No matter what business you’re in, respect and reputation are paramount. In the real estate game, they’re what separate the ‘haves’ from the ‘have-not’s.’ The ‘top-producers,’ from the ‘flop-producers.’ You get the picture.
And these days, it’s not easy for any realtor or mortgage broker to pin-point or target the next economic trend, without keeping a constant ear-to-the-ground. Or is it? Take a closer look, and the best of the best seem to position themselves for long-term success. And their secret is easier than you think.
In fact, a recent article posted on RIS Media, points out the strongest realtors and brokers are becoming more than just sales people – they’re becoming trusted, reliable, astute, advisors. The reason? They focus on the fundamentals. But it’s their vigilance in pursuing and understanding these fundamentals that truly pays big dividends – especially for the consumer.
For instance, in order to know where you’re going, you need to understand where you’ve been. But you also need to separate fact from fiction, truthful information from misinformation, and so on. And that means understanding the story behind the story.
The article wisely points out the majority of consumers base their buying decisions (or lack thereof) on what’s going on in the news and media. But so often those stories are taken at face-value, by a ‘follow-the-herd’ mentality. And unless someone’s willing to peel back the layers of the onion, the actual facts of the story seem to get lost in translation. The result is things, then, get blown out of proportion, consumers panic (or worse they get careless) and real estate takes a hit.
The top ‘real’ experts continually monitor the future by being aware of what worked (and what didn’t) in the past. By better understanding why these factors contribute to the state of any given real estate market, at that time, these realtors and mortgage brokers immediately become better, more efficient, prognosticators when it comes to the future.
The second part of their secret is staying on top of current government programs, incentives, policies and procedures. From updated tax breaks, to breaking news on lending guidelines. From federal incentives, to the latest stimulus packages, good realtors and brokers become great, when they’re the authority on what’s going on financially right now – as well as properly preparing buyers for what’s waiting in the wings. The best experts are able to keep their clients informed, with things like market updates, blog entries, website commentaries, links to the latest statistics and insight into the latest government initiatives. And they’re able to explain why and how these politics will affect the consumer.
Thirdly, the pros simply know their customers. They tell them why they should buy or why they shouldn’t. They counsel them on what makes sense versus what might be a leap of faith. They separate first-time, move-up, vacation, and revenue buyers. And they provide phenomenal, timely and money-saving advice that ensures not only repeat business, but also clearly defined leadership, respect, admiration and long-term success.
It’s as simple as this: the top real estate agents and the top mortgage brokers diligently focus on history, politics and truly knowing their customers. And in these dynamically diverse economic times, the ones who position themselves based on the above criteria, stand to gain the most. And so will the consumers who seek them out.
What do you think? Send me your thoughts.
Comments
Powered by Facebook Comments
By Pjrowbot, November 6, 2009 @ 11:10 pm
Here’s a thought. If you want a ‘real’ expert on the economy go to an economist, not a real estate agent.
I don’t know a LOT of economists got it wrong in the last 18 months to 2 years with respect to the collapse in the economy. The big problem is whether there is a “new normal” and therefore classic theories from economist text books may have to be re-thought in some cases
- Greg