A seller asked me yesterday if I am possibly too busy to work with him. It wasn't a short sale, just a regular listing in Fair Oaks. Remember those? I've been listing and selling a fair number of homes in Fair Oaks lately. I sell all over Sacramento but really love Fair Oaks. In fact, I have several Fair Oaks listings in escrow right now.
This seller was calling around the Internet, looking for a real estate agent in Sacramento. I told him I've been in real estate in one form or another since the early 1970s, and I've survived all types of markets. I mentioned that I rank #10 as a Lyon Real Estate top producer for last year -- adding that I'm also a very successful Sacramento short sale agent and presently manage 28 listings in inventory.
"Whoa, 28 listings, that's a lot," he said. "Would you have time for me?"
I wanted to point out that some agents easily handle more than 200 listings a year, but I figured the thought of that would probably boggle his mind. Last year, I listed more than 100 and had no problem with that number. I have systems in place and am organized. There are also agents who don't take a listing more than once every 2 or 3 months. So, which kind of agent is better? The agent with a lot of business or the agent with none?
The agent who is better is the one who answers her phone.
---
Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
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The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
There is a way to answer this question. Ask if he wants a agent that isnt busy? That means they have no business and they are that way for a reason. If he wants his property sold list with you because of one reason you are busy, which means your working !
The hard worker focused on what that client needs is the BEST agent to accomplish the task. Answering the phone or returning the message promptly is a big indicator of a GREAT agent.
Elizabeth, An agent with efficiency systems and streamline processes in place can handle much more volume than an agent who does not. I’ve seen agents struggle to manage one transaction. Answering the phone and returning calls is always better … but I’m not sure that alone makes for a better agent.
Some people think it's all about results. But the customer service aspect is important whether you are a new agent with one or two listings or an established one like yourself. In the end, the agents that sell the most are usually the most proficient and are among the more knowledgeable agents around. The customer just wants to feel as if he or she is the most important client you have.
I had my first of the exact same question from a regular seller in my neck of the woods. I explained to him that I had systems in place that made handling my listings easy, and a bench of buyer's agents that took buyers for me. When I was brand new in the business, I thought I would never get past the inexperience and/or lack of a strong listing inventory. Now this. It's always something. Some people just need to worry.
I limit myself to no more than a dozen at a time. I can service them well and get them sold soon if, I don't have more than I can focus on.
Hey Tim: I think there's some truth to the adage that if you want something done right, ask a busy person to do it.
Hi Gary and Kathleen: Well, my point in this was no other agents seemed to answer their phone on a Sunday. I was being humorous. Obviously, the mere fact an agent answers doesn't mean a whole lot, but it does count. I tell new agents that if they do nothing else but answer their phone when it rings, they'll get business. When a potential client calls an agent, they believe they are calling a business. What business doesn't answer the phone?
Hi David: You hit the nail on the head. Bingo. That's precisely what a client wants. A client wants to feel as though he or she is my only client, and that's what I strive for.
Hi Chris Ann: You make me laugh. Yeah, I can think back to what it was like when I started in the business. It is always something. Not successful enough to too successful, LOL.
Hi Rob: We all have our threshold. Personally, having only 12 listings would bore me. I'm too used to high activity. I manually go through all of my listings every night, like putting children to bed. See, that's why I don't have any kids, though.
Elizabeth - What a great question! I used to think an agent with no business was never a good idea because one of the best ways to become good at our jobs is through actual experience, for my industry that would be closing loans and yours closing escrows.
However, every single one of us started our business with no business and yet, we eventually became good at our professions. So on that note, I don't rule out newbies anymore simply because they are new; every one of us had to start somewhere.
Furthermore, there is such a thing as too much business and I don't care how good someone's systems are or how organized they are, someone with 200 listings is not providing better service to their clients than someone with no listings or someone with 28 listings. JMHO
The better question would be how many buyer clients did you represent successfully last year. Tell him about about your awards and that he'll have a great agent if he choose him.
Great for you handling so many listings so efficiently!
Just as others mentioned, his question really was could you successfully sell his house at top dollar within a decent to normal timeframe no matter how many listings you had. No matter how the question is put, the answer will always need to tell them what you can do for them.
I don't carry many listings but that's because I carry many many buyers at a time. As you say it's all about systems and whether you are in your business working it He would be crazy not to hire you.
I think that when you are a new agent, all you have is time to focus. Will this mean that they will be more motivated to sell that home?> Maybe....but I think that an agent with experience and systems is very powerful! Great discussion.
I love how you ended it, the agent who is better is the one that answers the phone!
Always time for one more... Thanks for the post!
I have time for serious buyers/sellers. I do not have time for flakey buyers/sellers. I fired a flakey one today.
Great post.. in terms of technology, care to share what you are using for handling so many listings? Do you have a CRM system in place?
What's funny is that no matter how busy you are or how they may think you are "too busy" for them, people like to work with agents who are BUSY!!! It's the ones who have a lot of extra time on their hands you should be aware of...
Hi Elizabeth - well - it is nice to see you are still smiling... you must have a great system in place. and congrats. Gay
Productive people do more and make it look easy. I greatly respect agents who work in small volume in order to maintain the quality of their service- we hired one in 1998 and she did a great job. However, that doesn't mean that people who do more volume sacrifice quality or service. They are just more productive.
Hi Elizabeth~ I think the best agents are the one's that follow through and provide the best service they can for each and every one of their clients. But, it all boils down to what the client expects and their perception.
There is a reason that busy people are Busy.... It's just about managing ones time efficiently, good blog. i enjoyed
It sounds like you've been very successful while others are struggling. He would be in good hands.
Hi Elizabeth -- All boils down to the skill and systems/processes of the agent. It does take robust systems in place to provide a high level of service.
Elizabeth - I have no doubt that YOU can handle it. But some agents can't -- they simply have too many listings. They don't know which way is up half the time.
What an interesting & thought provoking post Elizabeth. As I think about myself and my business what I realize is that my personality & preference is to do business in certain ways that allow me to feel comfortable, competent, available and successful. My guess would be most agents aspire to that or something similar but sometimes don't realize this business can be set up in a multitude of ways. Sometimes the biggest challenge is finding what works best for each of us. Congratulations on a great year & a great career.
I would simply say don't look at the LISTINGS look at the proportion that SOLD. If you agent is a top agent with an expired list as long as your arm - it might be something to consider.
Caveat - this varies - if they do a lot of short sales they may have more expireds and fewer satisified clients. But the proportion compared to other area agents matters more than overall volume - IMO....
I think it just depends on the agent, the more listings they have, the better their support staff better be!
There is one listing agent here who has many listings - she can tell you right off the top of her head exactly what upgrades are in each, name and phone of seller, if they are home, anything you ask. I love selling her listings, she either answers the phone, calls right back, or texts. She is totally in tune at all times, amazing.
The best kind of agent is the kind that makes time for their clients no matter how many or how few they have at the time. They make each client a priority!
It is clearly all in the system. The more you do something the more efficient you become in doing it.
Great post! And I completely agree about the importance of answering the phone, or at least returning the call right away -- BIG pet peeve, not returning calls!
I don't think answering the phone is as important as being available and communicating clearly. No matter how we do that. My business is email based.
My comfort zone for listings is about 30 by myself. I haven't had to do that for a while though since everything is selling so quickly. And I've been lazy lately :)
If I were a seller I'd want an agent who is busy. Having lots of listings usually means we have lots of buyers.
The agent who is better knows what s/he can handle and always under promises and over delivers! In this day and age returning the phone call also includes responding to the text or email too! I'm thinkin' you can handle his listing! :-)
Elizabeth, this is a valid question from a seller. It sounds like you have the systems in place to handle another client and service them well. Good luck with your new listing.
Excellent post Elizabeth. I, like many others here, agree that busy is better. I know from personal experience, that when you're not busy is usually when mistakes are made. There is definitely value in getting into a "rhythm" by being busy. As you said, systems are in place to handle things, and it all comes down to results and customer service. Thanks again for the post.
It is interesting how clients choose their agent. If you have listings and are selling homes, chances are you have resources to market your properties. Best to you :)
Really agree with your point Elizabeth! Our team is fanatical about answering all calls. There's a saying: 'If you want a job done, give it to a busy person!' A lot of wisdom in that statement!
I think it's a reasonable question to ask, because sellers want and need an agent who has the time to keep in touch and work aggressively on their behalf. I am sure you can do that, as 28 listings is a healthy number, but not even close to an outrageous amount. Just frame the answer so that you show yourself to organized, efficient, and successful, and you'll overcome that objection. Good job!
Showing you are organized and getting some of your current clients and past clients as referrals to this potential seller.
200 listings a year?!?! I look forward to having 28 listings like you, Elizabeth. Thanks for this post, as it has been inspiring to me :)
Amount of listings is a variable. Each listing requires a different amount of time, attention, and marketing. It might have helped if you couls say 28 active, 3-4 under contract, and had 5 that sold over the last 60-90 days.
Even an agent with no current listings might have had 50 sales last year, so it doesn't mean that agent isn't perfectly capable of handling the sale, but I guess we have to explain that to potential sellers, just why we have to answer the most annoying question in real estate: " How many days has it been on the market?"
I'd say if you had the time to answer the phone then yes, you have time for their listing.
Elizabeth,
Congrats on the feature You seem to be professional and organized. I'm sure you will do a great job with his listing.
I think as your business grows you get used to more and more volume. Wholeheartedly agree about answering the phone-no matter how busy you are!
I have bought and sold many homes and in my experience I would hire the not so busy agent all day long over the 200+ listing agent. One reason that hasn't been brought up yet is the ego of the two agents. Have you ever noticed how important it is for the 200+ (or even the 50+) agent to tell you how amazing they are and how they do 200+ deals etc. I'd rather work with people a little more humble that appreciate the business they get, and work harder on each deal.
Again, in my experience, the 50+ deal people have been my worst experiences. They don't answer the phone, I get a different assistant each time, no follow up on the details, etc. etc. To them, it's a huge numbers game and once the ink dries on the listing agreement, it's time to move to the next deal and the next and next.
Systems are great for getting business, but when I'm a consumer, I want an agent, not a system.
It really doesn't matter how many listings an agent has, it is the quality of service provided. Even responding to the phone or emails quickly isn't the best indicator, although a good one. Results and relationships are!
We all have those times when we get rubbed the wrong way. One of our jobs as agents is to help smooth out the wrinkles and move things to a closing. If you don't get along with the other agent orchayopte some other involved party, that will be tough.
I have met some very abrasive agents in the last couple years and many who don't know what side of the contract is up. I am always amazed that they are still in business. I guess they have been able to find the right balance with the folks they have worked with.
Makes me shake my head in dismay!
Do you have a CRM system in place? This came from #16. I'm sorry but I don't know what a CRM is. I do have a system, though; it's a cross-reference system I created myself for tracking listings globally and individually.
Virginia #28: I can do that but I generally do not recall the square footage when asked. If I'm at my computer, though, I can look it up.
BB #34: My business is email-based as well. But I still answer the phone -- and darn it, I do with a cheery attitude too.
Jeff #43: Out of the 28, 19 are in escrow, either pending or active short contingent. If that answers your question.
Actually, last winter my inventory was over 40 listing, and that was a very comfortable number to handle. I could probably go up to 60 to 80 listings without having to add more staff. The reason I say that is because way back when, like in the 1970s when I was an escrow officer, I used to handle 60 to 70 escrows a month. There's a lot more paperwork to an escrow than a listing.
"The agent who is better is the one who answers her phone." I think you summed it up right there! That is how the relationship really begins and how it is maintained throughout a transaction. Other important factors such as marketing and negotiation skills are just as important.
Elizabeth - The systems point is key. We have systems in place that allow us to handle dozens of listings at one time as well. I know some agents who can only handle 5 listings well, and I know other agents who have 50+ listings and service all of them poorly. Systems are the key to efficiency.
Slightly different scenario but I used to market myself as a land specialist. I was known enough among the other agents that they would call me and say"Hey, I know you don't have this type of listing right now but keep me in mind when you get one like it." I was known as the land specialist but it eventually came back to bite me when I had 2 sellers that questioned whether I was qualified to sell their houses that they were considering listing. At that point, I stopped marketing myself as a land specialist because it was costing me business.
An agent who is organized, possesses technology, has a system(s)or a team in place, handles increased workloads well. Further, a true professional will usually be the first to admit their limitations and decline business they cannot properly service.
I agree with Thomas, the comment you made about answering the phone shows that you are a capable agent regardless of the number of listings you have
Hi Elizabeth,
I think it all depends on the individual agents, but it sounds like your system is working out well for you. Keep it up! Thanks for the post.
Cheers from Lake Tahoe,
~Grace Yee
There in an old corporation expression - if you want something done, done right, and done quickly - give it to someone who is busy.
Great post! I'm working on my systems and organization now. It's crucial to growing this business. Thanks for sharing.
Thanks for the giggle. I enjoyed your post and you are absolutely right!
There are agents who cannot handle 2 listings, let alone 20. I have heard this arise before. I had one of my competitors tell a client (MY CLIENT) not to list with me because I was too busy for her. Bull. I told the client it was her choice of agent, and she could pick the other agent no problem but she should pick on qualifications and reputatation. I am busy for a reason. She chose me.
Hi Elizabeth, High Producitivity the result of good time management. Systems that streamline repetitive tasks is totally essential for good time management. If you master the systems, producitivty generally follows. Answering the phone provides a starting point for a conversation that then activates the systems that provide the potential for porducivity. Funny how all this comes together when there are no missing elements like experience, education, rules of the road, great personality and a whole lot of personal care and effort. Success actually does leave trails.
Elizabeth, thank you for such a thought-provoking post! You said it all so well, and so many others have added so much to the conversation as food for thought! I especially liked and agree with Ruthmarie (#26) about # of listings vs how long is their expired listings list! Excellent point! Also, as per usual, Broker Bryant (#34) added his point that "answering the phone is as important as being available and communicating clearly" and the equally pertinent point that "Having lots of listings usually means we have lots of buyers."
Very good read throughout! Thanks again!
Two good points here:
First is you choose to answer your phone which is great. I'm waiting- as I type- for an agent to return my call all morning so I can place a full price offer on his listing. And my client is waiting to hear I've submitted it....... its an agent with a lot of REO's. Need I say more?
Which brings me to my second point- it IS possible to have too many listings. Unless you have a crew of assistants, managing 200 listings is a joke yet we see agents who are in over their heads they have so many. And its typical they have not set foot in many of them or even know what our city is like......
Systems in place? Sure its possible but I have so many horror stories now that I try to avoid certain scenarios when I'm researching property meaning if I sense that I may not get good service from the listing agent, I try to avoid that porperty.
Hmmm - my current listing count is 43 - with 4 pending and 39 active. 23 are lots in a single subdivision - so I am actually managing 21 sellers right now. That may seem like a lot for a solo practitioner, but like the others I have good systems in place.
One advantage to my sellers is that I often have the opportunity to suggest their property to a buyer who contacts me about another listing - the crossover marketing advantage is huge!
"Do you have time for me" is a good question, but a better one is "what can you do for me". Thats what really matters in the end - unless you're looking more for a relationship than a result.
Hi Elizabeth...loved David Miller's comment (#4): "The customer just wants to feel as if he or she is the most important client you have." That pretty much sums it up. Great post. ;-)
You are so right - answer the phone and communicate reguarly.
Elizabeth,
I think it very much boils down to the systems you have in place and how you incorporate those tools to work in your business, so as an agent, you don't have to reinvent the wheel on each listing.
They say --- if you really want something done, ask a busy person to do it.
Give an important job to a busy person if you want to get it done.
Definitely answering the phone is the right agent!!!
We all started with none.
Great post! I loved how you ended it. I plan to tweet/fb this out today!
I find having a large number of listings (59) and marketing them well attracts potential buyers. I find I usually work about 60 hours a week. In this market answering the phone makes a big difference.
There are a number of agents who have a license who are not really spending much time working. I attended a class recently where some statistics were given that I found interesting. This was based on the Tucson MLS sales figures. What I was told was that 10% of the agents were doing 80% of the transactions. In the past it was about 20% of the agents who were doing about 80% of the business.
Jacqueline Drake CRS
Well said! If you can prove that you are available to him by answering his phone calls and questions, then that is proof enough you can handle it.
I am in the middle. I do not like working with employees and prefer to handle A to Z, which I know is a limiting factor. It does not make me a worse agent. It does mean I answer my own phone and deal with problems directly.
Answering the phone is a must but so is answering your emails and texts. How ever the clients are contacting you...it is imperative that you respond. If you are toooo busy for your own clients...you are too busy to take on new ones.
I have a maximum I work with and I keep a waiting a list.
Margaret
So true about systems! I've spent a fair bit of time working on my systems- they keep me focused and remind me to do things. Without them my sellers would be feeling ignored and neglected. Now I have more time to talk to my clients and I love it!
I think Erica (#59) hit the nail on the head. I suspect one of the other prospective agents she spoke to set her up to ask you that question. If she has any sense, she will make the right choice (that would be you, of course!)
You'll lose a lot of business if you don't have a quick response time. And every year the amount of time you have to respond to an inquiry of any kind gets less and less.
Wow! I think the fact that you have so many listings and can be a top producer is a very big sign that you are an amazing agent. That proves you know what youare doing and can get it done. I'd be more scared to work with the other agent (even if they answer their phone) if they have no proven track record to match yours.
Elizabeth, if you want something done, ask a busy person. You are the perfect person to handle this man's listing.
I always prefer being busy, but you're right, there is a good way and a bad way to be busy. I'm always try to stay as efficient as possible!
I love the fine print of your disclaimer, with the house possibly blowing up, vanishing etc! I wonder: how often do people even read the fine lines anymore?
The agent who is better is the one who does the best job for his client regardless of how many listings he or she has.