We can all agree that the real estate industry has shifted in the last 10 years. As consumers have become more educated and tech-savvy, client’s expectations of agents has changed. But have we as agents adjusted?
We start with a question on hiring an ISA to make prospecting calls when you as an agent have not done them yourself. Greg and Matt agreed that you should double down on your strengths but disagree on how that applies to this situation.
Then we dive into the 4 types of service, pulled from David Maister’s fantastic book True Professionalism:
Pharmacist
Nurse
Brain Surgeon
Psychotherapist
It’s important to understand the differences because our industry has shifted from a sales industry to a consulting industry. This means that the willingness to do what’s best for your client - even when it’s not in your best interest - will separate you as a trusted consultant instead of a salesperson. People hate to be sold - but love to buy.
Most real estate clients are looking for a Nurse - someone who can execute a proven treatment and walk them through the process. They already know what their problem is (need to buy or sell) so they don’t need diagnosis, creativity or innovation. They want to know that you’ve solved this problem before for people just like them. It’s also the reason clients often choose agents based on price - they’re assuming the “treatment” is the same from any provider, so they want the best price. It’s our job to better communicate our value and prove that we’re a better provider in order to justify our fees.
Most agents, and most service providers in general, think of ourselves as Brain Surgeons - high level problem solvers with high technical skills. Nothing wrong with having great technical skills, but problems come up when we think of ourselves as Brain Surgeons and clients just want a great Nurse. Completely different value proposition - completely different expectations from the client. This results in communication issues and low referrals because clients expect something different than what we’re providing.
So what’s the moral of the story? Understand what YOUR ideal clients are looking for. If they aren’t looking for a Brain Surgeon, don’t sell yourself as one. Sell what your clients are looking for, and use leverage to become more profitable.
Click here to download your free PDF, Greg’s Favorite Scripts, featuring scripts for buyer and seller lead follow up, price reduction and objection handler scripts and much more.