Tips for Being a Competitive Real Estate Agent

 

The internet and the immense amount of information available instantly, have radically changed the process of generating value and the perception of the need for a real estate agent. Although there’s no one secret to succeeding in real estate, here real estate coach Luther Ragsdale shares some tactics that could put you on the right path.

One of the biggest challenges nowadays is being able to differentiate and generate greater value than direct and indirect competition, be it other agents, web portals, direct sales or new real estate brokerage services.

Despite the enormous change in the competitive environment, there is still room for the development of competitive advantages, just for the simple fact that customers are still people, only now they are more informed, know the market better and tend to be more demanding when it comes to perceiving value in a service and therefore hiring and paying for it.

How to compete and differentiate yourself in today's environment?

Before differentiating yourself from the competition, you have to be able to compete, explains Georgia real estate expert Luther Ragsdale. Wide access to information and multiple sources have changed consumers’ habits, customers’ demands and the way they interact with real estate agents.

Today, a good real estate agent must be able to quickly and efficiently resolve customer inquiries in many areas involved in the real estate business. You should have good information regarding:

·         The characteristics of the property.

·         Real estate potential of the property.

·         Know well the location, points of interest and urban furniture in the area.

·         Handle good information on rental and sale prices in the market.

·         Global trends in the real estate industry locally and globally.

·         Regulatory and urban plans.

·         Economic situation of the country and global.

·         Prices and trends in the credit market.

·         Financing structures.

·         Tax framework.

·         Legal and tax situation of the property.

The above list may seem long and exhaustive, however it can grow. Handling it only allows us to enter the competition. How do we differ? Once we "qualify" to compete, we must be able to generate an increase in value over the competition, which is achieved in the way we interact with our customers.

The value generation process is based on generating trust, convenience and facilitating the decision process for customers. In our interactions we must:

·         Be polite and respectful.

·         Connect emotionally with the client.

·         Be clear, precise and consistent in our messages and in our actions.

Once a high value is generated for the customer, the propensity to buy and the chances of business success greatly increase.

How to elevate your current business and benefit in the future?

Previously, Luther Ragsdale explained how to qualify and how to differentiate yourself from the competition. Now we must be able to achieve a successful closing of the business and retain the customer. Once trust has been achieved and having generated a solid value proposition, which the client accepts, the closing of the business must be completed in a fluid and clear manner, which is why it is important to manage the client's expectations in terms of time and procedures, and anchor them conservatively to reality.