The real estate profession is and always has been a people business.
People do business with people they know, like, and trust. Those who work to build relationships and gain the trust of others will have a much easier time developing and converting leads.
According to the most recent NAR Profile of Homebuyers and Sellers, consumers revealed that their top priority when selecting a real estate professional wasn’t experience, knowledge, price, or firm affiliation—it was trust.
Here is a three-part approach to help potential clients understand that they can trust you to assist in one of their life’s most significant financial decisions.
1. Use the REALTOR® Pledge of Performance and Service
The National Association of REALTORS® Code of Ethics sets forth promises each REALTOR® must uphold when working with consumers. The code stresses that fiduciary duties require that the consumer’s interest be placed above all others. Explaining to clients that they can trust us because we adhere to a Code of Ethics and that we will always protect and promote their interests goes a long way.
2. Explain Agency From the Consumer’s Viewpoint
Most states require some form of agency disclosure to a potential client at the beginning of the relationship. Instead of viewing this disclosure as a legal requirement that must be checked off your to-do list, address agency from the standpoint of what it means to your client.
The reason agency exists is to impose upon the licensee fiduciary duties that require them to legally protect the consumer. Tell your client you are bound to keep their information confidential, obey and follow their lawful instructions, disclose material facts, be loyal to them, account for and safeguard all monies entrusted to you, and bring care and skill to the representation.
The consumers don’t care about regulatory requirements or the intricate nature of regulatory agency rules. They care about whether we will protect their interests and whether they can trust us. Agency obligations assure them that we do just that.
3. Gather and Use Testimonials
No matter how eloquent you become at your “Trust Me” presentation, you alone can’t convey the message that consumers should trust you. Recent marketing studies indicate that consumers believe about 14% of what we say about ourselves. They think 78% of what other people say about us.
Take a lesson from other companies and businesses that have spent millions of dollars learning the power of consumer testimonials.
When you try to find a hotel or a restaurant, what copy are you most likely reading? Testimonials. People trust other people’s experiences more than what the restaurant or hotel says about itself.
Develop a plan to gather testimonials from your past and current customers. Ask them to leave reviews on third-party websites like LinkedIn, Google, or Yelp. Then, link those reviews to your website.
The better you develop relationships and learn to build trust, the less your business will need to depend on lead-generation services.
Trust the Allied Schools for all your real estate education needs. Our expert instructors are ready to help you thrive at any stage of your career! Contact us today. We’re prepared to answer any of your California real estate licensing questions!
