RISMedia's Real Estate Magazine

AUG 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.

Issue link: http://remag.rismedia.com/i/1146817

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Page 27 of 118

RISMedia's REAL ESTATE August 2019 23 Differentiating yourself from your competition requires understanding the unique benefits you deliver— and communicating those benefits to potential clients. It sounds simple, but most real es- tate professionals struggle to identi- fy and articulate these points. There are several ways to do it. To get your ideas flowing, consider these pos- sible approaches: 1. SPECIALIZED NICHES Instead of trying to be all things to all people, consider zeroing in on a segment of the market where you can claim strong expertise. Success- ful niches can be based on a type of client or property, a location, or even specialized knowledge and skills. Many of the National Association of REALTORS®' (NAR) designations and certifications can play a strong role in supporting your ability to pro- mote a specialized niche, such as the Seniors Real Estate Specialist® (SRES®) or Accredited Buyer's Repre- sentative (ABR®) designations. 2. COMMITMENT TO EXCELLENCE (C2EX) NAR's C2EX program is another powerful way for agents and broker- ages to stand out. Brokers can also customize their C2EX endorsement badge with a company logo and set specific training paths for agents. Encourage your entire office to complete the program and use the marketing materials to tell the world that you're endorsed by the National Association of REAL- TORS®— and that you operate your business at the highest possible level of professionalism. 3. TRENDS AND TECHNOLOGY In your advertising, tell clients how you're keeping up with the latest industry developments—and how they benefit. This might include your use of e- signature software and other technol- ogies that keep their transaction on track, your work with iBuyers to offer additional selling or buying options, or your use of a team structure. 4. PERSONAL STYLE AND TALENTS Are you a gifted and patient hand-holder? A skilled negotiator? Do you have intimate knowledge of every property in your market or unique financing options for credit- challenged buyers? Each of these qualities can play a critical role in informing potential cli- ents how you're different. 5. QUANTIFIABLE RESULTS If you claim to be good at something, back it up with facts. A mortgage specialist, for example, might be able to point to a higher percentage of first-time buyer-clients that were able to secure a mortgage and purchase a home relative to oth - er first-time buyers. 6. WHAT CLIENTS SAY If you're still not sure what sets you apart, ask your clients. Or, re- flect on the feedback you've already received. Most buyers and sellers don't work with real estate professionals frequently enough to articulate how you and your brokerage compare to others. They can, however, say what they enjoyed about working with you, providing clues for crafting a unique value proposition. MAKING A STATEMENT Once you've compiled your thoughts, start writing and refining statements that convey your benefits from a cli- ent's perspective. Aim to be as clear as possible and avoid using jargon. If you're leading a brokerage, or a real estate team, make this a group exercise and explore ways to inte- grate each team member's unique benefits into a unified message. RE Marc D. Gould is senior vice president of Member De- velopment for NAR, overseeing a wide range of profes- sional development programs for REALTORS®, including the Real Estate Buyer's Agent Council (REBAC). REBAC is the world's largest association of real estate profes- sionals focusing specifically on representing the real estate buyer. With more than 30,000 active members, REBAC awards the Accredited Buyer's Representative (ABR®) designation to REALTORS® who have completed the special - ized education and documented experience in working with consumers purchasing a home. To learn more, visit REBAC.net. {REBAC Report} 6 Ways to Stand Out From the Competition by Marc D. Gould I n most markets, real estate brokerage is a crowded and competitive business, especially with the surge of new brokerage models and constantly evolving technology developments. So, what makes your brokerage different?

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