I've got a question for you:
How do you win against Zillow and Realtor.com in your local market?
And the reason I ask this question is because it's kind of crazy when you think about it:
Realtor.com and Zillow come to town, their algorithm takes our listings and uses our listings to get buyers to their websites. Then they take these buyers, they capture the information, then they resell the lead back to us.
It is absolutely bananas and nuts that we allowed this in the industry, but here we are. So how do we win against these behemoths, against these massive algorithms that are running 24/7/365 in our marketplaces?
I'm gonna give you the roadmap right now:
The way you win against an algorithm is you have to win mindshare.
Mindshare, not market share, but mindshare.
What that means is, in your community, when people hear the words real estate, what's the first thing they think about?
Is it Realtor.com? Is it Zillow? Or is it your name...
I have a question for you:
Who is your #1 competitor in your marketplace?
When I ask that to a live audience, I'll hear all kinds of the typical brand answers. You'll hear the brands in their marketplace: Remax, Coldwell Banker, eXp, John L. Scott, Sotheby's, etc.
And I always tell them, you're all wrong. Your #1 competitor in your market is Zillow. Zillow is coming to eat your breakfast, lunch, and dinner. And in a large degree, they already are. Now, yes, Zillow has stumbled with their flipping operation. But does that mean they're going away? No. If anything, we should be more terrified now than ever, because they're going to turn and focus their entire attention back to where they actually started out, which is selling leads to REALTORS. They are not going away.
What does this mean? When lose something to Remax or eXp, you need to ask yourself:
Did I really lose that listing to those companies? Or did somebody go on Zillow, fill...
Zillow announced recently that they've stopped buying homes!
In their press release, they said they had supply chain issues and labor shortages, which is interesting because when you look at what they actually did in Q2 and Q3, where we've had kind of the same issues going on, they actually doubled the amount of homes that they purchased during that time compared to last year.
So why would they go from twice the amount they were buying last year to stopping on October 18th?
Some people are saying that one reason might be they're seeing market changes, just like we've been talking about. They're seeing a lot more listings coming to market which creates pricing pressure and competition. So they may not be able to come in and pay these high prices and then resell it at an even higher price. Because Zillow runs a flipping operation, right?
So we're actually seeing that. I've got a lot of students and a lot of parts of the country that...
If you want a quick way to generate conversation through text with your Sphere of Influence, here's a great message that's resonating with a lot of my coaching students.
Look at your Sphere of Influence. Pull 5 or 10 people you're going to text today. And here's what you're going to say:
"Hey, have you ever looked at what your home is worth on Zillow? I'm curious as an agent, do you think it's sort of close, wrong, or right on the money?"
Watch what happens when you put this out to your Sphere of Influence.
Now, you can do it through a text or you could post it on social media. It's a great social media post and I guarantee you're going to get into a lot of conversations with people.
The end result of these conversations should be that Zillow is wrong 95% of the time.
In other words, 95% of the time, they don't get within 5% of their eventual sales price of the property. That Zillow's own data.
By the way, if you haven't looked at it,...
When's the last time you updated your bio and refreshed your overall brand?
Remember the brand that you are selling is YOU. And you need to refresh your brand at least once a year. You might hate getting your picture taken, but you need a new one every year. And I'm not just talking about a new headshot. You also need to hire a professional photographer to do an entire photo spread for you.
On top of that, you need to update your bio. The best bios that will drive sales your way include the following four things:
Your #1 goal with your bio is to create an emotional connection with people. So that when they read about you, they can easily decide that they want to work with you.
Once you've updated your bio, you have to make sure...
Have you added a walk-thru video to all of your Zillow listings?
If not watch this quick tutorial for a lesson in how to add video using the Zillow Premier App for your phone. (You don't have to be a paid zillow premier partner to use the app or enhance your listings)
To download the app click this quick link: https://premieragent.zillow.com/products/app/
By adding video to your listings on Zillow you can instantly upgrade your listings, increase the number of showings, and potentially receive more offers.
Considering a Real Estate Coach? Schedule a Discovery Call
Schedule a Discovery Call with Jim Remley Today! Implement game changing lead generation strategies, grow your sphere of influence, improve your presentation skills, build systems, tap into follow up tools, learn time management strategies, and tap into your true potential. This is your time to create the business and life you deserve!
Implement game changing lead generation strategies, grow your sphere of influence, improve your presentation skills, build systems, tap into follow up tools, learn time management strategies, and tap into your true potential.
This is your time to create the business and life you deserve!
✔ Take Control of Your Career!
✔ Manage Your Time Effectively!
✔ Attract Clients Instead of Chase Clients!
✔ Plug into Proven Systems!
✔ Tap Your True Potential!
Fresh ideas, new scripts, cool tools, and the hottest trends in the real estate industry are coming your way. Have an amazing day!