Strength in Knowledge

Being aware of a property’s attributes and flaws ranks among concerns for both buyers and sellers when looking for an agent. Helping buyers and sellers navigate the process of finding a new home or locating a buyer requires extensive knowledge of the process, the property, its neighborhood and the market. Top producers keep track of all of these disparate facts and know how to use them to their advantage.

According to NAR, 63 percent of all buyers said that an agent helped them understand the process, and 59 percent stated that they pointed out flaws or features that had gone unnoticed. Forty-eight percent said that their agent improved their knowledge of the neighborhood and negotiated better contract terms for them, while 41 percent said the Realtor provided a better list of service providers. For 39 percent, the agent negotiated a better purchase price. Agents shortened the search time for 32 percent of buyers, and 22 percent said that their Realtors expanded their search area and improved their list of potential mortgage lenders, respectively. Sixteen percent said that their agent helped them narrow their search area.

When sellers were asked what they wanted most from their agents by level of service, 23 percent said help marketing their property to potential buyers, 20 percent wanted assistance selling within a particular timeframe, 19 percent wanted help with competitive pricing and 14 percent said they wanted help finding a buyer. Another 13 percent wanted their agent to help find ways to improve their homes so that it would bring a higher price. Three percent wanted help with paperwork, inspections and preparing for settlement, and 2 percent needed the agent to help them see other homes already for sale.

Give Consumers Room

Dooley brings her knowledge of the market and the area to every open house she holds, but she also has the confidence to let the property speak for itself.

“Any time a new buyer comes into one of my open houses, I provide them with a few key points regarding the house and give them the ability to look about the house freely,” Dooley said. “I try to provide some added insight into the house and the general marketplace before they leave, but I let the information and the data speak for itself. If they want more, they know they can come back to me. I think you have to keep a little bit of a distance with people at an open house, but people always remember if you provide them with one or two key pieces of information.”

For DuBray, status as a top producer helps her when she’s preparing for an open house. “When they’re doing an open house, the top producers have confidence because they already have knowledge of the market. They also have some respect from people because people know their names and listen to what they are trying to help them accomplish.”

Reputation and Respect

According to the NAR report, 23 percent of buyers rated an agent’s reputation and their honesty, respectively, as the most important factor for picking a Realtor. The agent’s status as a friend or family member was listed by 15 percent, and their knowledge of the area by 13 percent. Other factors receiving consideration were whether the agent was a good listener, responded in a timely manner, was accessible at all times due to use of technology, was affiliated with a particular firm and possessed certain professional designations.

An agent’s reputation was listed as the most important factor in choosing a Realtor by 36 percent of sellers. The agent’s honesty and trustworthiness was chosen by 19 percent of sellers, followed by knowledge of the neighborhood at 15 percent and the agent’s status as a friend or family member at 13 percent. Three responses tied at 4 percent: the agent’s caring personality, association with a particular firm and their commission.

Colagiovanni considers his reputation to be his most valuable asset as an agent, something that was taught to him by his current broker, Rick Druker, who has also served as his mentor for nearly 16 years.

“When I am stripped away of everything this business has afforded me, I am left with one thing – the most significant thing – which is my reputation,” he said. “Reputation is everything to me, and I continue to do everything to protect and preserve it.”

Anne DuBray’s first broker, Cathy Teague, always had her team come in on Sunday to make calls as a way of taking them out of their comfort zones and teaching them to handle rejection. She also learned the importance of reinvesting in her business and maintaining her integrity.

“There’s an initial investment, and if you invest a part of every commission back in advertising yourself or branding yourself, it will come back to you,” DuBray said. “The biggest thing is never compromise your integrity or your reputation, because they are almost impossible to get back.”