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The Agent-Centric Money Trap
Being "Agent-centric" may be a smart strategy for the company who depends upon agents to drive its business, but it can spell disaster for the agent who uses it when working with clients.
As you evaluate your business plan, a key factor in successfully meeting your goals is having a clear cut understanding about what drives consumers to hire you as an agent. Unfortunately, many agents lose tens of thousands of dollars of business because they mistakenly assume that being "agent-centric" is the key to attracting clients. To demonstrate this point, consider the information below that typifies many "Agent-Centric" websites:
Sally Agent is a residential real estate specialist who brings an impressive real estate and accounting background to her position. She believes clear communication with her clients is critical. Sally is enthusiastic, energetic, and also has a strong desire to provide her clients with superior service. Her perseverance in solving problems allows her to achieve high levels of success in placing properties under contract and closing them. A native of Los Angeles, Sally has a BA from UCLA. She also has a CPA, which provides her with a critical edge in today's highly competitive real estate field. She was "Rookie of the Year" and continues to receive awards for top production in Southern California.
This information is all about the agent - there's no emphasis on the potential client or their needs. This "agent-centric" approach relies on the false belief that clients choose their agent based upon the agent's achievements. Worse yet, there is no request to have the potential client call the agent for an appointment. Experience tells us virtually all clients select their agents based on two factors: Personal connection and "WIIFM - what's in it for me?"
Now compare a different approach:
Selling or buying a home can be an intimidating process. How much is the property actually worth? What types of inspections are necessary? What are the current mortgage rates and how will they affect my ability to sell or buy? For the answers to these questions or to learn more about what is happening in the LA real estate market, click on any of the icons below:
Properties Currently Listed for Sale
Comparable Sales Information
How to Find the Best Mortgage Rates
Advice for First Time Buyers
Tax Tips for Home Buyers
Living in LA-Schools, Recreation, Shopping, Transportation and More
Chamber of Commerce Information
Tips for Home Safety
Resources for Home Improvement
Resources for home inspections
Relocation Information
If you would like to know what your property is worth or if you just have questions about buying or selling, call Sally Agent today at 800-555-1212 for a personal consultation.
This "client-centric" approach has a number of distinct advantages over the "agent-centric" approach.
Using your website to pose questions and answer them in a detailed, professional fashion is an excellent strategy for demonstrating your expertise rather than just telling potential clients "I'm the expert."
Providing comparable sales information as well as current inventory greatly increases the probability of the client contacting you for additional information. If your current website does not let you open either your company's listings or those of your MLS without leaving your site, contact your web designer to learn how you can open another site without your visitors leaving your site.
Providing "one-stop shopping" by including Chamber of Commerce information, answers about buying and selling, mortgage information, etc. greatly reduces the probability that potential clients will visit other websites since your site has virtually all the information they need.
The phrase, "Call Sally Agent today" is an "embedded command" to contact Sally about listing or buying a house. The potential client will be more likely to call an agent who has already provided them with value as compared to someone who has not.
Having an 800 number is smart for two reasons. First, potential clients, especially those who are relocating, are much more likely to call you because the call is free. Secondly, your phone bill will list the number from which they called. Thus, even if you miss their call, you still have a way to follow up at a later date.
Being "agent-centric" on your listing appointments can also cost you listings. To learn more about how to eliminate this costly approach from your in-person presentations, see our next issue.
To contact Bernice Ross please email her at bernice@realestatecoach.com.
