I've got a hypothetical scenario for you:
Imagine a buyer walks in and says, "I want to buy this specific house. We've found it online and want to pay you directly. Convince me why your fee, whether it's 2%, 2.5%, 3%, or whatever you charge, is worth it. What value do you offer beyond finding the house?”
Remember, they've already found it. This is crucial for buyer representation. Let me share some ideas about this, drawn from my experience teaching the Accredited Buyer's Representation (ABR) class for NAR for a decade:
Let me guide you through building value. When working with buyers, start using this language: “You know, finding a house is surprisingly straightforward. My real work begins once we've found the house.”
It's crucial to show that the house hunt isn't the challenge; anyone can do that.
“But what I do is special. Here's what I do: First, I conduct thorough research on the house. I...
I've got a story from my trip to Boston with my wife. While our son was in summer camp, we embarked on a delightful foodie tour of Little Italy, guided by an amazing teacher turned tour guide. He shared the rich history of the area, led us through fantastic shops, and treated us to mouthwatering cuisine. Toward the end, he pulled off a brilliant move relevant to your real estate efforts.
As we basked in the afterglow of a satisfying tour, he proposed a group photo. After the snap, he asked, "Who wants a list of all the restaurants we visited today? Just give me your email, and I'll send it over."
We all gladly obliged. Upon reaching home, his email contained the promised picture and the tour's culinary highlights. Here's the genius part: he added a well-placed plea for a review, taking advantage of our post-tour excitement. We promptly provided a glowing review.
He went further, offering even more value. For...
Can you relate to this?
You meet someone at a party or an event, and you have an amazing conversation. You really connect and feel like you could become friends. But then they disappear, and you never hear from them again.
As REALTORS, we often miss the chance to expand our spheres of influence and grow our business by nurturing these relationships. Plus, we could gain some friends along the way.
But here's the secret sauce: The Ford Plus One technique.
You might be familiar with the Ford technique, which stands for Family, Occupation, Recreation, and Dreams and goals. Whenever you're talking to someone and struggling to keep the conversation flowing, think about these topics.
Ask about their family, their occupation, what they enjoy doing for fun, and their dreams and goals. But as good as that is, I want to add a plus one to this technique.
I want to find a way to add value to the conversation even after it...
Did you know that more people in America have pets than children? It's true!
20 years ago, 48% of American families had kids at home. Today, that number is down to 40%.
On the other hand, the number of Americans with pets has increased dramatically, from 56% in 1988 to 70% today.
As REALTORS, this information is valuable to us because it affects our conversations with buyers. When talking to potential buyers, we should ask if they have pets and if their pet will impact their home buying decision. Many people will engage in conversation about their pet's needs and how important they are to the family.
But what if we took it a step further and specialized in working with families that have pets or selling homes with pet-friendly features?
This could be a complete differentiator in the market, as it's not a common focus for REALTORS. Sometimes we need to think outside the box to stand out.
If you want more ideas like this that help you...
Jim would like to talk to you about your real estate business with a complimentary 30 minute coaching session.
During the call be prepared to discuss - Your goals for the next twelve months. Your time management and priority management strategies. Your willingness to change and adapt to a changing market landscape, and your biggest choke points - what's really holding you back
The road to transformation starts with small steps. Take your first towards a better real estate business today...