Real estate agents no longer control the information about real estate available for sale, but we still control the real estate customer experience! The way to compete against the technologies of the world trying to cut us out of the equation is to simply outperform them. Technology will never replace one on one human interaction. These “alternatives” ultimately compete on price, but price IS NOT the only thing consumers care about.
People don’t care what you charge, they care you earned it.
The value a real estate agent brings to the table is the total real estate customer experience you offer. To hammer this week’s message, I wanted to share the sales process of a chiropractor I recently signed up for and how it relates to real estate. Let me explain…
Last week I signed up for 3 months worth of chiropractic services. I didn’t plan on signing up for three months, but I was so impressed with the experience I did it. I going to walk you through my customer experience and then show you how the sales process is no different for a your real estate business.
The Marketing
I was at a street fest with my family and as we were walking through the tents one of them was a chiropractor. I have bad lower back issues so instantly I thought I could get a FREE adjustment. I met Dr. Lara there. She was very approachable and smiley giving off a good first impression. She sat me on the table and gave me a quick check up. She quickly identified where my pain was coming from and offered some valuable advice. She then offered to give me a full check up with x-rays so we can do a deeper analysis at their office.
I didn’t really want to go, but I did because my back has been killing me and I feel like an 85 year old man. Maybe I could get my FREE adjustment at her office:).
What this has to do with the real estate customer experience.
As Realtors we are constantly looking for new clients to work with. Whether you are buying portal leads or you are referral based, the initial step should be to always set an appointment with prospects to learn about their needs and wants and then better advise. We would refer to these as listing presentations or a buyers consultation. The purpose of them to to demonstrate our expertise and better advise the clients so they can make a more informed decision.
I wasn’t a client at the chiropractic office yet and neither are your buyers and sellers leads at this point. Before you take someone to go see a bunch of homes or even list your best friend’s house, you SHOULD always walk each client through the entire process regardless of who they are. This also will help you weed out the people who aren’t that serious.
Who makes one of the largest financial investments of their life without talking about it in detail. If they are serious buyers or sellers they will meet with you before they commit to working with you!
Far too often, Realtors try to sell a house on the first meeting. Instead focus on creating extreme value upfront earning their business . I am currently in the “Lead” phase.
The Consultation
I arrived at the chiropractors office and met Dr. Lara. Instantly I was greeted with with a big smile by their front staff. They are extremely personable. There were other patients in the office too and I noticed the interaction they had with the staff as well. It felt like everyone knew each other for a long time. We took some x-rays and she further checked out my back. She then walked me through in detail how chiropractors work and in general how the discs line up in your vertebrae. I’ve been to plenty of chiropractors and not once did I ever learn this much about my back.
We ended the consultation by setting up a follow up to analyze my x-rays as those would show us where the problem areas are. I set another appointment to come back in 3 days.
What this has to do with the real estate customer experience.
This was like visiting a house and doing a listing presentation. You are able to see the property first hand so that you know how to properly come up with a marketing plan for it. You need to research the local area, create the ideal buyer avatar, and then create a marketing plan to speak to that particular audience. However you cannot come up with that kind of marketing plan without first seeing the property yourself. You also demonstrate your expertise and apply for the job.
When you are meeting with prospects, it’s important to learn their needs. Not every seller is looking for the highest and best price for example. Listen to what people want, and then create the best solution for them.
Are you setting up a marketing plan specific for that property and then creating another reason to come back or call back. For example, “now that I know what your house is worth Mr. & Mrs. Seller, I will create a net sheet for you and then you can see what your true walk away bottom line will be”. Just because you go on a listing presentation or buyers consultation doesn’t mean you’re hired, you just auditioned for the job. If you do get hired on the spot, then great, you would still follow up with value!
I am currently in the “Prospect” phase.
The Follow Up & Options
I had to go back in the chiropractors office to see the results of my x-rays. I was super curious and even a bit excited to find out what was going on. My back looks like a bent straw in x-rays. I learned that my back was slowly deteriorating and I had to do something about it. At this time I am still not a client. Dr. Lara further advised me with a 3 month plan of action that was very detailed.
She took out a piece of paper and walked me through each week what each session would look like. Instantly I was thinking this was going to be pretty expensive. I know I wanted to do it, but was curious on what the price was going to be. She gave me 3 different payment options.
Option 1- We could go on an a la carte basis. The total for this would be roughly $2400 for 3 months.
Option 2- We could do a flat fee of $600/month for 3 months bringing the total to $1,800.
Option 3- I could pay the entire 3 months up front for $1,440.
I chose option 3. Keep in mind when I started this, I was only planning on getting adjusted for FREE at a street festival. Now I’m going to therapy 3 times a week and just spent $1400 bucks.
The best part is that I’m happy to invest into my body and take care of a problem I didn’t know was that serious. I appreciated the different options and the way they stacked their offer. Ultimately they sold me on the experience I receive each and every time I visit the office. Yea, I’ll get my back adjusted each time I go, but I bought into the 3 month plan that would force me to fix this issue. At that point the cost was irrelevant because I could justify the value.
What this has to do with the real estate customer experience.
Everything! How many times in the past year have you been asked to discount your commission? Have you lost a buyer to a rebate brokerage yet? People only choose less expensive alternatives when there is a lack of value in their present option.
People choose a rebate broker over you because they think the 1-1.5% savings is worth more than your expertise.
People chose listing with a flat fee brokerage for $3,750 over a 5-6% commission because they think all you are doing is popping up a sign in the yard and listing their home on the MLS.
People want you to earn their business. If your involvement in a transaction creates more value than you being absent from it, then payment is not an obstacle.
Do you have options to your services? Is your role truly defined? What is your process?
It is crucial to your business to develop your own customer service process to enhance the real estate customer experience in your business because it’s a fact that what someone else says about your business is far more powerful than what you can ever say about it. Also, keep in mind that over 60% of business each and every year comes from the people you know, past clients, or referrals.