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CNNMoney.com is not the only one at fault — old habits die hard up and down the real estate chain, including among those whose compensation depends on creativity and entrepreneurial thinking.
Those thinkers are, of course, real estate agents, the folks on the front line who often hold the key to success or failure in the nation’s various housing markets.
No one will deny that the challenges faced by agents in this housing market are unlike any in at least 30 years. Yet, together with homeowners, who rely on their experience and expertise to generate the largest sale price in the shortest time, too many agents are showing too little creativity.
One old habit example is the traditional open house. Unfortunately, they are still very traditional and if you have been to one, you have been to them all: The house and grounds have not looked as good since the house was sold last time. Inside, there is an agent who looks professional and who stands ready with literature to support the sale. The agent is ready to answer any questions, of course.
The reality is that the atmosphere in most open houses is like a wake. The real estate agent is the undertaker and the verbal presentation is a eulogy.
That format may have worked for decades. But different times (not desperate times), call for different measures.
Today, the open house should be more like a party — a good party where people stay so long you have to kick them out. The house should be filled with music, food and people, even if those people are the friends and family of the agent and seller.
The other habit that needs to die — and quickly — is that of keeping the buyer and seller separated during the sales process. The rationale for this is that agents are afraid that sellers will say the wrong thing and wreck a potential sale. But this is antiquated thinking. We bought our current home while meeting the sellers not once, but several times. Besides, agents have been known to sour a deal from time to time, too.
Kick the old habits. Think outside the box. And most of all, make sure your old habit news source is giving you all of the news you need to make the right real estate decisions.
STEVE SMITH is a Costa Mesa resident and a freelance writer. Send story ideas to smi161@aol.com.
