Real estate, Wal-Mart and customer service
Letter to the Editor
By Inman News, Friday, January 23, 2009.Re: 'Barber pole branding' (Jan. 22)
Dear Editor:
I have fought the battle while under the big brands and I agree that people follow them mainly for the same reason people love to shop at Wal-Mart.
They know what they are going to get, where they are and the cost to use them. It might not be the very best quality, but they know what they will get.
I think that old-fashioned outlook is going to be costly to their business in the future. They did not (make enough) major changes in the past few years. That is why there has been the room in the marketplace where agents can hang their licenses under others, trying to be the "Big New Name" to work for and with.
Profit-sharing with your agents is a great idea, in theory. But if the customer service is not there, where the end product is sold, how their business grows and consumers' impressions of the company will suffer (unless there are) changes. Worse yet, the customers suffer!
The fact is: It is the individual Realtor who the customers experience.
Brokers: If you don't train your individual agents on the "Golden Rule," and train them to be the most knowledgeable in their area, and if individual agents are not striving to have their skills and knowledge at that level, too, then the industry as a whole will implode. We then, have to hope that the consumers will put the (poorly performing companies) out of business before they put us all out, too.
The consumer sets our value based on their individual experience with a Realtor. The main view of Realtors right now is not the best. That view is built by one Realtor at a time and it will take one Realtor at a time to change that. All professionals are human and prone to flaws -- that is why their skills and knowledge will outplay the other issues.
Cindie Stewart
Texas Sold Team Realty LLC
Fort Worth, Texas
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Submitted by Emmanuel Scanlan on January 23, 2009 - 8:22am.
From the viewpoint of a person who has extensive dealings with using the services of a Real Estate professional, the current model for Agents and Brokers is archaic and no longer appropriate. The system is much to prone to problems and issues but the existing powers that be refuse to acknowledge this, let alone affect the necessary changes! Until that happens it really will not make much of a difference with consumers.
The first thing that must be done is to rid the industry of the archaic "Apprenticeship" system in use. Good RE Agents are being squeezed heavily by the burdens of the system costs, i.e. Brokers fees and cuts, MLS fees and Association memberships, etc., etc. The current system is no more than the equivalent of "Indentured Servitude". New RE Agents should be given the option of hanging their own shield out for the public to see without being forced and tied down to a Broker. Those that wish to work under a Broker may still choose to do so until such time as they feel comfortable to strike out on their own.
The next modification to be made is access to services and systems (i.e. MLS) without the need to join an association and/or pay heavier fees than those that do join associations (i.e. TAR). Let's face reality, associations are their for the member and not the consumer. Many associations restrict free trade and business by locking out non-members from services that the consumers use extensively (i.e. MLS). After all, that type activity is nothing more than "Anti-trust" at its best! Associations have plenty of other perks and benefits they can obtain for members at less cost than a sole proprietor can, i.e. health and discount programs, etc., etc.
Running parallel with the two items above are reforms to ethics and laws, but more importantly a closer monitoring and enforcement of those ethics and laws. This includes more transparent, efficient and effective handling of consumer complaints. The Commission, body of rule/law makers, etc., who oversee this profession need to NOT be comprised of the same individuals in the profession nor individuals with ties to the profession. Instead, individuals in the professional should be enlisted as "Advisory Only" members to help explain and craft the laws/rules and their purposes.
If these three items can be accomplished, and they are simple to accomplish, then what occurs is healthy competition in the market place for these professionals' services. Those that can not cut it, or can not legally and ethically perform, will die off or be removed from the field. The current 3%/6%/etc. commission standards will fall by the way of the dinosaur! If you are good at what you do you can command, and set, your own commission rate.
With the advent of the internet, cut rate RE Agent/Broker services programs, many new listing services available and growing, the real estate buying and selling landscape has changed rapidly. If changes are not made now the "Traditional" Agents and Brokers system will die and be replaced by impersonal service companies.
Emmanuel Scanlan
PS Inspection & Property Services LLC
www.psinspection.com
Serving the Dallas and Fort Worth areas
Knowledge is power, but sharing knowledge brings peace!