It might seem like an unusual analogy, but the world of real estate is a little bit like shopping.
Let’s say you’re looking for a leather jacket. You find two that seem identical, but one is $100 cheaper. Your first instinct is to go for the cheaper one – after all, who doesn’t want to save money. But a bit of investigation shows the more expensive jacket has better quality leather and stitching, plus an internal pocket just for your phone. After a bit more thought you choose the more expensive jacket, because although it was $100 more, it was better value.
Most sellers see real estate agents the same way. We’re all the same, we do the same thing, so why not pick the cheaper one. Price has become some much a part of the decision to choose an agent that many agents feel the need to compete on fees and are too scared to charge more than their competitors.
BUT the fact is we are not all the same and you can CHARGE MORE and WIN MORE business just by showing the seller why you are the BETTER AGENT.
How? You need a POINT OF DIFFERENCE.
What makes us different?
Our differences are a result of our education, coaching and the environment we are surrounded by.
Some agents, such as independent and contractor agents, don’t have an office environment and the leverage of other salespeople on the team to be able to assist in getting a property sold and that’s a big point. If you are in a big office, you’ve got a lot more people working with you. It’s a benefit you can offer that not everyone else can.
The training and seminars you attend help make you a better agent. All agents have had the legislative training, but that’s not what gets the seller the best the market is prepared to pay. So you might want to list all the training courses you’ve done, or mention who you’ve been coached by and the success of that training organization.
Get to know your strengths
There are many ways you can differentiate yourself from your competitors. Here’s a few things to consider:
- the service you’re going to give
- scripts and dialogues
- low days on market
- frequent above asking price results
- staging and a good eye for décor
- regular training, over and above legislative requirements
- a team to assist you
- a large database
- an office/franchise network of agents
Start taking note of what you’re good at, what you can offer and where the results are, and record them so you can use them as your points of difference in the future.
Ask your past clients ‘what did I do really well in your transaction that I can use as a point of difference moving forward’. Then you can also use that in your marketing. For example, if you’ve got low average days on market, or often achieve a sale above the asking price, then that’s something that you can promote.
Find what you are good at and hone those skills. And don’t stop at one, you need to have four, five or even six points of different to counteract your competitors.
Make a list of the differences to show people.
Point it out
People don’t look for a real estate agent until they need to sell. So, while you may have been busy marketing, listing and selling, and promoting your successes, they haven’t been paying attention – it just hasn’t been relevant to them. Until now. When you find yourself in front of a potential client you need to find out what they do and do not know and educate them. Tell them your points of difference, show them why you are the better agent and how your points of difference are going to benefit them.
This is where it is very important to know your competitors and be able to differentiate yourself and say ‘yes, there are others, they’re not this this, this and this – but what’s in it for them?
Show sellers all you can offer and then price will not matter.
Discover more strategies that will help you become a better agent by attending my upcoming FREE half-day Real Estate Brilliance webinar. Simply click the button below and register today!