Howard Brinton of Star Power Systems posed that question at the recent TriplePlay 2000 Convention in Atlantic City. Realtors from New Jersey, New York and Pennsylvania were advised to become counselors to home buyers and sellers and to become better negotiators to compete in the future.
Consultative selling will prevail in the future, according to Brinton. If you are using the same dialogues you used ten or twenty years ago, you need to update your skills. Brinton suggests that you shouldn't try to get the buyers and sellers to change .. you have to be the one to change.
When you first start counseling the customer, ask the question, "What would it take to make this a "10" experience? a 10+ experience?"
Brinton told the audience that the time to find out the about a customer's expectations and if their expectations are realistic is at the outset of the relationship. Ask the customer, "What do you feel you have the right to expect from me as your real estate consultant?"
Brinton told the audience that Fee-For-Service business models will become prevalent and asked the audience which of them brought a fee-for-service menu to their listing presentations -- only a few hands went up in the full- house crowd.
Other predictions about the new business models include that auctions will become common and one-stop shopping will be the key to your success. Be high touch/high tech/concierge OR faster/better/cheaper, according to Brinton. "It's My Pleasure" is on his company screensavers to remind staff to use the phrase used at the Ritz-Carlton Hotels often to their customers.
Following up on the faster/better/cheaper theme, Brinton asked who in the audience were seeing downward pressure on commissions. Again, only a few hands went up. But, "It is coming", he said, and advised the audience to go to www.gostarpower.com/howardsaid to see a breakdown of tasks and time requirements for alternative marketing such as fee-for-service.
Brinton said the job of the counselor is to inform and assist home buyers and sellers. His tips include telling customers every time you visit them or talk with them what will happen next. He suggested that you always underpromise and overdeliver. An example of a company that practiced this told the home sellers that their home would be on the Internet within twenty-four hours and called an hour after taking the listing to tell them it was on the web.
Competition today is not from other Realtors, according to Brinton -- it is from other companies providing services such as FedEx and American Express. Brinton's staff talks about their consumer experiences in the world outside out real estate so that they can focus on what has pleased and displeased them. Brinton suggested that the audience read Tom Peter's book, The Pursuit of Wow!
Brinton cited examples of what some of the top agents around the country are using to elevate their customer service. Provide a welcome sign in your office, greeting customers - one company uses a butler statue with the sign to greet buyers and sellers and the customers say want their picture taken with the butler!!
Don't just ask if your customers or clients want a drink, offer them a laminated menu and let them choose from coffee, water, etc.
How about sending buyers a personalized invitation to the closing of their home?
Offer a 'handy man' through your "extra services" division - provide a 2-hour free labor service of Handy Andy - you can generate 50-70K referrals in business in what costs about 5K to perform.
nice to get the house ready for sale.
Give your buyers "Guest Passes" to take in to builders and FSBOs."
In summary, consultative selling will prevail in the future. Use questions instead of statements when conversing with customers and clients - asking, instead of telling, gives better results.
Pat Rioux
