Now on to our real estate investor education section...
Value Matching - Selling What Matters Most
There is a new trend hitting America that every real estate professional and short sale investor should use to their advantage; getting back to basics. You've seen the credit card commercials with feel good family values that claim conspicuous consumption is dead or the big box stores touting stay-cation's rather than expensive European getaways....but how can you make it work for real estate?
It's simple once you understand the basics about value matching. Keep reading to learn more:
1. Don't Pigeonhole. Value matching is not about putting labels on people; in fact, that is a sure-fire way to fail. Instead, it is about learning what values are important to your target population then meeting their needs by providing the best "fit" possible. Real estate is one of the most important investments most people will make during their lifetime. Aside from the large dollar amount, it is often a critical decision which will define the future of their family and social standing for years to come.
2. Listen. Value matching requires the ability to listen in order to understand the needs, hopes and desires of the buyer (or seller). It's imperative to find out what matters most to each client then sell those factors - forget about the typical trappings of success (unless that is indeed what matters most to your client) and instead focus on what they value most. The typical family will fall into several distinct categories including:
* Family - Young married couples searching for safe, affordable family oriented neighborhoods. Schools, cost, local amenities like parks and safety take top priority.
* Empty Nester's - Convenience typically trumps everything else. Low maintenance yards, access to hospitals/grocery/shopping/golf and good neighbors get their attention.
* Sanctuary - Freedom, privacy and safety is of utmost concern for some; don't be too quick to put a label since these come in all shapes and sizes. From high net worth individuals seeking solitude to good-ole-boys that want to practice commando moves in their back yard, those seeking safety and privacy will pay a premium for the right property.
3. Build Relationships - The future will require the ability to build meaningful relationships even for temporary transactions like those of real estate. Trust has become a bigger issue than ever as people feel uncertain about whether or not they are getting a good deal or will encounter trouble later down the road. Word of mouth marketing has always been a real estate agents best friend but now, investors are recognizing the benefits as well.
4. Position as a Problem Solver - Become more than a sale person or investor by positioning yourself as a problem solver with solutions to people's most urgent housing related needs. People have an inherent need to feel unique and a growing grudge about paying for simple 'paper shuffling'. On the other hand, everyone is grateful when someone solves their most pressing problem...even if the cost is higher. Remember, its part of the value you bring to the table during any transaction.
See you at the top! Make sure to read Sunday's blog, we are ready to rock and roll.
" No one changes Anything, without risking Everything"