A daring forecast was made recently by me. And I have no intention of backing down.
I predicted that within three to four years, a referral fee of 25 to 42 percent will be connected to half of all real estate transactions in the United States.
Because everyone and everything is attempting to break into our industry... to become the "go to" resource as the first step in the buying or selling process - all in the hopes of selling you a lead...
This is a lead that should have come to you first!
When you suddenly have to pay 25-42 percent on a transaction, you'll have to work significantly more to preserve your current salary.
Does this make sense?
It doesn't work like that. No way!
So, let us take action.
It's Not an Easy Fix, Be Warned
The problem is that this isn't a straightforward solution.
Those Big Tech companies vying for your money already have a lot of money.
If you let them, they'll outsmart, outspend, and outmarket you.
This conundrum necessitates you taking your business seriously and putting in the effort.
That is not to suggest I don't think you're serious or that you haven't started working on it.
There are a few. There are a few that aren't.
Because they constructed their moat and fortified their castle by doing the proper things, the strong will emerge triumphant from this conflict.
In my opinion, there are three major steps you must follow.
Step 1: Develop A Strong Personal Brand To Build Trust
What kind of people would you like to collaborate with?
You know, like, and trust these individuals. Right?
Now consider this: Is your present marketing allowing people to get to know, like, and trust you?
If not, now is the moment to start your own business.
Hire a professional marketer or an agency to perform it for you if you don't have the imagination or inclination to do it yourself.
Even in your local area, you can't compete with Zillow and Redfin if you don't have a great brand. That implies you'll have to get used to paying referral fees and working more to earn the same amount of money.
Step 2: Educate And Inform Consumers In A Proactive Manner
Once you've built a brand identity, offering customers in your market with relevant, valuable real estate information is one of the easiest ways to enhance it.
You must position yourself as the ultimate source of real estate information in your marketplace, whether through direct mail, email/BombBomb campaigns, or social media. (Think "video first" to speed things up.)
Unsolicited CMA should be sent to them.
Inform them with local sales, market trends, and helpful hints. Don't be scared to have a little fun to add some individuality to your presentation.
Make yourself the knowledge broker for these people so that when the time comes, you'll be the first person they think of.
Step 3: Make Contact And Stay Informed
To some extent, branding and education will shield you against Big Tech, but encircling your business with a protective moat...
You must pick up the phone and dial!
Simply said, you can't rely on the customer to make the decision unless you enjoy seeing competitors' yard signs strewn across the communities you (ostensibly) service.
Make contact with them, develop a relationship with them, and get to know them. They're the blood that keeps you alive. There's no need to be pushy. You can be yourself, reach out, inquire about their well-being, and see if they have any real estate inquiries before moving on.
However, you must put out an effort.
If you're having trouble getting over this, try these ten recommendations from a recent blog.