How Century 21 (and a little good service) Got the Deal!

My family has been associated with Century 21 in some form or another for ten years now. There's no doubt that we are loyal to the brand for a multitude of reasons (brand recognition, positive past experience, outstanding service, etc.).

When we considered changing companies in 2007, we explored plenty of options, interviewed lots of companies, and carefully evaluated what each brokerage had to offer. At the end of the day we did change companies, but our new brokerage is still under the Century 21 name brand.

I got a call in the other day regarding a rehab property I have listed for sale. The buyer was looking for a project that could be completed by March 31st, and I explained to her that due to the condition of the home and the work (and associated permits) that was needed, I did not think that the project could be completed within that time frame.

I also informed her that I did know of a couple of OTHER potential rehab projects that might be able to meet that time table, and offered to forward that information along to her. She agreed, and five minutes later the information was sent. I got a call later that day, and she said that she would like to go out and view the property. I agreed to meet her at the property that afternoon, and the appointment was set!

When we got to the property we evaluated the condition and she decided that the project would be perfect for them and we decided to submit an offer. I had called my lender in advance to make sure he could do a late evening pre-qualification, so by the time we got my office, I had a lender who was able to get us the necessary paperwork required!

After running the comps we decided on a purchase price and put together an offer THAT NIGHT! While we were filling out paperwork my client mentioned that she had been speaking with an agent from XXXXXXXXXXX, and had decided not to work with her at the last minute, choosing instead to go with us!

I was a bit surprised, and when I asked why, she said that the other agent was from an off-name real estate company, which she didn't like. Not only that but when she found out that the agent didn't have an office (she worked from home) she was further put-off.

Here's the straw that broke the camel's back: The other agent had emailed an exclusive agency agreement and told them to just fill it out and email it back when they got the chance! It turns out that they had met the agent once before at a local eatery and they felt the entire situation was unprofessional.

This really sent home a few good points for me and my team:

• Brand Name Matters! It's not the sole ingredient, but it's a significant part of projecting and maintaining a professional image!
  

• People Notice Your Office! Be aware that not having a brick and mortar office can hurt the image you're trying to convey!

• Stay On Top Of Paperwork! Another agent blew their chance at this deal because they were casual about getting agreements signed!

• Prepare For The Best! The DOM was <5 days, it was a deal and multiple offers came in on it. Because I had arranged with a lender in advance to do a late night qualification, we were able to get our offer in immediately.

• Know Your Market! I didn't have to search for other properties that matched their criteria because I already knew about them. We set up daily email feeds for all homes that match the criteria of our listings so that we know what our homes competition are!

• Be Flexible! That same day we signed a new 750k listing, showed 2 of our listings, ratified a 575k contract, wrote a new construction offer on a 564k home, and negotiated on a currently pending contract. Our day was already busy, but we still managed to meet this new client, show them a property, pre-qualify them, and submitted an offer on their behalf.

I ended up spending 16 hours at work that day, and I would have considered it a productive day even without this last-minute deal! I certainly don't relish the idea of working 16 hours every day, but I'm not going to give half-rate service to my clients, either. At the end of the day we were able to learn a lot about what people perceive the Century 21 name to be.

They made the assumption that by working with a Century 21 agent team they were going to be getting outstanding service from experienced, knowledgeable agents. An independent company may have been able to provide the same quality service, but in this case they didn't. It could have been lack of experience; lack of concern; or "insert excuse here".

The bottom line is that having a brand name like Century 21 behind me helped my clients feel more comfortable and confident with me and my team!

~Jonathan Benya
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000
301-653-8116
Waldorf and Southern Maryland Real Estate
Southern Maryland Real Estate Blog