There are several ways to buy or sell a home. In today’s environment, iBuyers and discount brokers are all vying for the attention of buyers and sellers. Many real estate brokers and agents feel significant pressure to compete with these discount options by offering their services at increasingly lower prices. This puts financial pressure on brokers and agents and decreases their ability to provide the highest quality service. There are better ways to not only compete, but also dominate, in a market that is heavily trafficked by iBuyers and discounters.
Here’s what you need to do to gain competitive advantage without lowering your costs.
Differentiate yourself with your value proposition
The key to competing with discounters and iBuyers is to define your value proposition. What do you suggest that is different? What improves your service? More importantly, how will the consumer benefit from using your services?
If you can clearly describe the benefits, you will attract customers who appreciate 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 the best possible outcome.
Communicate this value
Many people are unaware of the value they will receive from working with a top quality real estate agent. This may be because they are new to real estate, have worked with lackluster agents in the past, or see real estate agency services as a commodity.
After you’ve clearly defined the value you bring and the benefits to the consumer, it’s time to get the word out. Practice scripts and dialogues to effectively communicate the benefits. How much are your buyers paying above or below asking price, and how does that compare to the market? How much more are your ads selling? How much faster do your ads sell? Once you’ve compiled this data, compare it to the discounters’ data. Using data points like these is very efficient. If, for example, your marketing advertises that you are selling homes for $ 9,700 more than the average agent in your market, those looking for a higher sale price will be attracted to your ad.
One of the best tools for competing with discounters is a better personal connection. While there have been fewer and fewer options for connecting lately, as the world continues to open up, that will change and you will find opportunities to connect with people who are eager to connect with. you.
If you need help scripting conversations that build relationships, visit https://bit.ly/WSS-scripts and download several of our biggest winners. There is no cost or obligation.
Over the next two weeks, I challenge you to clearly define your value and the benefits you offer to the consumer, communicate those benefits in your marketing, and connect more in depth with a minimum of six people.
Verl Workman is the Founder and CEO of Workman Success Systems (385-282-7112), an international conferencing, consulting and coaching company specializing in performance coaching and building successful agents and teams. For more information visit www.WorkmanSuccess.com.