There are several ways to buy or sell a home. In today’s environment, iBuyers and discount brokers are competing for the attention of buyers and sellers. Many brokers and real estate agents are under intense pressure to compete with these discount options, offering their services at increasingly lower prices. This places a financial burden on brokers and agents and reduces their ability to provide the highest quality service. There are better ways to not only compete but also dominate a market full of shoppers and discounters.
Here’s what you need to do to have a competitive edge without lowering your commissions.
Make yourself stand out with your value proposition
The key to competing with discounters and iBuyers is identifying your value proposition. What is special about you? What makes your service better? More importantly, how will the consumer benefit from using your services?
If you can clearly articulate the benefits, you will attract customers who value these services and are willing to pay for them. While there will always be consumers looking for the lowest possible cost, there will also be those looking for the best service and outcome.
Communicate this value
Many people do not realize how much value they will get from working with a high quality real estate agent. This could be because they are new to real estate, have worked with bad agents in the past, or see real estate agency services as a commodity.
Once you’ve clearly defined the value you provide and the benefits to the consumer, it’s time to spread the word. Practice scripting and dialogue to communicate benefits effectively. How much are your buyers paying above or below the asking price, and how does this compare to the market price? How much more are your ads selling? How much faster are your ads selling? After collecting this data, compare it with the data of discounters. Using such data points is very effective. If, for example, your marketing advertises that you are selling homes for $ 9,700 more than the average agent in your market, your ad will attract those looking for a higher selling price.
One of the best tools to compete with discounters is the best face-to-face communication. While there have been fewer options to connect lately, as the world continues to open up, that will change – and you will find opportunities to connect with people who want to connect with you.
If you need help scripting conversations that build relationships, visit https://bit.ly/WSS-scripts and download some of our biggest winners. There are no costs or obligations.
Over the next two weeks, I urge you to clearly define your value and the benefits you provide to the consumer, communicate those benefits in your marketing, and establish deeper contact with at least six people.
Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international consulting, consulting and training company that specializes in performance coaching and building successful strength agents and teams. For more information visit www.WorkmanSuccess.com…