Access Coastal Realty Reinvents Industry Standards
By Ofelia Saenz, Signal Tribune staff writer
Being the new kid on the block is never easy, but when Shelley Hanks started Access Coastal Realty and Hanks Mortgage two years ago, her plan was to attract the attention of clients by offering specialized personal service at competitive pricing.
Access Coastal Realty is a full-service discount brokerage company. "The biggest difference between me and a big company is my attitude about commissions," says Hanks. "What my company does is, I'm the broker and I split everything fifty/fifty, but I do it with my clients."
Hanks' approach is innovative. Although home prices have soared, commission percentages charged by full-service realtors have remained largely the same, about 5.5 percent to 6 percent. While some brokerage companies have begun to offer limited services for a flat rate or lower commission, Hanks' company is special in that they take lower commissions while still offering the full array of services.
Since Access Coastal is an independent broker, Hanks is free to adjust the commission rate as an incentive to her clients. "My clients win regardless of whether whey are buying or selling," says Hanks. "I list homes for 4 percent, keeping 1.5 percent and giving 2.5 percent to the agent bringing me the qualified buyer. If I represent the buyer, they get a 1 percent rebate... On the mortgage side, I offer clients a very reasonable fee for purchases and refinancing."
Hanks takes a blunt but honest approach to her client/realtor relationships. She even goes so far as to illustrate and disclose all her fees and commissions. Confident that her approach to commission percentage will pay off for her company through higher volume, Hanks suggests that sellers looking for a realtor conduct a thorough interview with at least three companies before deciding who to commit to.
"They should ask what type of marketing is going to be done for their home," she says. Hanks hand delivers marketing information to 1500 homes per month. "This gives me an opportunity to meet the community that I serve," says Hanks.
In addition to being a licensed broker and realtor, Hanks has an extensive background in finance. She has an MBA and says she has "a lot of training as a mortgage broker." She is also a member of the California Association of Mortgage Brokers, which gives classes on an ongoing basis.
When taking on a new client, Hanks spends an average of two hours in the initial meeting. "I thoroughly research their goals and objectives," says Hanks. "[My clients] love how I do business. They [choose] Access Coastal Realty because my fees are awesome, I'm a full-service broker [and] everything is done professionally."
For more information about Access Coastal Realty and Hanks Mortgage, contact Shelley Hanks at (562) 597-2928, or visit their website at www.accesscoastalproperties.com.
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