You want the good news or the bad news first? Let’s start with the good news: The flow of property information is ubiquitous. It’s basically everywhere, and thanks to technology and data flow, that data is ever-changing and gets more comprehensive even while you’re reading this.
Consumer preferences, search habits and property data are being warehoused, sorted, monitored and measured. These results are being utilized by big money-backed systems that can equip the consumer with far more relevant information than we’ve ever witnessed.
The good news is that an agent who has developed a deep and comprehensive knowledge of their target market will have insights, observations and local nuances that are so hyper-local that they have the opportunity to survive this wave of technology and retain their value in the marketplace. These agents will thrive through relationships that are built on trust, positive experiences and the ongoing demand for expertise.
The bad news? If you’re not invested, interested or focused on how to beat the big guys as they position their services to fit the new, ongoing consumer demands, you’re on your way out.
So, the question is: How are you providing exceptional value to not just survive, but thrive in this ever-changing marketplace?
Start with value. Your value has to be at the center of your brand, and from there, all areas of your marketing, messaging and service must be aligned. Your own core values, and those of the company or team with which you work, must be the differentiator for a successful business model.
The idea that the “good” will survive is naive. If you look at consumer demand in almost any highly successful field, even the “great” struggle when compared with the “exceptional.” Think of something as simple as a cup of coffee. Starbucks has mastered the relationship and the experience for the consumer, which has taken the act of getting a simple cup of coffee to an impressive level of “brand insistence” in the highly competitive beverage industry.
Here are a few initiatives to carefully consider:
Up the Connection
How focused are you on elevating your customer experience? Do you have a system for contacting, incubating and following up on leads? You need automation to help maintain consistent follow-up, but adding the personal touch will significantly increase the conversion results.
Use video email between automated data updates to bridge the gap from prospect to closed client. To keep your services top of mind, send short video messaging about properties you’ve previewed that may meet their needs, or live inspection of new inventory as it enters the marketplace. When you combine the use of automated responses, phone messaging, text and video, the consumer knows you’re working on their behalf, which creates value and deepens the relationship.
How knowledgeable are you about your target market? Are you truly the expert? Studies show that deep focus on a very local market segment trumps being a generalist.
Keep up with the consumer demand for quality information by becoming intensely informed on local area data, including all levels of inventory, both past and present, to earn top-level expertise. Gain visibility in specific areas with initiatives like geographic farming and home valuation reports for zip codes or large developments.
Consumers will continue to seek boots-on-the-ground expertise, so now is the best time to gear up and become exceptional.
Terri Murphy is a communication engagement specialist, author, speaker, consultant, and master coach with Workman Success. She is the author of five books, a TedTalk speaker and co-radio host on KWAMtheVoice.com. For more information, please visit TerriMurphy.com or email Terri@TerriMurphy.com.