Are DIY Home Buyers a Curse or a Cure?
Many buyers are no longer using realtors' services to buy or sell their home. Even DIY portals are popping up to cash in on this rising trend. This rise of DIY buyers and online portals have annoyed many realtors. And everybody is wondering whether it's going to be here for good?
Is that a bad thing? How do you solve it?
Well, I've got news for you.
DIY is not Going Away
Whether you like it or not, DIY home buyers are here to stay.
You see, we've always have DIY sellers, otherwise known as For Sale By Owner.
So the the reason for this curse?
Agents have neglected to do 2 things:
- Agents made many promises that were not kept
- Agents did not educate prospects enough
We've only got ourselves to blame for our actions
I know, this will most likely piss you off. And it's up to you whether you want to keep staying angry and do nothing about it, or take back control and solve the root causes of this issue.
Today, I'm going to talk about solutions. Before I do that, I will speak about the context that you need to understand before you can take concrete steps to solve this.
Two Main Trends Responsible for the Rise of DIY Culture
There have been 2 main trends that have allowed the rise of the DIY home buyer.
- The Internet has made information easily available to anyone searching for a home. Therefore, prospects are better educated and agents are no longer in possession of exclusive information.
- The empty promises that marketers made back in the 1990s have come back to bite them in the ass. The number 1 trend in global society is scepticism. Everyone suspects everything else. And agents did not educate prospects enough.
So, you know the massive trends that are the internet and scepticism have been largely responsible for this.
But It's not entirely your fault
Yes, it's not entirely your fault. Agents have been too busy chasing new business to keep up with the rapid changes in technology.
Also, training courses or CEA examination do not teach agents how to differentiate themselves. Agents do not know how to set themselves apart from tall the other 30,000 realtors in Singapore.
So, what's the solution?
Here's the solution:
Step 1: Think of how to differentiate yourself from all of your competitors. Saying "I'm a Top Producer" is not going to cut it, because that's a meaningless statement everyone is saying but no one is buying. You must answer the question "Why must I do business with you, over whatever I'm doing, or doing nothing at all?" That statement is called a Unique Selling Proposition (USP) which I learnt from my mentor Dan Kennedy. Once you answer that question, you will have mastered differentiation and defeated DIY portals at their own game. In my book Property Agent Secrets, I give away all of the USP statements that I created for myself and my realtors.
Step 2: Put your USP everywhere. Own it. Advertise it. Communicate it.
It's a seemingly simple solution to one of the biggest threats to realtors' rice bowls. Do it asap and watch DIYers wilt before you.
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Yasser Khan is a real estate coach, speaker, and trainer at YasserKhan.SG who teaches Realtors how to make more Money, have more Time and enjoy more Freedom without all the B.S.
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