In Real Estate, Deliver Knowledge not Data
Full service real estate pros know how to compete with information overload and are comfortable stepping in to supply information where the Internet leaves off. Buyers and sellers need a trusted guide to transform overwhelming information into valuable knowledge. Real estate pros who know the difference between data, information and knowledge will be a step ahead.
Real estate information overload on the Internet also presents issues for agents. It doesn’t:
Data is unstructured, individual bits of information, such as MLS data some agents give their customers.
Information can be defined as data displayed graphically in maps, graphs or charts that can help buyers quickly understand the details of homes, schools and neighborhoods.
Knowledge is information that can be applied to a specific client’s circumstances to make better buying and selling decisions. Real estate knowledge that answers practical questions – Is this neighborhood more or less expensive than my current neighborhood? – will help you win business.
Make information overload work for you. Too much information will raise concerns about choosing the wrong house, the wrong neighborhood, wrong school or wrong financing. The key is listening to your buyers and to anticipate the information they really need. If you can cull out the misinformation and non-relevant information, buyers will appreciate your service.
In addition to helping you win business, real estate information can help real estate pros avoid steering issues. Agents can’t say whether a school is good or bad. But they can deliver a report comparing SAT scores, graduation rates, student-to-faculty ratios and other information that can help their clients decide.
It’s your role to package, personalize and interpret information for your prospects, buyers and sellers. And the best way to make complex information quick and easy-to-understand is to make it graphic. Want to learn more ways in which you can deliver knowledge to prospects? Download our free ebook Stand Out and Sell More: Using Real Estate Knowledge to Build your Business. http://www.eneighborhoods.com/report.html
Tuesday, June 30, 2009
Thursday, June 25, 2009
Take back the information advantage
Real estate professionals historically have held a clear information advantage. Listing and neighborhood information was locked up in 3-ring binders or dumb terminals tucked away in brick-and-mortar real estate offices. Buyers and sellers needed to work with real estate pros to get the information, or fly blind.
In the 1990s, the tide began to turn – eventually into a tidal wave of real estate information across the Internet. Neighborhood demographics, sales trends and robust listing information appeared on thousands of websites. As the information advantage shifted toward consumers, some traditional realtors were caught by surprise, and many thought that advantage would never be regained.
Today, agents are less frequently recognized as a valuable source of information. A 2008 study by the California Association of REALTORS® showed 10 percent of respondents found the Internet a more useful source of real estate information than agents. The percentage of respondents who found Internet information less useful than agent-provided information has declined sharply since 2004.
How can you differentiate the information and expertise you’ve built throughout your career from something your clients can pull up on Google? Follow the guidelines in this special report to give your clients information they need and can’t get on their own, marking you as the true Neighborhood Expert.
Download this free ebook: Stand Out and Sell More: Using Real Estate Knowledge to Build Your Business http://www.eneighborhoods.com/report.html
Real estate professionals historically have held a clear information advantage. Listing and neighborhood information was locked up in 3-ring binders or dumb terminals tucked away in brick-and-mortar real estate offices. Buyers and sellers needed to work with real estate pros to get the information, or fly blind.
In the 1990s, the tide began to turn – eventually into a tidal wave of real estate information across the Internet. Neighborhood demographics, sales trends and robust listing information appeared on thousands of websites. As the information advantage shifted toward consumers, some traditional realtors were caught by surprise, and many thought that advantage would never be regained.
Today, agents are less frequently recognized as a valuable source of information. A 2008 study by the California Association of REALTORS® showed 10 percent of respondents found the Internet a more useful source of real estate information than agents. The percentage of respondents who found Internet information less useful than agent-provided information has declined sharply since 2004.
How can you differentiate the information and expertise you’ve built throughout your career from something your clients can pull up on Google? Follow the guidelines in this special report to give your clients information they need and can’t get on their own, marking you as the true Neighborhood Expert.
Download this free ebook: Stand Out and Sell More: Using Real Estate Knowledge to Build Your Business http://www.eneighborhoods.com/report.html
Monday, June 15, 2009
The Secret Formula for Increasing your Income is Really no Secret.
In real estate appraisal terms, the “highest and best use” of a property is how that property would be used most efficiently or profitably. In the same way, the highest and best use of your time as a real estate professional means making the most of those events that lead most directly to income-generating activities– sales, referrals and repeat business.
In other words; Spend more time with better prospects, using better presentations and proposals.
Real estate’s top performers and coaches will tell you the highest and best use of your time is in personal meetings, proposals and presentations. That’s why it’s vital to have a system to make the most of every marketing proposal, open house, and buyer showing. A system that enables you to convert more prospects to clients may be the best marketing investment you can make.
In real estate appraisal terms, the “highest and best use” of a property is how that property would be used most efficiently or profitably. In the same way, the highest and best use of your time as a real estate professional means making the most of those events that lead most directly to income-generating activities– sales, referrals and repeat business.
In other words; Spend more time with better prospects, using better presentations and proposals.
Real estate’s top performers and coaches will tell you the highest and best use of your time is in personal meetings, proposals and presentations. That’s why it’s vital to have a system to make the most of every marketing proposal, open house, and buyer showing. A system that enables you to convert more prospects to clients may be the best marketing investment you can make.
If you think you don’t have time to provide detailed neighborhood knowledge, consider the benefits. If you’re trying to sell a fixer-upper in a desirable area, it’s important to let buyers know about potential appreciation. When working with buyers, it’s a good idea to “sell the neighborhood” along with individual homes. This provides an opportunity to maintain buyer interest and loyalty even if a particular property is not available or doesn’t work out.
Want more tips on how you can increase your income? Download our free ebook Stand Out and Sell More: Using Real Estate Knowledge to Build your Business. http://www.eneighborhoods.com/report.html
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