Real Estate Views from St Pete

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Changing Market? Think Consultant. Think Advisor. Maybe ACRE is the solution.

I blogged earlier about the changing market and your changing (hopefully) business plan. How are you adapting? How are your clients and potential clients adapting?

Increasingly, we are showing our clients a choice of less-than-desirable choices: lead the market and sell for less than you want/need; stay where you are; rent to reduce the monthly cash outlay.  These conversations lead us to a consulting role rather than an information gathering and providing role.  

Information is available in far more places and far more depth than it ever was. We're no longer Information Providers, we're advisors, we're consultants. More often than not, our suggestions are not to sell.  So, how do we thrive in this situation? By charging for our time and expertise, not just a % of a sale, if it occurs.

Look into Mollie Wasserman's ACRE designation.

Getting calls from  banks or investors asking for your opinion on a property or on local market conditions? Charge them by the hour or by the job.

We're in a market where knowledge, wisdom and professionalism are KEY. Maybe our business plan needs to change accordingly. 

 

Sharon Simms, Real Estate Agent selling homes in St. Petersburg, Florida, the Gulf Beaches and the Tampa Bay area.

12 comments • Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS • October 26 2007 06:52PM

Comments

Sharon - This does make sense.  I spend so much time researching and gathering data for people without getting paid, this would not be case in other industries.  Thanks for the link to ACRE

Posted by Jennifer Fivelsdal Rhinebeck Real Estate (Serving Dutchess| Columbia|Ulster Ctys (LIC. R.E. Broker JFIVE Home Realty LLC ) over 4 years ago
I have been reading Paula and Mollie stuff for a few years. They are smart and contemporary women who have been mentoring their peers for quite some time.  I didnt know they had this ACRE ..interesting .
Posted by Michele Connors, Broker in Charge (Coldwell Banker First Realty Morehead City) over 4 years ago
Sharon, I agree.  The trick for those of us working in this market is to develop a plan and program that presents us as an expert.  It's work, but it pays off.
Posted by Kate Bourland Debt Settlement - Mortgage Acceleration (Financial Solutions Inc.) over 4 years ago
Sharon, I think you are absolutely correct.  In an ever changing business, you have to be willing to change and adapt or get left behind.  Change is not always easy but it is necessary in this business.
Posted by Huntsville Alabama Real Estate Agent, Kimberly Grant (Exit Leon Crawford Realty) over 4 years ago
I really got a lot out of Mollie's book.  Thanks for the reminder about the designation-it makes great sense.
Posted by Leigh Brown Charlotte NC Broker/Owner (RE/MAX Executive Realty) over 4 years ago

Jennifer - think positively.  Instead of the typical, "Oh, that's ok" response to a research request (in hopes of future business) be bold and charge for your time.

Michele - they've capitalized on a new business plan. Hope you do look into their designation.

Kate - We ARE experts - we just need to let the world know that.

Kimberly - that's exactly what it says in the book, "Who Moved My Cheese?" 

Leigh - glad you've read the book. You might as well get the designation - it shows clients that you've gone to extra step to get additional knowledge to serve them. 

Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 4 years ago

At least here in PA, you have to have your Broker's license in order to be a "consultant" - at least to use the title.  I know, nothing to do with you wonderful post, but I thought it was worth mentioning. 

I've thought hanging my licenses as a broker and just doing consulting...  Even though I have significant experience, I think I need more.

Posted by Judi Glamb, Associate Broker, ABR (Coldwell Banker Hearthside) over 4 years ago
Judi - it's always interesting to know the difference in state laws. In Florida I think anyone can call themselves a Consultant.
Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 4 years ago
I've already embraced the consulting strategy with some success.  I'm still making sure that I am covered legally but I have collected upfront dollars for marketing and a few other services.  We have even had classes offered by our brokerage on the consulting model so they approve of it if we take it on.  Every time this subject comes up on AR there are the folks for and those against.  For some reasons agents equate consulting services with limited service and it just isn't true. 
Posted by Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (CJ Realty Group, Inc.) over 4 years ago
Cindy - glad you've found success. You're right - it's not at all true that consulting = limited service.
Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 4 years ago
Sharon - I am pretty sure you are right - about anyone calling themselves a consultant in our state -
Posted by Bill's Blog - Florida Realty Professional - AHWD (Charles Rutenberg Realty) over 4 years ago
Barbara Jo - it's certainly important for the client to check out the credentials and expertise of any consultant.
Posted by Sharon Simms St Pete FL - CRS CIPS CLHMS RSPS (ALVA International, Inc.) over 4 years ago

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