A buyer consultation is essential to creating a foundation for a healthy relationship between buyers and agents. The primary objective of an agent is to upgrade prospects to clients, and with this, you must know how to sell your value and position what exclusivity you bring to a business connection.
Keep reading to discover crucial steps in explaining your value and agency in a buyer consultation.
It’s important to know that individuals typically make decisions based on the concept of value. Value can be expressed as the tangible benefits a customer acquires from a service minus the costs incurred.
With this, as a real estate agent, you can distinguish your agency’s value by making use of the following four areas of difference.
One of the ways to differentiate your value is through ideas and implementation — these can involve strategies, service models, and business advice on marketplace opportunities. As an example, new construction is becoming a rising sphere in real estate.
This year, with national builders having over eight hundred thousand properties under construction, investing in new construction can significantly lower payments and provide exclusive amenities. Selling these potential strategies to customers will make all the difference in increasing your value.
You must also get leads to understand your previous business outcomes, whether through customer service scores, reviews, or the percentage of your business involving repeat-and-referral. Selling your track record proves success and prior customer satisfaction.
If you have a specific niche that you’ve had much experience in, say, investment property ownership, you must demonstrate that you have comprehensive knowledge of this field in the current marketplace. This will differentiate you from other real estate agents in your area.
Being an avenue for deals involves pointing customers to lucrative opportunities for their real estate transactions. Doing this allows customers to understand that you are updated with current market trends.
Lastly, you must also be ready to provide knowledge on the current state of the market. This demands knowing how to reassure fears of severe market corrections and market crashes.
The four spheres of differentiation must be considered when explaining your value to a lead. With this, these are a few strategies you can implement to confirm that value and upsell prospects to client status.
One option you should consider is assigning dollar values to specific components of your business.
These include process knowledge, or information about the step-by-step process of real estate market analysis and property evaluation, and market knowledge, or trends about the current marketplace involving inventory, buyers, and current niches. Other than these factors, you can assess the following:
You can begin evaluating the value of your buyer services by tabulating your numerical data. Start by listing the components of your services, and then indicate the value that you can provide in each department.
Value can be in percentages or dollar figures, depending on your personal needs. Exceptional real estate worth investing in typically ranges from 7-9% in overall value.
To determine the value of your service, you can keep in mind two key concepts. First, if you offer services that no significant competitors provide, these are considered more valuable.
Alternatively, if you can prove that your services are offered in a better way than other players in the market, you can successfully convince customers that your agency is more valuable.
All in all, these concepts are important, given that career success depends on the commitment and personal belief of professional value.