Statistics show REALTOR’S® value to consumer

Statistics give REALTORS® an edge over the competition, according to Dirk Zeller, a professional coach with Real Estate Champions in Oregon.

“It’s a wonderful opportunity to set yourself apart. Agents aren’t selling real estate, they’re selling professional services,” Zeller said. “Most aren’t studying the average price, the absorption rate, days on market. We believe it’s critical to know those statistics to convey your expertise and value. You should study and understand your local marketplace so you can counsel your buyers or sellers,” he added.

NAR’s annual Profile of Home Buyers and Sellers provides a lot of valuable information. “It’s pretty dismal that so few REALTORS® take advantage of this information. It’s a phenomenal report,” he said.

“This new generation of agents is struggling with the sales aspect of a sales-oriented business and many experienced agents may have forgotten what they did in past markets,” Zeller said. “We still need to adhere to prospecting, qualifying buyers, lead follow-up and making sales presentations.”

Generating leads requires skills. “A few years ago you could have been a ham sandwich and made money selling real estate. There wasn’t a need to build urgency or to convince people to price properly,” he said.

Today, REALTORS® need to have a multi-pronged approach to lead generation. “You can’t just rely on past referrals for clients,” Zeller said.

While lead generation has changed, the responsiveness hasn’t, Zeller said. “The Internet is a phenomenal opportunity for communication, marketing and lead generation but you still have to get in front of the prospect to sell yourself and ultimately sell a home,” he said. “The objective is to have a face-to-face meeting with your prospect so you can sell your skills. Eighty-six percent of consumers buy from the first agent they meet, so this is your biggest objective.”

Zeller added, “If you don’t ask for a personal meeting, you won’t get one. It sounds rudimentary but it’s true.

“To get that meeting, you need to show the prospective some type of value and why meeting with you is beneficial,” Zeller said. “There are a lot of positive things that happen when clients work with REALTORS®. They are more likely to pick a better lender, they’ll know the marketplace better, they’ll have help selecting the right property and they’ll have a smoother transaction.”

Zeller said REALTORS® often struggle with conveying their value.  “There are a host of benefits to consumers and REALTORS® aren’t explaining this in a powerful way. That’s what they ultimately need to sell,” he added.