If you haven't read Jim Collins' "Good to Great" books then you may want to consider reading. It is geared towards midsize businesses but I think we all can take greatness out of it. What is the key difference between good and great? I think we all know there have been "good" businesses that failed and we wonder why. Because they weren't "great." Competition is not good, it is great. It makes us take a self-inventory of our business to stay ahead of the curve. Some argue that its irrelevant, they march to their own beat. Well, that's great too. Let me explain.
Great is the ability to be long-standing, full of character, and making a difference in our client's lives. So, let’s look at real estate agents for a moment. Real estate agent, broker, REALTOR, these are terms that we throw around but do we know what they mean? Unless you're in the industry, generally not. In fact, there are many home builders, lenders, and other related but not licensed by their state, that also do not know. So let's start with that, and I am limiting to Texas for terminology.
Licensed Real Estate Sales Person (LREA) - Licensed by the Texas Real Estate Commission meeting the minimum number of education requirements, answered 70% or more correctly, and in good standing.
Licensed Real Estate Broker (LREB) - Licensed by the Texas Real Estate Commission meeting the a significantly higher level of education requirements, answered 70% or more correctly, obtained experience (today assessed in points), and in good standing.
REALTOR - is a brand created by the National Association of Realtors, with a Texas consortium called Texas Realtor Association, and of course my city, San Antonio Board of Realtors. (Interestingly enough, San Antonio was the first city to iniatate a board, in 1911.)
Does a REALTOR mean they are good or great? Not really. That's just an organization that albeit we sign a character agreement, is just an organization.
Does being a LREB mean they are good or great? Not really. It is better than LREA due to the education and experience, thus knowledge, but one can still be a person of bad character or business practices.
Does being LREA mean they are good or great? Not really. Again, they are licensed and have the least amount of licensing credentials but very likely have taken many courses and seminars, and/or have better character.
So then, what is good vs. great & how do you achieve greatness?
1) Commitment to the industry by education, experience, and time commitment to their clients. I do have a strong opinion that unless an agent is on a team, you can't be as good as a full-time person when so many transactions are time sensitive.
2) Commitment to knowledge of your community, certain specialized areas, and just overall business knowledge. Without this, agents are just average.
3) Consistency. How many of us have had inconsistent services and therefore disappointed? Longevity means systems and consistency. You cannot be short lived and great.
So, there you have them, my benchmarks for greatness.
1. Be committed
2. Be knowledgeable and keep up with trends
3. Be consistent, in your work ethics, character, and services.
When your counterparts are sending you accolades for going above and beyond, maybe you are great! This most recent comment below is from me walking a buyer's agent and her buyer through a complicated listing for a short-term rental. I needed to make sure they fully understood this investment property to increase the likelihood of putting in an offer at the highest price.
If you want a Texas Licensed Real Estate Broker, REALTOR, who goes above and beyond, call 210.560.1891 today!
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