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Why Don't Franchises Prioritize "Finding An Agent?"
Posted By: Blanche Evans - 09/17/1999

In the rapidly changing world of ecommerce, real estate is desperately racing to catch up to consumers. But most franchisers don't see the forest for the trees. More interested in property searches, recruiting, and promoting their ancillary services, most overlook their single greatest source of revenue - the agent.

Let's keep the REALTOR® at the center of the transaction...on the third page

How many times have you heard that from industry leaders? National franchise organization leaders talk about the importance of getting ewired, even while maintaining the virtue of agents as being the high touch factor in a high tech world, yet many don't put their Internet sites where their mouths are. Just take a look at the front pages of the largest real estate companies in the nation. What you will find is information on everything but how to find an agent. The exceptions are the 100% commission companies who promote their agents proudly on their front page.

This rant isn't about endorsing a 100% commission organizations, but they do seem to "get it" where others don't. They seem to understand that a search feature for agents is useful to consumers and good exposure for the agents as well as the company. What could be wrong with that?

Of course companies have different business models, and some may feel that it is a breach to promote individual agents, but if all agents have the same opportunity to be included on the Web site - where's the harm? Regardless of how they make money, these companies all depend on one primary source of income - they all depend on agents selling real estate. The office franchise owner may be the customer of these large franchise organizations, but it is the agents who make them successful. Second, if you think about the way people search for homes, just having office listings may not be the most expedient way to put customers and closings together. Without agents steering transactions to closing, those precious property listings aren't worth much.

If you think about the typical customer who drives by a home and takes information off the signage, which do you think s/he will write down - the office name or the agent's name? Let's say a customer casually sees a property of interest, but doesn't stop to take information. S/he plans to search on the Internet later for more information at home. Many times this customer will want to contact the agent for more information about the listing after office hours. If s/he has the agent's name and can find him/her on the Internet, s/he can email them to initiate a dialog. But without an agent search, it would take a pretty determined customer to dig through three offices in the same city to find the agent s/he wants. Chances are, s/he will move on to the next home of interest, seek information from whomever possible, and the chances are good that this second listing will be listed by a competing office and agent.

Is that a chance these franchise/large broker organizations really want to take?

Clueless

Here is a list of the companies who could be promoting the importance of agents much better than they are doing.

  • Prudential: Prudential's home page has a Find a Home feature but you won't Find an Agent. When you click over to Prudential Real Estate and Relocation, there's no such feature as "Find an Agent" on its front page either. You can Find a Neighborhood, Locate a Company, but an agent? Clients have to dig.

  • Coldwell Banker: The same is true on Coldwell Banker's site. Personal Retriever is an attractive and prominently displayed feature as a home search tool, but there's nary a mention of finding an agent. When you scroll down the front page, you can find an Office Directory, and with a little luck, you may be able to find which office the agent you are seeking is located.

  • Century 21: Agents are not even a blip on the screen at Century 21 where the front page is emblazoned with links to Property Search, Career Opportunities, and Office Search.

  • ERA: Say it isn't so. Again, you can Find An Office, and Choose ERA, but not choose an agent. And don't forget to sign up for the sweepstakes! Smart marketing but hoes ERA put agents with clients?

    Hey, Cendant, who's asleep at the wheel?

    The companies who "get it."

  • RE/MAX: On RE/MAX's site, Find an Agent is prominently displayed alongside Find a Home right at the top of the front page.

  • Realty Executives: The only company named for its people is last but not least. Realty Executives not only places an agent search button prominently at the top of the home page, but it is enabling its sales force to take advantage of online marketing by offering free Web sites and email to its associates.

    Now you tell me, which company do you think is the best positioned to take advantage of the new global economy? Do you think size or service will matter more?

    Companies who "get it" will shortly come out with not only an agent search feature, but an agent interview form so that customers can comparison shop for personalized service as well as for homes. The ones who really get it will soon include explanations of agency on their Web sites for all fifty states and Canada and offer a cross reference database by type of agency. Buyer's agents, listing agents, and facilitators, your time will come. You read it here first.

    What do you think? Why isn't Find an Agent as important to your franchise as its other features? And what do you think should be done?



  • Responses to this Article

    Why Don't Franchises Prioritize "Finding An Agent"
    Posted by: Chris Adam - 09/17/1999 07:52 AM

    on the other hand
    Posted by: rick - 09/17/1999 04:56 PM

    Remax on top in my area!
    Posted by: Evelyn Black - 09/17/1999 10:13 PM


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