Hello and welcome! I am Ben Souchek and I wanted to share with you some more about a topic I’ve touched on in the past. The ability to offer your clients more than one solution will be a game-changer in your business. I want to talk more about this because it’s something I am incredibly passionate about as a home buyer and business owner.
Think About Your Business…
Do you have just one thing you do for people? If you are an agent, do you simply list your clients properties and leave it at that? As the market shifts, people who offer just one service to their clients are at risk of being eclipsed by all of the other opportunities out there for home sellers today.
As mentioned in previous episodes, iBuyers are coming in hot. Online companies like Zillow are beginning to buy houses. Brokerages such as Keller Willams and Coldwell Banker are getting in on the action by purchasing properties instead of just representing clients. These are big companies backed by a lot of capital. As an investor or an agent, it’s important to do things to help yourself stand out so you don’t get lost in the mix. Personally, I am transitioning my business to take advantage of opportunities out there for home sellers today. I offer many solutions and I am always asking, “what’s next?” How can I best help sellers today?
When History Repeats Itself...
We’ve seen this before. There are always going to be shifts in the market and the way business gets done. In 2008-2009 as the market was recovering, wholesalers and flippers were finding themselves stuck as business began to decline. Most people only had one way of doing business. People would obtain financing, buy a house, fix it up, and resell it to a retail customer. But as lending practices tightened up, the pool of potential buyers dried up. It became more difficult to get a loan, and people weren’t buying at the same rates they had been in years past. In turn, investors couldn’t buy from wholesalers because they were stuck with other properties, and wholesalers couldn’t close deals because they had nobody to pass them onto. It was a snowball effect that left many people out of business.
Setting Yourself Apart...
Back then, my business was still relatively young, but I still knew I needed to provide options to people. I couldn’t let myself get stuck in one way of doing business. I created deals that allowed me multiple exit strategies, ensuring that I would never get stuck with an unwanted property.
When everyone else is doing the same thing, it’s time to start thinking about doing something else. As the years passed, we wanted to market ourselves differently than the generic “we buy houses” crowd. Our business was so much more than that. We found a niche of people we were able to help, a market that wasn’t always catered to. We decided to put a lot of our focus on people who wanted to downsize. Maybe they had an empty nest or maybe they realized their house was simply too big, and something smaller would better serve their needs. We became a resource for people in this situation. We were able to offer multiple selling options, as well as assistance with things people looking to downsize may need. Throughout it all, our focus was always on how we could best help people reach their goals.
Food For Thought…
If you are an agent, it is still relatively easy for you to list a house, find a buyer, and facilitate the sale. However, do you believe that you will be able to do the exact same thing in 10, 5, or even 3 years? With the increasing amount of direct buyers and people turning to iBuyers out of convenience, it’s important to stay relevant.
Ask yourself: How can I work with sellers beyond this one way of doing business? Could a company like Home Downsizing Solutions
be an asset to me? Think about it, instead of just offering sellers a listing, you could present them with multiple options, catering to their interest. You will be compensated either way and just like that, you will have gained a satisfied client!
Remember, when everyone else is doing the same thing, it’s up to you to do something to set yourself apart! I would love to help both agent and investors find different ways to handle business. Reach out to me any time at bensouchek.com!