Feeling overwhelmed by recent industry news? Let's skip the negative three-letter acronym we all know (hint: it starts with an “N,” has an “A” in the middle, and ends with an “R”). Instead, let's focus on how you, as a real estate agent, can navigate these changes confidently. It's time to ask yourself:

Are your services making the world a better place?

If your answer is a resounding "YES!" then let's move forward. If not, it might be worth re-evaluating your approach. For those whose services do make a positive impact, it's time to refine your strategies because the times, they are a-changin'.

Today, we'll focus on buyers (we'll tackle sellers another time, so be sure to subscribe to our newsletter). The key to success with these consumers—who, if you haven't heard, are seriously doubting our value right now—lies in establishing a unique value proposition, understanding what they truly need, and executing a structured buyer consultation every single time.

Strategy vs. Tactics: Do You Know the Difference?

In real estate, it's crucial to understand the difference between strategy and tactics. Strategy is your overall approach, while tactics are the specific actions you take. Think of it like this: the strategy of a football game is to score more touchdowns than the opponent, and the tactics are the plays that move the ball down the field. Are you adapting your strategies to align with changing market perceptions? How do your tactics support your overarching goals?

What is Your Value Proposition?

A strong value proposition sets you apart in a competitive market. I define value proposition as the unique benefits and advantages that a realtor offers to their clients. In today's climate, buyers have been told that our costs are inflated, that we have colluded, and that we aren’t necessarily looking out for their best interests. To succeed, you need an ironclad process to ensure every buyer knows exactly who you are and how you can help them. If you're concerned about how to maintain your value amidst these changes, read this.

Highlighting the Full Value of Your Services to Buyers

Many buyers underestimate the value of working with a realtor, thinking they can manage the process on their own. They might think, "I can go online and find a house myself, what do I need an agent for?" But finding a home has never been our core value—there are apps for that. Our value is so much more. If you’d like to explore what buyers want right now and the value you represent, watch my 10-minute breakdown of the number one most important thing buyers want from you.

How Professional Are Your Buyer Consultations?

Are you even having buyer consultations? If not, start now. You can't just show up at a house, shake a buyer’s hand, hand them an MLS printout, and open the door. That is not enough (it really never was, part of why we are in this mess). Professionalism in client consultations is key, including a solid process and thorough preparation.

We use a 4-part buyer consultation. The beauty of this presentation is that it can last 5 minutes or 2 hours, depending on your clients' needs. It includes:

1. The Market: Explain what they are getting into. Is their area of interest a hot neighborhood where multiple offers are received on every listing? What is the average DOM? Average price per square foot? Providing community reports and market stats not only proves your credibility but also gives them important information to make informed decisions.

2. The Process: Many people don’t know the ins and outs of a real estate transaction. Even those who have bought a house or two benefit from a reminder of what to expect. Questions like: when is escrow usually due? What is the suggested escrow amount? What happens during the inspection period? Can they negotiate during the inspection period?

3. Discovery: Even if you know the buyers well, review their needs and what’s most important to them. Confirm their needs and wants haven’t changed. Bring a list of detailed questions, including specific preferences that you might not have previously discussed.

4. How You Work Together: This is where you seal the deal. Explain the expectations of each party, including a conversation on how much and who pays you. Sign your part of the buyer broker agreement, then hand them the pen to sign theirs.

Next time you sit down with a buyer, ask yourself: are you just selling homes, or are you making the world a better place? By fine-tuning your strategies, honing your skills, and adding professionalism and personalization, you’re not just closing deals—you’re opening doors to brighter futures.

Ready to turn every transaction into a triumph? Let’s make real estate real magic.