Know your market or suffer the consequences

Know your market or suffer the consequences

17 February 2015 by Nick Bendel 0 comments

A surprising number of agents don’t know basic information about their communities, one of the industry’s top coaches has revealed.

Michael Sheargold from Real Estate Results Network told Real Estate Business in a video interview that consumers expect agents to have hyper-local knowledge.

“A lot of the time, people walk out of an open and say, ‘If I was selling, would I feel comfortable with this particular agent selling my property?’" he said.

“I ask some very basic questions, and I’m shocked in some of the public programs we have [at] the ability for agents to answer them.”

Mr Sheargold said those questions include things like average sale prices in the local area, the average time on market, and the number of sales during the past year.

“These are pretty basic questions, and when an agent has that base of knowledge they clearly become a superior choice for the client, and a superior choice makes it easy,” he said.

Mr Sheargold said another mistake agents make is to spend too much time talking at a listing appointment and not enough time listening to the client’s unique circumstances.

“Effectively, once you know that, then no longer is it about broadcasting your message, it’s actually tuning your message into this particular client as to what they need and they want,” he said.

[Related: Coach reveals how to master productivity]

Click here to watch the full interview with Mr Sheargold.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
REVEALED: The 10 best agents in Australia for 2017

For the first time ever, the top 10 agents in the REB Top 100 Agents ranking are revealed in this exclusive podcast. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
Do you have an industry update?