Elite AgentOPINION

The best way to ‘compete’ is not to compete at all

We’ve all heard the rhetoric about what a competitive industry real estate can be and a range of sports-style metaphors abound.

Just consider, there are terms like ‘winning the listing’, ‘getting a sale across the line’ and a whole lot more.

But if you really want to ‘win’ at real estate, the truth of it is, that you don’t want to be competing at all.

Instead, you want to be the chosen one. You want to be the agent called into a listing presentation without any competition.

So, what does it take to be the chosen one, and how can this benefit your career?

The benefits of being the chosen one

When you are the chosen one, you are an agent selected on your reputation and your track record.

As this agent of choice, you enter a listing presentation with no ‘opponent’ to consider.

Vendors call you in, some of whom you have never met before, but they know about what you do, what you stand for and what you can achieve.

And this changes the conversation you have with clients in a range of different ways.

Rather than conversations focused on ‘why you should choose me’, the narrative shifts to the vendor and their needs.

Now it’s about maximising the sale price of that client’s property and ensuring their service expectations and property needs are met.

You are their trusted advisor, offering insight and guidance rather than having ‘difficult conversations’ about property prices.

Discounting fees and marketing also become a thing of the past.

The chosen one’s value is understood, their sales and marketing methods are proven, and the vendor is willing to pay the prescribed rate for that expertise.

But how do you become that chosen agent who doesn’t need to compete at all?

How to be the chosen one

Becoming the chosen one starts long before you walk through the door of any listing presentation, and it begins with great real estate basics, including marketing and a track record of good service.

So, let’s break that down…

Ahead of the curve

If you want to become the chosen one, you need to invest money, time and effort to stay ahead of the curve.

That means you need to build your profile and brand, know the market, create a résumé of excellent results and good service, and back this up with a commitment to ongoing education.

The basics, over and over

Becoming the chosen one doesn’t happen overnight. It’s about doing the basics over and over again.

It’s the long game and continued pursuit of excellence that translates to a lengthy track record of irrefutable results which past sellers and buyers happily talk about with their friends.

Sell the story

At every opportunity, you need to sell the story of how you assist your clients through the property journey.

You need to shout this loudly and proudly, but not in a way that’s all about you.

Instead, the story needs to be shared in a way that your prospective clients relate to, where they can appreciate there’s something in it for them.

And when it comes to working with vendors, that ‘something’ always comes back to one thing – buyers.

Buyers on hand

Let’s not over-complicate things here. The one thing that matters most to vendors is the fact that you have buyers who are actively seeking a property.

Vendors want to know how you work with buyers and how you will connect those buyers with their property.

The rest of it, including the trust, rapport, how you service them, project manage the sale, negotiate, or provide after-sales service are all elements to the process of securing buyers.

So how can you showcase you have the goods? It’s simple.

  1. Invest your effort in your ‘sold’ stories and let your marketplace know how you found a buyer.
  2. Promote your colleagues, office, adjoining offices, and network sales results to build and then showcase a vast buyer list.
  3. Now, more than ever, use the buyer letter.

If you tell your target audience that you have the buyers they seek, you win, without ever competing.

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Manos Findikakis

Manos Findikakis is the CEO of Agents'Agency, Australia's first multi-brand real estate network.

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