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One of my agents came to me recently with a question from a client. He asked her, โWhatโs the difference between a real estate agent and a used car salesman?โ
Now, that sounds like the beginning of a (probably upsetting) joke, but her clientโs a straightforward guy, and he sincerely wanted to know. And if you look at the data around the most and least trusted professions, among those who rate our trustworthiness โaverage,โ weโre not that far apart: 44.9 percent of respondents see used car salespeople as having average trustworthiness, as opposed to 56.12 percent who see real estate agents that way.
We fare a little better at the ends of the spectrum. More people see us as high or very high on the trustworthiness scale and fewer see us as low or very low, but thereโs certainly a lot of room for improvement.
Thereโs a level of professionalism that some real estate agents donโt hold themselves to. In the real estate industry, some people see themselves as salespeople and get focused on the commission โ what I like to call getting โcommission breathโ and chasing that dollar.ย
Thatโs different from acting as a trusted fiduciary and thinking about whatโs in the best interest of the customer. The level of professionalism you bring to the table sets you apart, and it helps define you.
If you have to compare yourself to a car salesman, at least be a high-end car salesman, like a BMW, Mercedes or Lamborghini โ someone whoโs selling the exotics at a higher price point. Theyโre not as worried about the commission as the typical used car salesman.
All joking aside, this is a common analogy, and Iโm not surprised that this client asked this question. Just think about it: Studies show that we have similar levels of trust, yet weโre selling somebodyโs house or helping someone buy a house.
That should give us all pause.
Setting the expectation and establishing a level of service
So why does that perception persist, and how do we overcome it? I think we start by defining ourselves differently right out of the gate, setting the level of expectation and service that weโre providing right up front with that first client communication.
Weโre never going to be able to change negative perceptions about our industry unless we all start changing how we operate, how we act, how we view ourselves. The negative perception is almost a reflection of the self-perception of some agents.
Iโm a big believer in valuing your own time and behaving in a truly professional manner.ย
When my son isnโt feeling well, I have to call the doctor at 8:30 a.m. to get an appointment for the day. If I donโt, the doctor will book up. The doctorโs office wonโt stay open late so we can get in, and theyโre not going to rush in early to look in his ears.
When youโre jumping through hoops to meet a client at 7:30 p.m. to show them a house 15 minutes after they called you, or dropping everything youโre doing whenever they tell you to, thatโs a little more used car salesman than what your doctor, your attorney or another professional would do.
We canโt, as individuals, change all of the stigmas that exist around our industry. Itโs out there that agents are commission-hungry, that they get paid too much and so on. But you can change the perception on an individual basis by the way you conduct yourself and the level of service that you provide to your clients from Day 1.
Information-gathering vs. relationship-building
When someone walks into a car dealership or onto a used car lot, the information they give is all about the nuts and bolts of the type of car theyโre looking for and the money they have available for their purchase. If thatโs the way youโre approaching the initial buyer or seller meeting, youโre acting like a car salesman.
Our job is to create a relationship and evaluate the criteria around their goals to determine how we can help that client. Instead of looking to qualify them for a loan, weโre helping to determine how that client fits into the vast spectrum of the real estate world. Our job is to guide, not to sell.
The house (condo, co-op or lot) will sell itself once we present it, as long as we know the client and their needs.
That also means weโre not here to โsoup upโ that property. Weโre here to ensure that buyers and sellers are making the right decisions, giving them the knowledge and the value they need to make those decisions.
Weโre not just here for the numbers because we know that if we treat them right, those clients will come back later. Theyโre going to have children; theyโre going to have sisters and nieces and friends who theyโll want to refer to us. Weโre going to build those relationships to build that long-term referral network.
So, weโre not application-based. Weโre criteria- and relationship-based. And thatโs one thing that I think even our clients forget about. Itโs more than just the sale.
Let me say that again: Itโs more than just the sale.
So what is (or should be) the difference between a car salesperson and a real estate agent? The only thing they will offer their customer that has value is the car. Weโre offering a lifetime of knowledge and experience, and thatโs what separates us.ย
Like many of you, I take so much pride in my work, and I value the friendships and relationships that I develop with each and every one of my clients. Remember that everything you and I do reflects on every other agent and broker in the industry. Itโs worth showing up at our best every single day because that allows us to make our little corner of the real estate world better.