Your Edge
Whether you’ve been in real estate for a while or just getting started, one of the most compelling qualities you can possess when it comes to winning more business is “authority”. Sometimes we refer to it as “swagger”. You could also call it having “an edge”.
Top Producers have it in spades. It comes to some people more naturally, and experience can certainly go a long way to building your swagger, but there are other ways to do it.
When you think about your role in guiding people through one of life’s biggest decisions, they are looking to you for exactly that. Expert guidance. Advisorship. Authority.
How do you build this?
One way. Expert knowledge.
Knowledge of the product you sell - property - the systems, construction techniques, mechanicals and more.
Knowledge of the environment you sell in - the market - and not just the national headlines, the micro-niched neighborhoods, new developments, and economic drivers in your city.
Knowledge of the industry players - lending, title, go-to contractors, and suppliers.
Knowledge of the law - contracts - to the level you should as someone legally licensed to practice limited law in Colorado.
Knowledge of your track record.
In this article, let’s dig into #5 specifically. Your track record.
Thrive’s top producer Tim Aberle shares a quick video on how he delivers value (and an edge) to his clients.
The first thing you’ll notice is that Tim knows EXACTLY how much he personally delivers in value to his clients on both the buy and the sell side. Like actual 💰 IN THEIR POCKETS.
With more than 400+ lifetime transactions, he’s got some numbers to work off…but you can bet Tim had this insight from the very get-go of his career and tracks it to this day.
He also uses it. Against his competitors. To win more clients.
Whether you’ve done 400 or 4 deals, do you know the real value you bring to your clients?
This is not just your number of transactions, or volume, or 5-star reviews we’re talking about. Those do matter, but we’re talking about giving you an edge over someone who may have the same “vanity” metrics as you. We’re talking about going a level deeper into:
your $ list to sell ratios,
your $ list to buy ratios,
your average days on market for your listings.
Take a moment to run those numbers on yourself. There are a couple of scenarios as an outcome.
You’re pleasantly surprised by the results and will be excited to leverage them at your next appointment. Go do that and see how you become the authority for your clients and reap the rewards of a client for life and rolling referrals from day one!
You’re a little embarrassed by the results and need to sharpen your sword on how you serve your clients better to bring them real value.
If you’re finding yourself in the second category, or a mix of the two, think about what you need to do to improve these.
If your average DOM or % list-to-sell ratio doesn’t stack up against the market average? What skills can you improve so you can convey favorable market pricing and sales strategy to your sellers so you don’t have to keep reducing the price and losing them money and time?
If your average % list to buy ratio is way above the market? What skills can you improve to help set buyer expectations around property values and their purchasing strategy?
And if your mind is jumping straight to blaming the market conditions for your lack of an edge, reframe that thought and ask yourself “Am I a victim of the market or am I someone who beats and rises above average”.
Get an Edge
According to NAR, 60,000 Realtors left the profession since the beginning of 2023. Those who are still in it are serious and here to win. Inventory continues to be in short supply. The game is on.
Take the time to not only be an authority on your product, the market and contracts. Know your track record, improve it if needed, and use it to give your clients (and you) the edge.
Go one step further and share your “track record” metrics with an accountability partner. It will unlock magic 🔮. and your clients have an edge? Top Producers do.