Monday, 01 June 2020

The Silent Scream, "I Am Not A Taxi"

Written by Posted On Thursday, 08 June 2006 17:00

Have you seen the television commercial featuring the first time home buyer who is bragging that their agent showed them more than 20 homes, and the agent is bragging that it was more like 30?

This is obviously not a recruiting commercial for buyer's agents.

The commercial implies that this national franchise is an agent of change. I can't help but think that the agent that sold this family a home will be changing careers right after this couple closes the sale and the agent gets her car repaired and the gas bill paid.

There are two messages in this commercial. The first is that agents with this franchise don't put a limit on how hard they work to satisfy their clients. The second, they don't have a clue how to take control of a buyer or how to qualify one.

But that's not uncommon for any of us, is it?

I know a top agent with another leading franchise who will not show a prospect more than three homes. If they want to see more than that he refers them to a new agent who is willing to "play taxi."

In reality, you know who shows 30 homes? New agents who don't know any better and they have not a clue how to qualify the buyer or select inventory to show.

Maybe it is a good time to reassess your showing habits by answering the following three questions:

  1. What percentage of your buyers do you actually sell?

    Whatever that percentage is, set a goal to increase it by 20 percent in the next three months. If you are closing 30 percent, strive to start closing 36 percent. If you don't know your prospect-to-closing ratio, think back over the past three months and be honest with yourself. You should be closing one out of ever three you put in your car.

  2. Are you comfortable and self confident with your buyer qualifying skills?

    Don't fall into the "buyers or liars" trap. That takes the responsibility off of you. I like "agents are poor qualifiers," because if I truly believe that about myself I will start learning how to become a better qualifier -- faster.

  3. Do you really know how to set a showing schedule?

    If you were going to show three homes today, would you show the home you think they are going to buy first, second, or third

    Hint: If you show the best home last, the homes are getting better and better in the buyers mind, will they keep wanting to see more?

What do the top agents in your office do? What does your broker recommend?

When you think about it, maybe you don't need more prospects. You just need to become a more professional selling agent. How would your income change if you started closing just one more prospect a month than you are closing now?

In your training and retraining, learn how to qualify your buyer, then show homes according to their needs.

Your expensive "taxi" service will be greatly reduced, and your income will substantially increase.

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David Fletcher, NHCB

Lifetime Achiever David Fletcher is Founder and CEO of New Home Co-Broker Academy LLC, home of the New Home Co-Broker (NHCB) designation. More than 4,000 real estate agents have completed the  Academy's course, How To Build A New Homes Niche, a three-hour online course based on research, case studies and David's  long career recruiting, training and supervising onsite teams, who sold more than $3 billion new homes and condominiums.

Along the way, he wrote Condominium Sales and Listings and has been the featured speaker for the National Association of Realtors and a present at the International Builders Show. He served as chair of the Sales and Marketing Council for the Florida Home Builders Association. 

He started in real estate as the project manager for Bay Island, of the first major condominium communities in Florida. During this time, he obtained his Florida real estate broker's license, served as chair of the Sales and Marketing Council for the Florida Homebuilders Association, earned his MIRM designation, and served as president of the Florida Condominium Developers Association. It was here that he leaned to work with local Realtors, 

After a successful three-year run, he brokered 27 lender workouts, 11 rental conversions, a TPC golf course, and more than 1000 condominium units in six different communities. 

He recruited, trained and supervised onsite sales teams for more than 70 communities, always insisting on co-broker cooperation in his listing agreements. 

He has been a contributor to Realty Times for 16 years and contributed to Inman News for 3 years. 

His education philosophy is based on these simple assumptions:

  • Builders need qualified buyers. Realtors need saleable inventory. 
    Today's home shoppers expect their Realtor to help them navigate the buying process whether it be for a resale or new construction. 

To lean how you or your office can benefit with our popular online new homes course, visit our website.

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