The answer to: 'Why should I hire you?'
Realtor Notebook
By Teresa Boardman, Thursday, April 23, 2009.
Flickr photo by heyjohngreen.The other day I was trolling the Internet looking for ideas. I am still building some pages into my Web site and writing a value proposition. I need that magical page and those paragraphs that answer the all-important question: Why should I hire you?
I already have the virtual bus bench on my site that plainly states: "I am all that AND a bag of chips," but I don't think that is really a value proposition. The virtual bus bench started as a joke and then took on a life of its own. It became viral when one of my clients e-mailed it to 50 or 60 of her closest friends.
It really isn't enough to say I am all that AND a bag of chips. It sounds silly as I write it, but as I looked over numerous Realtor Web sites looking for inspiration I saw the same type of marketing that was worded a bit more elegantly.
The Web pages are like big ads for the real estate company: They tell how wonderful the company is. There are 10- or 15-year-old photos of agents on some of the sites. I can tell they are dated because of the hairstyles. I managed to find one agent who had a mullet-style haircut. (Maybe not exactly a mullet, but very '80s.)
Advertisements are meant to promote a product or service, but I question how well consumers relate to large corporations when they are searching for such a personal service. Realtors provide highly personalized services to meet each client's needs. Can a large corporation do that? We know that agents sell real estate, not real estate companies -- but our advertising says the opposite.
After viewing how wonderful the real estate company is I see the information about the agent. Often there are a bunch of initials after the agent's name. They are called designations. The pages do not define what a "CRS" is. It could be done simply by using the words that the initials stand for and providing the consumer with some useful information.
Most people know that "M.D." stands for medical doctor, but I am not all that sure that they know what "GRI" stands for. If they did, they might be impressed that the agent has taken that extra step.
Some of the agent pages list awards like "president's circle" or "top seller" for their office or company. That might be something that would impress prospective sellers -- most would want an agent with a track record. ...CONTINUED
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Submitted by Jon Querolo on April 23, 2009 - 12:39pm.
I am guessing you have started your own company or have joined someone who just did if there are three of you...congrats and good luck! I am amazed and thrilled with the number of hard-working Realtors who are doing the same thing and in this market. Decide what is important to the consumer and go there. Stick to your basics, your business plan and be good to your customers/clients and friends. With gozillions of Realtors all screaming the same thing it is crucial you have a value propostion that speaks to the consumer and works for you. Working Realtors have figured out that their customers don't really care where or whom they work for. It is you, the agent, who gets the job done not some corporate entity with an INC. at the end of its name. Be bold, try new things and remember always that the public has told us already what they want, don't want, like and don't like... we just have not been listening. And now is your chance! Good luck!
Submitted by Robert A. Hulme on April 23, 2009 - 1:16pm.
Websites should help to create perceived value for the visitor whether it be a buyer, seller or just a guest, but I guess it depends on who you really intend to reach.
I have found that developing a website that creates value for the buyer generally fills all the criteria needed for any end user.
Hopefully, I have created enough value and interest in my websites that I get hired.
Robert A. Hulme
Realtor, GRI, e-PRO
Prudential Utah Real Estate
Loan Officer
Mortgage Xpress
www.UtahCountyHomes.ws
www.UtahCountyRealEstate.us
Submitted by Jerzy (George) Szkup on April 23, 2009 - 1:28pm.
George Szkup
www.DestinationTucson.biz
Teresa,
Very interesting subject and vital in our line of work - one that does not get hired may have to go on extended and unintentional diet! And competition is fierce – on time I was told that in some States policeman “asks driver for a Real Estate license because not every body has drivers license”.
I work mostly with buyers - so it is different than working with sellers. Buyers are predominantly interested in locating desirable property - they very rearly start by selecting an agent. A computer literate person hardly needs an agent to do a successful search. So listing agent and open house agent have distinct advantage.
Somewhere along the way a buyer may decide that he/she needs own representation. So - how and where should I be to compete for a "position"? It is difficult to sell oneself if you have no one to sell to? (no matter how good or how bad your pitch is). Also, buyer’s friends within his/her social circle and relatives will get proprity consideration no matter what.
As for me - I am trying in two ways: a monthly Blog/news letter to illustrate that I have some knowledge of the business and a website with IDX to show prospect that choices are, practically, unlimited and having a knowledgeable guide will be easier to get to a destination.
George in Tucson (this is in Arizona!)
PS no matter how hard I try - things are not working well - very few buyers.
Also Teresa – I like your Blog.
Submitted by Matthew Hardy on April 23, 2009 - 1:45pm.
> I want to stand out as a local agent who knows her market: a specialist, not a generalist.
A prospect who has chosen their market may indeed be more attracted to a website that emphasizes detailed knowledge. An "I know this area better" statement is probably more fitting than an "I've accomplished this" statement.
Submitted by Bruce Wagg on April 23, 2009 - 5:37pm.
The longer I have been a Realtor the less I "fear" that question. What I have found is that when someone is speaking to me, either at a open house, phone, or on the internet, the confidence I portray is what answers that question for the client.
If they are asking why, you haven't set their mind at ease yet. Work on your image and knowledge and the clients will come.
P.S. It is busy in Oakland right now!
Bruce Wagg
Oakland Real Estate | Alameda Real Estate
Submitted by Michael Russer on April 23, 2009 - 6:35pm.
Real estate sales is the only industry I know of where the vast majority of participants try to be everything to everyone --and then wonder why they have trouble differentiating themselves from their competitors.
Less than 2% of active full-time Realtors specialize in a particular niche or target market. The ones that do (and have fully qualified their niche) seem to be always busy, no matter how "slow" their current local market happens to be.
Consumers will naturally pick the resource that they feel will serve them the best. Think about this the next time you need surgery done. One of the most expensive mistakes a salesperson can make is to not think about it.
Michael Russer - aka Mr. Internet
CEO, RUSSER Communications
www.OnlineDominance.com
www.mrinternetnews.com
Submitted by John Reilly on April 24, 2009 - 7:23am.
Right on spot. Consumers don't know what they don't know.
Linking to information on your designations and certifications from your signature can help. For instance, if you are an e-PRO, you can link directly to the "Why Should I Use an e-PRO" page.
And, you can tailor your signature to your target audience, such as the SRES designation.
Submitted by Carla B Reeves on April 24, 2009 - 10:18am.
Carla B. Reeves, CRS, GRI, SRES
Village Properties
You raise an excellent question, and I really like some of the responses posted. However, it would be really helpful if you as author made some helpful suggestions. Most professions develop a 'beltway' mentality...individuals tend to follow each other's ideas...sort of a trend. And, everyone is an excellent critic. How about some actual pointers of what does work from an outsider's point of view taking into consideration that each market is unique. Also, insider information from a Marketing Research company would be great. Tap into a marketing survey and report that on your blog.
In large suburban area such as in the LA area it is productive to specialize in a housing tract of 200 to 500 homes and become the expert for that development. Whereas in a small community such as Santa Barbara that approach would be very limiting as housing tracts (very few) usually have less than 100 homes. In our community net-working connections seem to work well as SB has about 2 degrees of separation.
Any suggestions from a buyer or seller's perspective?
Submitted by Bart Wilson on April 24, 2009 - 3:38pm.
REALTORS cannot be everything to everyone anymore. And the emphasis on our designations doesn't do anything special to motivate buyers anymore either.
Cheap. Free. No closing Costs. "I get a year's of free gas when I buy that house? Cool. Here's a check."
If REALTORS are going to continue to beat their chest about how many three letter acronyms we have after our names, then you also need to be prepared to respond to the listing's or buyer's "SO WHAT?" response.
Q: Why should I hire you?
A: Because I'm a lifetime resident. I REALLY know the area. I'm good with horses. I'm president of local Lions Club. (who cares about any of this? only one person. The REALTOR).
or
A: Because I'm ePRO, CRS ABR, blah blah blah
Too many listings and next time home buyers are interjecting SO WHAT, which is making many of us rethink not only what we specilize in, but how we brand ourselves.
American Real Estate is on a Fire Sale. For the next ten months, this is the only thing that matters. Because after one or two commission advances, you better get used to the fact that Broker Bob isn't going to be very receptive the third time you ask.
Didn't you respond to the last JC Penney's One Day sale? Buyers are no different. They could care less if we have any extra designations after our name. "You can sell me that house for $30,000 under market value? Fine, I'll take it. Here's a check."
Right now, buyers care about one thing. Cheap houses. Get used to it. Change is here. Next Time home buyers don't read the real estate guide. They don't open your drip marketing html newsletters anymore.
Where did your buyers go? They're on Face Book. Twitter. Now agents have to insert valuable chirps into Twitter and convince people to Follow Me on Twitter and be the FIRST to know about recent price drops, REO's, FSBO,s etc.
Change sucks. But that's the neat thing about Darwin Theory. Those who cannot adapt... those who cannot change die or simply get out of the business.
That might sound pretty hard, but these are the cold and ugly facts of live today in real estate marketing and sales.
It's a real shame there cannot be a designation like IMS. (Internet Marketing Specialist). Someone has to do this and teach rank and file REALTORS the basics of survival in the today's frenzied world of online real estate.
Bart Wilson
Founder & CMO
Voyager International
http://www.Voyager360.com
Submitted by Kristin Noll-Marsh on April 24, 2009 - 7:40pm.
I've noticed that there is usually very little information for sellers on agent web sites. So, I've been trying to build my seller areas, recently adding a flash presentation with an emphasis on what I do with internet marketing, that goes above and beyond what the average agent offers.
Anyone looking for services online is looking for WIIFM -What's In It For Me? My tag line is now "Why settle for more of the same, when you can have MORE?" and I back it up with telling them what I do superior to the typical agent. It's basically an online listing presentation - something some agents don't want to do for fear of giving up their trade secrets.
I tell my web site design clients all of the time to focus on what they can offer the visitor vs. glamour shots and bullet points of how great they are (or more accurately, WERE.) It's hard to get people to see that the internet market - and personal marketing in general - has changed. You need to differentiate yourself by showing what you can do for THEM - before they even called you.
Don't just tell them that you're all that and the bag of chips - list the superior ingredients in your bag of chips, too!
http://bestmilwaukeehomes.com
http://blog.bestmilwaukeehomes.com
Submitted by Bill Fooks on April 25, 2009 - 4:05am.
Bill Fooks
TFT realty Marketing Service
Warwick, RI http://www.fooksteam.com
After 43 years in the business full time, former manager, and still a top producer, I have never used any initials. Have found that there is a lot of education out there but very little wisdom. I wonder what everyone does with their education? Get the initials and now I can stop learning? It often times looks that way.
Submitted by Keith Labrecque on May 7, 2009 - 7:33am.
Love your columns Teresa!
I have been informed that CRS stands for "Can't Remember [Stuff]!", another indicator of increasing life experience...
As a selling investor, the Value Proposition I seek is to get my property sold ASAP (30-90 days is my typical target) at or near "market value" for that time on market.
An agent gets my attention when they demonstrate that they have a high "Sold:Listing" ratio for properties in my market area, in my price range. I also work with high integrity and expect my colleagues to do likewise.
Thats it.
Performance. Integrity. Little else matters.
Two Maples Properties
We Buy Houses... FAST!