If you feel that life out in the field is comparable to a sunset feeding frenzy on the Serengeti, you’re not alone.
Real estate is notoriously competitive and if you don’t stay on your toes, maintaining enough momentum to get in front of the pack is about as likely as a crew of feasting hyenas spitting out their prey to go buy a four-bedroom, double garage in the suburbs off you.
It’s just not going to happen.
What is interesting about competition, is that it needn’t be looked at as an annoying obstacle to success. Smart agents know that to get ahead they need to look to the competition around them.
Understand, learn and leverage it. Not only will you build on your personal strengths to improve your business but you’ll position yourself as an agent that others look up to.
Survey the Scene
Take time to understand your competitors and the marketplace. What audiences are being overlooked in your area? What strengths do power agents in your locale exemplify that set them apart from the rest?
Be vigilant. If you’re constantly boundary scanning, you’ll be amazed at the little tips and tricks you pick up that others won’t notice. Get out there, get networking and let your competition train you in what works and what doesn’t.
It’s Not Just Your Properties that Have a USP
Every single one of us has a unique selling point. Perhaps it’s your time-management super powers, knowledge of great property design or plain old selling prowess. We’ve all got something that makes us stand out from the crowd.
To determine your USP ask yourself questions like:
- Why would a potential client choose me over another agent?
- What can I add to my service to help me stand out?
- Are there weaknesses in my local market that I can take advantage of?
Make sure that your USP aligns with the client pain points you uncovered whilst boundary scanning and you’ll have a leg up on your competition.
Be the One to Stay in Touch
Your competitors are always on the hunt for new prospects. Do you think they care whether or not you’ve worked with these clients before? Don’t be the fool who loses repeat business because you didn’t bother keeping in touch. Use the ease of social media to reach out and engage with past customers, even if they’ve left you for another agent.
Show them some love and you’ll be front of mind when it comes time to make their next transaction.
Don’t Let Trends Pass You By
Don’t be the last to know what’s hot or not in real estate.
Utilise your network of competitors by following them on social media. You’ll see which conferences, expos and events they are attending, as well as trending topics, tips and tricks.
Have a bit of fun with this.
Create your own content and share it with your network. This could be a video reviewing a conference, an anecdote from a recent transaction or a blog about dressing houses for optimal impact. The options are endless and a great way to position yourself as a leader in the field.
Do Unto Others..
Yes, real estate is the highly competitive feeding frenzy that our opening metaphor described. This does not warrant losing sight of your moral compass. Playing dirty will always come back to bite you in the end. Make highly ethical business practice part of your USP and never, ever bad mouth a competitor. If you believe that you’re not the right agent for a job, recommend someone you think will serve them better.
At the end of the day, your reputation as a trustworthy and reliable professional is going to be your greatest asset and no competition, no matter how strong, can take that away from you.
ActivePipe gives you an edge on your competition by nurturing your database with emails that send the right message, to the right people, at the right time. Want to know more? Get in touch here to organise a chat