The majority of you reading this are real estate agents. I’m willing to be that most of you have spent years perfecting your craft. You’ve studied contracts. You’ve practiced scripts. You’ve created your own negotiation strategies. It’s likely that you provide a high level of service and fiduciary representation. The thing that drives me crazy is in this industry you can be the best agent in the world and go bankrupt. Why do you think that is? Because the person that wins isn’t the best at their job it’s the person that is best known. A great example of this is some of the iBuyers that are showing up in many markets. One could argue they have a low level of service, little to no client representation yet they’re kicking many agent’s butt because they’re well known. They’re actively spending millions of dollars on mass marketing to sell what many would say is an inferior product and they’re winning. So many agents spend all of their time becoming the best agent and little to no time telling their story to the world. I can probably guess what you’re thinking right now…..but Jamie, they have millions of dollars to spend and I can’t compete with that. My response is to take that losing attitude and get rid of it because you can absolutely compete with them. They’re spending millions which means they need to turn a ton of properties to be profitable. You do not. You may only need a few hundred homes each year to hit your goal. For some of you reading this you may only need 30-40 homes.
So how do we compete? My suggestion is to be the best known to YOUR DATABASE. You may not have the budget to be the best known in the city but you can absolutely be known to your friends, family, and past clients. Imagine what your business would look like if you slammed your database with postcards, facebook ads, phone calls, youtube ads, direct mail letters, email newsletters, etc etc with an offer for service. I’d be willing to bet your business would explode. In summary; perhaps it’s time to stop striving to be the best real estate agent and start striving to be the best known real estate agent?