Trust Archives - REM https://realestatemagazine.ca/tag/trust/ Canada’s premier magazine for real estate professionals. Fri, 12 Jul 2024 15:18:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://realestatemagazine.ca/wp-content/uploads/2022/09/cropped-REM-Fav-32x32.png Trust Archives - REM https://realestatemagazine.ca/tag/trust/ 32 32 Five common website mistakes realtors make (and how to fix them) https://realestatemagazine.ca/five-common-website-mistakes-realtors-make-and-how-to-fix-them/ https://realestatemagazine.ca/five-common-website-mistakes-realtors-make-and-how-to-fix-them/#respond Thu, 11 Jul 2024 04:02:00 +0000 https://realestatemagazine.ca/?p=32780 Don't let these common realtor website mistakes ruin your chances of converting visitors into clients. Discover easy fixes to improve your website's credibility and conversion rate

The post Five common website mistakes realtors make (and how to fix them) appeared first on REM.

]]>

Now more than ever, people rely on the internet for just about everything — from shopping for products to reading reviews and looking for solutions to their problems.

For you as a real estate agent, this means that potential clients are just a click away from finding your website and choosing you to help them buy or sell their homes. 

But here’s the real question: is your website doing its job of converting visitors into clients, or is it pushing them away?

Here, we’re diving into the five most common website mistakes that can hurt your credibility and make it difficult to get those conversions. Plus, we’ll also share some easy fixes that will transform your website into a powerful tool that converts clients on autopilot. 

 

1. Typos and grammatical errors

 

First impressions matter, and nothing undermines your professionalism like typos and grammatical errors on your website. Although no one deliberately leaves errors behind, they can still erode trust with potential clients, leaving them thinking, “This realtor doesn’t pay enough attention to detail. How could I possibly trust them with the biggest investment of my life?”

Quick fix: Luckily, this mistake is easy to avoid. Consider using a tool like Grammarly to scan for errors or have a trusted friend or colleague read your website copy with fresh eyes before you hit publish. 

 

2. Headlines that aren’t optimized

 

Most people have short attention spans, meaning they’re more likely to skim or scan your website instead of reading it in its entirety. This is why headlines are so important. Their job is to capture your readers’ attention and encourage them to delve deeper into your content.

If your website isn’t converting as well as you’d hoped, your headlines might be to blame. Headlines across your site should be descriptive and compelling, giving readers the information they need to decide if your services are right for them.

Quick fix: Visit each page of your website and ensure it’s skimmable — meaning readers know exactly what you do and how you help just by reading your headlines. For example:

“Explore Expert Advice for Buying and Selling in [Insert City]” or

“Maximize the Sale of Your Home in the Least Amount of Time”

 

3. Failing to understand your reader

 

Your website copy should resonate with your target audience — the homebuyers and sellers looking for your expertise. Nothing will make a potential client click away faster than generic language that doesn’t speak to their needs, desires and pain points.

Your ideal client needs to know that you understand their experience and feel confident you have the solution they’re looking for before they move forward. This should be clearly communicated across your website. 

Quick fix: First, ensure you know exactly who your target audience is before crafting your copy. Once you’ve identified your target audience, write as if you’re addressing one specific person. This technique makes your writing more personal and relatable, helping readers feel understood and valued.

Use emotional language to connect with your audience on a deeper level. Address their concerns and aspirations directly. For example, instead of saying something generic like, “We’ll sell your home quickly,” try, “Selling your home can be overwhelming, which is why I promise to make the process as smooth and stress-free as possible.”

 

4. Poor user experience

 

A clunky or confusing website can be frustrating for visitors and drive them to leave the page before they even explore your services. Aesthetics matter, but functionality makes all the difference. Visitors expect intuitive navigation, fast loading times and a seamless experience across devices. 

Quick fix: Simplify your website navigation with clear menus and a logical page hierarchy. Optimize images and videos for fast loading speeds. Ensure your website is responsive across all devices, meaning it looks and functions well on phones and tablets as well as desktops. 

 

5. Neglecting your calls-to-action (CTAs)

 

So your copy sounds great and your reader is sold on your services, but without a clear call-to-action, your client won’t know the next best step to take to work with you. This is why you need CTAs to guide the client journey. 

Whether it’s contacting you for a consultation, signing up for your newsletter or viewing your latest listings, clear and compelling CTAs prompt action and help convert visitors into leads.

Quick fix: Review each page to ensure there’s a CTA that aligns with the page’s purpose. Use action-oriented language in your CTA buttons, such as:

“Contact Us Today,”

“Explore Our Listings” or

“Subscribe for Market Insights.”

 

Long story short: a well-optimized website is like having a member of your sales team available 24/7 to showcase your expertise and help potential clients feel confident in choosing you for their real estate needs. 

Take the time to review your website today for these common mistakes and implement these simple fixes. Doing so will ensure your website works effectively as a powerful tool for your real estate business.

 

The post Five common website mistakes realtors make (and how to fix them) appeared first on REM.

]]>
https://realestatemagazine.ca/five-common-website-mistakes-realtors-make-and-how-to-fix-them/feed/ 0
How to land high-quality client testimonials as a real estate agent https://realestatemagazine.ca/how-to-land-high-quality-client-testimonials-as-a-real-estate-agent/ https://realestatemagazine.ca/how-to-land-high-quality-client-testimonials-as-a-real-estate-agent/#respond Thu, 30 May 2024 04:03:44 +0000 https://realestatemagazine.ca/?p=31430 Follow this framework to leverage social proof that strengthens your brand's credibility, stand out from the crowd and attract more ideal clients with ease

The post How to land high-quality client testimonials as a real estate agent appeared first on REM.

]]>

As a real estate agent, establishing credibility and attracting new clients hinges on social proof — and nothing showcases your expertise quite like client testimonials. 

Testimonials serve as a valuable asset to your real estate business, providing a powerful differentiator that sets you apart from the competition. They not only validate your skills and professionalism but also offer tangible insights into the client experience you provide.

By proactively seeking feedback and encouraging clients to share their positive experiences, you demonstrate a commitment to excellent service while also creating a sense of trust from your community. Each testimonial is a testament to the satisfaction and enthusiasm of your clients, highlighting the value you bring to the real estate journey. 

Today, we’re sharing our proven process for securing high-quality reviews that give your ideal clients a glimpse into what it’s like to work with you. Plus, you’ll learn a unique approach to showcasing these success stories in your marketing to increase your impact, boost engagement and win over prospects.

 

Understanding that timing is everything

 

Knowing when to request a testimonial is crucial. For real estate agents, this is typically one to two weeks before or after closing. By making your request when your client is feeling positive about their experience with you, you’ll increase the likelihood of receiving glowing feedback. 

 

Providing guidance

 

The biggest obstacle to securing high-quality client testimonials is that individuals are often unsure of what to write in their feedback. The most effective way to combat this is to ask your client specific questions within your request. You can also encourage clients to mention details like the name of their city or particular services you provided to increase searchability on Google. 

 

Crafting the perfect ask

 

When requesting a testimonial, the goal is to ensure client feedback is as detailed and specific as possible (a generalized, one or two-sentence review isn’t likely to create a lasting impression). Be sure to ask your client to provide thorough descriptions of their experience — this helps future prospects visualize what it’s like to work with you.

Here’s a template tailored specifically for real estate professionals, based on what we use in our marketing agency when requesting client reviews:

“Hi [NAME],

We’re almost at/we’ve crossed the finish line!

I’ve loved working with you and I’m so grateful you trusted me to buy/sell your home. We’ve come so far together! It would mean so much if you had a few moments to provide your feedback on our time together and leave a Google review [LINK]. Or, if you’d prefer, you can send your review directly to me. Your words go such a long way. 

To make things easier, I’ve included some questions you can consider answering in your review. The more details you can provide, the better!

  1. What initially attracted you to work with me as your realtor?
  1. How did I assist you throughout the home buying/selling process?
  1. What specific aspects of my service stood out to you the most?
  1. If you were recommending my services to a friend/colleague, what would you tell them?

Thank you for your support!”

 

Showcasing your review

 

Once you’ve gathered your feedback, it’s time to share your review in your marketing. But it’s not enough to simply post a graphic and hope your ideal clients take notice. Instead, try swapping the usual client testimonial post for a story that paints a picture of the client’s real estate journey.

For example, you might highlight how you assisted a client in navigating a competitive market to secure their dream home or how you advised a homeowner on strategic renovations that boosted their property’s value, leading to a quick and lucrative sale. The key is to tell the story from the client’s point of view, demonstrating your ability to deliver tangible results and solve real-world challenges for prospects.

 

In a referral-based business like real estate, testimonials from satisfied clients are a highly effective marketing tool. Not to mention, they’re completely free. 

But remember, testimonials aren’t just about getting more clients and closing more deals — they’re about building trust and credibility within your sphere of influence. This means that the best way to land high-quality reviews is by ensuring a shining customer experience is your number one priority. 

By following this framework, you can leverage social proof to strengthen your brand’s credibility, stand out from the crowd and attract more ideal clients with ease.

 

The post How to land high-quality client testimonials as a real estate agent appeared first on REM.

]]>
https://realestatemagazine.ca/how-to-land-high-quality-client-testimonials-as-a-real-estate-agent/feed/ 0
Empire builders: The Stone Sisters’ masterclass in leadership https://realestatemagazine.ca/empire-builders-the-stone-sisters-masterclass-in-leadership/ https://realestatemagazine.ca/empire-builders-the-stone-sisters-masterclass-in-leadership/#respond Wed, 03 Apr 2024 04:03:40 +0000 https://realestatemagazine.ca/?p=29885 It’s no surprise why the Stone Sisters are so successful — they’ve built the systems, they follow them and they keep their agents accountable

The post Empire builders: The Stone Sisters’ masterclass in leadership appeared first on REM.

]]>

A big thank you to Tamara and Shannon Stone. After our original March feature fell through, the Stone Sisters — who we were going to feature later in the year — agreed to move up their interview and accommodate us at the last minute. That’s why our March feature and Backstage Pass Q&A for March is coming in early April. 

Ultimately, the story of the Stone Sisters in Kelowna is the story of innovation, adaption, trust in family and relentless focus. Tamara and Shannon Stone have turned their business into a Kelowna household name built on the power of relationships. 

Let’s dive into their story.

 

The early days — laying the foundation

 

“29 years. I got my license in 1995,” Tamara reminisced about her start in the industry. Both her mom and dad were already successful realtors. They didn’t want Tamara riding their coattails, so they made her a deal. She could shadow them for six months and then she was on her own.

She started shadowing them and doing what they told her for six months. It went by so fast that she didn’t even realize that six months had already passed. “I showed up as I had for the prior six months, dressed in my business suit, and I said, ‘Okay, so what are we doing today?’ and my dad said, ‘Your mom and I are going golfing. I don’t know what you’re doing but you’re on your own.’ I had no idea what to do. It took me five months to get a deal and I was literally starving.”

She started doing open houses every single weekend. “I would do two on Saturday, two on Sunday. And I did that every weekend, with the odd exception, for two to three years because that’s how you met people.” 

Between her network and open houses, she started to build a nice business for herself. For the first 10 years of her career, Tamara built a business on her own, separate from her parents. That’s when, in 2005, her sister Shannon decided to get licensed.

 

Trial-by-fire

 

Tamara made Shannon the same deal she got from her parents: get trained for six months and then you’re on your own. She’d learn the ins and outs of the business. After the six months though, Tamara wanted to take the month of August off, thinking she could leave her sister in charge of her business during one of the slowest sales months of the year.

As the old cliche goes, “If you want to get busy, book a vacation.” That month, with Tamara gone, Shannon did almost 40 transactions — more than one a day. There was no question that Shannon’s ability to handle a month like that after only six months in the business meant she’d be an invaluable asset.

So, they took a Tamara-led “Stone Team” and formed the “Stone Sisters.”

 

Adapt to thrive

 

From even the early days, the pair has focused on leading when changes are happening.

“The big thing I did when I started that was revolutionary and wild was get a website. It was the first real estate website in town and it was shocking to many, and cutting edge. We still own the original domain name, too,” recalls Tamara. 

With a renewed energy for the business, the sisters continued innovating and adapting. Shannon’s marketing background brought a lot of ideas to both marketing and client engagement.

Spend time talking to the Stone Sisters about the evolution of their business, and you realize quickly they’re proactive about change. They’re looking ahead to see what challenges are coming and they’re getting ready.

 

See change coming, come up with a plan, execute with purpose

 

In British Columbia, you’re no longer allowed to double-end a transaction, a change that was hinted at for a couple of years before it came into effect. If implemented, they realized this would have a massive impact on running a team where you often have a buyer’s agent sell the team’s listings.

They looked at what that might mean and they came up with a plan. Shannon got her broker’s license. When the change happened, they completely shifted their entire model, going from being the Stone Sisters at Re/Max Kelowna to forming their own sub-brokerage, Re/Max Kelowna Stone Sisters. 

Now, instead of a traditional team model, Shannon and Tamara run the brokerage and the agents run their own business, with the Stone Sisters providing services and coaching along the way. This way, they act as the designated agents for their clients.

The sisters were able to completely shift the model and not miss a beat. They don’t sit back and complain when change is coming — instead, they see it coming, come up with a plan and execute with purpose. 

 

Marketing that works

 

Shannon had a background in marketing when she joined and, with that, brought fresh ideas and promotional efforts. With Tamara’s experience and her sister’s background, they came up with regular ideas that brought real business. Things that few others were doing.

For example, in Kelowna, where many properties are sold to people from out of town, the team tracks not only the percentage of properties sold to out-of-town buyers but also where they came from. This informs their next steps when it comes to marketing.

This tactic worked well during a big Alberta oil boom when the pair noticed a lot of business coming from buyers in Fort McMurray. They had some connections there and set up a learning seminar about buying property in the Okanagan. 

They flew into Edmonton, got this little rental car and made the drive up to Fort McMurray. A client that worked up there told them, “Don’t show up in your white suits and be fancy to people. Jeans, beer and pizza.” 

So, they rented the back room of a Boston Pizza, bought pizza, wings and beer for everyone, and started promoting the Okanagan. Little did they know, due to the big boom and undersupply of housing in Fort McMurray, there weren’t even hotel rooms available. They had to make the drive back to Edmonton at 3:00 am.

But it was worth it. The sisters sold a tonne of properties to people there until the downturn in the oil industry.

Today, they go to cities like Vancouver, Calgary and Toronto because that’s where a lot of their buyers come from. They do group seminars and 1:1 consults with potential clients to promote their book on the Okanagan. 

Social media advertising plays a big role in making trips to cities where they don’t have brand recognition a success. The sisters invest in it and see a great return. In a market where almost 50 per cent of buyers come from out of town, the Stone Sisters regularly see over 70 per cent of their buyers come from elsewhere — a testament to the success of their marketing strategies. 

 

What you measure, grows

 

Nothing happens by accident at the Stone Sisters. Much like tracking where buyers come from, the team tracks everything in their business. They look at where leads originate to evaluate the success of each marketing channel they try, and then what percentage turn into clients. They monitor the volume of phone calls, emails, social media messages and every other way that people reach out to the team.

Aside from the volume and nature of inquiries, the number of showings, traffic to and time on the website, social engagement and everything else that helps inform their marketing and get a pulse of what’s happening is tracked.

And no fancy dashboards needed — the team tracks it all across simple Excel spreadsheets. They can tell you at any time exactly what’s happening in their business and where the trends are going.

At the volume of deals the Stone Sisters are doing (300+ annually), their business metrics can say a lot about the greater Kelowna real estate market trends as well. 

 

The white suits

 

Since my earliest days in real estate, I’ve known the Stone Sisters. They were presenting at a conference on negotiation the first time I saw them. At that conference and to this day, they often stand out by wearing white suits. In fact, their entire team wears all white — it’s their uniform.

I asked them about this because they do stand out when you meet them. It went back to a Re/Max conference they attended in Las Vegas. There were so many agents there, they wanted to find a way to stand out from the crowd. A way to make them more memorable.

The sisters went with white suits. Now, the entire team does and it’s become a signature look. If anyone on the team, and now at their sub-brokerage, goes out in the community for their business, they wear white. This has become an integral part of their branding. 

 

The ‘Buyer Book’

 

Early on, Tamara and Shannon created what they call the “Buyer Book” for their business. When they got leads, they’d print out the email, hole punch it and put it into a binder. Any time things were either quiet or they had some downtime, they’d open up the binder to where they left off and “shake the tree.” 

The sisters would call everyone in the book. When they finished, they’d start over, back at the beginning. They made handwritten notes to send by snail mail to people they had good conversations with, a practice they still do to this day. There were people in that book for 3-5 years before they ended up doing a deal with the Stone Sisters — a testament to their consistency.

Today, the team follows a very similar practice, leveraging Follow Up Boss as their CRM. With organic buyer leads coming in, they convert them at a rate of 23.5 per cent. (During our interview, without having asked them ahead of time to be ready with anything, they had all the data at their fingertips. Like I said, they track and monitor their numbers.)

The most impressive stat? They convert 94 per cent of the website contact forms for a home evaluation to in-person appointments. As of our interview on March 20, 2024, the team had received 78 home evaluation requests and had done 74 in-person appointments as a result. 

That’s how strongly they’re seen as experts. Tamara mentioned that early on in her career they tried a series of TV commercials. “They were light and fluffy, like Cinderella, the Stone Sisters. It wasn’t us doing it; it was someone else’s perception of us. It gave the impression of, ‘It’s so cute they dress the same.’ Now, we have a much more serious reputation.” 

 

A little bit ‘hardass’

 

The sisters admit they’re known for being a little bit “hardass” at times, as they put it. They’re serious about the business and they get the job done. They’re not afraid to tell their clients what they don’t want to hear, and they won’t take a listing if the client is unrealistic about the price.

This brand they’ve built since 1995 is a huge factor in their conversation rates. On top of that, they work the phones, send out automated emails and encourage everyone at their brokerage to make as many phone calls as possible.

They find that even young people, who are often derided for not wanting to be on the phone, regularly have great phone conversations with their team. And when things get slow or quiet for a time? Everyone is encouraged to “shake the tree” as they do with the Buyer Book but with people in their Follow Up Boss database.

 

Systemized success

 

Like our previous monthly features this year, Mark Faris and Alex Wilson, it’s no surprise after talking to them why the Stone Sisters are so successful. They’ve built the systems, they follow them and they keep their agents accountable. 

The sisters are looking ahead at what’s coming and getting ready to adapt. They’re closely watching the commission lawsuits with NAR in the U.S. and Canadian equivalents. Despite verdicts likely being a ways out, they’re ready in case of changes. 

No matter what happens, one thing is certain: they won’t be caught unprepared. 

 

The post Empire builders: The Stone Sisters’ masterclass in leadership appeared first on REM.

]]>
https://realestatemagazine.ca/empire-builders-the-stone-sisters-masterclass-in-leadership/feed/ 0
B.C. boards introduce new disclosure form for multiple offer situations https://realestatemagazine.ca/b-c-boards-introduce-new-disclosure-form-for-multiple-offer-situations/ https://realestatemagazine.ca/b-c-boards-introduce-new-disclosure-form-for-multiple-offer-situations/#comments Fri, 07 Jul 2023 04:02:11 +0000 https://realestatemagazine.ca/?p=22888 The form lists competing offers received, including the brokerage's name, and must be provided to all parties within one day of the seller's decision

The post B.C. boards introduce new disclosure form for multiple offer situations appeared first on REM.

]]>
In an effort to promote transparency and build trust in the real estate transaction process, three of British Columbia’s largest real estate boards will be implementing a new disclosure form for multiple offer situations.

The Real Estate Board of Greater Vancouver (REBGV), Fraser Valley Real Estate Board (FVREB), and the Chilliwack and District Real Estate Board (CADREB) will implement the form on July 17, requiring realtors and sellers to complete, sign, and share the form with all parties who made an offer on a property.

 

Balancing transparency and protecting privacy

 

The new “Disclosure of Multiple Offers Presented” form aims to address concerns raised by homebuyers participating in multiple offer situations by providing additional information about competing offers.

According to a news release from REBGV, the form will list each offer received by the seller and include the name of the real estate brokerage that submitted the offer on behalf of a client. The form will be signed by both the listing agent and their client and must be provided to all parties who submitted offers no later than one calendar day after the seller makes a decision.

The disclosure form will not include the price of the various offers nor the conditions or reasons behind the seller’s acceptance or rejection of a particular offer. The boards say this measure aims to protect a seller’s negotiating position in case the sale fails to complete after accepting an offer.

 

Addressing market realities and public demand 

 

Jeff King, CEO of REBGV, expressed confidence that the new form will bring comfort to prospective homebuyers, assuring them that every offer was fairly presented and considered. He stated, “The real estate profession believes that this change will help inform the public and build greater trust in the real estate transaction process — specifically in instances when competition and emotion run highest.”

Baldev Gill, CEO of FVREB, says the implementation of this new disclosure form follows extensive research and discussions by a committee of brokers and realtors in response to the record-breaking market activity experienced during the pandemic.

Gill adds, “By providing a record of the number of offers received, this change aims to increase buyers’ confidence in the process by demonstrating that their offers are always presented and considered by the seller.”

 

The post B.C. boards introduce new disclosure form for multiple offer situations appeared first on REM.

]]>
https://realestatemagazine.ca/b-c-boards-introduce-new-disclosure-form-for-multiple-offer-situations/feed/ 10
Re/Max named most reputable real estate company in Canada https://realestatemagazine.ca/re-max-named-most-reputable-real-estate-company-in-canada/ https://realestatemagazine.ca/re-max-named-most-reputable-real-estate-company-in-canada/#respond Wed, 05 Jul 2023 04:00:53 +0000 https://realestatemagazine.ca/?p=22801 According to Leger's 2023 Reputation Study, Re/Max was ranked Canada's most reputable real estate company

The post Re/Max named most reputable real estate company in Canada appeared first on REM.

]]>
Re/Max has emerged as the most reputable real estate company in Canada, according to the recent 2023 Reputation Study conducted by Leger.

The Canadian-owned market research and analytics firm evaluated the reputation of 299 Canadian companies across various sectors based on six core criteria. The six core pillars of corporate reputation measured in the study include financial strength, social responsibility, honesty and transparency, quality, attachment and innovation.

Each company is evaluated by more than 2,000 Canadians, with more than 38,000 Canadians surveyed in total.

Topping the list of Canada’s most reputable companies is Google, followed by Sony, Shoppers Drug Mart, Samsung and Canadian Tire. Re/Max ranked 79.

Re/Max’s reputation ranking also experienced year-over-year growth in 2023, improving by three points compared to Leger’s 2022 Reputation study.

“Behind every successful real estate transaction is a foundation built on trust,” says Christopher Alexander, president of Re/Max Canada. “We’re honoured to be recognized as the most reputable real estate company in Canada, and we look forward to continuing to help buyers and sellers achieve their real estate goals in this ever-changing market.”

 

The post Re/Max named most reputable real estate company in Canada appeared first on REM.

]]>
https://realestatemagazine.ca/re-max-named-most-reputable-real-estate-company-in-canada/feed/ 0
How to keep your trust battery fully charged https://realestatemagazine.ca/how-to-keep-your-trust-battery-fully-charged/ https://realestatemagazine.ca/how-to-keep-your-trust-battery-fully-charged/#respond Mon, 14 Feb 2022 05:00:40 +0000 https://realestatemagazine.ca/how-to-keep-your-trust-battery-fully-charged/ Real estate is a relationship-based business. And nothing degrades a relationship more than a lack of trust.

The post How to keep your trust battery fully charged appeared first on REM.

]]>
Real estate is a relationship-based business. And nothing degrades a relationship more than a lack of trust.

“Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships together” – Stephen R. Covey

Real estate can be incredibly frustrating at times, especially if your clients don’t fully trust you. Conversely, the smoothest transactions are the ones where your clients trust you completely and always follow your best advice.

But trust isn’t black or white. There are degrees of trust.

Tobias Lütke, CEO of Shopify, talks about the “trust battery” as a metaphor that helps you think about and visualize levels of trust.

Each time we interact with someone, we are subconsciously considering the level of charge in our trust battery and this reflects how we respond. This applies to all your relationships, including friends, family, colleagues, team members and clients.

Every time you have a positive interaction with a client, your trust battery gets charged. Conversely, seemingly insignificant negative events can quickly drain the trust battery.

For example, you promised to send your client some information, but you forgot. Or you were five minutes late for an appointment and your client is not a time-optimist like you are. (What’s a time-optimist? They overfill their days and don’t get things done.)

There are a thousand ways to drain a trust battery. These incidents may seem minor or unimportant to you. But if your trust battery gets drained too much, it can adversely affect an important future event.

For example, in my local market (Calgary), we are in the midst of the craziest seller’s market ever. Every good listing is selling immediately with 10 or 15 offers. I was involved in one with 28 offers recently.

So how do your clients react when you tell them they probably need to offer $81,000 over asking, as I did recently? How’s your trust battery with that client?

The above example just happens to fit the current narrative, but it’s always important to maintain a strong trust battery with your clients. How, you ask? Integrity? Of course, but integrity is just one of the components needed for a fully charged trust battery.

Think about this: Do you know anyone who is a good, honest, decent person (with high integrity) and also an awful Realtor?

Yeah, me too. They have the best of intentions, but high integrity alone does not make a great agent.

Skills do. Skills and experience and mindset and hard work. When you combine those attributes with high integrity, the result is a fully charged trust battery.

Regarding mindset, think about your primary focus. What drives you? Is it getting more leads to chase? Convincing more prospects to hire you? Collecting more commission cheques?

Or is it increasing your knowledge and skills in order to serve your clients better? If so, you already know that the commission cheques take care of themselves if you have the right attitude.

Confession time: I just heard about the concept of the trust battery on a Darren Daily episode, and it hit me like a ton of bricks.

Remember what Stephen Covey said? Here it is again, slightly abbreviated: Trust is the most essential ingredient in effective communication.

That means to be a great Realtor you must be a great communicator.

Luckily, fully charging the trust battery between you and your client and becoming a great communicator are 100-per-cent learnable skills.

The post How to keep your trust battery fully charged appeared first on REM.

]]>
https://realestatemagazine.ca/how-to-keep-your-trust-battery-fully-charged/feed/ 0
Survey says 9 of 10 consumers satisfied with Quebec real estate brokers https://realestatemagazine.ca/survey-says-9-of-10-consumers-satisfied-with-quebec-real-estate-brokers/ https://realestatemagazine.ca/survey-says-9-of-10-consumers-satisfied-with-quebec-real-estate-brokers/#respond Mon, 01 Nov 2021 04:00:44 +0000 https://realestatemagazine.ca/survey-says-9-of-10-consumers-satisfied-with-quebec-real-estate-brokers/ A survey among home buyers and sellers says the “vast majority” of consumers who worked with a real estate broker to sell or buy their property are satisfied with the services received.

The post Survey says 9 of 10 consumers satisfied with Quebec real estate brokers appeared first on REM.

]]>
A survey among home buyers and sellers, conducted in July by Léger on behalf of the Quebec Professional Association of Real Estate Brokers (QPAREB), says the “vast majority” of consumers who worked with a real estate broker to sell or buy their property are satisfied with the services received.

The satisfaction rate of sellers and buyers who used a broker for their real estate transaction is 89 per cent and 88 per cent, respectively. The success rate of property sales for sellers who retained the services of a real estate broker reached 89 per cent, up four per cent from a 2019 study.

“We are delighted with these very positive results, especially since they were obtained in the context of an overheated real estate market, which has increasingly challenged many buyers and sellers,” says Denis Joanis, QPAREB president and CEO. “This shows that brokers effectively carry out their role as advisors and that clients are fully aware of the many advantages of having a broker support and guide them when buying or selling a home.”

The survey also assessed the impact of the pandemic on Quebecers’ buying and selling intentions. Seventy-five per cent of respondents said that the health crisis had no impact on their real estate plans.

Ninety per cent of buyers and sellers agreed with the statement that “the broker was familiar with the laws and regulations related to the sale of a property”.

Asked if “the broker obtained the right price for the property,” 83 per cent of buyers and 89 per cent of sellers were satisfied.

“The broker took the time needed to explain each step of the process,” found agreement from  86 per cent of buyers and 84 per cent of sellers.

“The broker provided effective guidance and advice regarding the sale of the property,” gained satisfaction rates of 82 per cent of buyers and 86 per cent of sellers.

Among sellers, results were more favourable for transactions involving a real estate broker than without one.

The study was conducted in Quebec among 1,203 respondents between July 13 and 21, 2021. The sample size included respondents who were buyers or sellers of a residential property whose transactions were completed between March 2020 and July 2021.

The post Survey says 9 of 10 consumers satisfied with Quebec real estate brokers appeared first on REM.

]]>
https://realestatemagazine.ca/survey-says-9-of-10-consumers-satisfied-with-quebec-real-estate-brokers/feed/ 0
The foundation of every deal: Setting expectations https://realestatemagazine.ca/the-foundation-of-every-deal-setting-expectations/ https://realestatemagazine.ca/the-foundation-of-every-deal-setting-expectations/#respond Fri, 07 Aug 2020 05:00:51 +0000 https://realestatemagazine.ca/the-foundation-of-every-deal-setting-expectations/ Setting expectations can often mean the difference between an angry client and your biggest fan and are much like the foundation of a home.

The post The foundation of every deal: Setting expectations appeared first on REM.

]]>
Setting expectations can often mean the difference between an angry client and your biggest fan and are much like the foundation of a home. They’re the base from which you build and you can never assume they’re intact because even the smallest cracks can cause the whole thing to topple. It’s also one of the first things you should check if things go wrong.

Why, you ask?

Generally, people base their feelings and decisions off of their previously set expectations. A great example of this is waiting in line. If you’re told you have a 30-minute wait but it takes 60 minutes, you’re frustrated. However, if you’re told it’s a 90-minute wait, but then it only takes 60 minutes, you’re happy. Either way, it’s the same 60 minutes… just perceived a lot differently.

So, set yourself up for success with a great foundation by outlining the expectations your clients should have and then present them upfront.

The balancing act

This is where things can get a little tricky. You want to walk a fine line between setting realistic expectations and scaring them with every challenge that could arise. Often this is done with a pre-transaction kit that you can deliver to clients and go over with them in person (or on video meetings). Keep in mind, every agent and client are a little different, so cover the basics and try to keep it to communication preferences and schedule.

How you communicate with clients is an integral part of any transaction but it’s also a common failure point. Usually, the breakdown has to do with two items: what mediums you use to communicate with clients and your available schedule to do so.

The medium you use is important to make your clients feel comfortable as well as convey information effectively. For some types of communication there’s a single best choice on how you should deliver it, while others are more flexible and you could use a variety of mediums to stay connected. For those places where you have the option to use different mediums (like short form chat), ask your client what they’d like to use.

Now that you’ve catered to your clients’ preferred communication method, it’s time to set an expectation for your schedule and how quickly they should expect responses from you. While a lot of people believe being a real estate agent is a 24/7 job (and it surely feels that way sometimes), the most successful agents I know insist on having work-life balance.

If you correctly convey your schedule upfront, and ask for theirs, you can work out the best times for everyone. This can be as simple as saying, “I take Sundays away from real estate to be with my family. This is really important to me so I generally won’t be available to respond. If that doesn’t work for your schedule I understand and can recommend someone else. However, I do pride myself on being totally present for you when we’re working together. What times are you generally available?”

Buyer or seller requirements

Not all buyers or sellers come into a deal in the same situation. So, you’ll often need to set some expectations for things they’ll need to complete before you move into different phases of the deal. The most common example of this is requiring buyers to get pre-approved before going to view homes. However, this could be a longer list as buyers may need to get finances in order, or sellers may need to clean up the home before it is shown to the public.

Whatever the case, your best option is to explain why these requirements are in place, as most times that reasoning can inspire action. For buyers, explain how they could miss out on the home of their dreams because they aren’t approved in time. Or with sellers you can talk about how the price they’ll get for their home is significantly impacted by how it’s staged. Either way, that reasoning is critical in conveying your expectations to your client.

Timeline of the deal

This is often the most important thing you can cover with your clients because the sense of urgency created within real estate transactions manifest into unreasonable expectations and almost always leads to a disappointed client.

When you cover the timeline of the deal, make sure you include the events before and after the transaction process as well. You’ll want to mention communication again here, noting points in the process when you might be in frequent contact versus other times when you may not need to communicate constantly. This will help your clients understand what’s going to happen every day that they work with you and how you will communicate and push things forward in the background.

Offers / pricing and reductions

Whether you’re talking about the price of a seller’s home, or what is available for a buyer’s price point, it’s always a challenging and personal conversation.

If you set your clients up from the get-go to understand that price is a living, breathing factor in the deal, that conversation becomes much more fluid at every point in the transaction. Make sure you’re having this conversation with your buyers and sellers before you ever make an offer or have to adjust the price on a listing. This awareness alone makes people more receptive to making any changes necessary for a deal to be successful.

Hidden challenges

You can’t possibly predict everything that can go wrong in a deal. However as an experienced agent you probably know what kind of things will sink one. Helping your clients understand what can impact the speed and success of a deal will ensure they don’t get frustrated or caught off guard if and when something doesn’t go as planned.

And then you might do everything right and have the transaction going along smoothly…. but your buyer or seller does something to unknowingly impact the transaction and suddenly the deal falls apart.

It’s not always within your control what happens, even if your own client happens to be the instigator. Reviewing how your clients can help make a deal successful is important but making sure they understand that their actions can also have a negative impact is the difference between a sale and a lost client.

Services you do/don’t provide

Just like you’re telling the client what you’re responsible for, it’s also important to outline where you’ll be handing the deal off to other professionals. If a mortgage broker, lawyer, inspector or any other professional is needed, the client should understand that so they know that 1) you as the agent are not responsible for all duties in the transaction and 2) if anything goes wrong during those times, their perception of your service will not be damaged because they understand a third party is involved.

Fees

When it comes to fees, you need to make sure you cover any fees associated with the deal, as well as your own fees as an agent. It’s amazing how many stories I’ve heard about deals falling through because of an unexpected fee (for a small amount of money). This usually starts with a client saying, “I don’t understand why I’m paying…” So avoid that at all costs and make sure you outline all the fees they may come across, including yours.

I know, talking about your fees is one of the toughest topics to cover and there are a ton of different strategies for how to do it. Whichever strategy you choose, I tend to think you can use your expectations as a basis for your fees, especially if you’ve outlined your expectations correctly and you’ve shown them your full value and everything they can expect from you.

Putting it down on paper

It’s impossible to manage every expectation people have but as a real estate agent the more you give your clients on paper and the more you talk to them (and really have conversations with them) the better off all parties are going to be in the end.

Early on I mentioned a pre-transaction kit, and now that you understand the major categories where client expectations might not be aligned with reality, you’ll want to create your own resource that outlines what the real estate process is actually like, what they can expect throughout the timeline, what challenges could arise and how you’ll deal with them if they do.

Whether it’s a sale or a purchase, give your clients an actual in-hand resource they can refer to at any time. This saves so much time in unnecessary communications back and forth about things you’ve previously reviewed with them, and immediately reduces buyer and seller stresses the moment they have that reference in their possession.

No matter which resources you give your clients, or how early you’re able to set expectations with them, the key to tying it all together is following through with every single expectation that you set. When you do all these things properly it builds a level of trust with your clients that cannot be replicated with any other thing you do – marketing, closing gifts, client appreciation or otherwise. And trust is the best and surest way to drum up repeat business and referrals my friends!

The post The foundation of every deal: Setting expectations appeared first on REM.

]]>
https://realestatemagazine.ca/the-foundation-of-every-deal-setting-expectations/feed/ 0
How to build trust with skeptics https://realestatemagazine.ca/how-to-build-trust-with-skeptics/ https://realestatemagazine.ca/how-to-build-trust-with-skeptics/#respond Thu, 06 Aug 2020 05:00:48 +0000 https://realestatemagazine.ca/how-to-build-trust-with-skeptics/ You’ve probably heard that when you first deal with potential customers, you should share your elevator speech. I’ve found most of these verbal teasers of what you offer actually reduce trust.

The post How to build trust with skeptics appeared first on REM.

]]>
You’ve probably heard that when you first deal with potential customers, you should share your elevator speech. In reality, I’ve found most of these verbal teasers of what you offer sound so contrived that they actually reduce trust. They often come across as trying too hard.

That’s why in this short video I share a different way of earning trust; both with current and potential customers.

The post How to build trust with skeptics appeared first on REM.

]]>
https://realestatemagazine.ca/how-to-build-trust-with-skeptics/feed/ 0
How to avoid the universal law that is hurting your reputation https://realestatemagazine.ca/avoid-universal-law-hurting-reputation/ https://realestatemagazine.ca/avoid-universal-law-hurting-reputation/#respond Thu, 10 Aug 2017 04:00:36 +0000 https://realestatemagazine.ca/avoid-universal-law-hurting-reputation/ Michael Krisa shares an important rule for establishing that most important of agent-client relationship fundamentals –  trust. Do you feel as if clients see your job as a real estate agent as a true professional position? If not, watch this.

The post How to avoid the universal law that is hurting your reputation appeared first on REM.

]]>
Michael Krisa shares an important rule for establishing that most important of agent-client relationship fundamentals –  trust. Do you feel as if clients see your job as a real estate agent as a true professional position? If not, watch this.

The post How to avoid the universal law that is hurting your reputation appeared first on REM.

]]>
https://realestatemagazine.ca/avoid-universal-law-hurting-reputation/feed/ 0