RISMedia's Real Estate Magazine

JUL 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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88 July 2019 RISMedia's REAL ESTATE Consumer preferences, search habits and property data are being warehoused, sorted, monitored and measured. These results are being utilized by big money-backed sys- tems 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 com- prehensive knowledge of their target market will have insights, observa- tions and local nuances that are so hyper-local that they have the oppor- tunity to survive this wave of technol- ogy and retain their value in the mar- ketplace. 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 invest - ed, 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 val - ues, 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 sur- vive is naive. If you look at consumer demand in almost any highly suc- cessful field, even the "great" strug- gle when compared with the "excep- tional." 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 care- fully consider: UP THE CONNECTION How focused are you on elevating your customer experience? Do you have a system for contacting, incu - bating and following up on leads? You need automation to help main- tain consistent follow-up, but adding the personal touch will significantly increase the conversion results. GET VISIBLE Use video email between automat - ed data updates to bridge the gap from prospect to closed client. To keep your services top of mind, send short video messaging about proper- ties you've previewed that may meet their needs, or live inspection of new inventory as it enters the market- place. When you combine the use of automated responses, phone mes- saging, text and video, the consumer knows you're working on their behalf, which creates value and deepens the relationship. GET SMART(ER) How knowledgeable are you about your target market? Are you truly the expert? Studies show that deep fo- cus on a very local market segment trumps being a generalist. Keep up with the consumer de- mand for quality information by be- coming intensely informed on local area data, including all levels of in- ventory, both past and present, to earn top-level expertise. Gain visibil- ity 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. RE Terri Murphy is a communication engagement special- ist, 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. Do Consumers Really Need You to Buy or Sell? by Terri Murphy Y ou 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.

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