In case you haven’t noticed, there’s a lot of negative feelings toward real estate agents these days.
Did you know that according to a nationwide survey by Harris Interactive, you are more likely to trust your mechanic than your real esate agent? The study revealed that 20% of people wouldn’t trust a real estate agent at all. Only 7% of people would trust a real estate agent to be truthful enough to give them the advice that is best for them. The only profession more maligned were stockbrokers.
Wow right? Well, actually, I’m sure you’re not that surprised.
There are many successful agents out there who have built their business around trust and honesty with their clients. I know there are agents out there that provide a high level of service to their clients at reasonable prices. So why do the majority of people feel real estate agents are not honest and don’t provide a high level of service considering the commissions they make. Are realtors just getting a bad rap?
If I was to oversimplify my personal list of little things agents could do everyday to overcome that reputation, it would read as follows:
- Answer your phone. Answer your phone. Answer your phone.
- Know what you’re talking about. If you don’t know, be honest about it. Educate yourself before you give an answer.
- Don’t pressure your clients to accept any deal. Inform them of the situation so they can make an educated choice.
- Don’t be the tough agent at closing, be the tough agent before closing. Make sure closings go smoothly and on time. You have very little leverage at the closing table but you have all sorts of wiggle room beforehand. Don’t waste it. You look like an idiot trying to save your client $100 at the closing table when you let thousands go free before the inspection deadline passed.
- Don’t offer legal advice when you don’t know what you’re talking about.
- Know exactly what constitutes loan fraud.
- Disclose up front if you have a personal interest in the property.
Anyone have anything to add?
There’s nothing worse than a realtor that lists your house and doesn’t keep you informed. At the least, contact your clients on a weekly basis, even if you don’t have any news.