Real Estate Agent's Role in an Internet Based Market
Here’s a question for you -– a fundamental question at the very essence of why you exist as a real estate agent:
What is your value to buyers and sellers?
Your answer is the only -– and I do mean only -– reason you will either succeed or fail in real estate today. With or without the Internet. With or without a cell phone that snaps pictures. With or without a Blackberry.
All of these technology tools mean absolutely nothing without a first-class answer to that question.
Remember when the Internet took the stage in the mid-90s? Soothsayers predicted agents wouldn’t survive. Well, here we are a dozen years later, and now even more agents are making a fine living in the industry.
Because you bring value. One of the great truths of our free enterprise system is that we get rewarded when we add value in delivering wants and needs.
Remember this: The brokers and agents who are making the most money are the ones who are really good at communicating and exerting their value -– communicating with zeal and clarity. If you’re not communicating your value in your listing presentations and other marketing tools, you’re leaving your potential –- and a lot of money -– on the table.
And the agents just barely getting by -– well, they don’t understand their value, and if they don’t understand it, they certainly can’t communicate it.
On the surface, the soothsayers appeared to have a decent argument. Yes, the Internet has put much more information into consumers’ hands. We should see that, accept it and realize the Internet is not going away. In fact, I’m sure it will continue to grow and become even more relevant.
But with that said, I plainly see brokers and agents still bringing hefty amounts of value to real estate deals.
But if consumers have access to the same information as brokers and agents, what is the value?
Write these down, post on your bathroom mirror and read them every morning.
- Up-to-the minute information. Anyone who has ever surfed the web knows plenty of information out there is out of date. You are at the center of it all and know the very latest events in the market.
- Detailed market knowledge. Consider the classes and the continuing education you’ve taken, and all the market specifics you’ve learned -– not to mention you’re track record and experience of actually selling homes. And don’t forget all your contacts in your database. Plus, you have knowledge of your farm area -- zoning ordinances, school standings, home price history, etc. Add it up and it comes to knowledge that saves your clients big bucks.
- Negotiation skills. When buyers and sellers’ intentions get serious, the only thing that closes the deal is competent negotiation. It’s what you do. It’s what you signed up for. And it’s what you’re good at. Selling real estate comes down to how well you overcome objections.
They all add up to professionalism. You’re a pro. A businessperson. The CEO of your own company. And you bring value to real estate. Don’t forget it.
The Internet is not a threat. In fact, it and other technologies are tools you can’t afford to ignore. It all helps facilitate the transaction and you’re at the helm, steering the ship. There’s clear proof technology is on your side.
NAR has even found that agents who use the Internet make on average $22,000 more a year than those who don’t. That’s just one of many facts you should know about how real estate and the Internet work together. I have posted a conglomeration of statistics on this very subject on my web site for you to review,. Do yourself a favor, and give it a read over you will be amazed at what you see.
But just remember, at the root of it all is your value. Know it. Embrace it. And communicate it.
Best of luck to you!
(Bob Corcoran is a nationally recognized speaker who is founder and president of Corcoran Consulting and Coaching, an international consulting and coaching company that specializes in performance coaching, and the implementation of sound business systems into the broker’s or agent’s existing practice. You can reach him at 800/957-8353 or Sign up for his free “Tip of the Week.)
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