In New York City’s fast-paced real estate market, we know that it can seem counter-intuitive to think that the death of the salesman has come — but come it has. At Feeder, we’ve been observing this trend build for some time and wanted to share with you our thoughts and ideas on how to consider approaching real estate transactions so that it is as fruitful for you, and your clients, as possible.
The salesman as an idea is almost folkloric in America. In the past, we would see salesmen play an important role in people’s lives because when they bought a property or business, they would stay in the same place for their entire life. These salesmen were critical in these once-in-a-lifetime purchases, but the salesmen themselves knew that it would be unlikely to have repeat customers.
In today’s market, we’ve seen that trend almost completely reverse itself. No longer do we see people buy a home and stay there for their lifetime; in fact, it’s rare for people to stay longer than five to ten years in one place. We’re seeing the rapid purchase and sale of real estate and businesses all throughout New York City, with the tempo growing ever faster.
In this new reality, the salesman stops being someone that is met with once in a lifetime, and instead transforms into something much more valuable: a consultant. In today’s real estate market in New York City, it is critical that agents think of themselves as more than helpful guides in finding their client’s next home. Real estate agents need to become much more than that — they need to become partners in the process who understand the motivations and desires of their clients, so that the relationship can build and continue, as the need to sell and buy again arise, as it will time after time.
Real estate agents who look at the market in this way will find vastly superior compensation for their work; they’ll have an incredible roster of clients who return to them again and again, as their clients get better paying jobs and want a more expensive home, need more space or decide to move abroad and need to rent out their apartment.
We are proud of our Feeder agents that they approach each opportunity to meet with a client as the potential to build a lasting relationship. No longer considering themselves salesmen, our agents, or real estate consultants, meet with their clients armed with the most current available information, that is updated in real-time, thanks to advances in technology.
This change in the mindset of our agents has afforded them incredible opportunities and they are delighted with the relationships that they are building with their clients. If you are interested in joining a dynamic firm that values developing you as a real estate consultant, we would love to talk. Or, if you’re tired of having worked with too many real estate agents that are looking to hustle you, we’d be happy to talk with you about how we can be your real estate partner in finding your perfect home for you, today…and maybe tomorrow, too.