Do your clients view your commission as hard-earned income or a jackpot paycheck? I would be willing to bet the majority view an agent’s income as the latter. There are a lot of agents out there who are searching hard to find ways to differentiate themselves from the masses.
With the increasingly high level of real estate agents that are competing for clients, how do you plan to demonstrate your value upfront to capture the missing business?
In short, you’ll need to differentiate yourself from the competition. Use the following five points to illustrate your worth:
1. Communicate the number of transactions you have completed in the past three months.
It’s important to know that with volume comes experience. Without experience, the consumer is simply allowing a licensed real estate agent to practice on the acquisition or sale of one of their largest assets.
2. Provide testimonials from clients who have previously done business with you.
We know that people buy people rather than product. If people like you, they are more likely to trust you. If they trust you, they will likely do business with you. Show them how many people have trusted you in the past and shared their positive experience.
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3. Differentiate yourself from your competition; explain what it means to be an agent vs. a Realtor.
The barrier to entry to become a licensed real estate agent is unspeakably low. Share the Code of Ethics and Rules and Regulations that Realtors are held to and discuss how you protect your clients’ best interests above and beyond your own.
4. Give specifics about what you are going to do to help a client get into a house or sell one.
It’s no secret that consumers are unsure of what an agent does or doesn’t do when helping with a purchase or sale of a home. Be very specific and show your plan of action to get your clients exactly what they need to achieve their goals.
Demonstrate the task-based action items that can easily be measured and tracked. Dwell on the thought process and meaning behind each one. Doing this exemplifies confidence and expertise.
5. Explain how your commission works; provide details about how you get paid and what you get paid to do.
Money is only awkward to talk about if you make it awkward. We all work for money. Explain how you earn yours and what it means to your client. A seller should know exactly why you charge 6 percent, and a buyer should know exactly why and how you earn it. Be an open book.
Demonstrate your capabilities using these five tips and your clients will understand that the cheapest option isn’t always best when deciding who should handle such a large transaction.
Jay O’Brien, a Realtor with ReMax/Prestige, is helping agents and consumers alike re-think their real estate reality. Connect with Jay on Facebook.