Customer Analysis on Realtors
They serve as the middlemen between the sellers and purchasers of real estate especially residential houses. Expected to act in good faith to its clients at both ends, realtors minimize the actual costs of selling or buying real estate including attached transaction cost such as transportation and communication. When a real estate owner finds it difficult to sell his/ her property due to unattractiveness of location, construction and price, realtors can absorb the burden of finding a willing and able buyer.
Also, when a prospective real estate owner has a limited budget or has preference over some real estate designs, realtors can offer their real estate portfolio of potential sellers. In some countries especially United States, the general rule is that fiduciary obligation of realtors remains on the seller (i. e. implicit) until a written agreement with a buyer is signed (i. e. explicit). As realtors are licensed real state agents, legal and regulatory constraints are vital to the success of their careers.
Characteristics of realtors The ethical standard of REALTORS directs them to cooperate with competitors and show support to co-realtors especially on avoiding competition with clients that they already obtained. There are about one million members of National Association of Realtors that make real estate broker qualified of being called realtors . This composition comes from different parts of the country with over sixty countries covered which is an additional credit on the reputation of the Association.
They pay annual dues to the Association and also derive several benefits from the organization such as re-training programs, consumer awareness, identification to one of the most respected real estate association worldwide, and the benefit of accessing its online portfolio on houses, market and industry updates. REALTORS are committed to fair and non-discriminative housing especially in the US. This shows their potential on becoming on of the industry leaders in the real estate brokerage industry.
They are active in conducting education about fair housing that helps buyers and sellers in house-related decisions. Only half of US real estate brokers are realtors which specialized in trading residential and commercial houses, vacation homes and land properties. Further, they can also provide special services such as appraisal and auctioning to further assist its clients. As realtors abide to professional standards, they arrive at decisions based on data and research as well as guided by professional conduct.
Benefits of realtors from concierge service
There are two primary use of a concierge service to the work of realtors . In the pre-selling of the property, the prospective buyer can be more satisfied to see the real estate as organized and clean. It can help them believe that the value of the property exceeds its priced being offered. Another, after the deal is closed and the buyer is decided to buy the property, concierge service can be tapped in order to help the buyer relocate into the property.
This feature can increase the probability that the buyer will be a repeat customer or even take the name of realtors as a word-of-mouth marketing. Doing necessary repairs, re-painting the interior/ exterior of the property, developing the garden and applying the final touches on the property to be sold can boost its appeal when furniture are not covered in plastics and white cloth rather ready for use. The special services under a concierge such as wait services (e.g. package/ furniture delivery) and decorating services is in line to their customer focus and ethical standards. These value-added offerings minimize the idea of natural impression of the public against real estate brokers being commission-oriented. Realtors services are being felt even after their actual responsibility in the transaction had already expired. The “acting in good faith” clause is upgraded into excellent stewardship to the welfare of property buyers.
On the side of the sellers, the services they got in the transaction makes their relationship with realtors stronger because on the ability of the latter to seek new ways of improving the marketing capabilities of sellers. With additional value derived from the concierge services, competition with other real estate brokers and co-realtors can be reduced with REALTORS gaining the market where excellent customer service is required. Specifically, the market in which REALTORS will be stronger is the market that seeks integrated-brokerage servicing.
There are homebuyers that use the property as the beginning of their family lives. As early as engagement date, partners are likely seeking the advice of a realtors . This situation can give rise to further relevance of concierge service as some service providers such as Moments Concierge are offering special event planning. This extends potential satisfied buyers requiring integrated brokerage service from future partners to birthday gifts to ageing parents from their successful child that is currently bachelor.
In addition, there are also services wait services that refer to delivery of package and furniture. As mentioned earlier, this increases the probability of re-purchase to the REALTOR that close the deal. With regards to busy homebuyers, realtors can offer the daily errand services from concierge providers. This includes daily chores as bank depositing, shopping, meal delivery, laundry and other errands, which can simplify the life of a busy professional. As observed, the common clients of realtors are in line with the extended services being offered by concierge providers.
Tapping the resources and strengthening the relationship of the Association and concierge provider such as Moments Concierge can bring difference on the industry. Moments Concierge may be able to help realtors, and brokers to close deals faster. They provide them with different packages such as Home Buyer’s Incentive Package, which will provide the potential buyers in moving or assist them well after settlement, and Broker Open House Coordination, which “enable agents to work their open houses more effectively” by increasing their one-on-one time with their potential buyers”.
Moments Concierge online provides fast details regarding their services to realtors. For more personal communications, they can be contacted at 866-776-9797 and they may provide new client discount. Their hours of operation are 9:00 to 5:00 pm from Monday to Friday. During Saturdays and Sundays, the services they offer in Baltimore, Maryland may be accessed by appointment only.
Otherwise, they can be contacted when there is a request for their service by filling out a request form at their online site, http://www. momentsconcierge. com/1380061. html, and Moments Concierge consultants will contact the respective client within 24 hours.
Reference
- Downie, L. (1974). Mortgage on America. Praeger Publishers. New York. Moments Concierge (2007). Available from <http://www. momentsconcierge. com/1380058. html> [Accessed 22 October 2007] National Association of Realtors (2007). Available from <http://www. realtor. com/> [Accessed 23 October 2007]
