comment.
I just came in to encourage you :)
TLW...ROAR!
Gary,
Excellent post!!! Giving you a 5.....Keep up the good work. We sometimes forget it's about the client and not about US. Looking forward to reading your future posts.
TLW - Thanks again for your encouragement.
Harold - We like it. We like it. We're grateful and appreciative.
Dionne - Regards back to you. Thanks for your inspiriation.
Karen - Hope the bookmark reads well for you. Thanks.
Rebecca - Yes, but when we write about it, and you comment, it reminds us all over again. Taking the unnecessary ME out of the picture is always a work in progress.
Don - Much appreciated. We did the graphs in illustrator.
Rich - We're working on it. Thanks again for your continuing help.
Outstanding Post... Reminds me of the the Platinum Rule... Treat others as THEY want to be treated.
I find this post to absolutely fabulous, particularly for someone just starting in the business. I am printing this up and taping it to my "ideas" board, just so I can keep my mind on what listings are really about.
Thanks!
Sharon - You've got something right now on your blog we couldn't agree me with... about how agents should treat each other. It's great stuff. Thanks for commenting here.
Debbie - You are too kind. It means a lot to us... and we are most thankful.
Irene - What makes us happy is to hear that we've been able to be helpful. Thanks a ton.
Monique - You're most welcome. Thank you for taking the time to connect with us.
Randy - You're absolutely right, we are obligated, and when done in good spirit, it's also fun.
This post should be required reading for every newly-licensed agent. Thanks for the article.
Thanks for sharing this article, and bringing us back to our senses.
Gary,
Great post! Reminds me of one of the most successful ad campaigns of all times for Avis Car Rental.
“We’re #2 so we try harder.”
: )
Good stuff! I have worked with many agents with listing presentations and this is a big issue. Many agents bore their clients to death by talking about themselves. A lot has changed over the years and so has the listing presentation. If you get a chance please check out http://prelistpackage.com They have a lot of useful tools, templates, tips and scripts to make your job much easier during the listing presentation. Thanks for sharing!