With the rise of technology, not only do realtors have their work cut out to stay relevant, but they also must deal with new technology-driven competitors. In fact, it’s not unusual to lose listings to new iBuyer digital platforms.
Sites like Zillow, Opendoor, Offerpad, and others are using technology to give sellers instant offers on their properties. As such, it’s extremely important for realtors to convey and prove their value to sellers and demonstrate that they are the better option. To begin establishing your value and overcome the challenge presented by iBuyers, follow these simple steps!
Focus on Connection
As a realtor, you have the opportunity to connect with people in a real, tangible way—something that iBuyers cannot claim. Face-to-face connections will always be one of the most important aspects of human interaction, and the same applies to business.
Beyond the tremendous benefits of human connection, realtors have something else that technology cannot replace—intuition. While technology may be able to analyze data and crunch numbers, humans can leverage their experience and natural ability to reason. Thinking outside the box and considering factors beyond what a computer generated offer can do can really give realtors a distinct advantage.
Educate Your Clients
Your years of experience and knowledge cannot be replicated or replaced by technology. By sharing that knowledge in the form of stories and case studies with sellers, you can easily highlight what sets you apart from an ibuyer digital platform.
You can also explain the selling process to the seller. By walking them through a process that may be unfamiliar, you can demonstrate how utilizing a realtor can maximize their net number. While a large portion of this is thanks to your experience and expertise, it is also due to the fee structures that iBuyers use.
In other words, brush up on your knowledge of sales and fee models that iBuyers use so that you can highlight the price a seller will pay for using such services. These costs factor into the seller’s net, making a realtor a more financially viable option!
Remember, it's your job as a fiduciary to educate homeowners so they don't give away their hard earned equity.
Do your research and be ready to present a seller with a comprehensive listing presentation. Doing so will immediately establish your value to the seller and quickly set you apart from other realtors and iBuyers! It also shows how willing you are to work for the seller—something that iBuyers cannot promise.
If your business has been hurt by technology or you’re simply trying to stay ahead, you came to the right place! For more ways to grow your business, connect with us!