Redefining The Role of Real Estate Agents
Positioning Agents for Success
The primary role (and value) of a real estate professional (Agent) lies in guiding consumers through a series of complicated, often stressful, steps required to buy and/or sell a home. Everything else is secondary. If you fail to deliver a successful home buying or selling experience for a consumer, you can forget about any type of long-term relationship, much less one that yields future business. “That process of buying/selling a home was awesome!” (said no one ever). The reality is that coming out of a real estate transaction in one piece with your sanity in place is a win for both the Agent and the client. The bar is low, but we have the opportunity to raise it.
The most direct way a brokerage can elevate its Agents in the eyes of consumers is to equip them with the training, tools, and support to help their clients navigate the logistical and emotional gymnastics required to achieve a successful closing.
Shifting The Consumer’s Perception
First, we need to change the perception around Agents as a necessary cost of doing business. Let’s stop referring to real estate professionals as Sales Agents. Agents are in the business of Customer Service not Sales. Consumers don't want to be sold, they want service, and they’ll gladly pay for such.
To enable this shift start by helping agents articulate how they’re going to provide a home buying/selling service in terms defined by outcomes rather than actions. This is critical to conveying a value that exceeds cost. Consumers do not care that an agent takes care of 150-ish tasks; detailing that level of minutia invites critical debate around what an Agent should and shouldn’t do for what they’re charging, dragging consumers down to where they can't see the forest for the trees. Some examples:
Desired Outcome: Save me time.
Value Proposition: Coordinating critical tasks, meetings, appointments between a dozen different people to ensure an efficient and successful closing process.
Desired Outcome: Save/make me more money.
Value Proposition: Negotiating the many components of a deal like appraisal gaps, escalation clauses, and inspection concessions yields the best terms.
Desired Outcome: Save me the risk of spending more time and money.
Value Proposition: Compliance and regulatory expertise mitigates the risk and expense of a deal falling apart or someone getting sued.
Desired Outcome: Save me time.
Value Proposition: Expertise in marketing strategies that are tailored to situational needs deliver valued conveniences.
Training agents to highlight the core services they provide and how those services save consumers buckets of time or money will shift their perception of an agent from a necessary cost of doing business to a sought-after and valuable resource.
Enabling Transparency Through Communication
Clear, frequent, open communication that eliminates friction and increased stress at every step of the home buying/selling process is paramount to successful relationship between Agent and client. However, it can be difficult to keep everyone informed around who is responsible for what and when. Ad-hoc communication tends to be disruptive and means a consumer is likely waiting on something they should be able to access for an answer, causing frustration.
Providing Agents with a modern, thoughtfully architected ecosystem of technology and proper training on such will keep consumers informed around who is responsible for what and when across the entire buying/selling process. Technology platforms that allow consumers to feel like they’re part of the journey rather than a disjointed observant will positively affect satisfaction levels and elevate Agents accordingly.
Words Matter, Actions Even More So
We’ve seen alternatives to the title of Sales Agent… Trusted Advisor, Real Estate Consultant, Home Buying/Selling Services Specialist… titles are just that without actions to back them up. Investing in the training, education, technology and ongoing support to elevate Agents will allow them to redefine their role and substantiate their value in any market. These are the incumbent duties of a brokerage that’s focused on long term success. These are the duties we’re focused on at ENRG.
