It would be hard to debate the fact that the basic functions of
all real estate agents are basically the same. Yes, some have
different roles representing either the buyer or seller side of the
transaction.
Research indicates that 10% of the agents obtain 90% of the sales.
It is the goal of this article to help improve the sales potential
of the 90% with deficient sales. However the top 10% will
also benefit and take their sales volume to the next level.
Again research shows that a real estate agents salary averages less
than $36,000 per year. In a large brokerage the fees and expenses
are hitting an agents bottom line constantly. It is widely known
that in a large brokerage the agents close less than four sales per
year.
Compounding the problem facing realtors is the shrinking of the
available number of buyers in this economic downturn. Creating an
out of balance effect in the number of potential sales when compared
to realtors. Indicating now too few sales available matching the number
of available real estate agents. However this has left the real estate field overcrowded with real estate agents to say the least.
As a realtor now more so than ever a marketing edge over your competition
is required and vital to your success in this field.
There should be two fundamental goals for a realtor’s success:
Property Listings and Referrals
For the sake of this article only the referral issue will be addressed.
Referrals have the inherent intangible power to make a real estate agents sales and earnings soar to new heights rarely experienced by most real estate agents.
First consider several key things an agent must offer to differentiate
themselves from the other agents in the lower 90% sales percentile.
For the buyer client transaction:
Timely communication with client
Build a relationship with client
Provide complete customer satisfaction
Reward the client, offer to show the client how to possibly save money
on their interest rate by learning to monetize their credit.
For the seller client transaction:
Timely communication with client
Build a relationship with client
Provide complete customer satisfaction
Present a suitable buyer with the best offer possible
Assist the seller when they are ready to buy again.
Reward the client, offer to show the client how to possibly save money
on their interest rate by learning to monetize their credit.
Create a customer satisfaction index (CSI) to track and monitor your
service customer satisfaction level.
Provide each client a survey to track their level of satisfaction with
the service you have provided. Assign each survey a satisfaction level numbered from 1 to 10. One meaning lowest and ten the highest level.
Set a goal to maintain a customer satisfaction level ranging from 9 to10.
Consistently build on your strengths and improve your weaknesses.
Be sure to ask the client how can I better serve you next time and any future clients I may have? Tell the client their input would be most helpful.
Never forget this one and very important fact and that is the reason why you were chosen as a realtor to represent the client. Whether they are a buyer or seller. The single most important thing to a client is your ability to produce the one thing that matters to them and that is Results.
Selling produce only sales.
Results and client satisfaction produce more clients.
Satisfied clients produce referrals.
Referrals produce more income.
Educate, educate your client/consumer, most if not all consumers value learning new beneficial information. Consumers enjoy getting in on the ground floor of a new trend at no cost. Share with the client your enthusiasm highlighting the significance of the new trend, “Monetizing Your Credit”.
Real estate agents can encourage their clients to monetize their credit.
Help clients to understand the benefits along with the value it offers as a focal point of your outstanding customer service. They will appreciate realizing they can sign up without obligation, it is a free service for consumers?
Just imagine the number of referrals coming in from happy clients. Who you have helped to earn an opportunity to get a possible lower interest rate by monetizing their credit. Instrumental in saving a ton of money over the life of their loan. Your clients will thank you for referring them to a source that helped them to discover the monetary value of their credit. You can rest assured they will tell others of their good fortune.
Use the above method as a marketing tool to get more referrals, increase sales and income.
It’s a win-win opportunity for realtors , buyers and sellers who may become buyers.