Some real estate industry observers have been predicting that the Real Estate profession will soon become extinct. Others feel that attorneys will be in charge of the transactions and licensed assistants can show properties. All this will result in lower commission fees or a flat fee and greater efficiency.
All but the best travel agents and stock brokers have gone the way of the dinosaur because the essential information required by consumers to make decisions is now ubiquitous via the Internet; it is a commodity that is free. Real estate information has also become ubiquitous and many agents are becoming commoditized. Most are fighting over the crumbs while a few are seizing the gargantuan share of business in their marketplace.
The agents who will survive are those who truly know their value above and beyond the commodity of ubiquitous real estate information and can readily communicate their extraordinary promise of value to their target market. They are the ones who have the antidote to commoditization.
If you think any of the following words represents your unique promise of value, or describe how you stand out think again. These qualities are just the price of admission to a viable luxury real estate practice:
Integrity, “Expert” (unsubstantiated), competence, market knowledge, ethical, honest, hard-working, negotiating skills, quality service, kindness, “unique” (unsubstantiated), reliable, trustworthy, friendly, “extraordinary” (unsubstantiated).
You must dig deeper to discover your extraordinary promise of value or risk becoming the subject of a movie that will scare the living daylights out of audiences of the future. Will you survive the next Jurassic World flick? Or, will your fiercest competitor become the next Tyrannosaurus Rex?
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.