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. 

 

close

Re-Blogged 1 time:

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

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Ambassador
1,269,429
William Johnson
RE/MAX Associates - San Diego, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

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 #9
Ambassador
1,028,438
Celeste "SALLY" Cheeseman
Century 21 Liberty Homes - Mililani, HI
RA, CRS, Hawaii Mililani Oahu Real Estate

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

September 14, 2011 01:12 AM #10
Rainmaker
521,873
Maria Morton
BHG Real Estate - Kansas City Homes - Kansas City, MO
Kansas City Real Estate 816-560-3758

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

September 14, 2011 01:19 AM #11
Rainmaker
1,597,237
Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

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 #12
Rainmaker
1,569,811
Debbie Gartner
Floor Coverings International Westchester NY & Stamford CT - White Plains, NY
The Flooring Girl - Westchester hardwood flooring

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 #13
Rainmaker
538,431
Holly Weatherwax
The Momentum Group - Reston, VA
Keller Williams Realty, Northern Virginia

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 #14
Ambassador
1,724,645
Barbara-Jo Roberts Berberi & Corinna Birgit Cromartie
Charles Rutenberg Realty - Palm Harbor, FL
Palm Harbor & Dunedin FL Residential Real Estate

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 #15
Rainmaker
273,862
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

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 #16
Rainmaker
616,841
Sandy Shores Broker, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County FL Real Estate

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 #17
Rainmaker
508,535
Mitchell J Hall
The Corcoran Group - Manhattan, NY
Lic Associate RE Broker - Manhattan, NYC

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 #18
Ambassador
1,083,022
Bryan Robertson
Catarra Real Estate, Inc - Los Altos, CA
Broker, Author, Speaker

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 #19
Rainmaker
852,034
Lottie Kendall
Today | Sotheby's International Realty - San Carlos, CA
Serving San Mateo County and San Francisco

A great focus, Pat - quality over quantity!

September 14, 2011 01:13 PM #20
Ambassador
293,239
Linda K. Mayer
License # 01767321 - La Verne, CA
Realtor, SRES, SoCAL, A REALTOR YOU CAN TRUST

My sentiments exactly!

September 14, 2011 07:36 PM #21
Rainmaker
568,430
Hella Mitschke Rothwell
(808) 226-1095 or (831) 626-4000
Hawaii & California Real Estate Broker

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

September 14, 2011 10:28 PM #22
Rainmaker
502,491
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA
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 #23
Rainmaker
162,738
Reba Haas
Team Reba of RE/MAX Metro Eastside www.TeamReba.com - Bellevue, WA
Team Reba, CDPE

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 #24
Rainmaker
283,899
Nancy Murray
Keller Williams Clients Choice Realty, Colorado Springs, CO - Colorado Springs, CO
Your NICE Real Estate Agent in Colorado Springs

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 #25
Rainmaker
545,931
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

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 #26
Rainmaker
588,026
Don Sabinske
Don Sabinske, Sabinske & Associates Inc. - Zimmerman, MN
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 #27
Ambassador
1,278,233
Loreena Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
Realtor® | Frisco TX Community Ambassador

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 #28
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the balloons to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Ambassador
2,372,100

Patricia Kennedy

For Your Home in the Capital
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the flag to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information