Real estate old-timers talk a lot about having real estate "experience." As a member of that club, I probably over-use the term myself because experience DOES set me apart from agents who bring little to the table except their license, the enthusiasm of being new, and - oh yes - technology know-how that makes them a better choice than any "old pro." (Implied here: anyone over fifty prefers dial telephones, doesn't know how to turn on computers, and isn't accessible.)
WRONG! There's absolutely no guarantee that an inexperienced agent has more technical skills or is better connected through technology than an experienced one. In fact, the ideal agent is one who brings BOTH to the table.
Obviously we all have to package ourselves to emphasize the qualities that differentiate us from our competition - whether it's experience, technology, local expertise, professional memberships and designations, our sales record or whatever. But that packaging doesn't mean a thing if a prospective client doesn't "know, like, and trust" us.
THAT is how a consumer decides!
The list of our credentials is just one factor - a small part of getting to know you - and most of us invest a lot of time and effort into putting that "marketing package" together. But it's not enough to swing potential consumers our way. Let me ask this...
What makes them like you?
Is it the friend you have in common... perhaps the one who referred you to them? The content of your blog that makes them feel comfortable with you and your business practices? The fact that you share a love of fishing? Your good looks, great smile, or sunny personality? Whatever it is, liking you is a necessary ingredient in a consumer's choice of agent and just as important to them as your marketing package. That's why you should always take the time for building rapport with consumers, finding something nice to say about their home, and looking for evidence in their home of something you have in common. This is a step that's easy to overlook, as you eagerly pull out your marketing package and all the paperwork you spent hours preparing for them.
But even if you do hit it off and you have a dynamite listing or buyer's presentation, do you know how to build trust?
No, it's not your list of credentials and not even your experience. It's 3rd party testimonials and success stories. Some folks simply provide references, others offer a pre-printed list of testimonials or perhaps a CD/DVD with video recordings of former clients, and some folks keep a scrapbook of thank you notes and/or feedback forms from previous clients. Whatever your vehicle for building trust, JUST DO IT! Include testimonials in every presentation and on your website to help build trust.
Experience or technology, personality or record sales production... they're all nice to have and it's important for you to make a good case for yourself, as to your qualifications. But remember that consumers want and need more to help them decide first "Should I hire an agent" and then "Which agent should I choose."
You've heard it many times before today, but let me say it again: They will choose an agent they know, like and trust.
P.S. - "You don't get a second chance to make a good first impression," so be sure to address ALL of these factors in each and every presentation. All the experience in the world means nothing if consumers don't take a liking to you. All the technical know-how you have means nothing if you don't earn consumers' trust.
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Margaret Woda is a licensed Associate Broker in Crofton Maryland. She specializes in serving the real estate needs of home owners and home buyers in Anne Arundel, Howard and Prince George's Counties, Maryland, including Fort Meade, Andrews AFB, and the U.S. Naval Academy. If you enjoyed reading this post, check out Focus On Crofton and Your Online Relocation Package for Anne Arundel County.
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I get a chuckle out of comments like,
"Sure the old timers have the experience, but, the younger agents have the tech skills".
That is absolute nonsense.
We old timers have the experience to evaluate those new "tech thingees".
I'm still laughing, Lenn. Right on!
Whew! Ms. Margaret writes another great post! As an old timer, I'm starting to notice that I have been using the tech stuff as it became available. There might be some techie youngsters who could make better use of some of my great toys than I do, but I use them certainly well enough. So I think that you and Lenn and I have a huge leg up! And right now, I'm not even feeling all that old!
Margaret, a great post.....and I always like to read what Lenn has to say to the posts.....
....I more and more see that the tech side wins even with the Bank and not the experience....and that is a shame...
Bettina
Bettina - If the tech side wins, then the experience is not being adequately presented. As Lenn says, it takes experience to know how to use those "tech thingees" to benefit consumers.
Pat - LOL. It's really not an "age" thing, although I do find myself getting a bit defensive when I read posts ranting that "old-timers" should just face the reality of technology and fade away. Yeah, right!
Marget ~ I agree you need the complete package to win over most new clients. I like how you summed up your blog with:
P.S. - "You don't get a second chance to make a good first impression," so be sure to address ALL of these factors in each and every presentation."
Have a great day.
Margaret, loved reading this and the comments. Trust is the key. Great post.
I try to be in balance and learn as much as I can. .except technology is going faster than my learning speed.
Margaret - excellent article. Technology certainly can hlep us be more efficient, adn it does convey a certain impression to those who are impressed by it, love it, feel it's essential, etc. But it doesn't necessarily mean someone is a better agent in terms of knowing how to do the job. And all the designations, education, tech tools and glitz won't mean much if the client doesn't like and trust you. The first impression quote is always a good thing to keep in mind but so easily overlooked.
Jeff
Margaret: In one of the very first seminars I took right after I got my license... waaaaay back in the dark ages... I went to a series of three... three-day seminars taught by the inimitable Tommy Hopkins. Three full days each... spent on Listing, Selling, and Closing techniques. It is where I "got my start." All that info... but the basic thing way back then that Tommy taught... is that your first task as a Realtor... is to get people to like and trust you... and the best way to do that... is if they can get to know you.
Add to that a decent degree of techie knowledge, and you've probably got a pretty darn good agent.
There are so very many ultra-techie agents that I see... many on Active Rain... that have all the techie knowledge one could want... but when I read some of their "stuff"... I cannot imagine I, personally as a buyer or seller, could EVER even want to get to know, like and trust them. Ummm... ya need people skills, kids. Funny how that works... doncha think ? Thanks for a great post... take care... enjoy the upcoming Spring and Summer... and the crab cakes !
Hi, Jeff - I'm just betting your presentations are something that would impress US as well as consumers!
Fernando - I love technology, and I use it more than most people in my office have even considered. But in the end, it all boils down to the same ol' "know, like, trust." So easy for us to forget!
Judi - Comments are what make a post... add depth and perspective to the conversation.
Hi, Terri - It's especially easy for us to skip one of these steps when we're meeting with a former client or a relative because we tend to assume we'll get the listing or their buyer business - those are the times when business is ours to lose, but we sometimes do it. At least, I have.
Good post.
Margaret...you are so right. I happen to be one of the newer mortgage pros out there. But I have been blessed with the fact that people recognize that they can trust me. It is definitely key to building any relationship!
Hey, Karen Anne - You snuck in there with that comment and I missed it earlier. Great to hear from you. Yep, we both got a lot from Tom Hopkins and a few others. I wonder if they use any of his stuff in real estate training any more...
Realty dot com - Thanks for commenting.
Sarah - New is not a bad thing... we've all been there. If what you're doing is working, then you've got the know, like, trust thing down!
technology is going faster than my learning speed is what Fernando commented above. Ha....I love it. It doesn't matter if you are young or old, new or experienced....some learn the technology quicker and easier than others....
Patricia Aulson/Portsmouth NH Real Estate
Timely post. Great minds think alike. I just posted "From Total Stranger to Friend in 5 Minutes," which talks about "connecting" with buyers. When people like you, trust you, and feel comfortable with you, one can almost wing most of the other stuff. Experience comes over time and so does tech knowledge and expertise. What many of us lack is expert people skills.
I see agents that are both focused on experience ANDdismissive of technology as having failed to use their experience to know they must continue to adapt and learn to best service the customer (and through the customer, themselves).
You don't have to be a tech guru but to brag about the old ways alone (or the new ways alone) screams that the individual is more focused on their own fears and habits than serving the customer well with all available resources.
All the best!! G
I want both from an agent if I am looking for one. And I aspire to be both.
Hi Margaret - I enjoyed your post. It made me wonder about some stuff.
First, it made me wonder why so many of the self-styled real estate 'old timers' look younger than me? Second, it makes me wonder what it takes to qualify as an 'old timer' in real estate. And third, it makes me wonder where a person who, let's say hypothetically, might be in his or her seventh decade but not quailified as a real estate old timer, would fit into this universe? Seems that if everything hinged on experience or techie smarts, and with the perception that anyone over 40 is a luddite, that poor unfortunate soul would be up the proverbial creek!
Fortunately, and as you point out, it isn't all about experience or technical capability. The words 'know, like and trust' capture what it's really all about, at least in most instances. A community of people who know, like and trust us is what we all seek in our business. I suspect that may be what it takes to quailfy as a real estate old timer - a community. It is something that is earned, and it feeds on itself (in a good way).
So where does that leave new entrants to this business? Some come with communities, some don't. But I think those who know the ins and outs of social media have an advantage. With a well thought out plan which is consistently executed, they can grow their community of individuals online who know, like and trust them.
I liked this immensely, Margaraet. It gives me hope that my lack of experience (relative to others) can be overcome simply by being the best me I can be...someone who customers can relate to and trust to handle their business for them.
Technology or no technology, experience or no experience, alphabet soup designations or no alphabet soup designations, people are going to do business with what Margaret has synthesized the agent selection criteria as:
"They will choose an agent they know, like and trust."
The "old timers" have the benefit of the first criterion, the newbies don't so they will have to use technology to get known.
The "old timers" have no monopoly on likability. Both old timers and newbies could be equally likable.
The "old timers" have a reputation which could be good or bad. The newcomers don't. This is one up for old timers IF they have a good reputation.
Before all that, "care" comes into play.
Potential clients won't care what you know if they know that you don't care.
Neither old timers nor newbies have monopoly on showing care. This is where old timers may lose out even with knowing a lot, and a newbie may win because he/she showed care.
the old timers still have the edge because most of the seller leads (try 43% in 2008 according to CAR) come through previous transactions. This factor used to be 53% in 2007. However...drum roll please...the mother of all leads, THE INTERNET, has leapfrogged 550%, that is, from 6% to 33%.
The newbies might want to chuck the offline marketing. It has lost mindshare from 27% in 2007 to 15% in 2008. The old timers might want to continue with it because they want to continue communicating with their existing clients.
At some point, when the old timers' clients, who are used to seeing offline marketing, have kicked the bucket or move on to the Internet, then it would be the time for them to cut down on offline marketing and focus on the Internet.
Lee
BankFreeInvesting.com
Foxtons. fantastic technology + inexperienced "realtors" + possibly a market turn = out of business
Like deer in the headlights - some folks will always opt for the one with the bells, whistles and bling...but, in the end, the majority will opt for the ones they trust, know and like! Good post!
Margaret - great article! You are living proof that you can have both -- the experience AND the technology skills. :-)
Kerry - Thank you, I try! There are a lot of younger folks in my market who use technology a lot less than I do.
Gary - Unfortunately, that's true, so maybe we should add that bling to the presentation.
Mrs. Jeffries - Thanks for your comment.
Lee - Great re-write of my post. Did you consider posting one of your own?
William - Absolutely! Anyone can put together a good spin on their qualifications, whatever they may be (or not), but the like and trust aspects are a little harder. If you can do that, you've got it made!
Duncan - Tough questions! Right on all counts. Hey, that would make a good post, too...
Heather - Me too!
Glenn - Like Heather said, be both!
Andrew - I'll have to look for that post. Yes, I agree. Nothing more annoying to an "expert" than to see a charmer with no qualifications win the consumer when they compete against each other. It's probably that "likability" factor.
Patricia - You're right, but the ideal agent is BOTH experienced and tech-knowledgeable.
I hear these same statements and I agree. Great post and great statement they do buy from who they "know, like and trust."
Margaret - Once the consumer has made a decision on the "know, like and trust" factor, I think they expect knowledge of the real estate field. Experience and technology work together beatifully to convey competence as a real estate pros.
Margaret, thanks for the kind acknowledgment. Yes I did make it into a blog entry and linked back to your blog here. I usually end up writing a lot in response to post, so sometimes I do turn them into my own blogs.
Experience - I don't have much yet.
Technology - I don't understand it all yet.
Trust - I will do my very best for each of my clients and always be honest.
hmmm - 1 out f 3. I guess I'll just keep learning and working! :-)
You're right that you need both, experience and technology, but as you said, it's the personal communication that is the real key to getting the client.
Margaret.......great post! But hold your horses, just cuz I'm an old timer (BTW older timer = 20+years) doens't mean I don't know nada about this teckie stuff. Shucks.....well I can blog like the best of them new kids on the block. Why just yesterday I got one of dem gosh darn pretty gold stars on my forehead. Oh wait.....where did they put that?
Seriously - it is about know like and trust AND the rest of the skill sets that sets the excellent agents apart from the rest. And for the newer kids if you don't have the experience or no how yet you've got lots of folks around you who can lend you a hand. We all started somewhere.
Thanks!
Margaret - Great post. Getting people to know me, like me, and trust me is easier when you like people too, and are not desperate for business. Not that I'm rolling in deals, but I enjoy meeting people, finding out what they want and trying to find it for them.
I know when I'm old when some one bring my first computer to the Antique Roadshow and they tell him it's worth thousands. Bring on those young whipper snappers.
Very interesting posts and comments. I'm getting to be considered pretty "wise" and "experienced" myself (at least last time I poked my head out of my cave).
Anyone these days can get a zippity-do-da website and all the fancy new technology to make themselves look larger and more experienced than they really are while they get the experience they need to be more successful. I'm still learning a lot from the younger folks too (that reminds me - I've got to plug in my mp3 player...it's dead again).
Some technology simplifies life like crazy these days! Some just complicates your life further. But however you do it, the communication with people is vitally important, no matter what level of experience you have. They have to know you, like you and trust you before they'll refer you in this business, as many here have said.
I've been using one particularily fantastic piece of technology since 2007 for just that purpose called SendOutCards. It was VERY easy for me to learn. It has saved me a ton of money, time and frustration in following up with people in a more personal way. Email me if you want a link to the site to try it.
Margaret, great post! Well deserved star I have to say. I am not an old timer in real estate, but I have been around a bit, not quite sure how many years put you in that category. I know that I keep pretty much on top of technology, and am not afraid of it. I can build my own computer, write html, do some basic programming, etc. So, I can offer my experience, though not decades of it, with my technology knowledge, it works ok.
I have been on a few listing presentations where the home owner has actually expressed confusion about who to use, we all gave the same number, all gave that fancy looking CMA to them, offered most of the same services, all were pleasant enough. I have told them they need to think about who they want to be their new best friend. Who they think they would want to communicate with, trust personal things with, trust, etc.
Terry - I hear yah! Was that a Commodore 64?
Deborah - I think you're right, it is a lot easier for anyone who is a "people person.
Anna - Me too! They underestimate us, don't they! Hey, you're a mere babe... I've got 20 years on yah.
Roger - Funny how many people think you only need one of those, experience OR technology.
Irene - Keep at it! At least you know the formulat, which is more than a lot of other rookies do.
Lee - Great, I'll have to go look for it. I do the same thing some time. If my comment is longer than about 5 or 6 lines I figure "why settle for 25 points, when I could get 200?" LOL.
Norma - I agree, but isn't it amazing how some people seem to manage with nothing more than charm?
Mark - Yes, no matter what else you have to offer, it doesn't matter unless you satisfy those three requirements.
Margret, here is an interesting tidbit for you. The baby boomers are outgunning the young ones, Generation Y et al by becoming part of the newest technologies. They have embraced technology and are active and present... many young ones I have recently met (last night) had not heard about Twitter! Just because someone is younger does not mean they are tech savvy. Thanks for the post! Trust is the key! Alexandra Seigel
Experience and technology paired together make for an unstoppable agent whether they are 30 or 70. I admire the "seasoned" agents who are embracing technology...such as my 71 year old mother! And I admire the whipper-snappers who are embracing education, training and mentoring along with their techie-skill set to deliver a high caliber of service to their clients.
Ah Margaret...you really know how to burst the bubble don't ya?
Here I thought my good looks and charm were all I needed! There really is something to be said about experience in this business, and why I hold back on heading out on my own.
But, you can have all the experience in the world and the personality of a rock, and you won't get very far!
There's an agent in my office who does not have a website, use visual tours, and barely creates flyers for inside a home (none outside) and he does a ton of business. So....technology is not everything!
Barb - A lot of folks here on ActiveRain seem to be using SendOutCards. You're right... some tech makes life easier, and other just makes it harder.
Andrea - If all else is equal, who the consumer likes best makes the difference.
Alexandria - I think it goes back to the first comment, by Lenn. Oldl timers have the experience to evaluate those tech thingees.
Exit Hill Country - Sorry I don't know your name - you should either change your id info or "sign" your comments so we know who you are. Yes, you're right about pairing experience and technology IF the consumer knows, likes and trusts you!
Thom and Ray - Given a choice of experience, technology or charm... I'd have to say that charm is the most important.
Thank you Margaret! Though I appear young (good genes), I have both the experience and technology skills to get the job done. It doesn't have to be one or the other, and yes, people should choose to work with the agent who they will get long with best and go above and beyond for them.
Without those three an agent can have all the technology in the world but they won't have much business to pay for it. As an "oldtimer" I'm still learning the techno stuff but the basics still work wonders even in today's world.
Margaret,
Great post. I think the experience/technology debate can go both ways. Ultimately every agent is unique and it is a mistake for people to pre-judge real estate agents based on their age.
Having a well rounded individual represent your really helps. In any profession having more than a few good skills is important.
Marney - You're right. Thanks for the comment.
Cameron. So true. Even though I live in a pretty "wired" area, I still find that my practical tech skills are not inferior to most people I do business with.
Mark - You're right, and "age" has nothing to do with one's qualifications, whether they're twenty or sixty - anyone can meet the standard of "know, like, trust"
Bill - Anyone who has you representing them is vert fortunate because you do have more than a few good skills - in fact, lots of them!
I know more than my kids and teach them many things. I may have to work harder to learn things at my age, but it can be done. All it takes is dedication and a love for it. I love technology, not all Realtors do at any age. Great post!
It is obvious we all need to embrace BOTH!!!!!
As stated in the post a seller will list with someone they like and Trust.
Sellers expect that they will see technology implemented in the marketing plan, and your abilities will show in your presentation of the material.
We need the technology for more exposure and to simplify some of our tasks, but there is nothing that can beat experience in people skills or negotiating ability. Years in the field is NOT proportional to ability. This only comes from training and practice.
Technology can help sell the home, but a good negotiator will sell it for more, much more.
Hi Margaret,
Although our buyer and seller clients don't realize it, trust and likeability between co-brokering agents helps make transactions smooth. I believe that a listing agent's reputation among other agents can help or hinder the sale of a property. Although we all practice buyer agency in my market, I find that transactions with the old-timers are generally much easier because after the contract negotiating is done, both agents get down to the business of getting the transaction to closing, which means cooperation and trust need to rule the day.
Carol
Margaret - wow, what a great post! Many can have all the bells and whistles of technology and tools they use but if they're not building trust with their sphere, prospects and through the tools they use (blog and websites) they will be passed by. Seeing testimonials does build a trust and encourages consumers to delve in further and hopefully engage with you. No matter how you share it - you simply need to share it and show them that you are going to provide them services that were spoken about in your testimonials. ~Anne Marie
Lenn & Margaret are right here about the 'new kids on the block' saying the 'seasoned' agents still use a rotary phone, etc. A seasoned agent that knows the ropes, makes it look easy - that doesn't mean that it is. The more confident you are in your skills, you project that confidence to your client.
Good post & congrats on your newsletter feature.
Technology is a tool, but it is no substitue for experience. I wouldn't trust my 12 year old behind the wheel of my truck.
Margaret - you hit the nail on the head! But it's not age that makes us old it's our attitudes. And yours is fantastic - which is why you are a very successful agent with experience AND tech skills!!! Having both is priceless...
Margaret,
If you are on Activerain then you are an oldtimer that gets technology :) Us technology people can't create the experience you have and like you said...in this day and age you need the perfect combination of the two.
You are SOOO right Margaret! The two are NOT mutually exclusive and clients CAN have it all...but LIKING ME is the tipping point! Great post!
Margaret: I like you already.
It seems that the 'youngsters' started technology when they were three...I started when I was forty-three; I'd say it comes sorta ...naturally to them...I've got to work at it and right on, Fernando...as soon as I learn something techy and feel good about it, something better takes its place...whew!
If I were choosing a Realtor today, I'd choose someone like me...whether it be techy, to talk their language or a boomer that knows those ropes or a youngster that knows those fears as well. But it all gets back to 'just who do you trust with one of the biggest decisions of your life' ? thanks for the post, debra
Margaret this is a wonderful post. As the market turned, I took a Floyd Wickman class and I tried to follow his program, but it actually made me not be myself on a listing appointment. I felt robotic and I knew , as I walked out the door, I was not getting this listing. I should have been myself and they would have trusted me, but because of they way I presented as instructed it was terrible for me.
Kidos. Don't disrespect the "old timers".
Statistically speaking, a la Harry Dent, 55+ are sitting on serious equity in their properties. They sell because they want to not because they have to.
They will deal with whomever they know, like and trust; even if he/she is working with a card Rolodex.
It may not be the "30 Under 30" with all the whiz-bang technology, and the lastest guru's slick business model. :)
As one old-timer tech savvy agent to another, I agree with and appreciate your post.
There are some people who are loaded with skills related to technology and who passed the tests needed to get a license. There are some who, on the other hand, have minimal technological skills, who also passed the same tests and have extensive experience. Then there are those, as others have written, who have both technological skills and experience.
There are probably a few in the first category who may have had success. There are definitely successful agents in the second category and many in the third. It is my opinion that the defining difference is neither technology nor experience, but people skills.
There are two professions that absolutely require liking, and maybe even loving, people if one is to be trusted (and successful)-- the first is teaching; the second is being a real estate agent. Since we have agreed in this string that trust is so vital perhaps we would benefit by a continual reminding that our profession is a people profession. No amount of technological skills nor number of years in the business matters unless the agent behaves in a manner that shows that fulfillling the wants and needs of the potential or existing client is what matters.
Marilyn Robertson, Town & Country, Realty
"In fact, the ideal agent is one who brings BOTH to the table."
Oh, so true! However, I can honestly say that in my market it's EXTREMELY rare to find both. There's a huge gap between experienced and new, with very few agents who've been in the business 5-10 years.
Margaret, Thank you for a great post. I so enjoyed it! You are absolutely right on! Bottom line for us to understand....trust, connection and knowledge are what sets you apart from the others. Have a great weekend.
Olga, You're welcome, and I appreciate your comment.
Ryan, Right on! By coincidence, I just happen to fit that bill. But a lot of consumers make assumptions...
Marilyn - Thank you for your thoughtful comment. Yes, you're right... and maybe add medicine as a profession that require trust.
Lee - Yep, most of my peers are just fine with the "old" criteria, but they are blown away when they find out you can keep up with the best 30 yr old agent in town with technology. They don't understand it, but they understand it's important.
Monique - I took the Floyd Wickman class years ago and won all kinds of weekly and season-end awards - but here's a secret... I did it MY was, not there's, and really benefitted primarily from the challenge of wanting to "beat" all those cocky 30-year olds who looked at me with a turned up nose. Haha.
Debra - I haven't yet clicked through to your profile or read any of your posts, but I like you already too. 'Looks like we're on the same wave length.
Sara - Gotta love it when people like you agree with the theme of my post. Thanks for your comment.
Shuki - Yep, an old-timer CAN and often does have tech know-how, but experience can only be earned and not learned.
Lee & Pamela - Why THANK YOU! Now, if we could just figure out a way for you to communicate that to my target market...
Gene - Great analogy. I'll have to remember that one.
Lyn - It does get tiresome hearing people who clearly have no idea how to do this business touting their technology skills and openly criticizing experienced agents in their offices. I just have to shake my head and sigh because they'll lose to me any time we go head to head for a buyer or seller, motivating them to grumble even more.
Anne Marie - You can't manufacture testimonials... they come over time. I've never asked for one (actually, it's a good thing for agents to ask) but simply taken snippets out of thank you notes or other correspondence for my testimonials. Another option is to list "success stories" - that's impressive, too.
Carol - I agree, and I even wrote a post recently about an amazing listing agent for a home I sold. Experience means more than technology when it comes to that critical period between contract and settlement.
Paul - Right on! I agree with all of your comments.
Missy - Don't you love it when you can teach your children about tech thingees? (to borrow a word from Lenn's dictionary) My son (the founder of a technology company) nagged me into blogging and now he freely admits that I put him to shame, and I often send him and my other children posts I find on ActiveRain and on the Real Estate Tomato