Experience and results matter in any profession. Clients respect experience and want results. But experience and results are not the same and I suspect consumers prefer results to experience when it comes to home sales and purchases.
Who Wins the Client?
A professional with years of experience may not be that good at negotiation or closing sales. He or she may understand the home buying and selling process but may lack the communication and other skills to close a lot of deals. They may be good but not great. A relative novice may lack years’ experience but possess the skills to understand his or her clients’ needs and how to satisfy them. The newcomer may understand and harness new technology and become more efficient in getting results.
The race is not always to the swift but many times it is. Few turtles win the 100 yard dash in reality and many real estate deals, and clients, go to the one swift at getting results.
Specialized Knowledge over Experience
You would suspect that knowledge and experience go hand in hand. But not necessarily. Take the area of “green real estate”. It matters not that you have 20 years experience if you have none in understanding energy efficient housing. I suspect a young whipper snapper who understands the workings of a green development will be selling more homes than the older pro in no time, as more and more housing moves in that imminent direction. It reminds me of the new car or electronics salesperson– the one who makes the sale is usually the one who is able to understand and communicate the new technology. It is current, specialized knowledge that outstrips experience and allows the newcomer to make hay.
Show Me The Stats
In this time of transparency, consumers will demand proof that a real estate agent is qualified to sell their home based on their past sales results. No longer will real estate professionals be able to merely wave a license, a logo and a Realtor badge to get the listing gig. Consumers will ask real estate agents, “Show Me” why I should hire you beyond the number of places where you will advertise my property. “Show me” the sales stats— proof that your marketing works.
Marketing is Not Sales. Sales are Sales
I have suggested that perhaps agents will have to show their numbers and perhaps some statistical calculations will be applied to try to measure effectiveness and results. It may not matter much that you send the listing all over the world if you’ve priced it incorrectly and no one comes to see the home to make an offer. Maybe you don’t know how to stage a home so the visitors who do come don’t make any offers. An agent’s success is ultimately tied to the sale happening.
Today, I came across a press release from RealtyBaron announcing the launch of Agent Rank, an attempt to provide a numerical measure to an agents’ qualifications. While I do not think Agent Rank is the answer, it is evidence that we are moving in this direction. Real estate is a numbers game and those with the numbers usually win the game.
Do you think consumers will want real estate agents to reveal their sales statistics? Will agents be willing to do it?
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