Property expert and Managing Director of Najib Real Estate , Nathan Najib believes agents of the future are currently transforming to incorporate important characteristics:
1: Value and Service
2: Training Standards
3: Communication
The Agent of the Future
People usually ask about disintermediation; should we be concerned about real estate agents being cut out of the sales process?
There is no short to medium term fearof disintermediation of the industry, especially for those working in the industry to add massive value to the service provided.
The biggest threat to the industry is not Google, Facebook, realestate.co.nz, or trademe.co.nz- It is agents who do not have adequate education and training. Agents who do not deliver on service, ethics, transparency and data, and those who don’t follow through, are the biggest risk to themselves and their field becoming redundant.
There was a time and place where an agent could have turned up, signed an agency agreement with clients, put a sign in the front yard, arrange a few viewings and given out a few brochures. Eventually selling the property and achieving a reasonable price probably would build a fair business. Those days are gone, as it's about excellence, design, transparency and ethical brand sustainability.
Value and service:
Service is the key. Nathan believes, “If agents don’t have their service levels right, they will be under threat. Unfortunately, some still believe that it is important for the agent to have all the information and be in control. Today, people expect information to be delivered how they want it and when they want it. The old-fashioned ideas of not talking about or being vague about prices, or not having information is no longer sustainable. People want to self-serve and make contact when they are ready. As a result, those that are not delivering the desired service are at risk of becoming obsolete. Consumers are good at voting with their feet and are very happy to walk down the street or open another window on their computer.”
Training standards:
General education and training has always been vital to a successful agency and the salespersons who work among them. As advancements in technology throughout the digital world continue to move and change, constant refresher courses and training are needed to ensure standards are kept high. Refresher courses not only among the digital world, but on ethical and personal levels as well maintain a well-rounded individual, capable of providing a service unlike any other.
Communication:
Technology will become more embedded in an agents’ everyday life than it has been in the past.
Consumers are now empowered. The internet is a fantastic enabler for buyers to jump on their smartphone to research properties. Agencies with scarce information will be passed over, as if price guides are absent and details are missing, 99 out of 100 buyers will simply look to find another property.
Agents need to know how their clients want to be communicated with. Is it via phone call, text, email or information on a website? People are looking for information, accessibility to agents, high service standards, straight talk and integrity.
“Personally, I think the real estate industry has been letting itself down.I believe the power of social media has not yet been fully realised and it is still establishing its place in the profession. Agents are using it for building their brands and consumers are developing relationships with brands, but I haven’t seen social media used effectively for sales. It’s not a great sales channel yet because people don’t necessarily want to be sold to via social media – they simply want information.”
The agent of the future:
The agent of the future will be very different to the agent of today. Agents will need to be more intuitive, they must invest in the right technology solutions. If they have the skills, then technology becomes an enabler.
Older ways of selling homes should never be performed in the real estate industry again. Unfortunately, some agents still operate the same way as they did years ago.
The new generation of agents who are coming to sell real estate and run offices are young. Young is defined as being able to evolve and stay relevant, be energetic, be an avid learner and have a higher professionalism than ever before seen in Real Estate. People can sense an agent/agency who is there to just make a quick sale. Clients expect increasingly higher standards - standards where agents work their hardest to get the best result for their clients and add massive value, while being a genuine human being, providing excellent service, and acting with honesty and transparency.
“The only agent in the future is a highly-skilled one - It will not be about showing people a property, it will be about having insights and local experience.”
They will have to find the best home loan, insurance coverage and orchestrate aspects from landscapers, builders and designers, to removal companies, power and electricity. Partnerships and alliances will be a big part of the future.
Great agents 2016 and Beyond:
Working FULL TIME. Being committed to the industry every day of the working week, rather than selling homes as a side note. Salespersons are professional like never before, are healthy, high energy, intensely trained, backed by an amazing ethical brand, obsessed with customer service, and is an all-around genuine person who is there to help/serve people and the community, rather than having a "what's in it for me" mentality. They make business easy for consumers, as clients expect increasingly higher standards - standards where agents work their hardest to get the best result.
All of this relies heavily upon proceeding with honesty, transparency and integrity; resulting in the advancement of the real estate industry towards a lifetime of growth and significance.
If you are looking for advice on being a successful real estate agent, please do not hesitate to get in touch with our team. We have agents specialising in areas all across Christchurch.
Stay tuned for our upcoming Podcast series Next Gen Agent - where we will share the blueprint for real estate success