Tuesday, April 4, 2017

What value do you bring to a transaction? Don't become a commodity.

Are You At Risk Of Becoming A Commodity REALTOR?

The one thing you see at popular restaurants on a Friday and Saturday Evenings is a line out the door right? And even though you know it will be a long wait just to get seated you still go there anyway? The reason why you go there has to do with one or all of just a very few things… Good Service, Good Product, or Good Atmosphere.

These “WHY's” are something you can and should replicate in your real estate business…

A restaurant has to be good at a few things which all restaurants need to survive…Good Food and a Good Atmosphere. But often times those two are simply not enough to grow the line out the door. There are plenty of places I have thought had great food over the years which are no longer in business…This is where the “WHY” comes into play.

What are your “WHY’s”? Why should someone use you as their REALTOR? If you don’t know why…then how will they know why? One of your “WHY’s” should be the unexpected extras you give your clients… Your negotiation skills, your market knowledge, and contract expertise is expected... (and sometimes demanded by your clients). "Unexpected extras" go well beyond what is required to do a good job for your clients. You want to give exemplary service every time.

Working by Referral is a systemized approach to doing the unexpected extras every day! Sure you still have to have the skill sets other REALTORS possess… but you have to go beyond what everyone else does… go past being a commodity....and to be honest it’s not really that far of a journey.

In Major League Baseball (according to a study done by SCORECASTING) the difference between a .299 batting average and a .300 batting average can mean a $130,000 difference in yearly salary… that's just 1 extra hit per 1000 “at bats”. Imagine building a business plan in your real estate business to just do one extra thing for your clients which few others (or no others) are willing to do? Where might it take your business...and your income? You will never know until you try it. Once you become a commodity...( doing exactly what all your competitors do)... it becomes all about who will do the job for the least amount... trust me you don't want to be in that group!

Secondarily… Building your Book of Business (B.O.B.) will help you form relationships which allow you to know intimate details about your clients most others don’t. The more you know about a person… the more likely you are to know what will make them happy…and what will make them feel comfortable using you to buy or sell real estate and referring you to others. The more an individual knows…likes…and trusts you… the more likely they will think your “WHY’s” are better than any other REALTOR!

Make a list of the things you feel are your value propositions... (Your WHY’s)... and use them when you first meet a prospective client to discuss their goals for buying or selling. These are your unexpected extras. This one technique could help you to create a line out the door to your real estate business!

Have you prospected for new business today?

Eddie Brown ©2017