by Hoss Pratt
Do you know the most misunderstood and incorrectly answered question ever asked of a real estate agent?
“Why should I (your prospects) do business with you rather than another agent?”
If the first thing that comes to your mind is the laundry list of designations and initials behind your name, your eons of experience and impressive sold volume, or a clever tagline—“Everything I touch, turns to Sold” you probably think you have this question in the bag.
You would be wrong.
Consumers don’t care about all this talk about YOU! Whether you are a fan of country music or not, you should understand that every one of your prospects subscribes to Toby Keith’s line of thinking when it comes to buying or selling a home—“Let’s talk about ME!” They are concerned with their fears, their time, and their money. Period.
Here are three things you should be doing as an agent to alleviate your prospect’s fears, develop a loyal client base that is eager to do business with you, and continually generate referrals.
Offer a Performance Guarantee—An advertisement that reads, “I’ll sell your home in 29 days or I’ll sell it for FREE…100% Guaranteed!” is a lot more compelling than “If you or someone you know is looking to buy, sell, or invest in real estate, I can help.” This is sure-fire way to get your phone to ring off the hook with sellers who are motivated to sell. Let’s face it; more leads mean more listings, which in turn means more closings.
Of course, as with any type of guarantee, there will necessarily be some restrictions that the seller must abide by, such as not overpricing the listing.
Take Away the Risk—The number of people who balk at signing a binding agreement to work with an agent is staggering. How can they be sure that you will look out for their best interests, communicate with them, or do what you say you will do? Make yourself irresistible to your prospects by providing them with the security of knowing that they can cancel the agreement if they aren’t satisfied.
Simply knowing the option exists doesn’t increase the odds that the client will take advantage of it, but it will greatly increase the number of prospects you convert into clients.
Provide a Communication Guarantee—The number one complaint consumers report about real estate agents is a lack of communication! Fortunately, this is actually one of the easiest complaints to fix. Simply provide your client with a schedule for communication such as, “I will call you every Tuesday to discuss the good, the bad, and the ugly.” Then make it part of your weekly calendar. This is a great tool because it provides the accountability to maintain communication regardless of the level of activity on the home and it makes it easier to discuss any issues you may have to address like price changes or staging needs.
Implement these tools into your business and you will be able to answer with confidence why you are the only agent your prospect would ever want to work with.
When you understand what the consumer fears and wants you have the power to offer the precise solution they need and distinguish yourself as not only an expert in your field, but also as an advocate for your client and others like them. This is what will set you apart in the hearts and minds of the public and will build a strong foundation for your continued growth and success through repeat business and referrals.
If you have used these or other types of performance guarantees in your business, please leave a comment below and let me know how they worked for you.
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