Latest Articles

Brokerage, Technology, Industry, Education, Misc

November 13, 2018

Giving Consumers What They Want

Speed, Convenience, Choice, it's what consumers today want.

The Me Too Business

The real estate professionals and companies that survive the major changes taking place in this industry are those that can quantify what they do and how they earn their money. You must be able to differentiate yourself from the competition.
Real Estate is a "Me Too" business, and what you do to list and sell real estate is probably the same as what all other REALTORS® across the country do.

So, if you want to avoid declining commissions in a "Me Too" business, you must be able to differentiate in another way. In a "Me Too" business, you cannot differentiate based on the "Big Things" because everyone does the big things! So you must do many little things your competition does not do. We stress, "It's the little things that make a difference."

Look at what consumers, not just real estate consumers, but all consumers are looking for today as they shop for products and services. These items are referred to as "Consumer Demands." When you look at what you do, how you do it, and how you market it, bring as many of these driving forces to bear as possible:
Speed: Think of fast food and 24 films developing. The quicker you can take care of the administrative aspects of a purchase or sale, the more valuable you are.
Convenience: Think of 7-Eleven stores. Also, remember that people will often pay a premium for convenience. What do you do for the convenience and comfort of your clients?
Choice: The more alternatives initially, the more consumers like it, but then they narrow it down. Don't we all enjoy choice, from ice cream at 31 Flavors to coffee at Starbucks? What can you do to give your client more alternatives?
Value-Added: People like to get MORE than they pay for, this is value added. Real estate professionals provide value-added services every day, but few take the time to re-enforce it to their clients. Have you ever cleaned or painted a house for a client after a sale? Or have you helped a client move something heavy? These are extras that weren't in the listing agreement, but you did it anyway? That's "Value Added."
Discounts: If it is convenient enough, you will use a coupon. Lots of people look for discounts in everything they do. Perhaps you can offer discounts, but you must be aware that for many, this is a "driving force" so play to your strengths in your marketing. Discounting is a legitimate way to compete, and so if you do not want to compete by discounting, you must offer consumers something else of value.
Quality: Are you willing to pay more for quality? Many people are. What does quality mean in the real estate business? Maybe from a buyer's perspective, it would be buying the home for less and from the seller's perspective, selling the house for more.
Service: Think of Nordstrom's which prides itself on its service. Most REALTORS® say they provide service without defining it.
Information: This is the age of information! Consumers won't buy a toaster or a microwave without first going to Google or Yelp, let alone a piece of real estate. Make it quick (speed) and convenient for your clients to access to lots of (choice) information. Information can become knowledge and knowledge rightly applied is a differentiator.

Deliver the above at every available opportunity and your clients will not only love you, but they will also send you more business.

Recent Posts

December 31, 2018

Virtual Office Websites

December 14, 2018

Open House Strategies

December 11, 2018

Seven Sales Tips

November 27, 2018

RealTown® Cadre

November 24, 2018

Adventures in Selling

November 24, 2018

Just One Thing

November 22, 2018

Assemblage VS Plottage

November 22, 2018

Breaking Down Obstacles

November 21, 2018

Covenants VS Conditions

November 21, 2018

Using the Right Word

November 20, 2018

Deposit VS Down Payment

November 19, 2018

What is a Foreclosure?

November 16, 2018

What's an Escrow?

November 16, 2018

Easement vs. License

November 15, 2018

Shopping on Shop

November 14, 2018

Ethics and Offers

November 14, 2018

Accentuate the Positive

November 14, 2018

What is Leadership?

November 8, 2018

A Message to Garcia

November 8, 2018

Who Owns Your Domain?

November 05, 2018

Lead Generation

November 2, 2018

More on Syndication

November 1, 2018


November 1, 2018

How to Hold Title

October 30, 2018

Estate Planning

October 30, 2018

On Change

October 24, 2018

Connect the Dots

October 20, 2018

Peak Performers

October 11, 2018

Shhh, It's a Secret

October 11, 2018

Hooking Buyer Emotion

October 10, 2018

The Power of Staging

September 30, 2018

Real Estate is the Key

September 29, 2018

Lead Yourself

September 26, 2018

Buy Real Estate Now

September 12, 2018

TBT - Agency Disclosure

September 11, 2018

Successful REALTORS®

September 11, 2018

Buyer Representation

Next Videos

Related Post

Brokerage, Industry, Education

Grandparents Raising Grandchildren, A Message from the IRS

January 31, 2019


The MLS of the Future - MLS 5.0

January 29, 2019


You Have Heard it Before, Not Having a Plan is Planning to Fail.

January 23, 2019


Is There a Blog in Your Future?

January 18, 2019


Planning for the Future

January 12, 2019