Living in a world where a plethora of information is available at any moment is truly incredible. With just a few taps or voice commands, we can summon an endless reservoir of knowledge, thanks to platforms like Google, Alexa, ChatGPT and Siri. Gone are the days of exhaustive trips to the library or waiting for an expert’s opinion. Now the answers to our questions are mere seconds away.
In theory, it’s great. However, what does it mean when consumers can find information about anything — say, real estate — so readily available?
Articulating Your Commission and Value as a Real Estate Agent
In today’s competitive market, you’re not just competing with other agents. You’re also up against the vast resources of those large search platforms.
To withstand this, you must articulate your value proposition to both buyers and sellers. It’s no longer sufficient to rely on superficial marketing tactics. Instead, show off what makes you special: your unique expertise, industry know-how, and personalized services. This helps you stand out in a busy industry. Otherwise, clients might choose digital assistants for real estate advice, which could mean they miss out on the tailored help and specialized knowledge that experienced agents offer.
For buyers, it’s about really getting their needs, preferences, and dream lifestyle. It’s not just about showing them listings; it’s about giving them personalized advice and access to special opportunities that match their lifestyle and financial goals.
Similarly, when working with sellers, it’s imperative to highlight your unparalleled skills in marketing and negotiations. From leveraging a beautifully designed, cutting-edge website to showcasing a deep knowledge of local market trends, sellers must be reassured that you possess the keen insight and resources to get them the best possible outcome.
Justifying Your Commission
Have you found yourself in a situation where you need to work harder than ever to prove your value and justify your commission? With the abundance of online resources, clients may be tempted to dive into the home buying/selling process on their own.
Some people think that real estate is simply putting a “for sale” sign in the lawn and running an online ad. These people don’t understand the complexities that go into your day-to-day life. Buying or selling a home involves navigating a labyrinth of legal, financial, and logistical hurdles. It requires expert guidance and strategic decision-making. We know we’re preaching to the choir!
Alternatively, you may also find yourself in a scenario where you feel pressured to lower your commission, especially with the recent lawsuits circulating the real estate industry. This has agents all over Canada and the USA worried that their clients (especially buyers) are going to be questioning and negotiating more on the commission amount. If you find yourself in that position, you can use these strategies to show your clients the value you bring to each transaction.
Be Able to Explain the Value of Your Services
You’re here to make your clients’ lives easier. While it’s your goal to make the home buying/selling process as smooth as possible, we recommend providing a clear overview of the entire process. You can share high level details, like Savino Realty does so well on their RealtyNinja website, or delve into the specifics of your services. Either way, this will help your clients fully grasp how much you have to offer and the value you bring to the table.
This will also make it clear that you don’t just take your clients to listings or provide an MLS® search (like a million other websites do). It’s not just about the number of listings you show them or how many open houses you hold—it’s about guiding clients through one of the most significant and emotional purchases of their lives.
Just as a sherpa helps you navigate treacherous mountain climbs, you lead your clients through the potentially daunting landscape of property transactions. You offer support, expertise, and a clear path forward, making their journey smoother and less intimidating.
On top of this, the home buying/selling process can be time consuming. If your clients don’t have visibility into what your services entail, they might assume that finding a home online is a straightforward task that you can tackle alone.
Without the support of an agent, navigating the complexities of the real estate journey can feel like taking on another full-time job — especially if the market is hot and you need to act within days, if not hours. Explain how your services can navigate the process seamlessly and confidently, and assure your clients that they have a trusted ally working tirelessly on their behalf.
Highlight Your Unique Value Proposition
In the competitive world of real estate, your ability to stand out lies on your ability to communicate your unique strengths. So what sets you apart from other agents? Is it your innovative marketing strategies or the many years you’ve dedicated to your real estate career? Maybe it’s your knowledge of a specific neighborhood from the years you lived there. Your insight into the schools, the best brunch spots, and the hidden gems gives your clients a unique perspective that goes beyond the typical property search.
Maybe your defining trait is your incredible negotiation tactics. To be an effective negotiator, you have to truly understand your client’s interests.
This heightened insight not only strengthens your connection with your clients but also allows you to advocate for them effectively during negotiations with prospective buyers or sellers. When you strategically leverage these insights, clients are more inclined to recognize the value of your services.
Furthermore, real estate negotiations are often their own set of complexities. From negotiating offers to any repair requests, clients will want to know you’re an expert and can secure the best deal on their behalf.
Leverage testimonials
Real estate is a highly competitive field where clients have multiple options for representation. Their vetting process? Checking out your reviews to see what others said about working with you. Good reviews are like a spotlight, highlighting your professionalism, popularity, and commitment to providing exceptional services.
Make sure you have testimonials on your Google listing page and your website, as these will likely be the first places someone looks.
Video or text-based testimonials that touch on your professionalism and commitment to providing exceptional services are certainly valuable. However, those that specifically emphasize the time, money and headaches you saved clients from will be especially invaluable.
Wondering how to ask for reviews or what prompts to offer that will showcase your stellar reputation? Check out our guide on collective social proof and reviews!
Be Consistent and Authentic
Your value doesn’t just lie in your professional expertise, but also in your distinctive personality, values, and approach to client service. It’s the essence of who you are as an agent and what sets you apart from your competitors. Therefore, every aspect of your marketing efforts—from your real estate website and social media presence to your advertising campaigns and client interactions—should be meticulously crafted to showcase your value as a real estate agent.
Your website is not just a digital storefront, but a virtual representation of your personal brand. It’s one of the most effective digital platforms that can highlight the value of your services, while also providing a space where your authenticity can really shine.
A beautifully designed website captivates visitors from the moment they arrive. It can serve as a hub of information and resources, offering valuable insights into your local market, property listings, and client testimonials. Or it can serve as a powerful marketing tool that showcases your unique selling propositions and highlights the benefits of working with you.
Whether it’s through compelling property listings, stunning imagery, captivating video or informative blog posts, your website has the power to communicate your value at every webpage.
It’s important to note that maintaining authenticity is key in the real estate industry. Your clients aren’t just seeking a transactional service; they’re seeking a genuine connection with someone they can trust to guide them through one of life’s most significant decisions. For most people, it’s the largest — and most important — financial investment they will ever make.
Authenticity breeds trust and fosters lasting relationships. When you remain true to yourself and your values, clients recognize your sincerity and integrity, which in turn instills confidence in your abilities as an agent (and a great one at that).
Bottom Line
Everyone wants to feel appreciated, and you’re no different. You invest considerable time, effort and passion into your business and it can be discouraging when people devalue your services. But at the end of the day, you know all the reasons you’re valuable.
We’ve covered a lot of fundamentals on how to demonstrate your worth, but it’s important to remember that explaining your value and proving it are two separate things. The only way to prove it is by doing it.
Many real estate professionals hesitate to promote themselves, fearing they may appear self-important. Yet, it’s crucial to educate customers about your services and, most importantly, why your commission is justified. Get in front of the community and prove your worth. Volunteer, give advice, talk to people about the market. Make it known that you’re an agent.
Justifying your worth as a real estate agent is paramount in today’s competitive market. With numerous agents vying for clients’ attention or clients thinking they can do it on their own, it’s essential to differentiate yourself by showcasing your unique value proposition.
Clients need to trust that their agent has the knowledge, expertise, and dedication to guide them through the process effectively, especially considering the headaches and potential legal or financial issues that can arise from attempting to buy a house on their own. Working with a real estate agent not only streamlines the process but also provides invaluable support and protection throughout the transaction. Again, we’re preaching to the choir!
