If you ask someone if they trust REALTORS®, they are most likely to respond in the negative according to the Re/Max Canada Survey from 2021. In this study, 51% of respondents felt that REALTORS® prioritized commissions.
Do you feel uncomfortable telling people that you are a REALTOR®? I think we have all experienced that moment of awkwardness when we share our vocation with someone and witness a noticeable shift in their attitude.
We have a trust and respect problem in real estate. The consumer thinks we are overpaid and under-skilled.
I think there is some merit in the consumer’s beliefs. While a skilled professional REALTOR® with advanced training and a strong ethical commitment is worth the fee they charge, lesser agents with little or no training beyond lead generation expect to be paid the same. It is reasonable for the consumer, who has been engaged with these poorly trained agents, to think poorly of real estate agents. And since there are significant numbers of untrained agents, the consumer loses respect and trust for REALTORS® in general.
It Takes More than Being Honest
Earning professional trust takes more than just being honest, though that is essential.
Professional trust has two elements –
Head and Heart.
Heart trust comes from honesty, integrity, transparency, compassion, and empathy. “I trust that you have my best interest at heart.” Unfortunately, much of the training in real estate puts the agents commission and productivity ahead of the client’s best interest.
Head trust comes from your competency. “I believe you have the knowledge, the skills, and the connections to get me a great result.” It is important to build your negotiation, communication, strategic thinking and problem-solving skills to gain this elements of professional trust.
People value head and heart trust differently depending on their unique experiences and values, but everyone needs some element of both. It’s your job to unearth people’s needs and respond to them effectively. Gaining high level communication and perspective taking skills will help you master this.
To be trusted, you need to be worthy of trust. That means prioritizing your client’s interests above all else – including your commissions – and mastering the skills required to get exceptional results consistently. You are a paid professional negotiator and gaining mastery in these skills will give people confidence in your ability to represent them.
Show Them, Don’t Tell Them
Ethics and excellence matter and being able to communicate that to people is equally as important. Telling people that you are trustworthy isn’t very effective. Gaining the skills, making the commitment and having the confidence to articulate your value are all necessary. Mastering these skills is a lifelong learning journey.
Showcasing your commitment to excellence and integrity is crucial in earning the trust and respect of your potential clients.
Be excellent at what you do, always put the needs of your client first, and communicate effectively to earn the professional trust and respect that we all crave and many of us deserve.