You Don't Sell Real Estate. You Sell You.

That's why the latest industry changes are an opportunity, not problem

This one’s quick, to the point: Because too many people are stuck for no reason. If you’re approaching the latest industry changes like an appendectomy, don’t be surprised if customers run away.

There is a better way.

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Here’s a little suggestion…

I’ve been listening to a lot of industry podcasts lately, filled with advice on how to “explain the changes” in the real estate industry to consumers. On one hand, I’m thrilled to see good advice flowing, especially since the best professionals have been preparing for months (years!). Our industry is very sharing and caring when it comes to helping raise the bar for everyone.

On the other hand, I’m pretty shocked at the crazy things people are saying. The bizarre scripts, strange dialogues, kitschy catch phrases and fears making the rounds. There are still too many attempts to “go around” and “minimize” the changes — rather than leaning into the greatest opportunity the industry and consumer will experiencing in a long time.

And just in time, too: Since it looks like we’re heading into the closest thing to a buyer-centric market in years (according to data by REALTOR.COM):

• The number of homes for sale grew 35.8% since last year, (highest since May 2020) 

• The total number of unsold homes increased by 20.9% compared with last year.

• Sellers slowed activity in August, with 0.9% fewer homes newly listed vs last year.

• The median price for sale in August decreased by 1.3% vs last year.

• The average days on market was 53 days, the slowest August in five years, and three days more than last month.

Let’s get the story right:

If you’re telling the public that the reason a consumer must sign a buyer representation agreement with you is because you have to “follow the new rules that have been mandated in the industry” — you aren’t wrong.

But you’ve missed the point.

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The Moment You've Been Waiting For

You're About to Become Amazing

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And the opportunity!

Approaching new conversations with buyers (and sellers) like a clinical or technical problem to be solved is boring; it also throws away the potential excitement and opportunity of the changes. Remember, only you have been paying attention to the nuance of the changes. First time home buyers have no frame of reference for the changes and repeat buyers haven’t done this for many years (average 7-10) so they aren’t really that invested in how it used to be.

Whatever you say about it, they’re ready to take your word.

So make it a good word!

Focus on Possibility, not Prohibitions

Here are a few thoughts to help reposition your language to unleash the maximum optimism with every new buyer customer:

1. Stop talking about the “rules” and mandates and changes to the past.

2. Start taking about the BENEFITS and goals and opportunities of today.

3. Stop making it sound like it’s being “forced” upon everyone, even (poor) you.

4. Start talking about why it’s a GREAT IDEA to have an exclusive professional representative, pay them what they deserve, and have transparency in the deal.

5. Stop talking about ripping up the contract after one day; you aren’t making it any easier for the industry to reinforce their worth by calling commitments worthless.

6. Start selling the fact that working with - and paying! - you is the best thing that will happen to them. You’re about to become friends forever!

When you stop talking about what has happened to “you” (the industry) and focus instead on what’s better than ever for the consumer, you’ll unlock the excitement that gets people ready to commit to an agreement that helps them:

• To receive the representation they deserve

• To work with the agent of their choice

• To pay the fees their professional deserves

• To negotiate their costs with full transparency

• To focus less on the “commission” and more on the CO-MISSION they are going on with someone who’s got their best interests at heart!

Nobody ever made a sale by talking about “what you could have had, before” but every rather, “the amazing value you’re about to receive, and why you’ll love it!”

Remember: You don’t sell real estate.

You sell something far more precious:

You sell YOU!

Let’s do it well.

—M

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Need some extra help? Keep reading for 11 things you can do today to strengthen your sales career👇

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First, grab our ebook filled with sales and tech tips:

E-book: 40 Ideas for Sales Growth

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Next, check out these TEN ways you can create and maintain sales momentum:

#1: Talk to Clients and Colleagues, not Comments Sections

Skip the industry news. Yes, the press is going to p!ss you off because they have to: they’re paid for clicks, not facts. So spend more time talking to clients, colleagues and customers. And stay out of the comments section, too.

What to say? One simple sentence is all you need:
“Hello, I’m calling because you matter to me, and I’m happy to answer any questions or concerns you have about the recent housing industry headlines.”

#2: Manage Your Emotions

Check in with your emotions by evaluating where you sit on the change curve:

• If you’re feeling shock and denial, then repeat to yourself: There’s no rush. It’s going to be okay; I’ve dealt with bigger challenges successfully in the past.

• If you’re still bargaining, seeking loopholes and excuses, talk to your manager. Ask them for the plan they have to help you take the first steps forward.

• When you’re done with the past, and ready to move on, join a class (not a podcast!) Get real coaching and learn new ways of performing. Find the plenty of people out there sharing best practices. Don’t expect it from a Facebook group.

• When you try the first time, have some grace. Reassure yourself with each attempt: I’m doing better than I expected and there are plenty of ways to succeed!