10.12.08
How many real estate agents will survive this market?
A real estate agent once told me that 20% of the agents make 80% of the money. From what I have seen it has to be true. I’ve had the pleasure to work with great agents, but these can be hard to find, so I’ve ended up having to deal with not so great agents. It seems to me that many agents are just glorified order takers, which might have worked ok during the boom, but this tough market requires more aggressive marketing strategies.
What is amazing to me is that the mediocre agents continue to be well .. mediocre. You would think that they would see the writing on the wall and take their game to a new level. When will these people wake up and either find a new profession or improve?
Here’s what I have had to put up with:
- Inability to write decent copy. You would think they would mention that the property has a view, or is the lowest price in the subdivision.
- Not returning phone calls for days or checking email.
- Turning their cell phone off after 5pm and on weekends.
- Not very tech saavy – ie. they can’t figure out how to upload pictures to the internet.
- Listing an ad in a print publication and then not checking that the listing makes it to the online version.
- Taking the dart board approach to pricing. For example, not knowing their market and listing it too high, then incrementally lowering the price 5 or 10,000 per month.
- Not being able to answer the question: what sites will my property be listed on?
- Not being able to articulate their marketing plan.
Yes, I might be more focused on the internet and online marketing than others. But, hey wake up, it’s the way of the future! And where your prospective clients start their property search, why some agents seem to not understand that is beyond me.
Real Estate Agent said,
October 13, 2008 at 8:06 pm
I can’t agree with you more. A lot of real estate agents don’t fully understand the plethora of options available to them on the internet. Unfortunately for them, many of their customers do – or at least use tools on the internet to assist their real estate searches. There are a lot of marketing companies out there who know the real estate industry, and can help agents better communicate with their “web savvy” consumers. If real estate agents want to benefit from consumers on the internet and learn how to properly use it, they should consult one of those companies.