So You Want to Sell Real-Estate. Know Your Product

You want to sell Real-estateSo You Want to Sell Real-estate.
A seven blog series to quick start your business
Blog 4 Know Your Product…. By Rick Guthrie

So far we’ve covered; 1. Is a career in Real estate for you? 2. Your first step which is developing a book of business or a database  3. Then establishing your farm area. Now we’re going to talk about knowing your product.

If you’ve taken the DISC assessment you’ll need to refer to your profile a little bit. Some of you that are high “D” type of individuals will not be patient enough to do this next step consistently. The main reason is you like immediate results and you have a higher level of impatience. I’m sure there’s a lot of you that will argue that point. (Oh by the way for the most part a higher “D” is more argumentative.) So you will need to carve out a couple of hours every other day for the activity we’re going to talk about. Back to the DISC, the ones of you that have a higher “SC” assessment will love this activity because you are what I call my pencil sharpeners. What I mean to say is that you’re very methodical and you have a need to understand everything before you want to be face to face with a client. You will have the tendency to overdue this activity and replace lead generation time with this because you would rather know all the information first and before you will talk with someone about real-estate. So again just 2 hours every other day is my suggestion.

So as you’ve seen in the title, we’re talking about knowing your product.

When we build a unique value proposition , product knowledge or being the resident expert is so important. The first time I heard a new client say to me, “Rick you know more about my home than I do”, it made me feel pretty good and validated my hard work at becoming the area expert.

I suggest previewing at least 2 homes every other day starting with your farm area. Take detailed notes on different models and floor plans to include different elevations on the same model. Back in the day I went to new build subdivisions and got all of their floor plans and kept them in a 3 ring binder. While I was there I built relationships with their sales staff and managers that actually brought me a whole boat load of business later on. How? People that buy new builds quite often have to sell a home first. Typically the salaried new build agent doesn’t list re-sale properties.

So now that everything is virtually driven you can load and save files of floor plans of properties in your area. With that, your farm area may not have a lot of new building going on. Here’s what you do. Find out who the primary builders were and seek out the information on those models. You can always find out information on discontinued models if you go deep enough. By the way there’s that one on-site new build manager that has been with the builder for decades. This is your best resource.

Pre-viewing real-sales is equally important. You want to know the activity in your subdivision. Keeping track of what’s on the market and for how long is so important and adds to your unique value proposition. Grabbing that info off of the MLS is O.K. but seeing the inside of the home first hand is better. I always loved to say, “Yeah I’ve been in that house” when using it as a comparable in my listing presentation.

Now with buyers, previewing properties on their behalf is a huge value proposition. Typically buyers have limited time. Knowing what’s on the market and previewing that ahead of time is huge. “Mr. and Mrs. Buyer, based on what you’ve told me, I previewed a home last week that would be perfect for you”. “I’ll set up a private showing”.

So preview at least two every other day. Open houses are easy previews. There’s a weekend activity.

Don’t replace lead generation with this activity. There are several studies that show our brain is better wired to focus on lead generation in the morning so in my opinion preview in the afternoon.

So get out there and preview…….Blog you soon!!!!