How to Be a Great Real Estate Agent by Joe Rand
How to be a Great Real Estate Agent (2019) is by Joe Rand. I learned about Joe Rand and his book from Bill Risser's Real Estate Sessions podcast episode with Joe. This is a fantastic book - one that every real estate agent will benefit from reading - and acting on.
Rand promotes a program he calls CORE - Client-Oriented Real Estate. Instead of the real estate agent thinking primarily about himself or herself, the agent thinks about their clients first and foremost. "Specifically, CORE teaches agents how to become successful by expanding their conception both about what their clients need and the services they can provide to satisfy those needs."
Agent-oriented is about leads and listings and sales and commission checks.
Client-oriented is about give, give, give. It's about being great at your job. It's about having a Sphere of Support rather than a Sphere of Influence. Got it?
Rand's CORE Formula is three-fold:
1) Think expansively about what people need.
2) Build creative systems that can service those needs.
3) Develop rigorous methods to ensure we execute well. Not rocket science. But guess what? It works. Ask any great real estate agent. They will confirm with you that this is the formula that delivers. Like Gary Vaynerchuk, Joe Rand believes that a real estate agent ought to stick to their area of expertise.
The three CORE Courtesy Services for a real estate agent are
1) INFORMATION ABOUT THE MARKET - Explaining what's going on in the market.
2) PROPERTY MANAGEMENT - Advising how to manage a home.
3) THE COMMUNITY - Promoting the local community.
And Joe Rand believes that the key to engaging with other people is "to pay attention to them. Listen to them. Show an authentic interest in them." Common sense, right? Well, it's an uncommon reality, that's for sure.
One of my favorite parts of Rand's book is Chapter 5 - The Consultative Presentation. That's Rand's name for the Listing Presentation. I think he might have done even better by going with The Consultation as the chapter title. As Rand notes, "Stop thinking of the initial meeting as a presentation, and start thinking about it as a consultation - as the first of many services we are going to provide that client."A great real estate agent starts with a "Needs Consultation" and then presents a "Project Plan" and follows up with a "Market Analysis."
A great real estate agent does not pitch himself. Rather, he does a great job. And on the first visit, a great agent does a lot of active listening. "Ask questions, listen to the answers, take notes, show an interest in what they're saying, and engage them in a conversation about their needs."
Real estate clients - both buyers and sellers - have what Rand calls Three Levels of Client Needs:
Level One: Completion. You got the job done.
Level Two: Success. You got the job done and delivered good results.
Level Three: Delight. You got the job done, delivered good results and provided a qualitatively great experience during the process.
Great agents are at level three. Every day. All the time. In every action. Well, nearly every action. When a great agent falls short or makes a mistake, they recover with a level three response.
Chapter 13 - Titled "The Ten Elements of Great Client Experiences" - is a worthy read in and of itself. Rand goes through each one in turn:
A real estate agent who is strong in these ten areas is a great real estate agent. Indeed, they are a great human being!
As Rand says in closing, "Be great at your job. Because if you're great at your job, all sorts of good things happen to you."
Bill Risser podcast episode with Joe Rand
Episode 184 brings Inman Connect moderator/interviewer extraordinaire Joe Rand, Managing Partner of Better Homes and Garden Rand Realty to the show. Joe shares his story of growing up in the suburbs of Manhattan, heading off to become a Manhattan lawyer, vowing never to return to SUMA (suburbs of Manhattan), and doing just that in 2010. Listen in to Joe's adventure.