We have experienced more changes in the real estate market over twenty four months than in the past twenty-four years. Many of us meet the changes. The question is – is the change fast or slow? I think the answer is obvious. . . We are in a wild ride.
Consumers demand more service from us than ever before. They want it faster, better and cheaper in all service companies. REALTORS® and lenders are no exception to this rule. We need to work together to provide better services, communication and advice to our customers and customers to compete effectively.
Let me share a formula … if you have master this formula, you will have more business than you can see. This formula is Value = Benefit – Cost. The consumer decides to purchase on the basis of this formula. You use this formula daily. Consider each item separately.
Value: This is the consumer value of a consumer by someone. That's what they look at something to be worth. Why does Mercedes feel worth more than Hyundai? They are both transport – vehicles to get from point A to point B. The difference is in the benefits and costs. The benefit of having Mercedes is much greater; As a result, its cost can be higher than Hyundai. For some consumers, the value of REALTORS® is the same. That's why they do not see the benefits – only the cost. Consumers do not seek natural benefits. They must be sold and show the benefits, or they will focus solely on the cost. Cost is the part of the equation you do not want to compete with.
Cost: By moving the cost of the service you provide, you can change the value of the service. You can persuade more consumers to use your service. More people will see higher value due to lower costs. When McDonald drops Big Mac to $ 0.99 from $ 1.89, they get a lot more people to buy Big Mac. You can do the same with your commission, but I would not recommend it.
Advantages: Success is found in benefit. To drive efficient and profitable businesses, we need to increase the benefits. This will increase the perceived value of prospects and customers and keep us from competitive on a cost-effective basis. Let me give you two steps to increase the benefits.
1. Team what you do. Consumers do not really know what you do. They see only the conclusion … the commission goes to you. You might be giving a lot of benefits, but nobody would know it. Make sure your customers and prospects clearly understand the services and benefits they receive from working with you.
2. Create a team to add more benefits. The first member of the team is your mortgage planner. He has great advantages to offer. These benefits are also your benefits if you have a strategic alliance. You must work together to fight the commission and evaluate the world's cuts. Increase the recovery level to counter these actions. By creating strategic partnerships with other professionals, you can create more benefits for your customers, by creating more value. By increasing value, you can create more long-term references, thus forming a recurrence process with your business.
Many consumers believe that all REALTORS® are the same. They also believe that they can save money on home loans online. Focus on adding benefits together. The advantages are actually what the customer is buying.
Source by Dirk Zeller