Are we too focused on quantity of transactions? What about quality?

By
Real Estate Agent with Evers & Company Real Estate, Inc. AB95346

Back when I worked for a big box brokerage, we had quarterly meeting with our managing broker to discuss our goals, and how on track we were in meeting them.

Then one year, I told my broker that I wanted to set my annual goals in terms of qualitative markers, not quantitative.

She looked at me like I was nuts.

And perhaps I was - and still am.  But I am a firm believer that when your focus is on the quality of each transaction, that the quantity will take care of itself.

So what does a high quality transaction look like?  It's probably different for each of it, but I think there are some elements common to all sales that go well:

  • The agent has great communications with her client and the other professionals in the transaction.
  • She listens to understand what they want and need, then fullfils them.
  • The agent answers her phone when it rings when it's at all possible, and when it is not, she returns calls promptly.
  • The agent stays on top the deadlines in the transaction, including the removal of the contingencies for inspections, appraisals and financing.
  • It all ends with a happy settlement.

When you are at a listing presentation or new buyer interview, you might want to think about the emphasis you put on both quality and quality in your real estate practice. 

Now, it's great to sell a whole bunch of houses and condos.  But it's even greater to do it in a way that gains you a reputation for being a class act. 

 

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Re-Bloggged 1 time:

Re-Blogged By Re-Blogged At
  1. Suzanne McLaughlin 09/15/2011 03:33 PM
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Topic:
Real Estate Sales and Marketing
Groups:
Diary of a Realtor
Realtors®
Tags:
quality vs quantity in real estate

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Rainmaker
162,614
Reba Haas
Team Reba, CDPE
Team Reba of RE/MAX Metro Eastside www.TeamReba.com

I'm with you on the qualifying aspect of deals and not just volume. If you have tons of deals but they're all going sideways because the quality of the deal is poor, then it's like the proverbial hitting your head against a brick wall syndrome.

September 15, 2011 03:44 PM
Rainmaker
281,143
Nancy Murray
Your NICE Real Estate Agent in Colorado Springs
Keller Williams Clients Choice Realty, Colorado Springs, CO

Pat, what great advice.  I do all these things, but now I need to look at them from the angle of "quality."  Thanks for the great post.

Nancy

September 15, 2011 05:43 PM
Rainmaker
509,462
Wayne Johnson
San Antonio REALTOR, San Antonio Homes For Sale
Coldwell Banker D'Ann Harper REALTORS®

Patricia-If the quality could be more easily seen as a metric it would be used more. But the quantity is such a part of business, particularly sales, it's tough to see anything else becoming the key measure of success.

September 15, 2011 09:14 PM
Rainmaker
528,161
Don Sabinske
Sabinske & Associates Inc.
Don Sabinske, Sabinske & Associates Inc.

Pat, I saw this because of Suzanne McLaughlin's reblog.  I don't know how I missed it, but congratulations on another thoughtful and thought-provoking post.  Now, will everyone just pay attention?

September 15, 2011 09:46 PM
Ambassador
1,268,960
Loreena Yeo
Realtor® | Frisco TX Community Ambassador
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co.

That's actually a great way to look at it. Once I decided to count by the number of families I touch, I no longer feel as much pressure as I set on myself as compared to meeting "numbers".

September 16, 2011 09:56 PM
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Patricia Kennedy

For Your Home in the Capital
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Additional Information

Pat Kennedy -- author of The Irreverent Guide to Real Estate -- gives you a look at life on the streets as a real estate broker in our nation's capital. And her blog is peppered with great advice combined with humor!