Great real estate agents are worth the fees they charge because they provide greater value to their customers. In my Coaching Tip today I’ll explain how to identify and solve pain points for the client, and answer the question, How do you charge higher fees?
In the new market conditions, we’re entering now, properties aren’t going to simply sell themselves. Get focused now on the mindset that it’s what you do when the marketing stops working that makes the difference in your success. It’s more important than ever that you believe in your own value first. Then you can differentiate yourself from your competition by demonstrating that value to the customer.
Your client has hired you to know what to do if there are no bidders at the auction, to advise on whether or not to take an early offer, and know when to sell based on current market circumstances. You also need to understand how to set pricing based on bargaining strength and timing.
Understanding when to sell and when to hold is one of many important skills that a lot of agents have forgotten. Now more than ever there’s a real separation of agents, and customers will see that. It’s not just about how much you sold above reserve, it’s about whether you actually sold the home and maximized the sale price.
So how do you charge higher fees? The same way the airlines do. They can offer business class and first class fares because consumers will pay for value. It’s the agents who get on the phone and follow up, who do more face-to-face time with buyers, who do more private appointments, and in general, understand how to separate and differentiate themselves that will prove they’re worth more than the competition. The key to being a great agent is all about what you do for the client and the value they see in you.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.