Sep. 29, 2005 - Tough Listing is Tough Love
Tough Listing is Tough Love
By Jerry Rossi
The day of the real estate agent riding in like the Calvary with a satchel of knowledge saving the day for sellers is gone, along with 49 cents a gallon gas, airmail, and the 1900s. Real estate agents of yore were the purveyors of knowledge and thats what the clients paid for. The adage Knowledge is Power just isnt true anymore. Knowledge is instantly everywhere. If you can think of it, you can Google it, as is done millions of times a second!
The Internet has changed the landscape of real estate like a bulldozer blades a lot. Within this change, some are designing the foundation, some are driving the dozer, some are watching in awe, and the balance are saying, That wont work in our area.
In that we are no longer the source of knowledge, who are we? We are still agents and brokers; however, weve changed hats from a size too big to one that fits just right. Yes you heard correct, this new hat is a good thing. We now wear the hat of Advisor. The Advisor hat has worked for quite some time for successful associates (see the success expectation below) and perhaps this is what has made them successful. The balance of the real estate community is now forced to wear this hat or they will be forced out.
Whenever change happens in our industry, it acts as magnesia of sorts by cleaning out those who are stuck in old ways, negative associates and brokers who find difficulty in justifying their fee, those who fear change, and finally those who got into real estate because its easy, fast money. If you believe that its easy, fast money, Ive got some swamp land to show you. This change and industry cleansing has caused quite a stir in the media, as do most things negative. I recall past hurdles of; declining property values, 19% interest rates, lead paint, asbestos, and radon. But as in all changing industries, the cream will rise to the top.
What defines a Real Estate Advisor in the listing agent role? Based on my thirty-four years of experience, countless interviews, and shadowing of successful associates, I submit the following:
Traits of an Efficacious Listing Advisor
Confident
Im not just talking positive attitude here, although thats part of it. Im talking root base confidence that its all going to work out. Read Rosa Beth Moss Cantors book, Confidence.
Success Expectation
Too many people feel that success is the exception, that success is the other guy, not them. If one wishes for success but doesnt expect to get it, tada theyre right! This is America; success is the norm for all who believe and are willing to learn and work for it. To define success, lets get some help from Michael Vance, author, intellectual, raconteur, and creator of Out of the Box Thinking. He says, Success is the building and maintaining of Spiritual, Physical, Philosophical, Psychological, and Financial Goals.
Future Visual
Successful Real Estate Advisors must look to the future (up to your right per NLP) and see all that they, and their clients, desire. I listen to many people in various professions who drag the anchor of, If only Id have… How sad to live in a past of perceived wrong choices and mistakes. We all have made bad choices and mistakes, but thats history. Learn from them but dont drag them wherever you go! Often people who are not dragging an anchor are pushing the boat of What if tomorrow… on a muddy shoal. The future is a mystery. All we know is that someday well die and go on to wherever our beliefs take us. We can plan for the future, we can set our course, but worrying about it keeps us from doing what we can with what we have right now. As Deepak Chopra in his book, 7 Spiritual Laws of Success, says, The past is history, the future is a mystery, the NOW is a gift, thats why they call it the present.
Motivated and Motivating
I recently asked a group of real estate sales managers, Are you motivating or de-motivating? Most said, Sometimes, wrong answer. If you believe that you are de-motivating at all, then you are perceived as not motivating. This I know because I motivate for a living. I bill myself as an Edutainer, as Motivational Speaker has a fluff connotation, but name a good speaker whos not motivating. And to be motivating, one must choose to be motivated.
Information Omnivore
Advisors are current on all local, state, and national guidelines and laws. They monitor the market from many angles and solicit feedback within forums of other advisors. Blogs, List Serves (RealTalk and ePROTalk are two of the best), Seminars, Conventions, and Magazines all provide up-to-the minute industry applicable information. Advisors not only participate, they contribute.
High Values
Advisors dont just learn ethics in class. Its a way of life. Snake Oil, Robert Preston selling 76 trombones, swamp land, and wouldnt you, couldnt you, dont you agree? dialogue doesnt cut it anymore.
Self-Propelled
Advisors dont need hand holding, they do it themselves as real entrepreneurs. Yes, they work for great companies with wonderful support and training, but once out the door, theyre self-propelled all the way.
Great Listeners
They listen so intently that they have the ability to repeat what was said to the senders approval. Listening is a learned skill and must be practiced.
Truth Tellers
Mr. and Mrs. Seller, Im not here to tell you what you want to hear; Im here to tell you what you need to hear. Too often, agents tell sellers what they want to hear because they (the agents) want the listing! For instance, many over-price their estimate of value turning the situation into a listing, bidding war to beat out the competition, waiting until the last minute to bring up price. Advisors tell sellers what they need to hear and talk price first stating, Based on my market knowledge, experience, and the Right Price Analysis Ive prepared for you, the price point on your home is $346,900 (the average price their RPA indicates).
Real Estate Advisors are matter of fact about price point, home, and market condition. This includes pet odors, cigarette smoke, and wood rot. You must look at the home with the eye of todays most discerning buyer and then advise the sellers on what they need to do to bring their property to market standards in order to sell at the highest price in the shortest amount of time with the least inconvenience to them. This is Tough Listing, Tough Love.
Other truths Ive heard Advisors say are:
During the term of the listing, the 46 associates with my office may never show your property. Its the truth, isnt it?
Real estate agents dont sell houses, they simply provide a window of opportunity though which buyers can look, then facilitate the process of purchase.
Agents dont price houses, the market prices houses.
Discount brokers are an important part of todays business, especially for those who cannot afford premium service.
Strategically Planned
Associates dont plan to fail, they fail to plan. Advisors create personal strategic life plans as they would certainly advise others to do. Life plans include prioritized values, five sense-surround-sound goals, time dated strategies, and tasks. For coaching information on building your plan, go to http://ASPIRE.RossiSpeaks.com.
Techno Competent
Advisors are skilled in email communication, Internet marketing, transaction and database management. This is not a request of real estate professionals, its a demand. Because of this demand, NAR has underwritten the e-PRO Certification; an on-line course that is taught to all levels of competency at the students pace and time. I personally did most of my work early morning in my bathrobe with my mug of coffee. To find out more about e-PRO, go to http://ePRO.RossiSpeaks.com.
Compelling
All the above traits are compelling but theyre not enough. A personal compelling point of difference must be exhibited. Yes, this is marketing. One can be the best Real Estate Advisor in the world, but if no one knows it… Remember that referrals are the best, least expensive and most effective form of business. Advisors create strong zones of comfort resulting in lifelong rapport, truly a compelling point of difference.
Ive outlined what I believe to be the threads that run through successful Real Estate Advisors; Confident, Success Expectation, Future Visual, Motivated and Motivating, Information Omnivores, High Values, Self-Propelled, Great Listeners, Truth Tellers, Strategically Planned, Techno Competent, and Compelling. Stand tall in this wind of change, be flexible as the oak, and grow from the knowledge that you have all of these traits. All you have to do is activate them now.
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