September 1, 2012 4:11 pm
Access to the knowledge of others has always been one of the my favourite aspects of my job. After all, if you subscribe to the belief that everyone knows something that you don’t, the benefit of working with other people willing to share their knowledge and experiences is a tremendous advantage. It is, or at least, ought to be an advantage enjoyed by larger offices. If on the other hand, you find yourself working within a large group unwilling to share, you may as well be on your own. Having access only to a broker or a mentor, is kind of like being homeschooled by your mother (or father). It’s great in the beginning, but at some point it dawns on you that it is very difficult to gain knowledge other than that which your mother (or father) has already gained. My mother is a smart lady. But if I had been homeschooled by her, I would still be speaking with a German accent and living off of preserves from my own garden! The collective knowledge of a larger group is a powerful thing, and I determined early on that this was an environment I wanted to foster at our company.
As a non-competing broker, I depend upon the experiences of our salespeople to get a feel for what is happening in our marketplace. Agents, after all, are the ones with their boots on the ground, and are first to witness new trends and tendencies on the street. And so it was that I heard recently from more than one salesperson that their clients were told by their bank that house prices were going to decline by 10%, and they should govern themselves accordingly! Hmm. That’s a bold statement I thought. And not a very smart one. Not that bankers shouldn’t preach caution to their clients – absolutely they should. In fact, it’s the cautious nature of our lending system (at least relatively) that has saved us thus far from the less fortunate fate of our neighbours to the south. Predicting future home values however, is dangerous territory.
A few phone calls I placed to friends within the industry, confirmed that my opinion was widely shared, and all vowed to be sure that their teams were not in the business of predicting the future. Nor for that matter should we. We are, however, often times our clients’ most complete source of real estate information. Whatever the future holds as far as real estate values are concerned, Guelph, for a myriad of reasons, is very well positioned in relative terms as a secure location for your clients’ investment dollars. (That’s not a prediction, it’s an opinion that I am happy to back up to anyone that may ask.) It is (as I see it anyway) incumbent upon us as an industry to know why this is the case, so that we may fully inform our clients who may then make an informed decision. Partially informed clients may lead us to a sale. But a fully informed client, is a grateful life long client – and they’re the ones I want to build my business on.
Thanks for reading,
P.S.: It was not my intention to offend the folks that home school their kids. If it was a failed attempt at humour, I apologize!