Categorized | Marketing

How Can Real Estate Agents Differentiate Themselves From Their Competition?


tulipsDoes a seller (or buyer) really care how many properties a real estate agent has sold this year, or what the value of the properties they sold is. In fact, even the best real estate agent spending thousands of dollars on advertising and marketing to sell a property will not guarantee its sale. So a lot of the time picking an agent comes down to price, luck or more often these days it comes down to community; word of mouth.

A real estate agent is someone who acts as an intermediary between buyers and sellers of property, trying to find sellers who wish to sell and buyers who wish to buy. Estate agents typically provide marketing services for sellers to assist them sell for the highest possible price, and assist buyers by helping them purchase property for the lowest possible price under the best terms.

While the act of selling a property or buying a property may be the most important steps in moving house, there are a significant number of steps that need to occur to ensure a move is successful. A customer must find a solicitor to deal with the contracts, ensure they have finance available, ensure they have a removalist organised, make sure insurance is organised, organise any number of trades and service people to clean, wash, paint, fix and mend.

So the question is, who is actually delivering the service that the customer really needs? Whose responsibility is it to ensure that a customer is getting what they need? Well, estate agents may be selling a house, helping to buy another house for a customer but does this alone make the process a successful one? What about the steps in the middle. I’d say the answer right now is nobody provides what customers really need. So if a real estate agent was looking do differentiate themselves from their competition, perhaps the best way is to make one customers life easier, simpler and more successful by delivering the all services they really need, taking an outside in approach, seeking opportunity in the customer value chain. Then when one of their friends asks which real estate to use, they will have no hesitation in recommending the services of the real estate that delivers the full service.

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This post was written by:

David Mottershead - who has written 5 posts on Business Blogs.

David is an experienced business process professional, management consultant and managing director of Outside In Consulting, a company which specializes in helping businesses reduce costs, increase revenues and improve services. Outside In Consulting is affiliated with the BP Group (BPGroup.org), an international business group whose mission is to contribute to the skills and development of professionals who help their organisations directly meet the challenges of the 21st century and engage in activities that promote best practice in business process transformation and change for business benefit and customer success. Using Advanced BPM analysis techniques (aka 'Outside-In'), the group is a pioneer of Outside In thinking and practice and continually encourages organisations to view their businesses from the customer perspective. David also holds the position of BP Group Director of Operations (ANZ) and is a member of the BP Group Advisory Board.


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2 Responses to “How Can Real Estate Agents Differentiate Themselves From Their Competition?”

  1. Philip Reeve says:

    Good post David. We have a trusted, reliable group of cleaners, handymen, builders, solicitors, homestagers, gardeners, management companies for rental assessments etc who we recommend to clients during the "getting ready to sell" process. (Their choice is they use them or not!). Presentation and preparation is everything when selling especially with lower sales volumes. Anything we and the client can do to get their property 100% ready for sale is actively encouraged. We approach the process from a holistic point of view not just – LIST, MARKET, SELL – approach many seem to have. Cheers – Philip Reeve, RE/MAX Leaders Wellington – 0800 REMAX1 (736 291).

  2. Gabriel TUHORO says:

    Really interesting points, good post. I agree most Estate Agents have not provided a service for those 'steps in the middle' you mentioned, however if I may address who is the customer you comment about in this blog simply by asking who is the customer of the Estate Agent? Simple answer the person who pays the commission. So therefore this is the person for whom we act as a fudiciary through the selling cycle process not an intermediary as you mentioned. The customer you mention in this blog is based on the buyer and the services they need in order to purchase i.e finance, builders to mend and even solicitors and unfortunately they dont pay for those services, however there are buyers agents out there whom are providing these services as you mentioned in this blog and many buyers in auckalnd are utilising these services very successfully.

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