Welcome to another eye-opening episode of "Real Estate Realities
with The RebelBroker"! Today, we're diving deep into a topic that
affects both seasoned and aspiring real estate agents—the real
problems plaguing today's real estate professionals.
Join me as we explore the notion that bad agents are made, not
born. Many agents are trained to prioritize quantity over quality,
a trend that leads to a decrease in overall service quality. As
agents focus on increasing their transaction numbers, key metrics
that matter to clients often fall below average.
We'll uncover shocking examples, like a so-called "Top 1%" agent
with a 20% failure rate—meaning 2 out of 10 homes do not sell. If
an agent boasts about their yearly deal count, we'll do the math
together to reveal the average hours spent on each deal. It's time
to question whether the emphasis on quantity is contributing to a
decline in overall service.
Most training programs emphasize lead generation rather than
addressing the unique needs of clients. This focus on quantity
makes agents vulnerable to automation, raising the question of
their long-term relevance.
We'll demystify the commonality among "Top" agents—the use of
universal checklists or processes. While scaling a business is
often promoted, we'll discuss how this inadvertently makes the
agent's role more susceptible to automation. If agents are
executing the same checklist for every home, what value are they
truly bringing to the real estate process?
In the second half of our episode, we'll explore alternative
metrics for evaluating real estate agents. Forget the shiny object
of a luxury car; let's focus on the real indicators of success.
We'll delve into metrics like days on market, sales price ratio vs.
market ratio, percentage of listings resulting in a sold home, and
list price reductions prior to sale. These metrics offer a more
nuanced and insightful perspective on an agent's performance.
Join me as we challenge the status quo and rethink how we judge
the effectiveness of real estate agents. It's time to bring quality
back to the forefront of the real estate industry. Stay tuned for
another thought-provoking episode of "Real Estate Realities with
The RebelBroker"!