Are you doing everything to maximize your profits and stay ahead of the game?
The average annual salary for a NJ real estate agent is $80,000, but half could easily be lost through simple mistakes and poor customer service. Just how important is customer service? Take a look at the numbers:
- 89% of consumers who experience poor service will switch to another brand
- 63.9% of consumers consider customer service to be more important than price when deciding whether or not to do business with a company
- 55% would actually pay more to guarantee better service
In an industry like real estate, where relationships are of the utmost importance, customer service is even more significant. While keeping up with the latest trends is important, keeping your clients happy and delighted can be the difference between a payday and missing out on over half of your sales and commissions. Like Warren Buffett says, “Any business with delighted customers has a sales force they won’t have to pay; You don’t see them, but they are talking to people all the time.”
Are you connecting with your community?
Interpersonal skills are extremely important when making sales. Whether it is empathizing with a family in danger of foreclosure or just being able to hold a conversation, it is important to work on your people skills.
As a real estate agent you have a responsibility to the neighborhood as well as the client to make sure the buyer is not only a match for the house, but for the community. Having the ability to connect with and read people is imperative.
Always be aware of the difference between selling a house and selling a home. If you’re just trying to make a profit rather than make a family happy then that can be detrimental to your business in that community. Just think of it this way; if you focus on filling the community with homes rather than houses, future clients will see that and know that they are in good, caring hands.
Failing to understand the connection between the buyer and community can be the easiest way to miss out on future clients.
Are you behind on the times?
With more and more real estate agents flooding the market it is important to be able to appeal to all generations and stay relevant. Understanding and connecting with millennial buyers and sellers is just as important today as understanding and connecting with older clients.
Staying relevant demands a media presence. Using sites like Linkedin and Facebook or utilizing an agency to build your brand can be hugely beneficial. New agents can sometimes have an advantage; having grown up in the Digital Age and generally already having an established brand keeps them in clients’ minds. That is why it is essential for an agent who is serious about their craft to get started as soon as possible.
Just remember, if they can’t find you, they can’t hire you, and they’re looking on the most popular, established sites first.
Are you wasting your time with new tech?
Staying relevant does not mean you have to jump on every new technology or platform. While Snapchat, Vine, Periscope and other apps are exploding in popularity, these tools are not necessary for an agent’s success.
Why waste time making a short six second clip on Vine when it won’t be guaranteed viewers? Why take a potentially harmful live video on Periscope when you can take the time to edit and compose the perfect shot of a property or space?
The only one of these three that is potentially beneficial is Snapchat, but before using Snapchat you have to take time to build your brand and network on Facebook, Twitter, and LinkedIn first.
The truth is – most apps will only waste your time. Save Snapchat for selfies, not selling homes.
Are real estate agents going extinct?
As new technologies emerge and clients become increasingly tech savvy, a real estate agent’s job may seem like it’s more and more in jeopardy.
The fact is that even though there are apps out there that people can use to buy and sell on their own, they will never be able to replace the warmth and humanity that a realtor can bring. It is true that staying relevant is going to become harder and harder, but if you follow these tips, emphasize customer service, and delight your clients, then you can stay ahead of the game and maximize your earnings potential!