Until they are ready – Home Buyers and Sellers don’t think need us to help guide them in their real estate transaction from the beginning of their research like they used to.
Information Gathering is Easy with Clicks
Home Sale information whether buying or selling is readily available on the internet. Before the times of digital information super highways, real estate agents were consulted on the process it takes to buy or sell a home. Today, people looking to make a move, will dive in and research to educate themselves in order to help with the direction they will proceed. A professional isn’t typically called in for counsel until much later in the steps.
Three Phase Process
In his book, “Digital Body Language”, Steven Woods explains a three-phase education process. Here is how I relate it to the real estate industry…
- Phase 1: Solution Awareness and Market Education – The home buyer or seller is on a search for information like the tank sucker fish in an aquarium, they want it all. Some will be good stuff – other won’t be, and unfortunately, they won’t know how to distinguish it. Are you in a place that the potential client will find your information and take note of your expertise? They are listening to podcasts, watching videos, reading blog posts, status streams — Be there.
- Phase 2: Solution Discovery – After the information has been researched, they begin to look for a solution to their current situation. They are looking for not only the home values but also beginning to research who they might be able to look to for help in the transaction.
- Phase 3: Solution Validation – How can they make this all work? They are ready for the consultation now. Are you going to be there when that decision is made? Often times the phases are completed without you even being aware – but when the client is ready to get serious – I hope you are “conveniently” at the right place; at the right time, all as part of your plan, of course 🙂
Cut Through the Noise
Where the real estate agent used to be the resource that the client came to for their education – it’s important today to not only help direct the client to find the information, but also be an expert that is involved in providing the information. I like how Steven Woods explains the purpose of the phases, “… it allows us to cut through much of the noise surrounding technology and information sources on the market today and concentrate on what matters: ensuring the right person receives the right message in the right format at the right time.”
Missy Caulk
May 7, 2009 at 9:32 am
Kim, we meet potential clients A L L along their journey. Phase 1, 2 or 3.
It is paramount to being successful IMO to be there from the get go. Establishing a connection when they are in phase 1 or 2 brings clients in phase 3.
If you’re not touching them in the first two phases, when they get to phase 3 they will work with whoever calls them at that point of contact, or who they call.
I try to have the relationship already going before they hit phase 3 and know they need me.
Louise Scoggins
May 7, 2009 at 10:09 am
I agree that the internet has vastly changed the way buyers and sellers seek information regarding their purchase or sale, but for the good I think. I make contact via my websites with a lot of people in their Stage 1, but find that my most of my serious clients really start to communicate with me in Stage 2. By Stage 3 we should already have a solid working relationsip.
Kim Wood
May 7, 2009 at 10:11 am
Missy – I totally agree that the ideal is that we be present and involved before and in the middle of *all* of the phases, however, with all of the information out there today, I believe that many buyers/sellers are not wanting anyone else involved until after they have performed much of the research themselves.
As soon as they allow us “in the know” (and even when they are just a contact in our database) – we do need to provide them with touches and insight.
Kim Wood
May 7, 2009 at 10:13 am
Louise – Exactly! We need to be there for when the client is ready for the contact. If we keep the communication lines open, with little touches here and there…. as soon as they are ready to talk to a professional – We’ll be there !
teresa boardman
May 7, 2009 at 3:40 pm
These days they get too much conflicting and innacurate information, especially the buyers that look on national site for local information. I like that my clients come to me more educated than they used to but I don’t like that I have to eplain why some sources of infomration might not be accurate.
Mike Andrew
May 7, 2009 at 9:05 pm
Hi Kim,
Very true words, that’s why to me it is paramount that real estate agents understand how to work internet advertising.
Thanks for the post
Mike