Generating new sources of business and revenue.

Blog

The Bridge

BLOG

The Bridge

Do you want to amp up your company generated business game? The Bridge is where the real estate, relocation and mobility industry can discover how taking a new path doesn’t have to be scary. Teresa R. Howe is an expert in her field with years of successful program and services development and management. She has a passion for helping companies be the best they can be. Do you want more revenue, more customers and better experience management? Get tips on how to compete more effectively in a world of constant change and disruption. You might also come across some random thoughts that just pop into her head.

Stop Assuming!

I'm sure you've encountered what I call presumptive communication. It's when a company or a person assumes you know something, leaving you feeling frustrated and disconnected without the necessary information. I've seen it happen all too often, and recently, it hit my desk three times in quick succession.

Three strikes.

The first was from a company that does background checks and other employee/HR-related services, and I somehow got on their email list. The email was an eCard, and it repeatedly talked about MVR monitoring and its importance. I don’t know what that is, and they didn’t bother to explain or define it. While I am not their audience, I might know someone who is. Unsubscribe.

Then, I got a newsletter from an industry service provider who was excited to announce they were attending the GBTA convention. I don’t know what that is, and they didn’t define it or explain why they were excited. Unsubscribe.

Lastly, I got a promotional email from a broker. The signature line did not include a website link or reference to their service area or address. So, I had to look up their area code to see where they are located and search them on LinkedIn to see the full brokerage name. It said something like, ‘We love your referrals!’  That’s fine, but where would I send said referral?

However, the most glaring, bone-crushing example of presumptive communication is evidenced by the recent courtroom antics and results of the NAR Settlement. Not only does the average real estate buyer not know what an agent actually does to help them locate a property, negotiate, handhold, document chase, and coordinate all of the hundreds of details it takes to find and close on a home, but even the attorneys couldn’t clearly articulate their value in court.

Why are we making it so difficult for our audience to understand our message?

Clear and informative communication is not just a preference; it's a necessity. We are responsible for ensuring our communication is engaging and providing the information our audience needs to form opinions. We can’t assume anything, and we certainly can’t expect them to go the extra mile to get the information they need because we didn’t provide it.

Using presumptive communication reflects a bit of arrogance. It’s like the readers should know what we are talking about, and it’s above us to use a few extra sentences to give them what they need. We know, so why shouldn’t they?  It’s simple to adjust how we communicate as if we were outsiders with no background to draw from. I am as guilty as anyone of talking in our relo speak.

  • We use too many anagrams and acronyms without defining what they stand for at least once in the communication. BMA, CMA, WERC, RDC, CRP, GMS, RMC. I know what they all mean, but people new to mobility may not.

  • Have an informative email signature line that has your company name, your email address, your website link, social links, phone number, and your service area, either in the form of a mailing address or a sentence that says ‘serving ________________.’  That is critical, particularly if you service a multi-state or a vast area. Unless the name of your service area is in your company name, make sure you tell people clearly. Adding a headshot is a nice touch to reinforce who you are, so if you can meet them, they will recognize you.

  • I beg you to change your settings and add your signature line to your reply emails. It is literally just a setting in email. Then, people don’t have to scroll down in the string to get your information. This is particularly important for brokers who work with Relocation Management Companies (RMC-see what I did here?). Those consultants get hundreds of emails daily, and you need to make it easy for them to identify who you are and where you are.

  • We must better communicate with our supplier partners and sources of business about our pain points and how we can support one another to make everyone’s job easier. We often operate in a vacuum, assuming every player knows our challenges. It’s not whining. It’s educating.

  • We send out confusing marketing materials or talk too much about ourselves. Focus on the why. Sure, the features of our services are important, but what are the benefits to the end user? Why make the effort or spend the money to do the marketing if it doesn’t convey a clear message about what we can deliver and how the user can access it?

  • Ensure your buyer’s agent team's materials for the transferees contain super clear and transparent information. Relocation Directors should review every single team agent’s buyer materials. Have you thought about sharing what a solid buyer’s presentation looks like with your favorite RMC? It can help them understand how the dialog with a buyer should look about all of the changes. Their consultants will have the preliminary discussion with the transferee, so they need some talking points.

  • Conversely, do the same with the listing team. Agents may need to discuss the listing commission more in-depth, particularly if it is not dictated in the transferee’s benefits policy.  Advise without steering or scaring.

As relocation and real estate professionals, we have been prone to assume a lot over the years.

We assume that:

  • People understand what we do and what our jobs entail.

  • Your leadership team understands your day-to-day impact on the company and the business.

  • Your broker owner would never re-evaluate your role and your department’s role in the company's future.

  • RMCs and corporations know how commissions break down and who gets what.

  • Everyone is paying close attention to what is happening around the NAR Settlement.

  • Business sources will have new policies and procedures figured out by August 17th.

  • Sources of business know the ramifications to brokers and agents if they do not comply with the NAR Settlement changes.

  • Transferees have been counseled clearly on their benefits and how they will affect their relocation.

  • Sources of business know what distinguishes average brokerages from great ones.

  • Just because you work for a well-known company, that will equal business.

  • Since you have gotten business from a source in the past, you will continue to get it.

  • Your agent team is up for what lies ahead.

  • Industry players will immediately associate your name with your market area and your company.

  • When we communicate, the listener or reader understands our jargon.

  • The relocation business will return to its glory.

The above are terrible assumptions. How would you change your business practices if none of the above was true? Let me know how I can help make your communication and marketing clear and compelling.

“When you ASSUME, you make an ASS out of U and ME!” ~ Unknown.

Teresa Howe