ACCURATE MARKET DATA AND ONGOING COMMUNICATIONS CHARACTERISE GOOD AGENTS
18 March 2010, 04:53:15 PM
The massive drop in the numbers of estate agents employed (from over 90 000
in 2007 to under 35 000 today) has reinforced the fundamental lesson that it
is impossible to survive tough times in this business if the agent is not capable
of “forging a relationship with his clients”, says Simon Raab, Southern
Suburbs Sales Manager at Greeff Properties.
“The boom in property that preceded the slump enabled many unprofessional
agents to make a living even though their knowledge and service were substandard,”
said Raab. “Those who have survived are the ones who understand what it
really takes to create a trustworthy, ongoing relationship with the client.”
So – what does it take? What are the factors leading to ongoing success,
even in a weak market?
Raab said all good agents have two attributes: they have accurate, up to date
factual data always at their fingertips (and when short of information, they
know where to find it) and they are good communicators.
“Nothing impresses a client, whether he is a buyer or seller, as much
as a factual, scientific analysis of the market in which he operates. Once he
knows that the price suggested by the agent is fair and market related, he will
relax and start to trust his agent.
“Conversely, if the client has any reason to suspect that the agent may
not have done his homework and is thumb-sucking the valuation, the relationship
will sour.”
Occasionally, says Raab, a perfectly trustworthy, accurate valuation will not
be accepted by a client – but in most such cases three months later he
will either realise his mistake – or lay the blame on the agent for not
trying hard enough.
“Clients of this sort are invariably their own worst enemies and should
be avoided,” said Raab.
The second attribute, he added, of top agents is that they communicate with
their clients on an ongoing basis.
“When a house is up for sale or when no new homes are available there
may be lulls in activity. These can lead the client to believe he has been forgotten.
The good agent will provide regular feedback immediately after he has taken
potential buyers around the home.”
Good agents, Raab added, also recognise the value of cultivating an agent network
and referral system and will happily pay out referral commission to any agency
who brings them a buyer or a seller.
They will also, he said, give the client a range of extra services, helping
to find good contractors to repair a home, fix the swimming pool or landscape
the garden.
“This is a service sector and only those who enjoy service will survive
in it.”