Facebook is NOT your Principal Broker

Every query you pose on Facebook will yield multiple “Expert Responses.”

Yep! Pretty much everyone on Facebook is an expert who is eager to bestow upon questioners great wisdom from the trenches . . . or impart compelling opinions about what “conversation starters” should do given the described circumstances.

Some of this “knowledge” is relevant and worthy . . . and some, while eloquently crafted, is nothing short of DANGEROUS and ill-informed.

From my perspective as a Principal Broker, my most important role is as a consultant, coach, trouble-shooter, sounding board who is quintessentially available for my agents to consider strategy and legal and/or ethical courses of action. Our livelihood is what’s at stake because our burden of responsibility to serve and protect from harm our home buying and selling clients as they navigate the most important transactions of their lives.

When one of my agents comes to me with a question or concern, I will not render an opinion until I am absolutely certain that I understand the scenario and every nuance of our clients’ goals and motives. In most cases, I review ALL written documents to be sure not to miss a vital term of piece of information.

Why am I so anal about this? Because, as a Principal Broker, I am “on the hook” of responsibility for the actions and behavior of each and every agents affiliated with Pareto Realty . . . Our reputation and legal compliance are easily compromised and difficult (expensive) to recover.

So . . . I read the various Forums (Groups) on Facebook and cringe as I witness agents and Principal Brokers posing complicated scenarios and receiving myriad “opinions” many of which are unfounded and even toxic and sometimes dangerously close to violation of client confidentiality, fair housing, or antitrust issues.

Facebook is NOT your Principal Broker . . . It’s a great place for “Brainstorming”, but always always always consult with you Principal Broker before taking action on Facebook “wisdom”.

Don’t trust!

Verify!

Your Ineffable Job Description May be Obfuscating the reality of what you do.

I think it’s safe to say that all of us have a desire for gaining more “traction” in our careers.

“Traction” includes having a steady flow over time of the “RIGHT” Clients/Customers for your business?

Every business owner faces this challenge each and every day.

Where’s that delicate balance of persistent consistent lead generation and serving the leads that come?

As with any pursuit, having in mind a clear vision (description) of who these “right” prospects is “Job ONE”.

Who are these people you wish to serve?

Why?

Where are they?

When they work with you, what is the issue or opportunity you help them resolve?

How clearly are you “broadcasting” your desire to serve these people who NEED what you have to offer?

How frequently do you remind them how you can serve them and other people (friends, Family, work associates) just like them?

We know that birds of a feather flock together, so the secret sauce for finding that perfect traction for your business is to “hang with” these right people and make it easy for them to remember you when they encounter another human who needs what you have to offer.

So . . . What’s your title?

Which is more descriptive?

“I am a Real Estate Consultant”

or

“I help people buy and sell houses in West Nashville and Brentwood”

As Owner and Principal Broker of Pareto Realty . . .

“I coach and support the “Vital Few” member agents of Pareto Realty in their pursuit of building and growing consistently productive niche businesses as they enjoy the healthy life rhythm they want and deserve. “

What’s YOUR title, and who do you serve?

Why?

The Peril of Herd Mentality House Pricing

Of course, the herd MUST be heading the right direction, right?

Maybe not!

What happens when the lead cow starts heading towards a 1000′ cliff?

Well . . . odds are good (without question) that most, if not all, of the herd will follow and perish. There’s an inherent tendency for folks to trust the herd . . . It’s a “safety in numbers” comfort zone thing.

To some degree, we ALL go the way of “the mass of men (who) lead lives of quiet desperation.”  (Henry David Thoreau)

We love “crowdthink” especially when the herd is going the direction we wish to go – in alignment with our goals and aspirations. We yearn for validation and “belongingness” and join the natural flow of this herd because it feels good . . . that wonderful feeling of travelling with others whose ideas resonate with our desires.

Just as this can result in catastrophic ends with the aforementioned cattle, so can it be DANGERous for well meaning folks who see dollar signs in their minds when they notice that their next door neighbor has a “House for Sale” sign in the front yard . . . and they discover that the price of the house is WAY more than you thought it could be.

Next day . . . another sign pops up in front of a house down the street with a similar price.

Hmmm . . . If THEY can sell THEIR house for THAT much, I definitely should be able to sell MY house for MORE because my house is WAY better than theirs . . . so those signs . . . They continue to pop up in more yards as the herd forms. Surely, all of us can’t be wrong, right?

So . . . I call a REALTOR friend to list my “Castle” as soon as possible. I want to get while the gettin’s good.

My REALTOR shows up and seems less enthusiastic than I expected. In fact, she seems to be a bit “Debbie Downer pouty” . . . Why isn’t she as excited as I am?

Unfortunately, she tells me she has some unfavorable news to break to me. She tries to lighten things up a bit by saying that this will just be a pinch of reality . . . y’see, she has what she calls a CMA (Comparative Market Analysis) and it tells her that the ENTIRE neighborhood has priced their houses @ 12% higher than the recently closed sales of similar houses . . . and that they are soon all going to be competing in a race to the bottom.

While this is not what I wanted to hear, I am thankful for this (my favorite) REALTOR who was willing to tell me the TRUTH. She saved me from the tumultuous experience of myriad showings and price reductions and uncertainty by advising me to listen to the market and price my house competitively.

Yes! I was late to the party and advised not to follow the herd, so my house SOLD at a reasonable price very quickly.

Thanks to the herd, MY house was standing in a field of its own as a “Good Value” for appreciative Buyers.

Some times it behooves us to Break away from the pack

Being generous with Content

Everyone is a squirrel looking for a nut.

or . . . a Hammer looking for a nail.

For a sales-human, the pursuit is for that “Convertable Lead” who, with proper and diligent cultivation (follow-up), will ultimately become a “Customer” by agreeing to an appointment and become a CLIENT through earning their respect and trust by way of an empathic “Listening Consultation.”

One thing I’ve learned throughout my 25+ years as a Real Estate Sales Professional and Principal Broker is that people take trusted action faster when they are well informed about how this process works.

Many REALTORS miss the mark in this respect because they assume that the Home Buyers and Sellers know things that they don’t.

I’m not sure why this is . . . perhaps, with more experience, there’s a tendency to get a little sloppy.

Once you accept “little sloppy” performance, the “bar” lowers, and over time continues the slide in a race to the bottom.

I believe it’s essential to deliver the same level of service to ALL clients ALWAYS.

This includes all of the ways we can establish ourselves as THE SOLE RESOURCE FOR ALL THINGS REAL ESTATE . . . We do this with consistent communication with all of our “peeps” in our Niche Sphere of Influence in myriad ways – Blogs – Social Media – Direct mail – Websites – Telephone follow-up – and social gatherings.

When you become THE sole resource for all things real estate, you earn the badge of “EXPERT”, and people start saying good things about you even when you’re not in the room . . . and this leads to more business.

There are no shortcuts – only persistent consistency of useful communication in a variety of ways.

Last month, I added a BUNCH of new content to the Pareto Realty Website about the process of Buying and selling houses.

It’s ALL FREE for anyone and everyone to “consume at their leisure.”

Below are 3 links of valuable content which I hope will benefit you.

All boats rise with the tide . . . As 1 succeeds, so do we all.

Pareto Realty is on the hunt for some new “Vital Few” REALTORS to join our firm. If you are a REALTOR in Middle Tennessee currently selling 5-15 houses/year and a desire to sell more, let’s connect! Email Barry to schedule an appointment.