In this video, we discuss the three distinctively different categories that real estate agents fall into.
You may have read a previous post that asks, “Which REALTOR® Box Do You Live In?” This is a somewhat abbreviated version of the original post designed to help agents who are struggling with how to differentiate themselves from the thousands of competitors out there in the current real estate market.
Box #1: Typical REALTORS®
This particular box is big. Really big. It contains thousands of real estate agents in your market. They may be both new or seasoned. They are doing their jobs quite well and likely have a reputation within their sphere of influence as being good people and competent professionals.
The tendency of agents in this box is to work with a wide variety of clients. Box #1 agents have no particular preference as to geographic area, type of client, or type of property. Not only will these agents work with just about anyone, they will work until midnight, on weekends, and skip their kid’s soccer game if needed. They are often tired, burned out, struggling to make consistent sales, and regularly wondering if real estate sales is the right career for them
Box #2: Atypical agents
Fortunately, Box #2 is much smaller than Box #1. This is the box that neither the agent community nor the public prefers to acknowledge. That said, it’s still there and we have to deal with it.
Agents in this box are incompetent, lack integrity, or are in it only for the commission. They may be part-timers who aren’t trained or knowledgeable about the current market, investors who don’t disclose their true agenda when meeting with potential sellers, or addicts looking for their next high in the medicine cabinets of the homes they show.
The good news is that these agents usually come and go because consumers have plenty of other agents to choose from. Nonetheless, there are still a few bad apples out there tenacious enough to withstand public, professional, and legal scrutiny.
Box #3: Specialists
Over the years, smart real estate professionals have learned that trying to be all things to all people is exhausting. Hence, the evolution of Box #3. This isn’t simply a matter of getting a list of designations or a wall of plaques, however.
Being a specialist is about expertise. It’s about focus and intention toward a very specific segment of the market.
Specialists make it their business to know virtually everything about their target audience. By doing so, they not only provide a higher level of service to their clients, but they find themselves much more focused and passionate about their work.
Going from Box #1 to Box #3
Box #1 isn’t a bad place to be. It certainly has its appeal and most brokerages encourage (or at least perpetuate) life in Box #1. The typical brokerage perspective is that EVERYONE is a potential piece of business, so don’t limit yourself. That, however, is unfortunate.
Making the leap to Box #3 can be scary when you’re deep-seated in Box #1.
Here’s the truth of the matter. Once you’ve made the move to Box #3 by getting the right training, coaching, and a bit of experience under your belt, you realize that there’s really NO BOX AT ALL.
The options and opportunities are limitless.
When you are a REAL expert (not just someone who checked the box after finishing a $299 weekend course) people seek you out. Your commission is no longer questioned, nor is your value. You are truly different.
Are You Ready to learn?
If you are tired of being in BOX #1 and want to become a REAL expert who serves those in the mature market (i.e. longtime homeowners, downsizing seniors, empty nesters, etc,) join us at SREI and enroll in Success in Seniors Real Estate.
Success in Seniors Real Estate Part 1 covers how to best serve the mature market segment. Part 2 covers how to grow a niche centered on the mature market, and part 3 is the blueprint for taking step-by-step systematic and purposeful action!