Communicate, Not Congratulate: The Necessity of Realtors Making News

Written by Patricia Baronowski-Schneider Posted On Friday, 22 November 2013 10:41

For the real estate industry to officially rebound, to recover independent of some economic measurement or key financial indicator, REALTORS® need to distinguish between communications and congratulations.

That is, they must move beyond the congratulatory aspect of their work, the standard advertising and promotions - the visual, auditory and digital bombardment of our senses, in which catchphrases compete against pledges, which battle with billboards and other signage - amidst of all this noise-disguised-as-messaging, realtors must communicate with their colleagues and prospective clients.

To do so requires a shift in priorities, and an understanding of the differences between self-serving announcements and news. In short, realtors must become makers and reporters of relevant (to their profession) news.

This undertaking is critical, right now, for a number of reasons, but this mission is not - nor should it be - a solo assignment. I know of what I write, which is to say, I know, as a media relations and investor relations (IR) consultant, the magnitude of this responsibility.

For, in my role as the Founder and President of Pristine Advisers, I am privy to Wall Street's perception of the residential real estate market - a perception, or rather, a misperception - which demands input from the real estate industry as a whole and individual realtors in particular.Allow me, therefore, to pause, and explain why Wall Street and Main Street need to hear from realtors about this issue, both regionally and nationally.

Consider, first, what these two distinct audiences read, hear and see, in the absence of any communication from realtors. The only thing people see, aside from soon-to-be-forgotten ads and placards, is a series of charts and numbers.

Based on those numbers, which invite a quick survey about which city is up and which market is down, investors, speculators and lenders make monumentally consequential decisions. These actions are a signal, an incomplete or wrongly transmitted one, but a signal nonetheless -- a reaction to figures, which lack one invaluable component, an element only realtors can explain: Context.

Without that context, without nuance and interpretation, without the insight and wisdom of realtors, there is no other credible source to communicate news about the statistics we so readily consume with abandon.

My advice, to realtors and the public, is, as a result, very straightforward: To the former, I believe there is an ethical duty to always be ahead of the news, to educate (through explanation) why one set of numbers is significant - because, say, it corresponds to the purchase of durable goods, a major financial barometer - and why another is unimportant because it is the result of an aberration like a hurricane or tornado, which halts temporarily construction.

To the latter, to prospective homebuyers and sellers, I believe the best decisions can only be made with access to the best and most accurate information. Which is another way of saying, realtors possess this material - they know it neighborhood-by-neighborhood and street-by-street, with a degree of unrivaled detail - so they must summon the will to produce, dissect and distribute the news, their news.

By honoring that job, in word and deed, realtors communicate- for the good of current and potential clients, and the public at large - so they may earn the rewards of the deepest and most sincere form of congratulations, expressed with the silent power and acknowledgment known as credibility.

Crafting that message is also the ultimate form of marketing because it represents facts, not assertions, which confirm a realtor's expertise. Remember: Referrals, which constitute a significant share of a typical realtor's business, come from word-of-mouth marketing - which is a testament to credibility - not ads or vainglorious attempts at undeserved fame. Translation: Clients listen and respond to news, for that is the essence of referrals, and they, the individuals, couples and families who walk into a realtor's office, are there because of news.

With guidance and the right counsel, realtors can be at the center of a dynamic - and necessary - conversation about the economy, their profession and the trends influencing their industry. From there, that discussion can become the news we read and the information we crave. Welcome to the world of communications.

Patricia Baronowski-Schneider is Founder and President of Pristine Advisers, a marketing and communications professional with over 23 years experience in the financial communications and media relations industry.
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