So… what do you do, anyway?
As a Realtor®, if a prospect asks you this questions you have a variety of feelings – some less helpful than others. Mostly, though, you just gape at them and try to figure out how to say, “Um, everything?”
Unfortunately, we live in a time where the true work Realtors® do is not understood or respected. This results in clients being over-needy while also asking us to reduce our commissions. Fortunately, you can head off a lot of this if you can clearly communicate your value. So here are three things to say when a prospect or client asks that ridiculous question – “What do you do?”
Be an Expert on Market Conditions and Prices
One of the key elements of being a Realtor®, from your client’s perspective, is your knowledge of the current home market and prices. This includes available properties and price ranges for your buyers, as well as knowing comps for your sellers. Staying up to date on these things at all times – without a computer handy – is not easy. However, the knowledge is vital to your customers’ ability to get the best value out of the real estate deal.
So, explain to your customers and prospects that you are an expert on market conditions, available homes, and appropriate pricing, and that this knowledge helps your clients get amazing value in their home purchases and sales.
Communicate With Everyone Involved In a Sale or Purchase
One thing that potential FSBOs don’t realize is exactly how many people are involved in a home transaction. The other party’s agent, the home inspector, the lender, and the appraiser are just the beginning of the list. You juggle everyone’s concerns and needs with the utmost skill, keeping that burden off of your client’s shoulders.
You can let your prospect or customer know that you get calls and texts at every time of day or night, from clients, lenders, prospects, appraiser, inspectors, and more. By working with you, they avoid this burden entirely. You also capably handle all the paperwork, ensuring that the transaction meets every requirement. This is an exceptional value for your customers.
Schedule Showings and Drive Buyers to Properties
Many new homeowners – and sellers – don’t know the best points of a home. They simply aren’t aware of what to look for. As a professional Realtor®, you help your clients look beyond the shiny finishes into the real structure and layout. You match your buyers with the perfect property that meets their needs, and personally walk them through the options. For your sellers, you contact buyer’s agents, set up open houses, and market their home in dozens of other ways.
When you explain to your prospects the amount of time and energy you put into matching the perfect home with the perfect buyers, they will have a better understanding of your value as a professional.
Guide Your Clients Through Transactions, End-to-End
One of the most difficult situations anyone has to face is uncertainty. For many people, uncertainty is worse than actual bad news. Not knowing what to expect, or what is going to happen next, puts even the most patient people on edge. As a real estate professional, you remove that uncertainty to a large degree for your clients. You help them know what’s expected in each stage of the sales or buying journey, how long it may take, and what will happen afterward. By helping your customers understand what’s expected of them, you remove their fear and help them be comfortable in the transaction.
When you explain – even briefly – all the steps to the real estate transaction and how you will be there for your client during every one of them, most people feel a sense of relief. Many simply don’t understand how complex the transaction is. Once you explain it to them, your value will be clearer.
Provide an Outside Opinion
Too many homeowners and home buyers have unrealistic expectations of the market. By acting as a neutral third party, you help them avoid making some common mistakes, including mispricing their home, offering too low of a bid, or being unable to negotiate a counter-offer. When you are there to give a true look at how others see a home, you can help your client remove their rose-colored glasses and take an objective look as well.
Your unbiased opinion and honest assessment of the market conditions can be the difference between a home selling quickly and never moving at all. Your negotiation skills are the difference between getting a home in-budget or getting an offer rejected outright. When you explain the importance of a third-person viewpoint, prospects will be able to grasp your value more easily.
It’s not easy to put into words exactly why we’re so important to a real estate transaction. We know we are, we just have a hard time expressing it. The five ways above will help you put words to your value, so that you can explain your importance to prospects. Hopefully, this will help you negotiate an appropriate commission from a client who has proper expectations.
How do you explain your value to a client? Share in the comments!