In today’s world of “For Sale by Owner” and increasingly accessible MLS listings, defining your value to potential clients is a must. While there is no doubting the value you bring to the buying and selling experience, selling that value to clients takes some perspective. We’ve outlined some angles to consider when selling the tremendous value that agents bring to the table.
Change the narrative.
You may have heard the phrase “You don’t know what you don’t know.” It might also be true that you don’t value what you don’t know. Most first-time buyers or sellers don’t know the complexity of what is involved in the entire process of a real estate transaction.
Most people shortsightedly see agents only as keepers of the MLS. And as information is more publicly accessible, agents are being undervalued.
Access to MLS isn’t the full story and it’s in the agent’s best interest to move the value proposition from just “finding the right home” to “managing the buying and selling process.”
By highlighting market experience, negotiation skills, price guidance, paperwork and compliance, in addition to listing access or marketing, you’ll give potential clients a more holistic view of your value. A value they won’t feel they can replicate with a few DIY tools.
Expose the costs of mistakes and inexperience.
An agent’s commissions are a small price to pay when you consider all of the costly mistakes that could be apart of buying or selling real estate.
Some of the costs are hard costs. For example, a price that is too low leaves money on the table, while a price too high could mean costly months on the market.
Elizabeth Weintraub, a Broker at Lyon Real Estate, points out that “Good agents are not just messengers, delivering buyers’ offers to sellers and vice versa. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.”
This doesn’t take into consideration the value your client may put on their own time that a good agent will remove from the process. Once you’ve started adding up all these potential costs for a client, your commission could be considered a small insurance policy against the risk of doing it yourself.
Your clients can say it better than you can.
One of the most powerful ways to sell the value you can bring to a buying or selling experience is by having your satisfied customers tell your potential clients directly. Take the time to collect client testimonials and also references that are willing to accept phone calls. Their testimonials will paint a picture for people in a way that is relatable and more relevant than the points you may make selling your service.
What’s easy for you isn’t for clients.
People have a tendency to downplay the value of what comes easy to them. Meanwhile it could be the very thing your potential client sees the most value in. You’ve put together contracts and priced homes dozens of times. They haven’t. You know all of the steps. They don’t. If you have worked hard on your business to make it seem effortless, it doesn’t mean you should sell it that way. In conclusion, know your worth and don’t sell yourself short.