By Peter Hernandez, Teles Properties (www.telesproperties.com)

With a competent agent and a savvy sophisticated client probably not. In this case the experience of the agent and client dictates a defined accountability of what each expect from each other and the service is commensurate with the fee and the level of satisfaction high.

But take the average consumer who only buys and sells maybe one to three times in their life time and the average agent that does one to three deals a year and you have a different situation.

Most Real Estate companies do not have production or service standards.

Agents can stay with the company even if they have not made a sale for several years. Agents are rarely terminated except for the most serious offense. What other industry allows zero production or worse incompetence from an employee or representative of the firm?

The traditional firm also has a very lackadaisical hand-off approach with its agents with very little accountability back and forth between them except the mandatory regulatory and contractual requirements of the Department of Real Estate. Rarely do firms set and require minimum standards of care that are actually expected to be performed.

This leaves the service standards individually set by each and every agent in the company whether new or experienced, competent or not and management allows this to happen relying on the number system. If you have lots of agents someone is going to make a sale and someone is going to do a good job.

20% of the agent population does 80% of the business, or so they say. What we do know is the market is controlled by the competent and experienced.

What if a real estate company only hired competent and ethical agents and set accountable service standards between the agent and the consumer, the company and the consumer, the agent to the company, and the company to the agent? At Teles Properties (www.telesproperties.com), we think this is a good idea.

Filed under: Uncategorized on July 22nd, 2009