How many times have you scratched your head in amazement of how an agent with limited success or experience, ends up with a great listing? After all, a sellers decision about who will best represent their needs is one of the most important financial decisions they will make in any given year. The problem is that most sellers don’t have a good strategy for selecting an agent. They will ask a friend or neighbor who they recommend, identify an agent from advertising, or even just stop into an office and talk to an agent on floor duty. Worse yet, sometimes the selection is based on someone they know that has a license or even the popularity of an agent. These approaches to selecting an agent are ludicrous.
Selecting a trusted real estate advisor shouldn’t come down to a popularity contest, especially when you consider that the agent selected will be dealing with one of the most important financial assets the seller own, their home. The agent selected will be responsible for protecting the sellers financial asset. But, without proper guidance by a professional agent like you, many sellers aren’t likely to identify a better selection process than the one’s just discussed. So here is the critical point:
It’s your responsibility to point out the importance of selection the most qualified agent, you! (It will always be you, because you’re selecting the criteria to present to the seller.)
A great way to education sellers that you meet is to use the example of a wealth management advisor. Successful people almost never select an financial advisor based on who is popular. It’s not their brother, son, cousin, neighbor or any other person they just happen to know or are friends with. It is almost always someone they know will protect their assets. This makes complete sense because most people have worked their entire life preparing for retirement. Yet, a bad choice, can lead to financial ruin. Although, the risk may not be as great with a poor selection of a real estate agent, it still can cost a person thousands, and in some cases, hundreds of thousands of dollars.
Here is a great approach to putting the importance of the selection process into perspective:
“______________, I’m sure you know people that have their Real Estate license, or have seen advertisements for Real Estate Agents.
I can’t impress enough the importance of selecting an agent that will best represent your needs.
After all, your home is one of the single-most important financial assets that you own.
If an agent is not familiar with Real Estate Trends, or other key market information, how can they give the best advice to you as a client?
My job as your Trusted Real Estate Advisor will be to analyze and interpret market conditions, and help you apply those trends to your specific situation.
That’s why I do extensive market research, to determine those trends and help you make the best possible decision.
After all, you wouldn’t trust your retirement security to and advisor that wasn’t well-informed, would you?
Can you imagine selecting a doctor that had a poor track record, or wasn’t up to date on medical practice?
I recognize how important this decision is for you. I want to assure you, if we do business together, you’ll be able to sleep at night, knowing you have the best representation.”
By educating every seller using the above approach, you will be raising the bar for all other agents the seller comes into contact with. Of course, you’ll have to be well-informed to meet the expectations you created, but that’s what being a trusted real estate advisor is all about, isn’t it?