Do you provide value to your client?

I think this is going to be one of my favorite posts.  My reasons for writing this post come from a recent interaction one of my agents had with his client.  This client was a young, first time home buyer.  My agent had shown him 20 homes or so, and the buyer just hadn't gotten off the fence.  Then the buyer asks my agent one day, "what exactly do you do for me?"  He asked it in in an almost indignant tone.  Now after my agent took a long deep breath and put a smile on his face, he answered the buyer.  Now my agent did a great job explaining just what he did to provide a service for his client.  He hit on many of the things I am going to discuss today.  I wanted to write this blog to help you agents out there that may not know all the work that you do in a given transaction or don't know how to explain it.

I want to reference a document from the Orlando Association of Realtors, The Realtor's Critical Role in the Real Estate Transaction.  This is a document that lists 184 actions, steps, processes, and stages in a successful real estate transactions.  These are steps usually taken by a full service real estate brokerage in which they would be entitled to fair compensation.  The reason this list was prepared was the fact that surveys showed that many homeowners and homebuyers were not aware of the true value a Realtor provides during the course of a real estate transaction.  A prime example of this feeling is shown above by my agent's buyer.

There are 184 steps on this list, so I won't be going through all of them in this post.  But I absolutely encourage you to read the document.  Know each of these steps so well that you could state them the moment the question of your value is posed to you.  I would even put the list in my listing or buyer presentations to show your client why they should hire you. 

Here is a breakdown of the list to give you an idea of why you should read it:

• Pre-Lising activities that include anything from searching for comparables to searching public records for deed restrictions and zoning.
• Listing appointment presentation that includes things activities like discussing the sellers goals and presenting a strategic marketing plan.
• Once a property is under a listing agreement an agent will have to take steps to market the property such as measure the home and room dimensions, take photographs and/or video and compiling a list of completed repairs and maintenance items.
• Entering a property into an MLS system and syndicating that data to other websites.
• Processes included in marketing the property include creating print and Internet ads, installing a lockbox and sign, and designing and printing flyers and brochures.
• During the offer and contract, an agent with take steps that include preparation and conveyance of counteroffers as well as confirmation buyer's ability to purchase.
• The agent will also have to track the buyer's loan process, work through the inspection period, and work through any appraisal issues.
• Activities to set up the closing scheduling the closing with an attorney or title company, and getting all parties the information they need in a timely manner.
• And as always and most importantly comes the post closing follow up.

There is no doubt that a good real estate agent is well worth their fee and is a valuable resource for any buyer or seller.  Hopefully this will help you to convey that to your clients!

Brandon L. Penny
bpenny@fmrealty.com
http://www.facebook.com/fonvillemoriseydurham
(919) 402-1201