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March 5, 2018

Developing a Menu of Services - Part 3 - Conclusion

Developing "clients for life" is more than a motto. It can become your reality, depending on your ability to understand and deliver professional services with the "Driving Forces" of consumerism in mind:

The Real Estate Professionals and companies that survive the major changes taking place in this industry are those that can quantify what they do and how they earn their money to the ever more educated and empowered consumer. In this discussion thread, we are in the process of doing just that, and I would like to take a momentary detour.

Consumers, not just real estate consumers, but all consumers, are today looking for as many of the following items as possible (or different combinations of the following) as they shop for products and services. These items can be referred to as "Driving Forces" and when you, as a Real Estate Professional

look at what you do
how you do it
and how you market it

you should endeavor to bring as many of these driving forces to bear (and make it known to your client in your marketing and correspondence) as possible:

Speed - think of fast food and one-hour film developing. Lots of people want it, and they might even take an inferior product as a substitute for the speed

Convenience - think of Seven Eleven stores (and also remember that people will often pay a premium for convenience--use it in your marketing)

Choice - the more alternatives initially, the more consumers like it, but then they narrow it down

Value-added - people like to get MORE than they pay for, this is value added. Real Estate Professionals provide value-added services every day, but few take the time to re-enforce that to their clients. Have you ever cleaned or painted a house for a client after a sale? Helped them move something (I remember helping to move a refrigerator early in my real estate career)...or something like that, an extra, that WASN'T in the listing agreement but you did it anyway? That's "Value Added"

Discounts - If it is convenient enough, you will use a coupon. Lots of people look for discounts in everything they do. This doesn't mean you should offer discounts, but you must be aware that for many this is a "driving force" so play to your strengths in your marketing

Quality - Are you willing to pay more for quality? Many people are.

Service - think of Nordstrom's, which prides itself on its service. Again, some people are willing to pay more for good service

Information - this is the age of information! Consumers won't buy a toaster or a microwave without first buying a copy of Consumer's Guide", let alone a piece of real estate. Make it quick (speed) and convenient for your clients to access to lots of (choice) information.

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