The 5 Standards That Will Save the Real Estate Industry
Welcome to the Solution - a Real Estate Podcast where Jeff Sibbach and Phil Sexton share what they see happening in the industry, ways to put the consumer first, and how we can collectively change the industry for the better.
Today’s podcast is all about standards in the Real Estate industry.
What we learned in talking to Elite Agents and Teams across the nation is that there’s little attention to what’s going on in the industry. That’s why WE are standing up to keep you abreast of what’s affecting our industry. Today’s podcast is about letting our audience know that we care about new rules in the industry and being at the table when decisions are being made.
Standard #1: Elite Level Performance
We believe that agents that do business should be held at a higher level than those that don’t.
In order for agents to be a member of LEOPARD, you must have 10 listings or 20 transactions with 5 listings a year (not a month, a YEAR). This helps differentiate between agents that are doing business with experience and those who are brand new.
Standard # 2: Verified Team Certification
What IS a team? Don’t you think that in order for a team to be recognized there has to be some level of standards that a team has so that they can be certified? Teams are taking over but there’s a “wild west” of what makes a team a team. The idea of a team is to improve the level of customer service and be a specialist to clients, not to make the team leader more money.
Standard #3: Customer Service Reviews
Have you seen an association or a brokerage or a team survey every client and publish the results publicly? Why not?
You need to maintain a Net Promoter Score which is a single survey question asking on a scale of 1-10 how likely are you to refer us to your friends or family. You ask EVERY client after a closing to get your score and then you calculate your yearly average. If you opt-in to allow every single one of your transactions to be surveyed, then you’ll meet the standard as long as your average is above 9.
Standard #4: Client-First Transparency
It’s time to break down the walls that hide listing agents, commissions, disclosures, inspections, and offers. And why are ethics complaints hidden from the public? This standard will have a public display of ethics complaints. We all know we need more transparency. As a member of LEOPARD, you’ll get access to a free tool where you’ll be able to upload a SPUDS. When someone comes to the house and makes an offer they can review the SPUDS and see what other offers were made on the property.
Standard #5: Bar Raised Apprenticeship and Ethics
Let’s implement a side-by-side apprenticeship model instead of having new agents fail forward. Stepping up on the level that agents need to be trained when they come into this business. In the apprenticeship program, they’ll work side-by-side with a seasoned agent for 2 years or 24 deals. This standard focuses on the quality of a new agent, rather than the quantity. When you raise the standards, you raise the performance.
Listen in for the full audience conversation and let us know what standard resonates with you the most.
Learn more about the National Association of Real Estate Teams: https://realestateleopard.com/
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