If you have been in the business for over five or eight years, chances are you are acting like a 'mature' agent. You are getting most of your business from repeats and referrals. You have built up a strong enough business that you do most of your business based on pre-built trust and confidence. You are admired in your office (and perhaps your whole company) for your leadership and mentorship.
The challenges of the ‘mature’ agent. Because the mature agent gets most of her business from referrals, she may not be prepared to compete against more aggressive agents—or agents trained with the latest presentation methods. This happens. Let’s take a mature agent, Martha. She was referred to George and Betty, who wanted to sell their home. But, George and Betty also were referred to John Schlock, of ABC Realty.
Martha knows John Schlock, and she thinks his last name is appropriate…... Of course, though, she cannot say this to George and Betty. Martha's in kind of a bind here. She relies on word-of-mouth for her business, and she relies on this word-of-mouth building her credibility to the point where she has no need to build it herself. This works fine when she is not competing with another agent, and the sellers already think she is the best thing since sliced bread. It does not work so well when she is competing with another agent—especially one who will tell the client whatever they want to hear!
Martha relies solely on her ‘known’ reputation. Martha has no testimonials in writing, no Professional Portfolio, no visual marketing presentation, and no statistics systematized to teach George and Betty the principles of how real estate works. Why not? Because, Martha does not need these credibility-builders very often, like those newer agents need. And, when she does, it is too late to create them.
This ‘mature business’ attitude results in lost listings or over-priced listings. This makes Martha mad, but, to do anything about it, Martha would have to admit she needs to quit acting like a 'mature' agent and push herself back into the growth phase. Just like Taurus, she needs to 're-tool' herself. You, dear reader, may be like Martha.
Congratulations on taking the risk to even look at your business today. Many ‘Martha’s’ in real estate are just waiting out the inevitable--their descent into decline.
What to be aware of if you are in the 'mature' career phase. With real estate practice changing so dramatically--so fast--I think, for companies, offices, managers, and agents, this 'mature' phase is the most dangerous. The danger of lulling ourselves into complacency in our 'mature phase' is that, without our knowing it, we have slipped into decline. So, to find out if you are in the mature phase, ask yourself:
-
Am I relying almost solely on old customers and clients to send me referrals? (And am I waiting for them?)
-
Am I relying almost solely on my reputation to list properties at the right price?
-
Am I losing listings, or pricing them too high, when I do not have strong enough credibility with sellers?
-
Am I resisting putting my credibility statements in writing (and/or my marketing program) because I rarely need to establish my credibility? Do I even have a marketing program?
-
Have I introduced a new business practice into my business in the last two years? If so, what kind of return did I get?
-
Have I looked at my business as though I was a new agent--in the last two years?
-
What is my attitude about technology? Twitter? Blogging? Farming?
-
If I had to sell my business tomorrow, could I? (Do I have the systems in place that someone could take over? Do I have my database in top condition? Do I have all my marketing programs running at full speed?)
The Mature Agent’s Need? Re-generation and Motivation*
How does someone re-generate oneself and motivate oneself again? For the mature agent, it is putting those talents and skills to work for others. You need appreciation and compliments. You need to know you are needed. You need to know you are making a difference. (I believe it is really sad because you can really make a difference for a seller or a buyer, yet they are working with someone who cannot supply the expertise, care and honesty that you can!)
It is time for you to flex those dormant skills, which will re-energize you and your career. You don’t have to be a tech expert, learn fancy stuff and spend a fortune.
In today’s market, both buyers and sellers want good advice, help and experience. How are they going to find you? How are you going to set yourself apart? They are willing to pay for great service if you know how to demonstrate that you are worth it.
Let me show you how!
|