How Realtors & Brokers Need To Pivot To Succeed After COVID-19 If you are a real estate agent or broker, you are probably wondering and speculating what the long term effects of the pandemic will be on the industry and your business. I get that this is a truly scary time. However, I am on a mission to help each and every one of you not only understand what is to come, but prepare for it, and adopt the mindset you will need to come out on top as the long term effects of the crisis take hold. In today’s post, we will examine:How buying behavior is already changing in the industryWhy the rent crisis is going to be a major catalyst for changeWhat real estate niches are going to win & which will loseHow to communicate your value to attract the majority share of your marketWhat challenges brokers will face in agent recruiting and retentionThe mindset you need to not only survive this but thrive through it If you are unwilling to stick your head in the sand and give up this article is for you! If you want to be the real estate professional that causes the largest positive impact on your community this article is for you! If you want to have a business at all in 18 months, you simply can’t afford to miss this article!The Impact Of The Rent CrisisRight now, tenants everywhere are struggling to pay their rent, have stopped paying rent, or will stop being able to pay their rent soon. As a result, the owners of those properties will become financially strained to the point where they won’t be able to afford their mortgage and/or property taxes. Guess what happens next? You guessed it; the properties will be foreclosed upon or scooped up in major buyouts by Wall Street investment firms and hedge funds that are now more interested in the property management business this time around than they are foreclosures. If the home is foreclosed upon, both the tenants and owners could wind up on the street. If the owners are unable to pay their property taxes, the funds that are normally allocated to civil services like firefighters, schools, police, and healthcare are slashed. When funding normally provided to those civil services is cut:Crime rates riseProperty values fallPeople struggle to obtain viable healthcareHomeless and unemployment rates skyrocketEducational programs disappear and test scores plummet Do you see where I am going with this? The major long-term impact of people not being able to pay their rent will have a trickle effect that will feel very reminiscent of the recession. I’m not saying all of this to scare you or for some political positioning. I simply want you to understand the headlines that are about to scare the crap out of the rest of the industry. The more you understand now what is to come in the months ahead, the more powerful of a position you will be in every step of the way. This is all about giving you the leverage to turn this time into the biggest and best opportunity of your entire real estate career.What Real Estate Niches Will Be Impacted The Most?Not every real estate niche will be impacted in the same way. Remember, a niche has nothing to do with a random neighborhood you farm but instead is identified by the demographics of your ideal clients. Common examples of real estate niches include first-time homebuyers, luxury waterfront listings, 55+ seniors looking to downsize to a condo, etc.. There are some real estate niches that are about to become cash cows. There are others that are about to be hurt hard. Here is what you can expect from the niches that will be impacted the most for better or for worse.Cities vs. SuburbsWe are already seeing people flee the cities in a mass migration to the suburbs. This push comes from the realization or perception that living in more rural and remote areas is safer when it comes to avoiding diseases like Covid-19. Furthermore, those that can no longer afford or don’t want to pay the higher cost of living in major cities like New York, Miami, and San Francisco are flocking to the burbs to save money. On another note, as many people and companies have now discovered how possible it is to work from home, virtual workers will remain more prevalent than ever before. This means it is much easier for those with high-paced jobs in the city to work safely from their home in the burbs without the stress of a long commute. On May 1st, 2020, articles from the associated press started spreading like wildfire of people mass migrating to the burbs as a result of COVID. In fact, check out this blurb from one of the many articles outlining this effect: “Ben Greenzweig is itching to move his wife and three kids South, a plan that may get accelerated due to the coronavirus pandemic. The CEO and co-founder of conference company Momentum Event Group, says he’s looking to move to either North Carolina or South Carolina from the New York City suburbs in Westchester County, for cheaper costs and bigger living space amid fears that a deep and prolonged economic slump in the state could eventually force residents to pay higher taxes. “It would be an unbelievable escape," Greenzweig, 42, says. He typically works from home which gives him flexibility. “Our children's involvement in school is the single largest tether keeping us here. If there’s a hint that school won't resume in the fall for my kids, then the biggest reasons for us staying here, which are friendships and school activities, evaporates." This perspective is quickly becoming the new norm! So what does that mean for you? Well, if you live in a major city, you should be going after the listings of people wanting to escape to safety like Ben Greenzweig and then refer them out for passive income on their new purchase. If you work in the burbs, then this is the time for you to be implementing strategic sales funnels that attract all those people flocking your way.InvestorsJust as we saw a major influx of real estate investors emerge during the last housing crisis, you are going to see a lot more activity from investors. Unfortunately, not all of it will be positive. Many landlords may need to start unloading their properties to avoid foreclosure after tenants could no longer afford to pay rent. On the flip side, those landlords that are financially able will probably try to expand their portfolios. Of course, there will also be a sea of newbie investors looking to take advantage of the situation just like last time. If you want to go after these investors, I want to caution you to think of them as first-time homebuyers. They will need a ton of education, patience, and handholding so you should only target these people if you are passionate enough about them to make them your permanent niche. Remember, not every niche is right for everyone so you should make sure it makes sense for you to target them before you begin.Foreclosures, Short Sales, REOsSadly, we are about to see a ton of new foreclosures, REOs, and short sales blanket the markets. In some areas like parts of Florida this is already happening quickly. I can tell you that the town where I live about an hour south of Tampa (one of the top 10 markets in the country) is seeing them pop up at an alarming rate. Obviously, there are going to be some agents that see this as a goldmine opportunity. However, I again want to caution you and give it serious thought before you go after these people. One thing that happened to a lot of agents that became “the go-to agent” for foreclosures and short sales last time had their businesses dry up pretty hard once the market recovered and they had to invest a fortune to rebrand themselves. Furthermore, handling these types of transactions is far more complex and time-consuming than many agents realize. In fact, The Balance reports that the average time from contract-to-close on short sales and foreclosures is 4 months! That is a lot more time and work than the 30 days you are used to. Not to mention, you will be negotiating with a bank rather than a traditional seller which requires a certain level of expertise to avoid complications and additional delays.Remember Your Role As A Problem SolverNo matter what niche you plan to target as we move forward in this new world, the one thing you need to understand to capture the majority market share is to communicate the problems you solve more than the services you sell. I go into depth about how to do this in this article, but I want you to understand is that people are not looking for something to buy but rather something that will solve their problems. For example, if you plan to target people moving from the cities you should emphasize all of the problems that moving to the burbs will solve for them and how rather than just posting local listings.Expand Your Services To Stand Out From The CompetitionSpeaking of your services, if you are going to target any of these emerging groups, you should tailor your service offerings in a way that:Makes you stand out from the competitionInstills trust in the people you are targetingCommunicates the unique value you offerShowcases your expertiseDraws a bridge between the target’s problems and what you have to offer For some of you, this may involve adding some brand new services to add more value to your clients. For example, I recently taught this Agent Mastermind webinar that explains how to not only add Residential Property Tax Appeals to your list of services but also how to:Immediately earn cash for filing themGet more referrals than ever with themUse them to make people trust and value you moreSave homeowners thousands of dollars on their taxes Plus I even give you an exclusive 70% discount off of the kit during that webinar that includes everything you need to start filing them right away! Watch the Agent Mastermind Webinar here. Everyone already knows your license helps people buy or sell a house. But they don’t understand how much work that involves so you need to spell out all of your services for them and explain why that service is so valuable to them.A Mass Migration Of Agents?Just as we are seeing the beginning stages of a mass migration of people to the burbs, we are seeing agents leave their brokers. Suddenly, the appeal of a virtual broker became very clear to people, and guess who is going to clean up as a result? EXP of course! They have just announced their transition to becoming an international brand as a result of their growth. Another common theme is that agents will be blaming their brokers for anything or everything that goes wrong in their business and this period will be no different. Although recruiting season is typically around the Holidays, I think now is when you will see even more agents starting to look for a new brokerage. Ultimately, they will choose the one that communicates to them how that brokerage is a problem solver for the agent. It goes right back to communicating value again. Therefore, if you want to attract all those migrating agents to your brokerage, you will need to make it crystal clear why you provide the most value to them. More than ever, this will mean supplying the most hyperlocal and relevant training content to agents that are struggling to navigate this challenging transition to the new world of virtual real estate. In fact, I have been flooded with requests from brokers to have me write and design a branded version of CE courses and training materials to attract agents to their brokerages as a result of all this.How Will You Evolve Your Real Estate Business?Quite frankly, everyone is in a somewhat unique situation here depending on their experience in the business, goals, location, etc.. I know it can be overwhelming and scary trying to figure out what the best moves for your business will be going forward. That is why I am offering completely FREE strategy calls to assess your individual circumstances and give you an expert, third-party strategy on the best way to proceed. Whether you have $30 or $300,000 in the bank right now I promise I have something to help you make the most of this time and come out even better on the other side.Book your FREE post-COVID strategy call with me here.
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How To Set Your Real Estate Marketing Budget If you are anything like most real estate agents, you didn’t even both to put a proper business plan in place before you started your real estate business. Odds are that means that you also don’t have an official marketing budget.How do I know that?Well, I have spent the last 4 ½ + years having the same conversation with tens of thousands of real estate agents when they call me to help fix their marketing and branding problems. In fact, I would estimate that about 10% of the agents that come to me for help have an official marketing budget.So if all these other people are running their business without a proper marketing budget, why should you? I’ll dive into the shockingly MAJOR reasons you must have one if you want people to take you seriously and I will show you what yours should be.But first, let’s get on the same page here. When I say “marketing budget” I don’t mean the maximum amount you should spend on marketing. Instead, a marketing budget should outline what percentage of your overall spending will be allocated to marketing, as well as, break down how much you will spend on various strategies.If you have ever been pitched by someone for marketing or branding services and wondered whether or not it was the right move for your business, this post is for you. It’s time to finally get serious about your business finances my friend. Why Do You Need A Real Estate Marketing Budget?Honestly, there are more reasons than I could probably name. However, the first one I want to point out is the one that has been most relevant lately: you need to be ready to strike when the iron is hot.As Covid-19 ravaged the world, real estate agents responded in one of two ways:They panicked, put their head in the sand, stopped or eliminated most of their spending, and hoped for the best. Or they recognized that the cost for obtaining market share would plummet and they upped their marketing to capture all of the buyers and sellers eager to make a move immediately.Those that chose option one lost BIG time. Those that chose option two, became overnight rockstars with more clients than they can handle.You see, every time crazy things happen in the economy like a stock market crash, a recession, or even a pandemic, new opportunities are created. Do you know how some people became mega-millionaires off the real estate market during the recession? That isn’t because they pulled back! It is because they double, tripled, or 10X their marketing budget to capture the majority of the market share at the cheapest price.Over the last couple of months I have been inundated with calls from many types of real estate companies that recognized that now is the time to go all-in on marketing but had little to no money to use for their marketing. Why? They had no marketing budget or business plan in place to act as a safety net and they missed the opportunity.However, having the ability to strike when the time is right is not the only reason you need a marketing budget in place. Here are some of the other key benefits of setting your marketing budget:Measure Your ROIIf you have a proper marketing budget in place, it will be easier for you to track what portions of your marketing plan are outperforming the rest and make adjustments accordingly. Ugly SurprisesWithout a marketing plan and corresponding budget, it is hard to know how much you should expect to spend on various products and services you will need for each campaign. For example, if you include getting a website set up you need to plan to pay for the domain and hosting, website design, original content creation, etc.. Detailing every single expense that goes into each campaign prevents sticker shock when those bills start coming in. Eliminate Waste & OverspendingMy guess is that unless you have an amazing accountant you have no idea how much money you are spending on what every year. That means you have no way to know how much of that money spent is wasted. When you have a marketing budget in place, it is easier to track every penny spent and cut out the waste.Negotiating PowerWhen you have a hard budget in place that outlines what you plan to spend on each aspect of a project it gives you more power to negotiate with real estate marketing service providers. For example, I recently had a real estate broker approach me to write the 40 post-licensing course curriculum for their brokerage franchise. In our consultation, I quoted him a price based on the outline of the work to be done. That quote was $3,000 than what had been previously allocated for the project in his marketing budget. As a result, I was able to counter offer some adjustments to the project that would allow him to stay in budget and get the course completed as soon as possible. This NEVER, NEVER, NEVER would have happened if he hadn’t had that marketing budget in place to use as leverage in negotiations. Understanding the 25% Rule Of Real Estate MarketingYour real estate marketing budget should act as a roadmap for all of your marketing efforts. However, if you are like most of my clients, you’re probably wondering what your marketing budget should even be. That is where the 25% rule comes in.The 25% rule states that you should allocate a minimum of 25% of the revenue you want to make towards your marketing efforts. For example, if you want to generate $100K per year in revenue, you should be allocating at least $25,000 per year to your marketing budget. Now, I know a ton of you just read that and said “Sarah, how the hell do you expect me to spend $25,000 on marketing when I only make $35K per year (average national salary of agents)?!?!?!?!My response to you is, you are only generating that dismal income because you don’t have a budget in place to help you do more and do it more efficiently. That whole mentality of investing in your business whenever you think you might be able to afford it is playing not to lose. Setting a production goal for your business with a detailed and budgeted plan for executing those goals is playing to win.Keep in mind, I’m not telling you to spend for the sake of it. Not all marketing is effective and most of it won’t give you the results you want. Everything should come from a point of strategy and if you need help establishing that strategy then you need to schedule a call with me. How To Allocate Your Real Estate Marketing BudgetNow that we know what a marketing budget is, how it benefits you, and how much it should be, let’s talk more about how you should allocate that marketing budget. The more detailed and deliberate you can be in writing out your budget, the harder it will work for you. As you look at all of the strategic campaigns and funnels you have to take the following categories of marketing spend in mind.ToolsSoftware, computers and tech equipment, social media scheduling tools, email marketing software, CRM, marketing analytics software, etc. ServicesContent writing, graphic design, SEO, advertising agencies, real estate photographers, videographers, website syndication, etc. Staff HoursWhether you have in-house staff handling your marketing, or hire someone like me to handle it all for you, you need to consider how much of the marketing team’s time will be needed for each project. The amount you spend on labor for each project needs to be factored into the ROI to measure performance and make strategy adjustments. Advertising FeesIf you place ads in newspapers, classifieds, social media, or search engines you need to plan for those costs. Although some of these methods have the worst marketing ROI performance in the biz, you still need to plan for them if you insist on using them. Ready To Start Running Your Real Estate Business Like A Real Business?Just because you have failed to prepare yourself up to this point does not mean you can’t get on the right track now! In fact, pat yourself on the back for taking the step to read this post and having the desire to do the right thing moving forward!I know the idea of putting a business plan and marketing budget and strategies and systems and all that big picture stuff sounds overwhelming at first. However, it really doesn’t have to be that way. I wrote The Intention Real Estate Agent’s Guided Journal to not only teach agents how all of this works but actually walk them through each process as quickly as possible with prompts. I know not every agent can afford a coach or professional like me to help them with all of this so I wrote The Intentional Real Estate Agent to make the answers you’re craving accessible at a low price less than going to the movies. However, if you would like more personalized guidance on your marketing, branding, and content strategy schedule a call with me.
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Is Your Real Estate Niche Wrong For You? If you are anything like most successful business owners, you already understand that focusing on a niche is the fastest, easiest, and most powerful way of generating real estate leads. You also know, it is the best way to give yourself a fighting chance to avoid becoming one of these statistics:Agents with a real estate niche, earn an average of $35,000 more than agents without one.3% of real estate agents make more than $35,000 per year.Approximately 90% of new real estate agents fail within the first three years.Those numbers are more than enough to give even the most aggressive agent pause for a moment. This is exactly why I have spent so much time creating content for you over the years to show you why you need a niche.However, my main concern today is that you may have chosen the wrong real estate niche!As I have been flooded with more coaching calls and requests in the last few months and I have been working with people on their copies of The Intentional Real Estate Agent, I’ve discovered a staggering number of agents that have the wrong niche.I’m sure you’re wondering “What makes a real estate niche ‘wrong’ for someone?”.Believe it or not, there are actually several factors that determine if a niche is right or wrong for you and we are going to review them today. That difference can have a major financial, emotional, mental, physical health. In fact, you might even be relatively happy with your real estate niche right now, even though it is wrong for you...which will cost you later.So, how do you know if you have the wrong real estate niche?How do you fix it if you have the wrong real estate niche?How much can you expect to make with your new real estate niche?I’m going to answer all of those questions and more in this special edition of The Best Real Estate Writer blog which includes excerpts from the Ideal Client chapter of my latest book The Intentional Real Estate Agent Guided Journal. So, if you enjoy today’s article, I know you will devour that entire book and thank me for how it transforms your career.Why Did You Choose Your Real Estate Niche?The first indication that could clue you in to the fact that your niche is wrong for you is the method you used to choose that niche. Here are some of the most common ways a real estate agent chooses their niche:Picked from a random list of nichesTheir mentor had the same nicheTheir broker or team leader chose the nicheTheir current/past client base tended to be one niche or anotherSomeone else told them it was a money-makerThese are not the right way to choose your niche if you want to reach your happiness and earning potential.To better highlight the impact that having the incorrect real estate niche can have on you as a real estate agent, I am going to share a story of a client I have worked with to assess her niche and help her choose one that was better fitted for. Note: I have changed her name to protect her privacy.Mary Goes Back To School...Mary got her real estate license in Southern California after retiring from teaching. She is convinced to pursue luxury real estate because she wants the highest possible commissions for the fewest number of deals per year and thinks that is the way to do it. She discovers that the cost of marketing luxury properties is not only much higher but the clients treat her like an employee which is a huge disappointment for Mary because she was excited to be her own boss. Every time a deal falls through Mary is crushed and financially stressed but when they work, they bring her relief she can hang on to keep working for the next deal.After listening to Mary for a bit and asking some key questions, I realized that Mary wasn’t in the right niche because it was causing her additional financial stress, brought down her morale because of the way clients treated her, and ultimately she was only closing about two deals per year as a result. I switched Mary to begin working with move-up homebuyers working in education and the transformation was swift. Soon, Mary found herself with more referrals from past connections in the education space, facing less objections, closing more deals that moved smoothly through escrow, and generally enjoying her job as a real estate agent more. Plus, she got to rely on her biggest strengths of patience and education by teaching people how to navigate the process of buying and selling simultaneously for the first time.In short, you need to answer this question about your real estate niche as it pertains about the present and the futureo you enjoy working with that group of people so much that you wish you could serve that sector every single day until the day you die and even then you would wish to live just one more day to work with the people of that niche?If not, you have the wrong real estate niche.How Do You Feel About Your Real Estate Niche?If you answered “no” to the question above, but you still feel like you enjoy your niche, you have to ask yourself why you like it so much. Is it just that it happens to be making you money right now?Remember, every day that you are in the wrong real estate niche you lose out on working with more of your dream clients, you limit your true earning potential, and you create a deeper sense of brand confusion in your marketplace.The other issue happens when someone answers “yes” to that tough question, but is in a real estate niche that has a low ceiling for income. For example, if you love working with first-time buyers in your market but most spend an average of $100,000 on a home and you only to manage to pick up ten new clients a year, you will bring in around $30,000.You really have to have a hard and truthful look at both sides of the real estate niche coin to ensure that you are setting yourself up to achieve the goals you set for your real estate career.Choosing A New Longterm Real Estate NicheIf you are still with me at this point, it is probably because you are realizing you may have chosen the wrong real estate niche for yourself. The good news is, you’re here now correcting the problem for good.As promised, I am now going to share an excerpt from The Intentional Real Estate Agent Guided Journal to help you get back on the right track with your niche. Reverse-Engineer Yourself One of the biggest reasons that I chose to be a real estate copywriter (rather than any other industry) is that I wanted to help as many agents as possible realize that they can have complete power in this business. In other words, you have the right as a real estate business owner to work with people that you actually enjoy working with. When I am coaching my clients to help them find their real estate niche, I always encourage them to start by thinking about themselves first. That is why we have already taken the time to examine yourself on a conscious level. I hope that as you were going through the previous prompts, you thought about things like your personality, the people you surround yourself with in your personal life, and your personal preferences. For example, if you are easy-going and prefer to be around people that are also easy-going it would not make any sense for you to target the luxury market because those clients are typically very high-maintenance and demanding.Or let’s say you were a teacher in your past career and know you have a lot of patience. You would be well-paired with first-time homebuyers because they need a lot of handholding and respond best to patient agents that enjoy teaching them throughout the process. Now, if you are not a brand new agent but early in your career and have yet to choose a true niche, this next piece of advice is especially important!Forget The PastThe biggest mistake that most real estate agents make when choosing their real estate niche is to look back at the people that have hired them in the past.Remember, this is about choosing who you want to work with, not who chose to hire you in the past.It is very important that you are critically careful when you design your ideal client or real estate niche that you are only thinking about the people that you would kill to work with, not anyone else.The only time that it is okay to look at your past clients is if they are in alignment with your new niche because that will help you get into their mindset and identify the pain points you will need to address to attract more people like that.Go With Your GutFor some people, narrowing your ideal client down so much can be very challenging because they are so agreeable that they enjoy working with everyone. Often in these cases, I encourage people to go with their gut to narrow it down.Let’s pretend for a minute that you MUST choose between three different people to marry. Let’s also assume that you know and enjoy spending time with all of them. However, you are being forced to choose just one of them to spend the rest of your life with. Wouldn’t you go with your gut feeling about who will offer the best possible future?If you are someone that knows how to listen to their gut and trust themselves, I encourage you to do so in this portion of your journal.Ask Yourself Why (Again)Before you decide definitively on your niche, I want to urge you to ask yourself why you are choosing that person or demographic as your ideal client.Often in real estate, agents will choose a niche purely because someone else told them it would be profitable or because they think it will be the easiest way to make money.Let me tell you right now that if money is the sole motivator for why you have chosen your niche you will end up being far less successful than if you select your niche based on passion and compatibility.Think about it, if three years from now you can’t stand the majority of your client base, you will be far less motivated to lead gen, follow-up, and deliver the best possible customer service. On the other hand, if you are in love with the majority of your clients you will leap out of bed each day energized and excited to go be the best you can be at your job. That passion will be what leads to the biggest profits.Profitable Real Estate NichesAgain, I want to reinforce the fact that you shouldn’t choose your niche purely because you think it will make you rich because if you get in it and hate the people, your motivation and productivity will tank and you will probably wind up making far less. However, here are some of the niches that my clients have chosen to generate real estate leads on demand through strategic marketing and branding:First-time buyersDownsizing seniorsMove-up buyersLuxuryWaterfrontFarm & landMilitary & veteransHealthcare workersInvestorsRelocationProperty managementBusiness ownersCommercialREO’s, Short sales, foreclosuresStill Not Sure If Your Real Estate Niche Is Right For You?Great news! I developed this short quiz to give you even better insights as to whether or not you need to choose a new niche. At the end, you will also get a personalized recommendation of where to go from here, depending on your results.Take The Real Estate Niche Quiz Now!
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How Realtors Can Finally Get Everyone To See Their Value If you are anything like most real estate agents, you feel like you spend enormous amounts of time explaining why there is value in hiring a real state agent. Everywhere you go you find people that believe that real estate agents are lazy and expect to get paid thousands of dollars for doing nothing. You and I know that couldn’t be further from the truth. The question is, how do you get them to realize how valuable you are? How do you get your sphere to think of hiring you as their real estate agent as the obvious first step when they buy or sell real estate? Just imagine how much more you could accomplish if every prospect you met believed in your value! In today’s post, I am going to reveal to you how to reframe the way you think about how you talk to people so that:You can identify more people already looking for your servicesEliminate the biggest objection of buyers and sellersCapture the trust of strangers and make them eager to work with you before they meet you If you are tired of trying to convince people to hire you and are ready to start working with people that appreciate you for all that you are worth, today’s post is for you. Make sure you pin and share this post to help the rest of the world understand the value of real estate agents.Stop Selling Your Service Instead Of The Problems You SolveAs service providers, it only comes naturally to real estate agents to constantly remind people who they are and what they do. In fact, real estate agents are told you from day one how important it is that they always remind everyone they know what it is they do for a living. However, what they do not tell you is that in order for you to convert people this way they need to understand what problems you solve more then they understand your job title. People need to understand how and why you are directly beneficial or valuable to them in order for them to be converted. Think of it this way, you would never spend thousands of dollars on medical treatment from doctors if you didn’t believe that you were sick. Before people can realize how badly they need you, they need to understand that they have a problem to be solved in the first place. It is your job as a real estate agent to not only draw out these problems but to show people how your services are the best possible solution to those problems.Stop Talking To The Wrong PeopleOne of the main reasons that real estate agents struggle to convince people of their value is that they are talking to the wrong people. If you are constantly trying to shove your problem-solving services down the throats of the people that do not have those problems you are only wasting your time and energy. Furthermore, you are taking yourself away from the people that actually do need your help problem-solving services as a real estate agent. So how do you avoid this traffic? You need to clearly define who your ideal real estate client is, what problems they have, and where their attention is held so that you can capture it for your self. Now let’s break down these three steps a bit further so that we can make sure you are no longer wasting your time talking to the wrong people. Step One: Identify Your Ideal ClientThe only way to start talking to all the right people is to identify who those “right” people are for you. Your ideal client should be the people you dream of working with more than any other type of client. Your ideal client should also be the type of people that share a set of problems that you have the abilities, talents, skills, and traits to solve. Consider every defining demographic that will give you better insights into who they are including their age, sex, income, education level, etc.. Step Two: Identify The Problems You Solve Once you know exactly who your ideal client is you need to identify the major common problems that they share. Don’t limit yourself to just thinking in terms of real estate here, but in life overall. For example, if your ideal client is first-time buyers you know that these are people that have all of the common problems that come with getting your life together. These are the people that are also tackling new marriage, starting a family, getting their career on-track, etc. Step three: Grab Their Attention At The Right TimeAt this point, you know who your ideal clients are and what common problems they share. Now you need to draw a bridge between what you bring to the table and those problems. You need to establish a clear and easy-to-understand connection to their problems and each of your services so they can see your unique value for themselves. Start Communicating Your Unique ValueIn The Intentional Real Estate Agent’s Guided Journal I spend an entire chapter helping agents like you to understand what you have to offer that is unique to the competition and how to make sure your clients understand that unique value. I talk about how you cannot begin to draw a bridge between the common problems of your ideal clients and the services you are trying to sell them without first knowing what those common problems are. In fact, the best way to help you start recognizing your unique value other than working with me directly is to use The Intentional Real Estate Agent’s Guided Journal. Therefore, let’s borrow a small section from it to get you started: Let me be the first to tell you that not all real estate agents are created equally. Although you all carry the same basic responsibilities and legal obligations, there are great differences among you as agents, just as there are among you as people. You each bring to the table different life and professional experiences, skill sets, preferences, pet peeves, strengths, weaknesses, and abilities. In this section of your journal, we will be identifying what is unique about you and how that translates into unique value for your clients. This will play a big role in your branding and niche later.The biggest and most common problems that my clients face are:The talents, skills, and strengths that I possess to solve those problems are:I am confident that I can solve my ideal clients’ problems because: Get Free Help With Your MessagingThe way that you communicate who you are, what you do, who you serve, and how or why you are valuable to those people will make or break your career in real estate. All of your messaging from your business card to your blog needs to be artfully and scientifically tailored to effectively convert people from strangers to raving fans and clients. And guess who can help you with all of that? This chick right here! In an effort to help you through this challenging stage in your real estate career, I am offering free website & messaging audits to show you what you’re doing wrong, what you’re doing right, and how you can that even better. If you are still trying to convince people of your value as a real estate agent, booking a free audit with me will identify why and correct the problem for you!
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