Great relationships don’t just happen—they’re created. In the following interview, Randy Smith with Equity Real Estate offers insight into motivating agents, cultivating relationships, and more.
Equity Real Estate
American Fork, Utah
Region served: Salt Lake Valley to all of Utah County
Years in real estate: 23
Number of agents: 100
Favorite tech tool: One of the great things about Equity Real Estate is that we stay progressive. We have a mobile app through MobilityRE so that clients can search for properties from their cellphone.
Best advice for new agents: Have a creative business plan and integrate systems into your business to make it consistently predictable.
What is the most significant trend positively affecting your business?
It seems that not only millennials, but also Gen X and boomers, are using their smartphones for everything. That’s why we’ve put considerable money into mobile technology.
How are you preparing your agents for the future of real estate?
I just returned from Washington D.C. where I attended NAR’s Midyear meeting, and this was a huge topic of conversation. We believe in being the frontrunners and taking the latest and greatest technology and integrating and implementing it into our business so that we can be the future of real estate.
What is the most effective way to motivate agents?
Every Monday we have an integration class. The synergy that occurs by bringing everyone together is palpable; we always have some type of motivational video that puts people in the right mindset. Letting others know what’s working for them creates a symbiotic relationship between our agents and our office.
What are some of the most difficult challenges buyers face today?
In our marketplace, it seems like every property that’s in decent condition and priced reasonably is in demand and attracting multiple offers. The lack of supply and tremendous demand makes it very difficult for buyers to have enough inventory options so that they can find a place and not have to fight for it.
What demographic segments are driving your business?
More and more millennials are really starting to hit the market in force. They’re becoming those first-time buyers, fueling our housing economy.
What strategies do you have in place to reach out to first-time buyers?
We have some great marketing campaigns that we send out to apartment complexes and places where renters are because most of them don’t know that they can own a home. Our campaigns focus on letting them know that if they have some decent job stability and reasonable credit, there’s a very good chance they can get into a home.
What do you like most about the region in which you work?
I love helping people find what they’re looking for and the joy that they get when they walk in the home and look at each other and say, “Wow, this is the place.”
For more information, visit http://equity-usa.com.