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Welcome to the whole new world of the Internet
Empowered Consumer (IEC)! They represent a fundamental change in the way
we, as real estate professionals, deal with potential customers. In fact,
for the first time in the history of the real estate profession, the consumer
(i.e. the IEC) is in control. The IEC has control (of their own situation)
because the Internet provides them with: A shield of anonymity --which
protects them from unwanted, intrusive, or "pushy" behavior A buffer from the 80% or more
non-verbal communication that occurs face-to-face and 40% or more non-idiomatic
communication that occurs on the phone --which protects them from feeling
dominated by powerful sales personalities Nearly unlimited amounts of information
concerning properties, financing, and the overall transaction process --which
gives them the confidence to feel they are not entirely helpless The advent of the IEC brings out an
interesting irony in our business. Many of us have been taught to
"take control" of situations with prospects when meeting them for the
first time, either face-to-face or on the phone. We probe, ask qualifying
questions, mirror, request their name and contact information, and try to get
them to work with us exclusively. While this process can work well with
the traditional real estate consumer, it can be counterproductive with the IEC. In fact, the very things we've been taught to succeed in sales with the traditional real estate consumer, will actually work against us with the IEC! Once you give up the
notion of "control", the only thing left is relationship, which
ultimately is a much more powerful way of working with clients and prospects. There are four principles of creating
relationship online, and each one implies a certain behavior or attitude shift
in order to be successful when working with the IEC: PRINCIPLE #1:
The IEC is in control, and they like it that way! - don't "push"
the IEC to move faster or reveal themselves sooner than they are ready,
otherwise you are likely never to hear from them again PRINCIPLE #2: The
IEC expects their online privacy to be sacred - you build trust by
explicitly reassuring the IEC that you will respect their privacy via a privacy
statement link on all your Web site forms PRINCIPLE #3: The
IEC values: a) their time; b) saving money; c) having choices - be
flexible and ready to tailor your services and fees to meet the needs of the IEC
rather (e.g. Fee for services) than force them into a "one model fits
all" situation PRINCIPLE #4: The
IEC will not do business with you until: a) they trust you; b) feel you
have their best interests at heart; c) know you have the expertise to help them
- you build relationship by giving the IEC what they want (i.e.
information, advice, etc.), without requiring them to reveal themselves and in a
way that let's them know you are the expert I refer to the
process of creating relationship online as the Art Of The Thread Of
Relationship™. It is interesting that Internet-savvy professionals
who have mastered this process often report that their online client
relationships are far stronger than if they had met them face-to-face or
on the phone first. I prove this non-intuitive result at every full-day
seminar I conduct around North America. Old Habits Die Hard What all this means
is that real estate professionals who are used to doing tons of business in the
traditional way, via taking "control" of the agent / client
interaction, may find it difficult to successfully transition to doing business
with the IEC. The desire to take control can be a hard habit to break. However, those
professionals who already work from the position of "relationship" in
traditional real estate, will find the transition to working with the IEC quite
natural and satisfying. Typically, these folks are already enjoying top
success because the business comes to them seemingly effortlessly. Doing business on
the Internet is less forgiving than the offline world, because the IEC (and not
you) is in control. Learning how to work with the IEC effectively through
the process of relationship is undoubtedly one of the most important skills you
can acquire as we enter the new millennium. One that will result in more
business as you work with clients who will, more often than not, also become
your friends --what a concept! |
