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Old 04-06-2018, 06:43 PM
 
7 posts, read 2,226 times
Reputation: 14

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Quote:
Originally Posted by oldtrader View Post
The big problem is, that 80% plus of all real estate agents, will go broke and fail out of the business. It is a business, where there is a constant turnover of agents, an a large percentage of the agents will not be in the business long enough, to really get to know if a home has problems or not. They go to school to learn to pass an agents test, and few enter the business with knowledge of homes, construction, obvious problems, etc.

85% of all homes sold, are sold by 15% of the agents. That 15% are the agents that realize what they are doing, and a lot of them are really tour bus drivers taking buyers out and showing home after home till they find the one they like and make an offer.

I entered the real estate business in 1972, and remained in it till I finally retired specializing in investment real estate, farms and ranches, and real estate exchanges often multiple properties involved with several property owners involved.

In all my time in the business, I only sold 6 homes for personal residences, every time was to help a good friend. But I sold as many as 14 homes in one day to investors. That 14 included a 13 home to be built subdivision and one home needing an immediate sale to ward off foreclosure. My investors bought from 2 to 5 homes. and every call sold homes. I subdivided some land, and had homes, to office buildings built for clients. My key to success, was I had 20 years sales experience before entering he building which made me realize I needed to understand the business if I was to be a success. I spent one whole year taking classes at a major university, covering properties, real estate law, investment analysis, and had a good understanding of the business before I entered the business.

But most new agents, only have a class to pass the agent's test, not to understand real estate and it's problems. And that is a major reason, that they fail out of the business, and leave a lot of the public unsatisfied with their agent experience.
YOU are AWESOME! Excellent post.
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Old 04-06-2018, 06:44 PM
 
Location: Raleigh NC
7,764 posts, read 6,119,124 times
Reputation: 6888
Quote:
Originally Posted by just_because View Post
Ah yes, the old "we want happy clients and referral business" chestnut.

This is rolled out like it's a final word and some kind of proof that the client will be looked after.

I hate to break it to everyone who repeatedly rolls this out but just about every single business in the world wants happy customers, repeat business and referrals.

There is absolutely nothing inherently different about agents in this regard. The pool guy wants happy customers, repeat business and referrals, the car mechanic does, the car dealer does, the restaurant does. Everyone does. This guarantees the customer nothing. It's not a predictor of how the customer will be looked after. Good businesses and bad businesses all want happy customers, repeat customers and referrals.

If you get into a dispute with a car repair shop because they've overcharged you. They might say, "of course we didn't overcharge you. We want you to be happy and refer your friends" Do you think that this is some kind of revelation and they've just proved their point? No. You probably wouldn't.

Can anyone properly explain what saying you want happy customers, repeat customers and referrals says anything at all about anything? It's said so often, I'm sure there is a good explanation. If this meant anything, there would hardly be any bad businesses in the world.
it means that 99% of agents don't want customers like you.
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Old 04-07-2018, 06:02 AM
 
1,528 posts, read 725,886 times
Reputation: 2062
Quote:
Originally Posted by Diana Holbrook View Post
JB.... I agree. There is absolutely nothing inherently different about agents in this regard.

Say that again: There is absolutely nothing inherently different about agents in this regard.

There is absolutely nothing inherently different about agents in this regard. You want to make us different than every other service industry professional. Why? We have systems in place for aggrieved clients to find recourse. If the court of public opinion isn't enough, we have actual courts. If that's not the right venue, we have Association and Licensing review boards.
Why do you think we need more? More than we have... and more than other service industries have?

You tell us why you have singled us out for your attention and demanded we be treated differently.
I said "..in this regard" which clearly means wanting happy customers, repeat customers and referrals.

All industries are different and real estate has some very unique "features" that are well discussed on this board.

I don't understand your point as I never said real estate is the same as every other business. You have not addressed my point at all, which is why agents wanting happy customers is different to any other business wanting happy customers. Or why this should give consumers any more comfort than understanding that a restaurant wants you to tell your friends how great it is? It's just a basic for any business so I don't understand why it's even relevant, never mind brought up like it's some big revelation that means or proves all kinds of things . It's like trying to say that nobody will commit crimes because of course nobody wants to go to jail or that everyone will work hard because of course they want to get good grades or make a lot of money. Or that people don't cheat on their spouses because of course they don't want to get hit with a divorce. Good businesses and bad businesses say they want happy customers so why does saying it mean you're a good business?

If real estate agents' desire for happy clients, repeat clients and referrals is so monumental and different from just any business wanting the same, why can't anyone explain why? Why isn't it just as silly as automatically assuming a restaurant will be great because the owner wants me to tell my friends it's great? This makes no sense and says nothing.

It's off-topic to debate regulatory needs in the industry (you brought it up) but generally I think you know the history and why lots of intervention was needed. And yes, other industries have been and still are guilty for many similar reasons (banking, insurance, for example).
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Old 04-07-2018, 06:09 AM
 
Location: Rochester, WA
3,832 posts, read 2,053,214 times
Reputation: 10577
Quote:
Originally Posted by just_because View Post
I said "..in this regard" which clearly means wanting happy customers, repeat customers and referrals.

~snip~

I don't understand your point as I never said real estate is the same as every other business. You have not addressed my point at all, which is why agents wanting happy customers is different to any other business wanting happy customers.
You don't understand what I wrote at all... because I am not saying agents are different in that or any regard.... YOU ARE.

Or rather, you spend a lot of time here arguing we should be different. I am saying we are the same as any other business. The ones who are successful for the long term... usually do a pretty good job of making happy customers. Those who don't.... fail. Beyond that, there are many avenues unhappy customers have to find recourse if they choose. I see no need for more.

Read my post again, JB.

Last edited by Diana Holbrook; 04-07-2018 at 06:26 AM.. Reason: clarity...
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Old 04-07-2018, 06:34 AM
 
1,528 posts, read 725,886 times
Reputation: 2062
Quote:
Originally Posted by Diana Holbrook View Post
You don't understand what I wrote at all... because I am not saying agents are different in that or any regard.... YOU ARE.

Or rather, you spend a lot of time here arguing we should be different. I am saying we are the same as any other business. The ones who are successful for the long term... usually do a pretty good job of making happy customers. Those who don't.... fail. Beyond that, there are many avenues unhappy customers have to find recourse if they choose. I see no need for more.

Read my post again, JB.
OK, I agree with you. However, with respect, you're just stating the obvious. And what you're missing is the context in which people roll out "we want/need happy customers". It's used to somehow prove or support the idea that the client will be treated properly and that their interests will be looked after. So I certainly agree that usually the best businesses are the best at looking after customers, a blanket statement that agents want/need happy clients and referrals says absolutely nothing about what behaviors a customer can expect.
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Old 04-07-2018, 06:35 AM
 
Location: Columbia, SC
8,848 posts, read 17,443,646 times
Reputation: 6202
Quote:
Originally Posted by just_because View Post
I said "..in this regard" which clearly means wanting happy customers, repeat customers and referrals.

All industries are different and real estate has some very unique "features" that are well discussed on this board....
It's off-topic to debate regulatory needs in the industry (you brought it up) but generally I think you know the history and why lots of intervention was needed. And yes, other industries have been and still are guilty for many similar reasons (banking, insurance, for example).
While you're at it JB, I also asked a question you didn't answer. Why would you even offer a list of inspectors if you don't think buyers should use inspectors recommended by an agent? Let me guess, you're "different" than all the other agents and you're more trustworthy?
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Old 04-07-2018, 06:43 AM
 
Location: Rochester, WA
3,832 posts, read 2,053,214 times
Reputation: 10577
Quote:
Originally Posted by just_because View Post
OK, I agree with you. However, with respect, you're just stating the obvious. And what you're missing is the context in which people roll out "we want/need happy customers". It's used to somehow prove or support the idea that the client will be treated properly and that their interests will be looked after. So I certainly agree that usually the best businesses are the best at looking after customers, a blanket statement that agents want/need happy clients and referrals says absolutely nothing about what behaviors a customer can expect.
What assurance is even possible for you, JB? I mean really. What assurance is there in any human endeavor? We hope clients will shop for a quality, successful, caring agent who will abide by our code of ethics and look after their interests. How can we be ever be assured that a client will actually look for the highest quality agent and not the cheapest one? What assurances are there to guarantee a perfect future?
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Old 04-07-2018, 07:00 AM
 
1,528 posts, read 725,886 times
Reputation: 2062
Quote:
Originally Posted by Diana Holbrook View Post
What assurance is even possible for you, JB? I mean really. What assurance is there in any human endeavor? We hope clients will shop for a quality, successful, caring agent who will abide by our code of ethics and look after their interests. How can we be ever be assured that a client will actually look for the highest quality agent and not the cheapest one? What assurances are there to guarantee a perfect future?
There are no guarantees, of course. Businesses can use all kinds of assurances to attract customers.

My point was simply that "we want happy clients" is meaningless and says nothing, despite being repeatedly used here like it's a meaningful indicator of how an agent will or won't behave. Like it's a "nuff said" kind of statement. Like it's a meaningful response to any kind of criticism.

I'm allowed to say this without having to provide a list of alternative assurances that a business may use. I'm not the best one to come up with marketing for your industry but I can tell you that saying "...yeah but we want happy clients and referrals" is a waste of time. We all get that. It's obvious.
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Old 04-07-2018, 07:05 AM
 
5,681 posts, read 7,263,702 times
Reputation: 3188
Quote:
Originally Posted by just_because View Post
So I certainly agree that usually the best businesses are the best at looking after customers.
Well thatís not what you said earlier. Your previous statement was pretty definitive in saying that wasnít the case:

Quote:
Originally Posted by just_because View Post
In fact, the agent's financial interests do not align with the client's so it's a mistake to assume that doing right by the agent means doing right by the client.
So are you now backtracking on this statement?
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Old 04-07-2018, 07:36 AM
 
Location: Rochester, WA
3,832 posts, read 2,053,214 times
Reputation: 10577
Quote:
Originally Posted by just_because View Post
There are no guarantees, of course. Businesses can use all kinds of assurances to attract customers.

My point was simply that "we want happy clients" is meaningless and says nothing, despite being repeatedly used here like it's a meaningful indicator of how an agent will or won't behave. Like it's a "nuff said" kind of statement. Like it's a meaningful response to any kind of criticism.

I'm allowed to say this without having to provide a list of alternative assurances that a business may use. I'm not the best one to come up with marketing for your industry but I can tell you that saying "...yeah but we want happy clients and referrals" is a waste of time. We all get that. It's obvious.
Wow.... next you'll say a Diamond is not forever. Or I shouldn't Just Do it. Or that eating Wheaties will not make me a Champion.


All each of us can do, JB, is clearly and repeatedly tell you that our goals are to be successful and make our clients happy. Our job is 100% performance based, so you're right, it should go without saying. I can't promise you all agents will do that as well as I do. In fact... My major selling point when talking to clients is that I promise to do better. I KNOW I'm better than many of the others.... even the ones we have lost to, at least in the short term. It happens... No guarantees.

This is just a heads up, JB, because I have actually enjoyed our talks.... and I hate to bury this breakup on yet another 200 post thread that is all about you and your 'grave concerns' about our industry, but I want to start focusing on others now. This forum is where I spend my free time, and I want that time to be positive.

I want to spend my time here helping people who actually want help, learning from other agents who have experiences they can share, and chatting with people who are not here just to try to put me down or twist me around into a knot to prove they can 'get' me. I've tried very hard to help you, but I'm not sure I can. You are NOT why I am here. I want to talk to people who I can help.

I'm sure we will cross threads from time to time, but I'm no longer going to worry if you make a post I have not personally tried to answer. I'm done tilting at windmills.
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