Real Estate Agent or Consultant?

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We’ve all seen the real estate agents that call themselves consultants rather than agents or salespeople. The reason is blatantly obvious, and a little cheesy, but there is actually a higher Real Estate Consultantlevel and deeper meaning than these real estate consultants may have ever considered.

Let’s face it, the title “salesman” has a bad connotation. People that are in sales squeamishly change their title to something like account executive, account rep., and the sales department has been rebranded as the business development team. Real estate agents would never call themselves salespersons on a business card, and to put their title as “real estate agent” strikes some agents as cold or generic. However, “consultant” is much more elegant. It just has a ring to it that that suggests a knowledgeable advisor.

Top producing agents don’t sell homes like most salespeople sell products. A home is an extremely dynamic and personal product, consumers already have in mind their needs. Their preferences surpass what they will ever tell their agent.

This is where the title “consultant” rises to more than just a better sounding title and becomes the true sense of the word. Good agents deliver high quality data to their clients and educate their clients so they can rapidly make a sound decision. They don’t push homes onto people like most salespeople push products. Facilitating home sales is a matching and information game.

Top agents do have the qualities of top salespeople because both personality types are often charming, persuasive, and carry a purpose. These qualities are just used differently.

Agents sell their brand and character, then they get down to business and perform the work when contracted. Salespeople sell a product and use their brand and character as reinforcement to make the sale.

All top agents make good salespeople, but not all top salespeople make good agents.

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What Real Estate and Dating Have in Common

You’d be surprised how similar real estate and dating are.

Real estate agents looks for clients like singles look for mates. There is no shortage of competition and not everyone is a right fit for each other.

The client/companion relationship is made through the same sales funnel. Plus,  finding real estate clients and finding companions depends on the same major principle…

Just about every single person can give a list of qualities they have that would make them a good companion. Singles tend to think about how unfortunate it is that there isn’t someone to enjoy all their great qualities.

A single person may see a desirable person that is involved with someone that isn’t as worthy of this person’s affection. This someone may not have the abundance of qualities that the single person has, or they may just not be a good person. However, somehow this someone won over the affection of a companion

Can’t the same scenario be applied in real estate? Can’t an agent be a better agent, offer more services, even be more knowledgeable than a busy agent but then not have business to show for it? Not having business is just like being single.

The first question the single agent must ask is: how the agents that are in client relationships got into those relationships to begin with?

Certainly many “committed” agents are good at what they do and deserve their clients. However, many “committed” agents are not deserving, which means that being a good agent does not mean you will get clients.

So what does?

The ability to get lots of dates is just like the ability to get lots of clients, and they both depend on one thing: Exposure

People who know a lot of people have more options. They are on the radar and have the opportunity to publicize what they are all about.

If the single person mopes at home about the injustice of all their amazing romantic qualities going to waste then they will perpetuate being single.

If the single person expands their exposure then they will meet more people, and eventually a match.

Exposure is the action step of your network. This means expand your networking and get exposure.

Your network doesn’t have to be close friends, or people from LeTip, or even people that know much about your personally. It can be a superficial connection where a large group of people know of you and what you are about.

Single people and agents need to get out the word and build their network. This means spend time with people that will introduce you to new people. Go to events and spend time in public settings. Be there so that people meet you and find out about you.

Networking has never been easier because you don’t even have to leave home to do much of it. Social media is an amazing free networking too. You can connect with people with similar interests at a much faster rate than you could in-person.

Build you network, get exposure, and participate. Do this and get clients (and dates too).

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Are You Asking for Business?

Balboa Real Estate networkingI recently attended a focus group for the Irvine Company where they had a discussion on commercial rental properties. The attendees were either senior level managers or owners of businesses that rent commercial space. We all talked through moderated conversations about improving commercial spaces while our comments were recorded through a two way mirror. The reason I bring this up is because the ability to network was a recurring topic that came up as something important to these executives.  Going further, one business owner explained that he went to every business in his building and introduced himself with his business card – which actually resulted in business for him. He also mentioned that he attends all the chamber meetings and networking events like LeTip. Even though what this person does to network is not creative or innovative, he has a tremendous advantage over competition because most people don’t even make an effort to network this much. I couldn’t help but to ask myself how many real estate agents I know that network just as much as this person – and agents are in a much more competitive industry. The answer: extremely few.

 

Networking is a very plain, fundamental business concept that just about everyone knows is a good thing to do. However, it is terribly neglected. Real estate agency is a business of relationships. This means you needs massive exposure to people to form these relationships and build your network. This is one of the reasons you will see bad agents get business and good agents don’t. Top producing real estate agents know a lot of people and they ask them for business.

 

Do a self-analysis on your networking. How often are you meeting new people? What are you doing that is expanding your network base? Remember that it’s different then marketing. Marketing is usually a one-way form of communication. Networking is more engaging, mutual introductions, and an exchange of words. Ask yourself who your target demographic is and think of ways that you can meet more of them.

To learn more about our true 100% commission plan – click here

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