Welcome to episode 26 of my podcast, Real Estate Mastery - How To Create a Life That Doesn’t Require Your Presence.
Today I wanted to talk about the importance of having a unique selling proposition, or USP. Within any business, it’s important to be able to stand out from the competition. As a home buyer or real estate agent, this is especially true. The market has become cluttered with competition, with many people saying the same things.
A Unique Message
20+ years ago it was a common thing for buyers to say “we buy houses for cash,” and while it’s still commonly said, so much has changed in the industry. There are so many more people buying houses and entering the real estate world. It is reminiscent to me of the market in 2006-2007, before the market correction in 2008. There were so many self-proclaimed gurus and people out there selling information, that everyone was hoping to get rich from real estate. I knew a number of people during this time that were only doing business one way and who subsequently went bankrupt or out of business. Business was tough for those who weren’t able to adapt.
What The Gurus Are Doing
One of my mentors and friends, John Schaub once said to me, that a good indicator of market cycles, is to see what the gurus are doing. If information is flying off the shelves, and seminars are being sold out, it’s time to watch out and adjust your strategy. A lot of people showing interest in real estate means you’re going to be faced with much more competition. It’s when fewer people are showing interest, like in 2011-2012, that it’s a good time to get in there and buy.
The Power of Education
When you are able to offer your client many options and truly educate them on the pros and cons of each, it will allow you to build trust and credibility while giving you the ability to help more people with their real estate transactions. As an agent, let people know what working with a professional home buyer will mean for them. For some people, the convenience it offers makes it a better choice. By skipping inspections, appraisals, and further negotiations, many sellers will find working with a direct buyer to be a huge benefit.
Personally, I have been educated about this over the years by the sellers I have worked with. I have seen many situations first-hand in which selling off of the MLS was a better choice for my client. When someone doesn’t have to worry about making repairs, cleaning up, or having to show the property, they are able to put their time and money toward other, often more important things. When agents bring these sorts of deals to me, they are still able to collect their fee, without having to market the property or wait for months at a time to see their reward.
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