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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  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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Ambassador
1,265,150
William Johnson
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
RE/MAX Associates

Hi Pat, a very good post and I agree with all your points. I also think quantity follows quality. Leavng that client so pleased that they are excited to tell everyone they come in contact with. 

September 14, 2011 01:06 AM
Ambassador
1,028,438
Celeste "SALLY" Cheeseman
RA, CRS, Hawaii Mililani Oahu Real Estate
Century 21 Liberty Homes

And absolutely the best quality points indeed! Success starts within....everything else follows!

September 14, 2011 01:12 AM
Rainmaker
521,162
Maria Morton
Kansas City Real Estate 816-560-3758
BHG Real Estate - Kansas City Homes

And the agent and clients see each other after the transaction. Yes, Pat, quality trumps quantity.

September 14, 2011 01:19 AM
Rainmaker
1,590,387
Dorie Dillard
Realtor-Canyon Creek- NW, Austin TX Homes For Sale
Coldwell Banker United Realtors

Good morning Pat,

Their is no question quality trumps quantity. When quality service is delivered the word spreads fast and then you always experience quality in quantity transactions :).

September 14, 2011 05:09 AM
Rainmaker
1,564,389
Debbie Gartner
The Flooring Girl - Westchester hardwood flooring
Floor Coverings International Westchester NY & Stamford CT

You are so right.  If you focus on being a stellar agent for your client, everything else will fall into place.

September 14, 2011 05:58 AM
Rainmaker
537,481
Holly Weatherwax
Keller Williams Realty, Northern Virginia
The Momentum Group

This is why I started my own firm. I wanted to be measured--by me-- on how well I served my clients. I did not want to measured in sales numbers. I have to say that I have never regreted this focus! Good service means repeat business and lifelong friendships.

September 14, 2011 07:04 AM
Ambassador
1,722,857
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Palm Harbor & Dunedin FL Residential Real Estate
Charles Rutenberg Realty

This is indeed a great list. Treating every client as if they are the ONLY client you have is so important!

September 14, 2011 08:25 AM
Rainmaker
273,333
Carol-Ann Palmieri
"Cal" the Real Estate Gal
RE/MAX Executive Realty, Al and Cal Realty Group

Hi Pat.    Can I just see that managing brokers face when you said that!   LOL.   Quality will bring Quantity without a doubt!

September 14, 2011 10:06 AM
Rainmaker
614,848
Sandy Shores Broker, Melbourne Real Estate
Brevard County FL Real Estate
M & M Realty of Brevard Inc.

Hi Pat, I agree, that quality is superior to quantity.  If you take care of your client from beginning to end, perfectly, then the quantity will take care of itself in time. That client will tell others.  Great post!

September 14, 2011 11:48 AM
Rainmaker
508,110
Mitchell J Hall
Lic Associate RE Broker - Manhattan, NYC
The Corcoran Group

I've always been about quality over quantity in everything. Fortunately I sell luxury real estate and my broker is number 1 in NYC.

September 14, 2011 12:24 PM
Ambassador
1,082,680
Bryan Robertson
Broker, Author, Speaker
Catarra Real Estate, Inc

I do a low volume business of mostly high-end homes so I'm able to focus on providing better communication and updates that some agents.  I think my reputation is solid because when I'm working, it shows all the way around.

September 14, 2011 12:26 PM
Rainmaker
849,457
Lottie Kendall
Serving San Mateo County and San Francisco
Today | Sotheby's International Realty

A great focus, Pat - quality over quantity!

September 14, 2011 01:13 PM
Ambassador
291,959
Linda K. Mayer
Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST
License # 01767321

My sentiments exactly!

September 14, 2011 07:36 PM
Rainmaker
567,772
Hella Mitschke Rothwell
Hawaii & California Real Estate Broker
(808) 226-1095 or (831) 626-4000

I agree. With quality, quantity follows. Nice simple words to work by.

September 14, 2011 10:28 PM
Rainmaker
501,501
Christine Smith
Exclusive Buyer Agent & Attorney, Canton, MA
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com
Pat....not sure how this one is not featured yet. I completely agree. Quality is much more important to me. I think personalized service and attention to detail are at the top of the list of what I provide to my clients.
September 15, 2011 07:22 AM
Rainmaker
162,738
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
283,759
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
543,701
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
584,340
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
1,276,623
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

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