What exactly do real estate agents sell?
The answer seems obvious, real estate agents are in the business of selling real estate – they always have been and always will be.
But as the real estate industry evolves and adjusts to changes in technology and in consumer expectations, it’s important for us to revisit what we do and how we work to see if the old approach is still relevant. Here, we can turn to Peter Drucker’s seminal Harvard Business Review article titled The Theory of Business for some inspiration.
In it Drucker challenges businesses to constantly question their assumptions on which their business was built to see if they are still relevant. Most importantly, Drucker challenges readers to question their assumptions about what they get paid for.
In a world where today’s consumer has just as much information about real estate and neighborhoods as their agent, do they really need us to sell them a house? Is that the most important thing they want in an agent?
Do they need someone who is going to convince them why the house they’re looking at is the perfect house for them? Does a seller need their agent to convince them why “the first offer is always the best offer”? I don’t believe today’s buyers and sellers want to be sold real estate and yet this is what most agents continue to focus on selling.
If agents shouldn’t sell real estate, what should they be selling?