Today’s savvy real estate consumer knows that there is an abundance of real estate information and data available to them online, 24/7, absolutely free of charge. To succeed in our transparent digital world, you need to deliver accurate, valuable data and information but you must also learn to deliver something relevant, scarce and new that I refer to as insight.
Insight is simply information with value added to it. That value might be your years of experience or it might be important details that only you have access to. It could also be your ability to take something complex and make it more easily understood. Insight is information your customers or potential customers didn’t know, they didn’t know. It’s unexpected.
If you struggle with communicating your value as a real estate professional, then take a look at these 3 simple ideas that will help build consumer confidence and set you miles apart from your competition.
1. Add Interpretations
Put the information in context for your clients. What is a sales-to-listing ratio? What does that mean to the price they put on their home? What’s happening with mortgage rates and what does that mean? What strategies do they need for a buyer’s market? How about a seller’s market? Think about what you can add to the information that will give it more context and make it more useful.
2. Bring Scarce Information
There is important information about key market areas that is hard to find, protected, not easily compiled, or that requires relationships to access. Your clients may not need you to bring them MLS data – this information is abundant – but what about:
• Current local market statistics like months of inventory or days on market
• Future development projects
• Economic development plans and prospects for a community
• Trends in school planning and school quality
• Upcoming changes in zoning, highways and infrastructure
• Properties that may not be listed on the MLS or For Sale By Owners
What new, scarce, hidden or ‘insider’ information can you bring to the table?
3. Add Advice
Now more than ever you’re going to have to tell clients what you think. You always need to provide your clients all the information and insights possible to help them make an informed decision but when they ask your opinion, you need to put your expertise and reputation on the line. You’ve got the training, the experience and the market knowledge. Tell your clients what you’d do if it were your home.
Over the coming decade, whoever has the strongest ability to create insight from information will be the dominant force in a market. These trailblazers will generate more business, receive more referrals, and build the strongest brands. Master this key differentiator today and start blazing your trail to success.