If you ask the average commercial real estate broker about integrity they will tell you that ‘they have got it covered’. Have they really? It’s an interesting question.
Many agents by their own opinion will believe that they have all the attributes of quality client contact and service; integrity will be part of that. Whilst in general terms that may be the case, I am suggesting that we do much more for the quality clients that we serve together with the top properties that they own.
To take matters a bit further I will say that there is a radical difference in commitment to be applied to a client with an exclusive listing versus a client with an open listing. If the client trusts you with an exclusive listing then that is the start of the business equation and the marketing effort. For the remainder of the marketing campaign and the listing period you must ‘service the socks off the property and the client’.
Real Estate Agents that ‘live and breathe’ integrity will find it a lot easier to grow levels of trust with clients in the market place; repeat business and referrals listings can then happen with greater frequency.
In a recent workshop with some agents and brokers we took this a bit further to identify what it meant and what we could do about it. These are a few things that we decided:
- The client and agent relationship has to be built on trust in both directions. If a client does not give you an exclusive listing, it is quite likely that the client does not fully trust you to service their property needs. If you want to convert more exclusive listings you will need to look at this fact a bit more; build relevance and skill into your presentations.
- Connecting frequently with the client with relevant property facts and information helps when it comes to any upcoming negotiation. Unfortunately when the listing is not creating enquiry it is easy to avoid talking to the client about property progress or lack of it. When a listing is not doing what was originally hoped it is so common to see the agent focus on other things and leave the client communication to the last thing on the list for the day or the week. Remember to connect with your clients with exclusive listings; integrity is really important in what we do. If nothing is happening with the property, tell the client of that fact and why you think that is so. Deal with the problem and seek adjustments in marketing and pricing to lift enquiry.
- Use market facts and reliable information to help the client see the best ways to solve their property problem in selling, leasing, or management. Explain the best approach, tell the client what you recommend and why, and then give them some solid alternatives to choose from.
Integrity in the real estate market place is quite simple really as long as you follow the rules. To be the best local a real estate agent, build your relevance on top quality service and integrity. Over time that will be seen and respected in the market place. The repeat business and referrals will help your market share grow.