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May 25, 2010

Upping your Credibility Quotient

by mark mclean

 I’m about to make a rather bold statement; the success of your brokerage depends on your credibility, more specifically the credibility of your agents. Okay, this is a pretty simplistic statement, but it begs the question; what defines credibility? In simple terms one could define credibility as delivering on your promises. But there is so much more to it. Being credible also means being trustworthy. In the real estate industry, developing trust is a difficult job. Let’s face it, there are a few people in the business who are lured by the possibility of easy money. They make deals at all costs, often with little concern for their clients. They are the ones who make it difficult for the rest of us. While there are processes in place to penalize them, often the damage is done and good realtors get painted with a negative brush. In this week’s office meeting, I spoke of the challenges of maintaining a good reputation.

In an ever changing marketplace, the survival of your brokerage will be decided by how your agents perform. Therefore it is critical to constantly reinforce a very simple message; Hold yourself to a higher standard, return calls promptly, be honest, walk away from bad deals, treat other agents with fairness, stay educated and informed on market conditions, network positively with others, treat your business as a business, and commit to working 40+ hours a week.  Performing these “tasks” ups your “Credibility Quotient”. People will take notice. Your agents will gain a reputation of being consummate professionals. The public will want to engage you, and other agents will beat a path to your door. 

As a broker owner or manager, the work you do at defining your “brand” will also play a significant role in raising your Credibility Quotient. It is important, therefore, to be able to back up claims about your success with easily accessible evidence.  The best way to do this is to include recommendations from the public in your marketing materials or your website. While real estate companies are often defined by the agents that work for them, I believe it is increasingly important that your company, as a whole, develop a personality that the public can identify with. Your voice, be it online or through a personable and engaging spokesman, must deliver key information that the public can rely on.  This can be achieved through successful blogging and public relations efforts. The end game should be to let the buying or selling public know that your company is involved. Regurgitating information about market conditions is fine but by doing so you are just copying everyone else.  To develop a strong brand, you have to create content that is different and unique. In other words…… Take a stand and be consistent.

With the incredible choice that exists in the real estate marketplace, the strength of your brand is very important, and if you are a leader, rather than a follower, your company will reap the benefits. Increasing your Credibility Quotient is a daily job. It plays out in everything you do. But remember that it doesn’t happen over night.

The opinions expressed in this article do not necessarily represent the views of Bosley Real Estate Ltd.

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