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Are You More Honest Than A Used Car Salesman?

In these instances, double down — in your expertise, in your data, on you. Be a part of us Aug. 8-10 at Inman Join Las Vegas to lean into the shift and be taught from the very best. Get your ticket now for the very best value.

One in every of my brokers got here to me not too long ago with a query from a shopper. He requested her, “What’s the distinction between an actual property agent and a used automobile salesman?”

Now, that appears like the start of a (most likely upsetting) joke, however her shopper’s an easy man, and he sincerely wished to know. And if you happen to have a look at the info round probably the most and least trusted professions, amongst those that price our trustworthiness “common,” we’re not that far aside: 44.9 % of respondents see used automobile salespeople as having common trustworthiness, versus 56.12 % who see actual property brokers that method.

We fare a little bit higher on the ends of the spectrum. Extra individuals see us as excessive or very excessive on the trustworthiness scale and fewer see us as low or very low, however there’s definitely numerous room for enchancment.

There’s a stage of professionalism that some actual property brokers don’t maintain themselves to. In the actual property business, some individuals see themselves as salespeople and get targeted on the fee — what I wish to name getting “fee breath” and chasing that greenback. 

That’s totally different from appearing as a trusted fiduciary and fascinated with what’s in the very best curiosity of the shopper. The extent of professionalism you deliver to the desk units you aside, and it helps outline you.

If you need to evaluate your self to a automobile salesman, not less than be a high-end automobile salesman, like a BMW, Mercedes or Lamborghini — somebody who’s promoting the exotics at the next value level. They’re not as apprehensive concerning the fee as the standard used automobile salesman.

All joking apart, it is a widespread analogy, and I’m not shocked that this shopper requested this query. Simply give it some thought: Research present that we’ve got related ranges of belief, but we’re promoting any individual’s home or serving to somebody purchase a home.

That ought to give us all pause.

Setting the expectation and establishing a stage of service

So why does that notion persist, and the way can we overcome it? I feel we begin by defining ourselves otherwise proper out of the gate, setting the extent of expectation and repair that we’re offering proper up entrance with that first shopper communication.

We’re by no means going to have the ability to change unfavorable perceptions about our business until all of us begin altering how we function, how we act, how we view ourselves. The unfavorable notion is sort of a mirrored image of the self-perception of some brokers.

I’m a giant believer in valuing your personal time and behaving in a very skilled method. 

When my son isn’t feeling properly, I’ve to name the physician at 8:30 a.m. to get an appointment for the day. If I don’t, the physician will guide up. The physician’s workplace gained’t keep open late so we will get in, they usually’re not going to hurry in early to look in his ears.

Once you’re leaping by hoops to fulfill a shopper at 7:30 p.m. to point out them a home quarter-hour after they known as you, or dropping all the things you’re doing each time they let you know to, that’s a little bit extra used automobile salesman than what your physician, your lawyer or one other skilled would do.

We are able to’t, as people, change all the stigmas that exist round our business. It’s on the market that brokers are commission-hungry, that they receives a commission an excessive amount of and so forth. However you possibly can change the notion on a person foundation by the way in which you conduct your self and the extent of service that you simply present to your shoppers from Day 1.

Data-gathering vs. relationship-building

When somebody walks right into a automobile dealership or onto a used automobile lot, the data they provide is all concerning the nuts and bolts of the kind of automobile they’re searching for and the cash they’ve obtainable for his or her buy. If that’s the way in which you’re approaching the preliminary purchaser or vendor assembly, you’re appearing like a automobile salesman.

Our job is to create a relationship and consider the standards round their targets to find out how we will help that shopper. As an alternative of trying to qualify them for a mortgage, we’re serving to to find out how that shopper matches into the huge spectrum of the actual property world. Our job is to information, to not promote.

The home (condominium, co-op or lot) will promote itself as soon as we current it, so long as we all know the shopper and their wants.

That additionally means we’re not right here to “soup up” that property. We’re right here to make sure that patrons and sellers are making the proper choices, giving them the data and the worth they should make these choices.

We’re not simply right here for the numbers as a result of we all know that if we deal with them proper, these shoppers will come again later. They’re going to have kids; they’re going to have sisters and nieces and mates who they’ll wish to discuss with us. We’re going to construct these relationships to construct that long-term referral community.

So, we’re not application-based. We’re criteria- and relationship-based. And that’s one factor that I feel even our shoppers neglect about. It’s extra than simply the sale.

Let me say that once more: It’s extra than simply the sale.

So what’s (or must be) the distinction between a automobile salesperson and an actual property agent? The one factor they’ll provide their buyer that has worth is the automobile. We’re providing a lifetime of information and expertise, and that’s what separates us. 

Like a lot of you, I take a lot pleasure in my work, and I worth the friendships and relationships that I develop with each one among my shoppers. Do not forget that all the things you and I do displays on each different agent and dealer within the business. It’s price exhibiting up at our greatest each single day as a result of that enables us to make our little nook of the actual property world higher.