I know an agent with big hair – she used to drive a Cadillac – she traded it in for a Lexus.
She likes to lunch – alot – with friends, clients and colleagues. She started selling real estate when I started high school – basically ALONG time ago.
She’s not on Facebook. She twitters only in the office – face to face – with friends, clients and colleagues. She’s not on MySpace – Her space is the desk in the office – overwhelmed with a prodigous Rolodex with cards falling out. She emails, but her assistant does the typing. Funny thing is – she seems to always be on the phone. Talking. Offering well-wishes on birthdays, engagements, job promotions, new children arrivals and even new grandchildren arrivals.
I think she may be working on the third generation of her first clients.
I’ve never heard her ask for business – often times the phone calls are incoming, not outgoing. She’s busy, but not overwhelmed. During a casual conversation regarding a recent property showing, she shared some very valuable insight regarding the unit – you see, she’s sold it twice before.
When she tells me she knows everyone in the business, I believe her.
She’s social – but not of the media type.
In comparison, I believe I am more social, but perhaps too much of the media type. I like technology. I believe that technology can and will transform how real estate is transacted. Through observation, however, I have learned that even in the absence of technology, real estate is transacted – quite successfully.
Austin Smith - Goomzee.com says:
Great points Thomas. Your post speaks to the importance of Personal (as opposed to Virtual) relationships. It is important to remember that while social media/networking can be a valuable asset to your business, it should not replace the face to face aspect of real estate.
December 2, 2008 — 3:45 pm
Tom Hall says:
Austin, thanks for commenting. Over the past several months, I have been investing heavily in my “online” presence and not enough of my face to face. As the holidays approach, I plan on doing more face to face – not just because of the business, but I realize just how much I miss it.
December 2, 2008 — 3:58 pm
Elaine Reese says:
I think you’ve brought up a very important subject. I know several agents that are just like the one you described. I think we risk becoming too complacent, relying only on our online business and forget to cultivate “real” relationships. We need to remember to step away from the computer more often. Just as with a stock portfolio, we need to diversify.
December 2, 2008 — 4:29 pm
Bridget Magnus says:
And more to the point, do you know what she’s not doing? Whining about how bad the market is.
December 2, 2008 — 4:36 pm
J Boyer Summit NJ says:
I know people like those discribed in this write up as well. I commend them for their direct social marketing. I would love to be in the possition that the people I know are in and know that I will be, but I need to feed my family now and 5 to 10 years from now.
December 2, 2008 — 5:29 pm
Joel McDonald says:
“I have learned that even in the absence of technology, real estate is transacted – quite successfully.”
Great example of how social networking isn’t a new fad at all. It’s just a new medium.
I wonder if in the absence of social networking — whether or not real estate is transacted successfully.
December 2, 2008 — 5:37 pm
Chris says:
Reminds me of my grandmother and her friend my former broker. Both do a ton of business each year, and have been forever. My grandmother retired about five years ago, but my former broker has been in the business since probably the early 70’s and is still around, selling a lot.
She knows how to email, not much online other than that.
December 2, 2008 — 6:05 pm
Ken brand says:
Dinosaurs weren’t extinct until they were extinct.
You’re right, today, balance with emphasis on personal relationships is the absolute correct way to prosper and build. Tomorrow, a year or years, it’ll be different. Obama kicked butt with new social media. i know it’s not exactly or maybe even remotely the same as prospecting, relationship building for agents, but there’s something there and it’s growing. Gota, be personal, hands on, high touch, gotta start hugging social media too.
My 2cents. Nice post, thanks for sharing.
December 2, 2008 — 6:17 pm
John Philips says:
I think sucessful agents in the future will need to have the tech and real world networks established. Technology is transforming the way we buy and sell everything but with such a large purchase people will still need the human touch.
Great post.
December 2, 2008 — 8:29 pm
Brian Brady says:
Tom:
This may be the defining post for Realestate2.0 in 2009. Stay tuned.
December 3, 2008 — 9:25 am
Greg Swann says:
> This may be the defining post for Realestate2.0 in 2009.
With qualifications. Tom’s top-producer has a high-S client base and responds appropriately. The essence of the thing is making connections however you do it, not specifically schmoozing. If you try to go all small-talky on many of my clients, they’ll cut you off and cut out just like that. “How’s the family?” is a deeply meaningful personal connection. 😉
December 3, 2008 — 9:53 am
JDallas says:
This anecdote shows the difference in communicative culture and capabilities between the generations. As a 24 year old, I can reach out to hundreds of people if I need something related to their talents through facebook. However , staying on the phone all day with them, and slipping in a business proposal is not something I would even consider
December 3, 2008 — 10:10 am
Rob Nelson says:
Interesting and so true. ” This anecdote shows the difference in communicative culture and capabilities between the generations.” I’m 42 and the first generation to go from a typewriter to a PC. I utilize technology heavily but not exclusively in selling real estate. No matter what at some point, somewhere, somebody has to be in front of somebody else in the real estate transaction.
December 3, 2008 — 1:07 pm
Tom Hall says:
How do we build trust without a personal connection? I think it is far the exception than the rule. My relationships with my clients vary -some are deeply personal, many are cordial but are primarily professional.
Great point regardling the generational differences – still I am not one to remember birthdays etc. There’s a reason why we connect with certain clients. The crux of the issue is the connection.
December 3, 2008 — 2:24 pm
Marlow says:
“Obama kicked butt with new social media. I know it’s not exactly or maybe even remotely the same as prospecting, relationship building for agents, but there’s something there and it’s growing.”
But it is EXACTLY the same. Running for office is just like prospecting. You’ve got to get out there, shake hands, see and be seen, network, organize, shake-a-leg, schmooze, inform, entertain, and connect.
It’s all about selling yourself first. After that, if you’re not a moron, it will all fall into place.
December 3, 2008 — 2:40 pm
Mana Tulberg says:
Great post. Our business is a social business. Not all prospects are on the social media networks. Therefore, for now we need to concentrate on both groups, the social media group and the prospects who enjoy a face to face relationship.
December 3, 2008 — 2:53 pm
Flynn Gentry-Taylor says:
Thanks, your post proves the age old truth…Real Estate is a People Business! How you reach people is not as important as how often you reach people. A personal telephone call or social networking, if it accomplishes the goal of communication, it works!
December 3, 2008 — 6:42 pm
Greg Staker says:
Can you sell real estate and not own a website, blog or twitter account? It happens every day.
Can you sell real estate because you own a website, blog or twitter account? It happens every day.
The determing factor to both statements being true is “you”. As a 50 year old who worked with MLS books, watched fax machines make this business easier and now blogs daily I could not agree more with your post.
December 3, 2008 — 6:51 pm
jay says:
Yes she has a base of referrals and connections/relationships from 20-30 years in the business. Of course she does not need social media. But for all the new agents out there–because she’ll be out of the business in 10 years–they could probably use some good experience with lead generation using SMM followed up by voice/face to face.
If you don’t have the history she has, there is good chance you’ll need to master the new mediums to get productive. When I say productive I mean 20+ transactions a year while keeping your commission instead of handing it back to a dinosaur (traditional) broker who is taking advantage of your lack of courage….
Therefore I take this post with a grain of salt….Most of use have not been in the business long enough to have sold various properties 2-3x.
j
December 4, 2008 — 3:23 pm
Tom Hall says:
@Jay thanks for your comments – I am a prophet of technology leveraging knowledge in real estate. Perhaps my biggest point is that as the new generation of buyers and sellers are more familiar and confortable using technology, the human connection is crucial.
December 4, 2008 — 6:13 pm
Larry Lang says:
While I am well versed in technology, I use it as a means to meet new clients. But then it is back to the basics. I spent 28 years in retail and learned customer service is what is necessary to succeed. The Internet is the new way to gain clients, as was direct mail and newspaper ads.
December 5, 2008 — 7:52 pm