How are Realtors and Broccoli alike?

By
Real Estate Agent

Remember when potatoes were just potatoes, not Idaho potatoes or Michigan potatoes?  Remember back before California had dancing raisins, before bananas dressed up like Carmen Miranda and Orange juice commercials featured Donald Sutherland voice-overs?

You see, before that, there was no better example of parity products -- products that are equal, with no greater value, one over another.  A potato was a potato.  The only deciding factor about which potato you would buy is which one had the lowest price.  They were all the same in their perceived value.

That is, till ad agencies came along and convinced everyone that Idaho potatoes are the best, and Chiquita grown the best bananas, Dole the best pineapples and so on.

Those ad agencies added value -- in the perceived quality of otherwise parity products -- fruits and vegetables.  In doing so, they knew they could ask consumers to pay more for their products because they were worth more.

Can you see how Realtors are a little like a head of broccoli?  If you are just the same as every other Realtor, the only basis on which you can compete is price -- how much you charge.

If you want to get paid more and not be left scavenging whatever crumbs of commission are left after paying relocation company referrals, bank foreclosure companies' cut-rate commissions and flat fees, you MUST convince prospective clients what YOU offer is worth more than what the run-of-the-mill real estate offers.

There are many ways to distinguish yourself from the average real estate agent.  You might specialize in a particular neighborhood -- the neighborhood expert -- and, as such, have a network of neighborhood contacts who tell others in the neighborhood how great you are.  You might specialize in FSBOs or expireds and show your success rate in getting those types of homes sold.  You could build a powerful internet-marketing program and show how your internet presence is unrivaled. 

In this highly competitive market, it is your choice whether you compete daily on price alone or you attempt to get paid what you're worth.

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Rainmaker
1,398,124
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes
bravo! limited commissions usually mean limited services. If you do not feel you are worth the commission...you are probably not!
Mar 28, 2008 06:25 AM #1
Rainmaker
535,357
Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI RE Adventures
Nice post Don.  So many make all kinds of claims people get confused sometimes.
Mar 28, 2008 06:27 AM #2
Rainer
144,509
Gary J. Rocks
Juba Team Realty - Jefferson Township, NJ

Don

Nice post! I only hope the next time I am on a listing appointment some one doesn't ask me if I am a Fruit or a Vegetable.

I am worth more that I charge, but I let them think they are getting a bargin and pay me full price anyway.

Mar 28, 2008 06:35 AM #3
Rainer
11,031
Mary Luz-Johnsen
Concierge Notary Services, LLC - Cape Coral, FL

I absolulely agree!  Thanks for a great post!

Mar 28, 2008 06:37 AM #4
Rainer
175,807
Bob Edwards
Coldwell Banker- The Real Estate Group, Inc. - Appleton, WI
Fox Cities Real Estate Hotline, SFR- Appleton, WI
That has got to be one of the best analogies I've seen Don, good job.
Mar 28, 2008 06:46 AM #5
Rainmaker
74,147
Maria Mastrolonardo
RE/MAX of Naperville - Naperville, IL
Realtor, Naperville, IL Real Estate
Don - Great post! Nice title, got my attention :) and I agree with you 100%
Mar 28, 2008 08:33 AM #6
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Rainer
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Don Phelan

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