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Posts tagged ‘real estate’

2
Feb

Too good not to post.

zero-talent

Think you don’t have what it takes to be an awesome Realtor? Here are ten things that escape many agents I have worked with in the past. Not only do these ten points require no real talent, they are also free. So really there is no sense spending money on SEO if you can’t deliver on most (or all) of the traits on the list. Boom!

Thanks @sethprice for sharing

Mark McLean is the Broker/Manager at the Bosley Real Estate Queen St W office, the Immediate Past President the Toronto Real Estate Board and a director at the Ontario Real Estate Association. The opinions expressed here do not reflect the opinions of TREB, OREA or Bosley RE.

30
Jan

What’s Your Five Star Rating?

testimonialsI have just returned from a conference in Banff, Alberta called the Banff Western Connect. I’ll fully admit that I am a bit of a conference junkie. I love to learn. I love to network and I love to swap success stories with other brokers. At the end of the day I always walk away with valuable insights and ideas that I can bring back to my board or my office. This blog post focuses on the importance of on-line reviews.

My latest brush with a review system came just a few weeks ago. I had to run into Loblaws for a few things. Everything ran smoothly. I grabbed what I needed, I self scanned everything, bagged and paid for my purchase and was in and out in 10 minutes. As I left the store there was a stand with a sign asking me to rate my experience by pushing one of four buttons. So I did. Because I found everything I needed and didn’t wait in line, I gave the highest rating possible. No fuss, no muss. But that simple button system does so much more than track your experience. Behind the scenes it is taking the simple data that the customer is inputting and adding on layers upon layers of data that already exists. Traffic in the store, time of day, weather conditions, number of staff on duty, etc, etc. All the data collected gets mashed together and helps the store deliver a better experience…and isn’t that the point of a review system?

It’s not that much different in the real estate space. It’s probably not nearly as complex but the data is still valuable. Here is the problem however; the collection of data is so much harder to get. To really understand how a client enjoyed their real estate experience one needs more information than one can get by pushing a simple button. If I am really interested in knowing how I did I want to ask about a hundred different questions; Did I show up on time? was I knowledgeable about the market? did I answer questions clearly and affectively? The list goes on. The problem is that clients are not likely to sit through countless minutes answering questions about their experience. One quick solution is to whip out your handy smart phone and record the happy clients telling you how great you are or what an awesome job you did. On line agent reviews are a joke. The reviews don’t mean anything and because the reviewers are anonymous, anyone can write reviews including your friends (who leave great reviews) and competing agents (who leave bad reviews). On top of that, there is no business model that supports the financial an online agent review website.

The unfortunate problem is that we live in an economy that relies on reviews and ratings. From the simple “like” button on Facebook to Yelp to Uber and AirBnB (where reviews go both ways). We know that 51% of Canadian Millennials surveyed say that online reviews, comments and feedback are the largest influence on their buying behavior, yet the flip side to the coin is that the internet has created a population of people with attention deficit disorder so those reviews have to stand out in order to be recognized and the process of getting that elusive five-star rating has to be quick and easy. I believe that over the next few years the key to success in any business will come from unlocking the keys to an honest, fast and easy rating system. Recently I took a trip to Iceland. I posted a ton of pictures from my trip and made a lot of positive comments about the country. Now my friends are messaging me about future travel plans there and want to know what places to go to, where to eat and stay. In effect my friends are looking for a referral of sorts.

So, is it possible to create a review of your services that comes off as truly authentic, and trustworthy? From the start we know that real estate is a referral business, but once you get recommended, that potential client is going to check you out online to confirm that you are the real deal. This is where the one-two punch needs to happen. Recognize that you only have a few seconds to make the connection so testimonials and ratings need to be above the fold in order to work, not buried on an afterthought tab at the bottom.

Mark McLean is the five-star Broker/Manager at the Bosley Real Estate Queen St W office, the Immediate Past President the Toronto Real Estate Board and a director at the Ontario Real estate Association. The opinions expressed here do not reflect the opinions of TREB, OREA or Bosley RE.

11
Jan

Thinking About a Brokerage Change? Include This One Question in Your Interview

one-questionTis the season. The start of a new year things are a little slow and agents are laying out plans to increase their business in 2017. If the previous year was less than spectacular many agents look inward to analyse their performance, where they spent money, what worked and what didn’t and formulate a plan for improvement in the new year. As I mentioned in a previous blog, the business plan can go along way in planning what the year ahead will look like. Then there is the other group of agents who blame their bad year on external forces like the market, bad luck or even their brokerage. Their knee jerk reaction is to switch things up with radical ideas like hitting a yoga retreat for a couple of weeks to get realigned or, heaven forbid, uproot their lives and change brokerages. Now I’m not saying a move isn’t a bad idea. There are other factors at play but if you are making a move it has to be for the right choices.
As a manager for nearly 10 years I have interviewed more than my fair share of agents, both new and experienced, and I can safely say there is one question no one has asked. ‘What happens when I get a RECO complaint? What is the company policy and how will you help me if I am right or wrong?’ You see, no one goes into the real estate business expecting to have someone file a complaint against you, so naturally it’s not on your radar. However, as the old expression goes…if you are going to make an omelette you need to break a few eggs. So be prepared.
The reality is that most RECO complaints that come by my desk are frivolous at best. They are either misunderstandings that could be resolved with a quick phone call or are as a result of an irate agent or member of the public who felt they were mistreated or lied to. But innocent or guilty a RECO complaint puts you on the defensive right away followed closely by a sinking feeling of shame which moves to anger and finally frustration. Now you have to deal with it. Full stop. Oh and it will drag on for years and just when you think they forgot about you, a letter comes asking for more information.
Recognizing that over the course of your career you are likely to do thousands of deals. Take it from me…you will get a complaint. It is inevitable. So it should be one of the first questions you should ask a manager at a potential brokerage office. In my experience, there is no standard for handling complaints. Here are just a few I have experienced; One company I knew had a very simple strategy… if you get a complaint, you are fired. One manager of a large company asked the complaining agent to write out the details of the complaint to him, and then he passed it to his agent with a simple message…deal with it. Still another had a lawyer on retainer and the agent simply pays a set fee to handle the complaint, while other companies, like ours, have legal counsel on staff.
As silly as it sounds, there is a belief that the new shiny new companies out there have great ideas, fancy marketing materials, and promises of real estate glory, but if they cannot support you through the inevitable RECO complaint process you may regret your decision down the road.
Mark McLean is the Broker/Manager at the Bosley Real Estate Queen St W office, the Immediate Past President the Toronto Real Estate Board and a director at the Ontario Real estate Association .The opinions expressed here do not reflect the opinions of TREB, OREA or Bosley RE. Currently Mark is writing this post from a yoga retreat in The Bahamas.

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