Real Estate News and Advice
November 11, 2009
Today's Insider REALTOR Secret


Search Realty Times
 









Let Webcast City webcast your message.



Ultimate Real Estate Success SuperConference





NEED HELP?

Click for Live Support


Call: 214-353-6980








What Do Agents Expect? What's Expected Of Agents?

Recently I saw two newly licensed agents leave the business within two months, because they did not know what to do with a couple of situations they were not trained to handle.

One of the agents spent six weeks or so practically every day with a relocating couple who were moving in six months. They had no idea what they wanted, other than for the agent to tour them day and night, traveling as much as 75 miles from the office. The agent left the business. Her prospect was turned over to the top agent in the office and the buyer purchased within 45 days. The agent who left told me she did not expect to be handling relocation prospects so early in her career.

The other agent found himself running to the airport and back, always with the promise that the prospective purchaser would buy from him. Finally, the prospect made an offer so ridiculously low that it offended the seller, who became infuriated with the agent for bringing such a low offer. This agent left the business, frustrated and totally dismayed. His prospect decided to wait. He said he never got trained on how to qualify the buyer.

Where exactly in the training videos are these types of scenarios presented? These and many others are learned in the hard school of experience. The problem is that many agents, about 85 percent, according to the National Association of Realtors, come into the business with no real sales experience. They are not introduced to the expectations of buyers, sellers or the agents support team.

Expectations are a serious matter.

Agents have expectations of others, and others have expectations of the agent. Trust and rapport take a beating and the probability of a sale greatly suffers, when expectations are confused or not met. New agents and brokers lose every time when expectations aren't clear from the start.

Here are some of the expectations that cause trouble:

  • The new agent expects the broker to provide sales training and help to get started. The reality can range from "there's your desk" in one broker's office to so much paperwork training by another broker that agents don't have time to develop selling skills.

  • Agents expect sellers o give them a six-month listing agreement at the highest possible commission, but the norm is becoming a much shorter term for a cut-rate commission.

  • Agents expect to show buyers a maximum of three to four homes and for the buyer to close in 30 days. The prospects end up looking at 10-12 homes and wanting to close in 90 days, or worse, not purchasing at all.

  • Agents expect their prospects to be financially qualified to purchase in the price range they are looking. Many times the agent learns that the prospects are not even close to being able to purchase in the price range desired.

  • Appraisals are expected to come in at contract price or higher, but sometimes they don't.

  • The termite inspector is expected to find no termites, but he often does. He also expects to be able to get into the home to do his inspection, but many times can't.

  • Home inspectors find problems that will cost more to fix than anyone agreed to.

  • Agents expect buyers and sellers to appreciate their efforts, but they don't.

  • Closing dates change. The list goes on and on.

As you can see, there is plenty of room for feelings to surface, because somebody let somebody down. If we aren't careful, the entire process could turn into a country song!

Expectations should be clearly spelled out. This is why it is so important that in both your listing and sales presentations you give the prospect a verbal road map that clearly explains how you work and how you will be working with them. It is why new agents need to ask hard questions before placing their license.

In reality it is not important that you and I understand each other. What is important is that we don't misunderstand each other. Feelings get hurt every day with the statement that begins "It was my understanding that..." What this person is saying is that there is a misunderstanding."

There is only one way I know of to make sure this doesn't happen. Be very specific and very clear about your services and how you provide them. There is no better way to do this than with a formal presentation, either on power point or a table top presentation that disciplines you to cover all the bases professionally.

There is no excuse as a professional real estate sales agent that expectations are not exceeded most of the time. At a minimum in today's world, expectations should at least be met. There is no good reason they can't be, that I can think of, can you?

Published: November 30, 2004

Use of this article without permission is a violation of federal copyright laws.




David Fletcher has been a Florida licensed real estate broker and new homes sales and marketing consultant for 30 years. Along the way, he has sold more than $3 billion in new homes and condominium products for developers and builder/developers.

He has been broker of record for 16 rental conversions and marketing consultant in 29 lender workouts for major communities and condominium projects, a featured speaker at the National Association of Realtors, and chaired the Florida Home Builder Association's Sales and Marketing Council.

In 2008 he was named a 'Lifetime Achiever' by Keller Williams Realty's International Division. You may contact him at or call him at 407.234.2349.








Real Estate News Network

You must enable Javascript to view the Video content and Navigation on this site.






Spotlight

Ultimate Real Estate Success SuperConference

Today's Headlines



Agent Publicity | Market Conditions Interview | Local Market Conditions | Video Newsletter | Article Index | Terms & Conditions | Privacy | Contact Us

Copyright © 2004 Realty Times®. All Rights Reserved.