Success is Not Numbers Or Company Name
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There are many other reasons that contribute to Barrington Realtors failing in business, even those that have previously been successful. The landscape of selling real estate has changed. It does not matter if we are talking to Realtors in residential sales or commercial sales. Change means change and those that do not adapt and keep up with the changes, will die….their businesses will die. But let’s first look at some things that are measured but are not a measure of success or failure.
- Closing a certain volume of business every year.
- Why is it that buyers and sellers and even Realtors and brokers measure success with numbers. There are no minimum numbers or volume that contributes to the word success. Success should be measured only by one person, the business owners themselves. And yet buyers and sellers seem to want to know how many deals we close every year, how much “volume” or value the transactions amounted to. Why does this matter?
- Following the pattern that every Realtor has done for years.
- Print marketing, open houses, broker tour and so on. Times have changed and so have marketing methods. What used to work did so for a reason, now it doesn’t so much, for a reason. Whether a Realtor chooses old school methods or adapts to the newer ways it does not matter as long as they work for the business owner.
- Who they work for.
- Actually Realtors are self employed, they are business owners working for themselves. What they need is a managing broker to sponsor them. That company does have some say in what a Realtor can and cannot do under the company hat. Yet Realtors in Barrington and anywhere else are the ones responsible for you, the client.
None of these contribute to the term success. Some Realtors like a selective smaller group of clients, some think outside the box for their marketing and others do nothing, the hat under which they work has as much to do with success as it does with failure.
How Should Barrington Realtors Adapt?
You might think I’ll start out by mentioning technology. No, that’s not adapting, that’s just utilizing different tools as they become available. Adapting is to watch the real estate industry and identify the shifts. Technology has caused some shifts, no doubt. But technology is the not adapting, it’s the reason. Take home buyers. They now make use of the internet to start a home search, to gain knowledge. It’s the perfect solution to remain anonymous and not have to connect with annoying Realtors, right? That’s a big shift from the old days when homes for sale were only identified by a sign or going to an office and looking through a book.
The internet has been the largest reason for shifts in the way real estate business starts and ends.
- How many Barrington Realtors have web sites? Likely a good amount, maybe 90%. But what good is a web site without visitors? No use at all.
- The internet has largely replaced print marketing. The internet is instant and gets much wider coverage. World wide. Do Realtors know how to use the internet? Most don’t.
- The internet has opened up new marketing methods, most Realtors don’t even know these online tools exist.
- Blogging as a way of spreading your message has been adopted by the rare few. Why? Because it takes work.
For the most part Barrington Realtors are not adapting. They are not embracing the internet as a business tool, but worse even if they are, their online skill levels are poor to none existent. It’s the old adage, just like 10% of Realtors are doing 90% of the business, 10% of Realtors are adapting to real estate shifts and the rest are not. Those numbers also vary year by year, some say the split is as high as 95/5.
For me, I get most of my new business from this website. It’s just the way I choose to work. It’s how I connected with the buyers in the following story.
Are Realtors Doing The Right Thing? Do They Do Enough?
The best way to express is always real life events. So let me tell you a story. I am currently in the midst of what has become a mammoth attempt to help my clients buy a home in Wynstone. As I write this article we were supposed to close on February 23rd but it’s 2 days later and I wait for an email that confirms closing. The reasons behind this long transaction were brought to a head last night when I simply had to switch start doing someone else’s job because the ball had been dropped. I was still working on this at 10pm last night and at 7.15am this morning the phone starts chiming and did for an hour or two.
- Barrington Realtors working 9-5pm are being left behind. This job never has been an office job yet so many still operate that way.
- Realtors handing off transactions at contract stage to the attorneys and then wait for closing are lazy.
- Using email and text are Ok but sometimes you just have to pick up the phone.
Balls get dropped outside “office” hours and your Realtor should be on the ball to pick them up, sometimes on behalf of some-one else. So imagine this scenario.
Trying to Close Barrington Foreclosure
Our transaction’s closing day was Feb 23rd 2016.
It’s unusual because we are not closing at a table, it’s an e-closing. The paperwork is being sent back and forth to a title company in Atlanta on behalf of seller who is represented by an asset management company in India. Yes India! The buyers attorney sends the deed back to the title company to be re-done, the buyers last name is incorrectly spelled. So it wings it’s way via email from Chicago to India and then to another attorney in Chicago. What a farce. The prepping attorney was supposed to redo it and send back to India to be sent back to Chicago and closing could finish. It’s 2 days later and nothing.
I called India at 9am and 4pm Feb 24th to be told we are working on it. I do some digging to find out what really is the issue. Of course they don’t want to tell me so I turn to the internet to start connecting dots between all the people to find out who is the delay!
At 8.30pm the buyer is more than frustrated. So I send an email to the supervisor in India telling him to get it done. He did respond. They need a new deed typed and then funding will happen. Yes this I already know, but when, when, when? Having tracked down the person in Chicago who is to redo the deed, I can do nothing more than let the buyer know and go to bed. In the morning I ask the buyers attorney to call the other attorney to get the deed done. After all he should be on top of this and he isn’t, I am not his secretary but it sure feels like it!
Morning arrives and the India people tell me it will be done today. Well folks you told me that yesterday. The problem is they are a third party in the middle. No-one has called their attorney, they just keep sending emails. In the meantime the buyer has had to call off the contractors that were due to start a new roof today. And here we are Feb 25th at 1.30pm and still no news on whether anything has or is being done.
The communication absolutely sucks! I am doing my best to keep on top of this but it scares me we’ll get to 4pm CST to find everyone in Atlanta has gone home.
So I make another call and no they do not have the deed. Now I call the preparing attorney, she’s away from her desk but have asked her to call. Time is ticking and this whole scenario is utterly ridiculous and it appears I am the only person willing to step in and do the right thing. After 30 minutes the attorney office call me and we look into this matter. The result is they do NOT have a request for a new deed. Well you do now I tell him! Here’s what we need changed. And of course they’ll get it done tomorrow!
Another day passes!!
None of what I have been doing over the last three days falls under my license as a real estate professional. But that’s the point, I am a professional and I serve many professional clients. So I make it my job to do the right thing and start bugging the heck out of the people that seem happy to sit on their butts, send emails rather than making phone calls, and not, in my opinion, serve the best interests of their clients.
(I came back to update this with the conclusion)
Day Four After Closing
I get an early email that the attorney office has re-done the deed. It will be sent to the closing department and funded on Monday. At this point I more or less lose it. I have to tell the buyer but ask him to leave it with me. At 12.40pm after another call I tell my contact he has 2 hours to get the deed executed. No ifs ands or buts. He promises to call me within 2 hours. Of course 2 hours come and go. I am now collecting my car from an auto shop but can call him while driving home. He says he was just doing something and was about to call me. I say great I’ll wait then. 20 minutes pass and he suddenly says he is sending me the deed, it has been executed. Finally someone who understand it HAD TO BE DONE TODAY! Great can I give buyer keys? NO.What! No Friggin Way! (Sorry but it’s the only way to help you understand my state of mind here). I tell him legally I have a deed, they have his money, I don’t care if they wont be disbursing funds until Monday, he can go to God if he likes but I want permission to hand the keys over. Off he goes, meanwhile my buyer has called and I have him on hold.
After another 17 minutes, permission granted, I call buyer back and we arrange when I can get the keys to him. 45 minutes later buyer has his deed and keys.
The reality for this transaction is this. The bank chose to insert a third party servicer between the listing agent, attorney, seller and buyers agent, attorney, buyer. Without them our deal would have closed in September 2015. Too many cooks spoil the broth, yes that’s the perfect term for this. Some-one in their infinite wisdom decided we all needed these third party service companies, when we did not.
How many Realtors treat the purchase of a buyers home with this much attention, dedication and professionalism. Many really do just hand off to the attorneys and step back until closing. I believe it’s my job to do all I can from start to end. Sometimes we have to step on others toes to get stuff done. I know my buyers are extremely thankful they picked me to help them. They have told me so!
- In my business is all about relationships, that’s it! I want my clients to know it really is them that I care about.
In summary I may not transact 50 homes per year. Actually I don’t and that’s for good reason. There’s no way on God’s given earth could I professionally service that many clients. Unless of course you want me to work Mon-Fri 9-5pm only and not get involved.
If you are looking for a Professional Realtor that focuses on Barrington, knows Barrington real estate and will go the extra mile & beyond, give me a call.
Call Corinne Guest Barrington Realtor direct at 847-363-3686.