09 Dec Avoid The Goldilocks Trap.
Avoid The Goldilocks Trap.
Received wisdom for homeowners looking to instruct an estate agency/realtor is to invite three agencies out to appraise. So, of course, you arrange the appointment.
Here's the problem with that limited thinking:
Homeowners, by and large, aren't qualified to judge the competence of any estate agency. They rely on information they are given in the space of an hour-long appraisal. Often, they are subjected to manipulation and pressured sales tactics that have been ingrained into some agencies for years by bosses and 'trainers'. Given a script for overcoming objections, telling only half a 'story' of why they should be the agency of choice.
Reviews sites are no better. Put aside the fact that all reviews are subjective and that one vendor might rate their experience of an agency as five stars, whilst another, given the same experience, would have rated it three stars. Many review sites only feature agencies that have paid to be included on the site. Ditto, the "awards".
It's a confusing time for any vendor and hearing different valuations, different marketing proposals and different fee levels simply adds to it.
One valuation appears too high, the other too low. One fee too high, one too low to be credible.
And there we have it, the Goldilocks solution. Not too high, not too low - about right. An agency chosen by a naive vendor not because it is the best solution, but because it's in the safe, messy middle.
Agencies, themselves, sign-up to this 'competition' believing they have the credentials to 'win' the instruction against other agencies. And appear surprised when they are not the agency of choice. Negotiating the fee down and still not winning. Playing this infinite 'game' where there are no fixed rules, where anyone can say almost anything, and expecting a positive finite result. Madness.
Sigh!!!, some you win, some you lose. On to the next.
The stupidity of this scenario is that every agency is influenced by what their competitors are doing, what they are saying and how they are running those businesses. Perfectly content to have been invited to pitch, you imagine your agency worthy - without ever knowing who it is up against, or whether the potential client has any preconceived ideas. Flying blind is a phrase that springs to mind.
In my quieter moments, I have been known to waffle on about attraction marketing, versus interruption marketing.
Every agency can interrupt - world-class door-knockers, Olympic-standard leaflet droppers and loads-of-money TV advertisers. Few, though, can attract.
Enough that their agency is the ONLY agency ever invited to appraise.
When the choice is for a homeowner to invite an estate agency that has most brand recognition, one that is well-respected or one that is unfailingly trusted - guess which agency turns up?
It's not a comparison the homeowner has to make - it's a choice. That's the agency they want; no other.
So my question is this: would you prefer to be one of three?
Or the ONLY agency that is invited?
A client that knows WHO you are, what your agency values & believes and a client that is prepared to pay a premium for that privilege.
Attraction marketing comes in many guises. It applies equally to single hybrid agents as to multi-branch corporate agencies. For some, it is developing their personal brand. For other agencies, it is shining a spotlight on their unique culture, or turning them into a Category Leader.
Whichever form that takes, it does require a crystal-clear and concise message.
I'm betting your agency doesn't have one!
Other than the ubiquitous "we are better than" other agencies.
Prove me wrong - tell me what you've got that others have not. I'm all ears.
The alternative is to remain, if you're lucky, one of three.
Here's how to reach me if you want to avoid the Goldilocks Trap.
chris@andsothestorybegan.co.uk
Mob: (44) 07369251435
Chris.
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