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The Real Estate Wheel

 

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You Don’t Have To Reinvent the Wheel. Have you ever heard someone say this? This discussion usually takes place when someone is looking for a Great Idea or the Next Big Thing or trying to hard to be a “Disruptor”.

(An aside: Please stop using any form of the word “disrupt” in relation to business. We’re over it. Seriously, we had a meeting. Stop it. Love, Everyone.)

The reality is, you don’t need to come up with something that no one else has ever thought of, you simply need to do a particular thing better than everyone else, or solve a current problem. Not sure where to begin? Here are some examples of things that actual consumers view as problems in the real estate industry:

Ready for a change

“I think the industry is ready for an change. I know I am. Flat fees on Realtors commission and no closing costs should be the norm. Want me to sell my home? Not when I am going to lose 50K off the top!” (Source.)

Regardless of whether this person has a full understanding of the process, the perception of a problem is there. Are you prepared to solve that problem for a potential client?

Looking for answers

Looking to buy a duplex as my first house. What things do I need to consider, should I hire a management company to handle the tenants?(Source.)

First time buyers aren’t just looking for small, starter homes. Consumers are more savvy than ever about their investments; are you educated enough to guide them and prepare them for what lies ahead?

Don’t jump the gun

“We currently own a condo and have an agreement in place to close on our place in July. So no worry about selling our place, but when is it too early to find a realtor and start looking for a home in our new market?” (Source.)

When you’re looking for your next sale, you may want to jump on the opportunity to lock in new buyers. However, even if now is a good time for you, it may not be the best decision for your potential clients. Do you have the level of expertise necessary to guide these consumers until the right time comes? Can you provide a high enough level of caring, customer service and value to keep their interest until it’s time to walk them down the path to homeownership?

Can you fix these problems? Are you prepared to deal with consumers who share these -or similar- concerns? If not, you have your work cut out for you. If you can, you’re already on your way to Rock Star Status.

The simple fact is that being good at your job may be enough -at least for now.

There are plenty of part-time agents who don’t take the time to become experts in the field of real estate, much less spend time caring for the clients they manage to snag. There are plenty of experienced agents who are too busy with their established client base to devote quality time to a new buyer or seller.

You don’t need to hatch a plan to turn the industry on it’s ear to be successful. You just have to know what you’re doing and care enough to make sure you do it well.

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