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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People want results and are pleased when experience accompanys it. This is the difference in a part time and full time agent. A full time agent is on top of the local market and availability and comps and a part time is not due to absence. Results come from being actively involved in a day to day basis.
You may have difficulty obtaining accurate numbers. How many times have we gone to show a home that is listed as 4 bedrooms and we find out that there are only 3 legit bedrooms.
Yes, RE Web Designer, good point. I would want to know who are the part-timers.
True Mack, folks can always fudge the numbers but when things are written down, they think twice about how much fudge to apply. Maybe it’s just me, but I always ask about a person’s experience.
WRONG, REWeb Designer & Mr. Ferrara– I am a dual career, not a part-timer. I work just as hard at both jobs. I don’t over extend myself with taking on clients I can’t give the best service. My first job is in the legal profession, I take writing contracts very seriously and the is my specialty. I may not be available to ride around in the caravan on Tuesdays, but there are other ways to be on top of your market— reading and keeping up with new listings in my farm area, etc. I may have less work than a full time agent, but at the end of the day I perform my job as a realtor with high integrity and excellent customer service.
The realtor field is the only field where I have experienced such harsh treatment of dual career agents. In the the legal field, a part time attorney gets the same respect as a full timer. Plus, it would never be questioned if the part time attorney was up to date on his/her specific area of law.
As for Agent Rate, I don’t agree that sales should be considered. However, experience and past client evaluation are a must.
It seems to me that finding a good experienced agent is not a new topic. There are however, new websites that need to push their Internet rating system. JMHO.
I will never win the numbers game and don’t care to try. I know agents who out sell my by a large amount, but when it comes to being an agent- a fiduciary - they don’t even know the word.
Results are good experience and results the winning combo and thats what people look for.
Working part time I’m sorry doesn’t mean you don’t do your best while your there but we all know real estate is 24/7 and say you are a realtor from 9-2 and lawyer 2-7. It’s the day before closing and they contact you at 3:00 needing items and your not there and closing is at 9:00 am. I want the realtor that is available to handle calls and get it done. It not the ability to do it it’s the time to do it. Same way if I’m in jail I want the lawyer who is there to represent me when I need it and my court case was at 10:00.
Not saying you can’t have two jobs but if you were choosing might not be a first person choice. Were an instant society and we want telephone calls and emails answered right away. I just see a time conflict. Just my thought!
People want results. They expect experience but it is there job to find the right person to offer both. In today’s market results may be the driving force but experience may get it done quicker.
Experience does not always yield results. Results come from the ability of the real estate agent to communicate meaningful information. How often do we find incorrect information on an MLS listing? Of course, it will vary by local board. Yes, there are real estate agents that transact more than I do, but the quality of their work sometimes really lacks quality. I have experienced situations where an agent did not read the sales contract and ended up purchasing a spa, due to a lack of attentiveness to both documentation supplied to both myself and my client. The agent was more experienced than myself and his results are superior to mine.