How Realtors® can better understand the industry to gain clients

Real estate agents need to “fully understand what business they are in,” said Bill Fields.

Fields, who will be presenting three sessions at Triple Play on Tuesday, Dec. 6, said that “real estate agents need to understand that they are in the people-finding business. They often think they are in customer service business, so they are so busy waiting to provide customer service, but you need customers in order to provide customer service.”

“You need to find people that have a need for your service,” he added. Fields suggested Realtors® go out into their community every single day to make connections and find people that have a need.

In that regard, he said that agents have to stay in touch with past clients. “The biggest mistake I see is agents not staying in touch with past clients, friends, family and personal referrals,” he said, noting that 64 percent of sellers were referred to their agent by someone else.

He also cited statistics from the National Association of Realtors® that show that most sellers recommended their agent twice since they worked with them.

“If I decide to go into real estate, I need a plan that is realistic to accomplish. Too many people have a conception that real estate is happy-go-lucky, and they will figure it out. No,” he said. “Right now, today, 17 percent of agents control 83 percent of the business. That should be alarming for that 83 percent. Seventeen percent have it figured it out, but 83 percent do not.”

“It is not that real estate is difficult business. All we do is find people who need us, and we service that,” he added.

Fields suggested having a plan, and being realistic about what obstacles you face, and what goals you want to accomplish.

“Approach this industry with the understanding that it is a business,” he said.

Fields will be presenting at Triple Play, which runs from Monday, Dec. 5 to Thursday, Dec. 8, on Tuesday, Dec. 6. Catch him at Accountability is NOT a Dirty Word! from 10 a.m. to noon, Buy from Me or Get Out of My Car from 1:30 to 3 p.m. or How to Double Your Listings and Your Income from 3:30 to 5 p.m. Registration is still open for Triple Play by clicking here.