Discussion: If you want something, sometimes it helps to give something away first. Connect people. If you want business, give business away. Give leads away to your prospects. If you have a current client or customer that can use your prospect's products or services, connect them. If you see an interesting article about your prospect’s industry, hobbies, or interests, send it to them. What you give away will come back to you ten-fold.
Action: Give away a service that you know will help you do your job… sell houses! For example, I know of a landscape architect who will do a very professional consultation to an owner, advising the owner what they might do to improve the landscape. Since roughly 80% of the sale is made from the curb, this is a powerful marketing tool that can double as a sales tool. These consultations are not expensive, relative to other marketing costs absorbed by the most aggressive sales agents.
When soliciting unrepresented-sellers, after having made an introduction (preferably in person), consider sending them an article about an unrepresented-seller success story. Maybe they can replicate that performance, or maybe they can’t. Chances are they will not, and this nonperforming experience may convince them that you are the one to help them. After all, you were thoughtful enough to send them ideas for helping them do what they wanted to do in the first place. This sincere demonstration of good-will may go a long way towards winning their confidence.
When implementing discount programs such as seller commission discounts or buyer rebates, offer upgraded services for no additional commission. Make it a deal for the prospect to want to work with you.
When working with buyers, if you want to give back a rebate, reduce the most costly part of your service to them, time! For example, at the risk of sacrificing face-time, a critical element in growing your relationship, let the buyers drive around to look at houses without you. You give them the listings, they do the footwork. Meanwhile you are fast at work making profitable use of your time on other duties. The buyers feel they are getting a good deal and you have given but not lost anything, maybe. Because, in addition to lost face-time, there is also the risk that you may never see the buyers again. So weigh this tactic carefully.
Some agents like to give away a home warranty to buyers. This is a real perceived value, and it demonstrates your genuine concern for their welfare. Many home warranty companies will give agents a big discount on such programs, making the value offered appear even greater than it really is.
Development: Look for services or products that will help you do your job. Be creative! Don’t be afraid to spend money to make money. Show your generosity and flaunt your self-confidence by making a financial commitment to the relationship, even before they say yes.
Dan Wilhelm
ABR, ABRM, CRB, RMP, EcoBroker®
678-397-1282