FAST, NOT SLOW – SMALL, NOT BIG.

29 Mar FAST, NOT SLOW – SMALL, NOT BIG.

Fast Not Slow - Small, Not Big.

"The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow."  - Rupert Murdoch.

For the world that is estate agency, we are already seeing that play out, with the sector fragmenting as never before. Small, agile, sometimes one-person agencies that often pick apart the larger, slower corporate agencies.

The attraction of big, powerful marketing departments, multiple branch networks and studious research departments has diminished in the eyes of the consumer. They want and need something else.

Trust.

In a negative reputation sector, consumers want to be able to trust the agency to deliver on its promises.  When they have that trust, two things happen.

The agency benefits (higher speed and therefore lower cost) and the vendor benefits (less stress, more options).

When there is little or no trust, things slow down and costs increase for the agency. Trust fosters a win-win.

Of course, there are plenty of agencies that will tell you they are trusted. Just look at their 5 star reviews on comparison sites and their social approval. But it's not trust that brought them a 5 star review. It's competence for a job seemingly well-done.

The agency can't claim to be trusted because they were instructed and did their job well. That's retrospective. The vendor didn't necessarily trust them when they instructed the agency, they might simply have considered them best fit.

Trust results from both competence and character.  Most agencies can provide evidence of competence, but that alone doesn't instill trust. There has to be affinity. Shared values.

When there is trust, there is only EVER one agency invited to appraise. It's never a 'beauty contest' when there is trust.

"I trust your agency but I'm just going to invite two others to value my home"

Those are words that we never hear when there is explicit trust. What they mean is that there is no trust and therefore we are still looking.

Anyone reading my previous blogs will know that I am obsessed with agencies being perceived as the only one that does what they do. Having them avoid the comparison trap by being different from rather than better than. Making sure that any vendor knows who they are and what they believe before they ever meet.

So that when they do finally meet, it is only ever one agency invited to appraise. Only ever one agency that gets to ask the questions of the client. In the no-trust scenario, it's a stranger meeting a stranger. Probing and digging to find answers. Hoping that this demonstrates empathy and understanding.  Don't hold your breath on that!

Here's the problem:  There are probably at least two other agencies attempting to do the very same pointless exercise.

"Tell me, Mr. & Mrs. Vendor, what are your main reasons for..?" said in an Australian accent.

A vendor in a highly emotional state, worried that they might make a poor choice and being bombarded with questions that demand a logical answer.  An agent primarily focused with the transaction, on demonstrating the logic of their pitch, rather than the relationship.

Add to that "determined" and "passionate" agencies that "never take No for an answer"

It doesn't bode well for the homeowner to make a considered judgement. Many don't.

If by chance it all comes up smelling of roses, the agency cannot then simply claim they are trusted because of the successful transaction. They were successful despite there being little trust.

Trust is formed when there is transparency and that emanates from vulnerability.

The agency that asks all the questions without ever emerging from behind the 'corporate mask' that is their perfected and polished brand isn't seen as authentic. All take and no give.

So my advice to agencies is to 'go-first'.

Go-first with transparency; with vulnerability. Don't pretend to be something you're not.  Once any agency has the courage to go-first, it's then easy for a vendor to open up. To build a relationship.

But here's a question.

Wouldn't it be faster for an agency to do that right at the start than at the one hour appraisal meeting?  So that vendors, potential clients, get to know who they have invited?

Then, the oft heard phrase from transactional , manipulative salespeople that "it's all about the client" would have some real meaning, instead of sounding like a cop-out by agencies that haven't the courage to first put themselves out there when they can't control the outcome.

Don't put the focus on the client until your agency is brave enough to come across as authentic.transparent, vulnerable and deserving of trust.

It doesn't matter how big the corporate brand, or how low the fee, an agent that is trusted will always prevail.

"It will be the fast beating the slow".

It will be the trusted coming out ahead.

"Every sale has 5 basic obstacles - No Need, No Money, No Hurry, No Desire and No Trust." - Zig Ziglar.

You can't immediately serve those with No Need, Money, Hurry, or Desire but you can avoid that other obstacle and develop Trust.

Imagine if .....

Imagine if you were the ONLY agency in your community that was trusted.

It's not an impossible dream. You haven't got any competition - yet.

Thanks for reading this far. It's been an absolute age since I last posted. Being busy has its downside., but hopefully I can get back to regular jottings again.

chris@andsothetsorybegan.co.uk

www.andsothestorybegan.co.uk