How to Move Past Real Estate Agent Stereotypes?
Have you heard of the Image of Professions survey? Roy Morgan Research conducts this popular survey every year. Respondents are men and women, aged 14 and over, and they are asked to rate occupations for honesty and ethical standards.
Nurses and medical professionals are right at the top of the list. But do you want to guess who is at the bottom of the list?
Typically salespeople, politicians, and real estate agents!
Buy why? Literally, millions of people trust real estate agents with their most valued possessions – their homes. Still, they possibly consider them dishonest.
It is probably because of the stereotypical representation of real estate agents on television and in pop culture. It depicts agents as cutthroat opportunists, ready to betray their clients at the slightest chance for more money.
These misconceptions hurt agents’ reputations — professionally and personally. You don’t want your business to lose money because of them, do you?
So in this blog, let’s go over some of the most rigid stereotypes about real estate agents, and what steps we can take to break them.
Don’t Be the Stereotypical Real Estate Agent, Be the Real Deal
1. Real Estate Agents Make Easy Money
It’s a funny one, and you’re probably shocked beyond measure reading it. But people believe that, thanks to wrongful media portrayals. A lot of people also assume that their agent is pocketing the entire commission. Or they get a 6% commission on every transaction, no matter what.
While all of it would be nice to have, it’s not true. The seller pays the commission, and they split it four ways: between the two brokerages and the two agents. Moreover, the brokerage commission isn’t set in stone, and sellers can negotiate it.
The hard truth is not every agent is making close to the 6 figures. As per the research by experts, in some markets, you would need to sell approximately 30 properties at an average of $250,000 per home to earn around $80,000 in a year. The going gets even more challenging when the real estate market is cold.
Also, if agents are making money in high-priced markets, it’s not a sin. They work hard to get through a deal, and monetary benefit is their reward.
If you want to beat this stereotype, be professional. All that matters here is competence. Once you get through the deal, your clients will learn to respect you.
2. Real Estate is Easy Work
We bet you said “I wish” here!
People believe that real estate agents are just the middle person between buyers and sellers. You just help money change hands and enjoy your cut off the top.
Well, there is no such thing as an easy transaction in real estate. The amount of hard work and time that goes into a deal is insane. The long hours, the lack of sleep, high stress, and the management of each detail of the transaction — struggles are endless.
To escape this stereotype, be proactive. Take care of your client’s needs even before they ask. Give them no chance to complain.
3. Real Estate Agents are Dishonest and Greedy
We have to thank reality shows, movies, and even The Simpsons for this one.
It’s portrayed that all real estate agents care about is making a sale. They are thought to be unprofessional and dishonest, ready to lie and exaggerate at every turn for money. It’s not true, of course.
The only way to get past this stereotype is to be honest with your clients. If you hide things, they might come back to bite you in the backside. They come to you for your expertise and knowledge since they’re out of their depth. So be upfront if there is something wrong with the listing or transaction.
4. Real Estate Agents are Consumed With Themselves
This stereotype probably comes from how real estate agents portray themselves. The advertisements on billboards to magazine ads with the perfect model-like image. Or the headshot with the perfect hair, the wonderful smile, and the expensive attire.
Presenting yourselves as professionals is vital. But your image may lead to a perception that real estate agents are egotistical and too full of themselves.
Here’s what you can do about it. First and foremost, lose the ego! It will never work in your favor and will probably portray you as unapproachable.
Next, put your clients before you. They trust you with their hard-earned money and precious investment decisions. It’s your job to ensure their decision has no loophole. Don’t throw real estate lingos at them to impress them with your expertise. Instead, make them comfortable.
The solution is simple. Take pride in what you do, but don’t be egoistic. Care about your reputation, but go above and beyond for your clients. Provide your expertise, but don’t show off.
All your clients want from you is a good deal. So, help them get it. Take ZipperAgent’s CRM software help if you want to boost the productivity of your staff. It’s built specifically for real estate agents, keeping their operational challenges in mind.
Get in touch with our expert agents today at 1-800-350-3695.