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As a REALTOR, your core competency is the basis for whatever makes up your competitive advantage.  So what are your core competencies?  I would answer this as anything you provide your client that contributes to the benefit your client gets from your service.  Secondarily are the systems you might have in place to deliver these to your clients. 

What is unique about your own core competencies is that it is hard for others to imitate or compete with, since they can be uniquely yours.

Allow me to illustrate this.
Let's say one of your core competencies is that you are passionate about your career.

To be qualified as a Core Competency it has to be a benefit to your consumer or client.  So how does being passionate benefit your client?

If you are passionate about your real estate career, you would want to learn it as a craft and you would want to learn not only the principles but also the nuances, those daily machinations to make real estate successful as your career and to earn your livelihood from.  It's a complex industry that not just about listing or selling a home but is one that it is also governed by laws.  Do you know them and how they benefit your client.  The real estate industry is supported by the lending industry.  Do you understand lending practices and do you keep up with the many changes in underwriting, how the industry works and its laws governing its priorities.  Home inspectors are also a support industry as well as home staging.  Support services like escrow and title. Passionate to specialize in your own unique and valuable way.  What do you know about other industry related specialties?  When you counsel with your client are they getting the best advice from you and do you know and relate useful information that others don't know . To me,  this ability demonstrates the value of your passion. 

Here is a list of some of my own core competencies and a brief explanation about why they are unique to me and how they benefit my clients as I pursue my professional career here in San Diego Real Estate.

Visionary -I see things not only the way they are but also the way they could be. I see the obstacles and easily provide solutions to over come them.

Passionate - I love learning. I love sharing what I now and am also always willing to learn from my clients.  I want always to provide the most up-to-date information to help my clients to make their own best decisions.

Communicative - I have a regular schedule of communications and updates that keep my clients informed of both my progress and the normal scheduled events that place during a transaction. Phone calls are useful but e-mails work best in keeping a good communication log. A recap of phone conversations keeps things on track and when there are things the clients need to do, e-mail are useful reminders. I get compliments from my clients that they are kept well informed and engaged in each step of the progress to closing their transaction.

Strategic - I have established  wonderful and reliable alliances with my peers.  I always show respect of others in my profession and understand that I am only as good a REALTOR as the people I surround myself with.  When I list a property, I certainly don't know all the buyers and not even likely to know "THE"  Buyer. I build bridges with my peers to make it easier for them to help my seller get their homes sold and my Buyers to find the home they are looking for.

Focused - Setting priorities and delivering always more than I promised.  I will spend in resources, time , money and energy,whatever it takes to do the ultimate best job with the results that I have proven I can deliver.

Persuasive - with the right insight, with the most up-to-date information, I know how to build the case in providing my Sellers and Buyers information to assist them in making their own best decisions. That information is always trackable should it ever be needed for assisting them to defend their decisions. We always seek out the best in professionals in their support of my clients as they bring their expertise into the mix for the "Best" decision making.

Understanding and Compassionate - When working with Buyers or Sellers, I try to position myself in their situation and from their vantage point. I listen and learn what the problem is and then with patience and care, design a solution that works to provide a solution. I see my relationship with my clients  as Employer and Employee and it is my quest to convince them in words and actions that by hiring me, there will be a measurable value. Like an Employment contract, if they are ever dissatisfied, they may cancel my employment agreement. It is also my charge to make sure they make as few errors as possible by first clearly understanding where they are and then where they need to go and provide that course with expert and professional guidance along way.

 

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Courtesy of William Johnson GRI CRS e-PRO author of The Real Estate Text Book and The Voice of San Diego Real Estate

Disclaimer: The information contained in any post written by William Johnson is deemed reliable but is not gauranteeed and the opinions expressed in these are writings are my own. I disclaim any liability for any damages or loses direct or indirect that may result from use of, or reliance upon any information contained in this blog or for the accuraacy of comments or opnions expressed by others. You are advised not to rely on any information contained herein without your own verification of the information.

 
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48 Comments on Understanding Your Core Competencies in Real Estate Must Deliver More Value To Your Consumer

William, very good post, thank you.  It is helpful to have someone spell out why these competencies are beneficial.  I guess that I am trying to say that I have a hard time putting it into words, thank you!

07/05/2008 12:56 AM by Tony & Darcy Cannon - The C Team (ERA Realty Center)


Passion, Vision, Strategy and Persuasive. Sounds like a plan for many great biz relationships!

07/05/2008 01:13 AM by Celeste "SALLY" Cheeseman (RA), e-PRO HAWAII Real Estate & HAWAII Relocation (Century 21 Liberty Homes -Mililani, Hawaii)


William, your posts are always chuck full of wonderful advice! I hope you have a wonderful weekend!

07/05/2008 05:37 AM by Linda Scanlan (A Fan of AR)


William, too bad MANY other realtors do not feel compelled to be as competent as possible... like you do!

 

07/05/2008 06:29 AM by Susie Blackmon-Maggie Valley Waynesville NC Realtor/RE Blogger/Photographer (COLDWELL BANKER Kasey & Associates)


William, you truly are the epitome of what makes a REALTOR not just special but heads higher than the rest.  You never waver from who you are and I'll bet you are never satisfied unless you hold true to all of these values and high standards you set for yourself.  It is an honor to call you my friend and I'll bet that all of your clients should feel the same way!

07/05/2008 08:33 AM by Lake Norman Real Estate ~ Diane Aurit (RE/MAX at the Lake)


Good Morning Tony and Darcy, Some people have a gift for words, other have a gift of instinct. It matters little which is the case as long as it works for you. Thanks you for your gracious remarks and know that they are very much appreciated.

07/05/2008 09:25 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Woo Hoo, it seems to work. Though I will admit one of my core competencies is sort of out of whack-Prospecting. You will notice that I didn't mention it in the post. Seems I would do well, to focus more on it than the hopefulness of trying with all my might to create my on-line presence. I admit that I have let one slip while I built the other. I believe there will be a payoff one day but when one creates a life style that requires a specific level of production and then allows it to slip, it creates a level of stress that affects all the other core competencies. My strengths though they be great, are hampered by a shortcoming that I alone allowed to happen. Sure wish I could place the cause somewhere else. Like blaming the market. I am too smart for that unfortunately. It drives home the point even more clearly that it is all ( core competencies) important and it must also be in balance.

07/05/2008 09:32 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Linda, Thank You so much and I hope you have a wonderful weekend as well. I have no plans of working,lol, at least on business. Time to catch up on some serious computer work and posting and commenting and filing and organizing and and and........

07/05/2008 09:35 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Good Morning Susie, Why thank you so much, that is and has been my goal and like most, I always fall a little short of my own expectations. But it keeps me motivated knowing that I can greatly improve in all things.

07/05/2008 09:37 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Good Morning Diane form San Diego. Sunny warm and the day is filled with promise. Thank you so much for your every kindness and your words always inspire me to be all that I can be.

You know Diane, there is something amazing about what you said. Not specifically about me but in the general sense of always empowering with kindness and applause. It keeps a person moving in a direction to deliver the very qualities that you describe in them.

When children are growing up. most parents know that the positive reinforcement helps a child aspire. But as adults, we often become cynical and fail  to inspire the best in others by describing the behavior or the qualities in them that we admire.

You never fail to inspire me to always seek the best in myself and you applaud it , sometimes before it even happened. But it is assured because you gave the benefit of the doubt and caused the best to be pursued. You really are an amazing person and I am also so honored to call you my friend.

07/05/2008 09:46 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


LOL, William! You just made me tired with all the "non" work you're planning to do! I think I need a nap...

What ever the day brings I hope it finds you abundantly blessed and happy!  ;-)

07/05/2008 09:47 AM by Linda Scanlan (A Fan of AR)


Too Funny Linda. Did you ever check out NVU.com. You will like it and it is not difficult to learn. Cynthia Tilghman shared t with me and it is an interesting program. Does lots of things.

07/05/2008 11:35 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


I looked at nvu, but it scared me! I'm not very techy. Have you created anything with it yet?

07/05/2008 11:41 AM by Linda Scanlan (A Fan of AR)


Hi Linda,

Yes, I went back and did a makeover on a previous post just to try out some font changes and added some colors.

http://activerain.com/blogsview/576531/An-Easy-Way-To

07/05/2008 01:02 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


William, I particularly liked your core competency of being passionate. Without that I think any of us should do something else. It is what drives you. I always think core competencies are what you are good at and what you don't delegate to others. Your core skill set. I would add great communicator in there for me.

07/05/2008 01:12 PM by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)


Great post!  I agree 100% with you.  That's why there 20% of agents who make 80% of the business.  LOL!!!

07/05/2008 01:22 PM by Andy Park (Weichert Realtors FH Realty)


William, we share similar core competencies leading with the first two up above. Regarding what you later said about your shortcomings, I say it takes wisdom to know which pillars must go up first, for near-terms sacrifices to pay off later. I'm making many similar sacrifices now as well. I'm deliberating going back to academics and further my education. 11-12 years in the business world has prepped me for something I wasn't ready to accept earlier in life. And I suspect I will get much more out of it now that I would have then, knowing what I known now. Soon, my shortcoming will cease to exist and it will be a meaningful, long-term triumph.

07/05/2008 01:33 PM by Michael Tarabotto (Certified Appraiser) Santa Clarita, San Fernando, Westside (California Appraisal Solutions Corp.)


William-You identified your core competencies very succintly- you are obviously good with words.  I can learn a lot from you, and do.   I found it interesting that you put understanding and compassionate at the bottom of your list!  As my first career was as an RN, that would likely be higher on my list, but if I developed some of the other areas more, I would likely do more business!!  Thank you for the post.

07/05/2008 01:45 PM by Carol Lee Realtor ® Agoura, Oak Park, Westlake CA Homes (Coldwell Banker Residential)


A well deserved star, William. You've pointed out how important it is to tell the benefits. Your relationship with other agents really benefits your clients as they will all want to sell your properties, or have them sell yours.

07/05/2008 02:05 PM by Sharon Simms St Pete Florida CRS CIPS CLHMS (RE/MAX Metro)


Hi Gary, I so heartily agree and should have added that. That of course is Michael Russer's key pint in his classes. It is what you are good  at and don't delegate. Perhaps you are a graduate of his as well. Even if not, you certainly do know how the CC's work to the clients best interest.

Being passionate is obviously primary for both of us and likely for many many others. I learned something the other day that was interesting and very insightful about ones passion.

Remember all the conversations around here on AR about the gamers. There have been probably hundreds of posts about the subject. If one were to take a look at their business acumen and philosophy, these are the type of personalities that would say, be more likely to get involved in the sub-prime crisis or other type of situations that usually just takes advantage because it is there. Not really attached to the outcome. That had never occurred to me. There are personality types that have little passion but more look to opportunities and then try to take advantage and in so do doing take even the guidelines and twist to their advantage. A friend and I were discussing what makes some people so disciplined and articulate in everything they do and others chasing but having never really acquired the passion and the love of accomplishment as opposed to just beating someone and taking the money as the equalizer. Passion.

07/05/2008 02:05 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Andy, What are referring to is the Pareto Principle. And I suppose you are very right about that. There is a lot of things that go into the the 80/20 rule and I would guess these core competencies manifest themselves in such a way as to bring about that result. Very Observant !

07/05/2008 02:09 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Michael-I have read a number of your posts Michael and If I have ever met a true academic, it is you. Your writing , your choice of words gives you away as an appraiser with a destiny for much greater things. I actually could see you in the political world, though there are not many true academics there. The pay sucks as well but the perks are amazing,lol. But I could also see you as a research institute director or even in the medical field administration. I applaud your comments as it is quite apparent that you have skill sets way beyond your profession and seizing the academics will solidify them and perhaps point a direction that would be totally satisfying and fulfilling for your life.

07/05/2008 02:18 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi William,

Terrific Post, I printed this post for my agents.  The core competence is well defined and to explain that to customers and clients is an important reminder.  Thanks.

All the best!

07/05/2008 02:27 PM by Kevin O'Shea, White Plains, NY Real Estate (Homes of Westchester, Inc.)


Hi Carol, There was no intended ranking to these, for the most part these cc's all fit together as a pattern and each support the other. Sort of making it one CC if you will. If I had to chose one word perhaps it be,  Professional. Thank you for your wonderful comments and please know that they are graciously appreciated.

07/05/2008 02:30 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Sharon, Thank You, coming from a master in our industry that set the bar,I sincerely thank you very much.

William

07/05/2008 02:33 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Kevin, Goodness, that certainly is an honor. To have something I wrote passed out as a guide for others to emulate. Who could ask for anything more. Thank You so much for that. I feel very honored.

07/05/2008 02:36 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


William - Great Post. Often we are asked what are value propositions are, and we cannot answer. I am in the works right now on finding out exactly I deliver to my clients and why they work with me.

07/05/2008 03:29 PM by Ellie Viray, Realtor (Dilbeck GMAC Real Estate)


Ellie, That is wonderful. I hope you will write a post when you finish. While you are about it, why not have your clients write instead of just telling you and then you have many more testimonials that will be greatly appreciated because they express why they work with you. You will certainly know what your core competencies are then and what a post it will be!

07/05/2008 03:36 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


William,

One thing I try to stress more than anything else is when the client becomes frustrated I let them know that as Realtors we are just like them ...consumers..and real people with the same real problems they have.

07/05/2008 04:28 PM by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (RE/MAX Premier Associates)


William, This is excellent stuff. I personally feel that being passionate about our careers forces us to aquire all of the other "competencies" that you have listed. Our passion is like the seed that our abilities grow from.

Well done William.

07/05/2008 04:46 PM by Bryant Tutas-Tutas Towne Realty, Inc


Good afternoon William,

Great job, I think this is one of your best pieces yet! No doubt your passion shines through in all you do my friend. Congratulations on your gold star as a feature, well deserved.

One of my favorite aspects of r.e. is that I continue to learn each and every day, it's never exactly the same!

07/05/2008 05:07 PM by Orange Co. Real Estate~Lynda Eisenmann, Broker-Owner, CRS,CRB,GRI,SRES, Brea, CA (Preferred Home Brokers)


William - Ihave to agree with Lynda. THis maybe your best, or certainly in the top 2-3.  So well thought outI think these competencies are really at the heart of many who are successful at what they do, in real estate and other careers as well.

07/05/2008 06:03 PM by Jeff Dowler ~ Carlsbad Real Estate (RE/MAX Associates)


Wonderful.  My core competency is without a doubt business generation.  All I need is good agents to refer to. 

Great article. 

07/05/2008 06:39 PM by Lenn Harley, Homefinders.com, MD & VA Real Estate


William, I always like reading your posts.  Thanks for another good one.  competency is so important 

07/05/2008 08:07 PM by Russ Ravary - Michigan Homes for sale - Michigan Real estate & Mortgage info (Remerica Hometown One)


I love this post.  You have inspired me to list out my own core competencies so that I can focus on my own strengths.  Thanks.

07/06/2008 12:19 AM by Brandon Weber (The Brandon Weber Group - Giannini Realty)


I enjoyed reading your post.  Quite informative and very well addressed.

07/06/2008 01:29 AM by Find a Notary Public | needAnotary (QEC Internet Services)


Hello Neal- I so agree with you and by sharing the anecdotal also helps us remain as team players working on the same goal.

Hi Bryant- thank you so much and our passion shows best when we deliver way more than we promised. I think being passionate above all else is also where our highest level of client satisfaction comes from.

Hi Lynda-Thank You! I know from our conversations and your writings, your passion for your career is totally golden. And definitely one worth emulating.

Hello Jeff- Wow! Top 2 or 3. Our careers and individual dedications to them make each of us totally unique all the while seeking the same results. There could be no doubt that those that excel in other careers also tend to differentiate themselves-also as unique because each establishes and pursues their own core individual competencies.

07/06/2008 02:09 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Lenn- how fortunate those on the receiving end of your great strength. Your acknowledgment always remains meaningful to me.

Hey Russ, thank you so much and I really appreciate your wonderful complement and hope something here will always be useful to you.

Hi Brandon- knowing our strengths really helps us to focus and actually even to brand ourselves. Than you so much and I so appreciate your gracious sentiments.

Notary- Thanks fpr dropping by.

07/06/2008 02:15 AM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


By way of illustration, I've dealt with a particular loan officer in the past----I soon realized she didn't care 1 iota about the clients I sent her but rather it was all about getting the deal done for a paycheck.  Needless to say, she doesn't get my referrals anymore.  Great post---so true!

07/06/2008 07:02 AM by Diane Bell, Hilton Head Real Estate, Bluffton (Charter 1 Real Estate, Hilton Head, Bluffton, SC)


William--Knowing yourself and what you offer to the consumer is essential in real estate. Not all agents were in the business to assist the consumer as a driving factor. In a tougher market, those agents do not survive. Your list of core competencies is wonderful!

07/06/2008 11:15 AM by Teri Eckholm, Realtor® Anoka County MN (Keller Williams Premier Realty)


Hi Diane, It is interesting that so many in our industry actually do not have the passion for it but have seen it as an income stream , none the less. Markets change and that changes as well. I am sure it is true in lots of industries when people are more inclined to keep pace with the market more than set the bar for how to answer the challenges. Thanks for dropping by and sharing your clear commitment to the industry and your passion for excellence in it.

07/06/2008 01:19 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Hi Teri, as always I so appreciate your support and your commitment to bettering the fundamental aspects of our industry. As I had mentioned to another comment made, there has always been the opportunity seekers and I guess that would be natural. Real Estate has for the most part been an entrepreneurial business. Business models of the future may necessitate that that changes. One's passions should be how one earns their living, but realistically in real estate at least, most are not compensated  for it but are compensated more for the result of matching a property with a new owner. In truth, that is the easiest part of the equation , all the other things that we bring must then necessarily  support that event. I had somewhat of an epiphany this morning and I am actually considering a new supplemental direction for my career. I guess you figured it out that things we do should cause the right event to take place, not necessarily the one that creates compensation for the event happening. Some events don't contribute to the compensation factor at all.  I will let you know when I decide for sure if this is an epiphany or just a new thought that conflicted with an old thought, so keep watching me, LOL.

07/06/2008 01:28 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


Like an earlier comment, I too have dropped certain perifery professionals because they did not feel the same way about clients as I do. I do not want to hear about money to be had when I am in the middle of a contract. I only care about the positive outcome for my clients. The money follows. If an inspector or mortgage broker and I are not on the same page regarding this concept, I get upset and I forget their number. This is my passion and my clients feel it! Great writing again, William. 

07/06/2008 09:05 PM by Akron Ohio Homes for Sale. David M. Childress (Realty One Real Living)


Hi David, Thank you so much. I always appreciate you coming by and being so supportive.

07/06/2008 11:21 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


I have really enjoyed reading your blog.   I am relatively new to AR and have noticed you have received a lot of points and have achieved a remarkable high ranking. Congratulations!   May I ask if you have had success in turning your high ranking into business?   I am curious if it has been a profitable venture personally as well as financially.   Thanks for sharing and best of luck in your business.

07/10/2008 02:19 AM by James Wexler, Associate Broker~Coldwell Banker (Coldwell Banker)


Hello James, Thank you for very nice comments. Like anything one believes is worthwhile, it takes time and effort and the payoff is not always immediate. Rather than making the statement that blogging has been a profitable venture, let me say that I have seen clear evidence that if I continue on the path that I am on, my blogging and SEO efforts would pay off in the form of new business that I would otherwise not have gained. Being a work in progress, the points are a reflection of effort put in , the dedication, the relationships gained and the increased learning about things I never would have imagined that I would learn. I hope this answer would be seen as the more honest and qualified answer my peers would expect from me and not the quick and easy, "act as if you have made it" answer I received from some others when I asked similar questions. I would further say that I have been somewhat pleased with the progress so far but expect that as my efforts and finesse increase with more precision, I fully expect to find my definition of success at the end of this trail.

07/10/2008 12:54 PM by San Diego Real Estate Voice authored by William Johnson GRI CRS e-PRO (RE/MAX Associates)


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Real Estate blogs Disclaimer: The information contained in any post written by William Johnson is deemed reliable but is not guaranteed and the opinions expressed in these are writings are my own. I disclaim any liability for any damages or loses direct or indirect that may result from use of, or reliance upon any information contained in this blog or for the accuracy of comments or opinions expressed by others. You are advised not to rely any information contained herein without your  own verification of the information.