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Convince Buyers To Sign By Becoming A Suburb Expert

Convince Buyers To Sign By Becoming A Suburb Expert

Convince Buyers To Sign By Becoming A Suburb Expert

As a South African Real Estate Agent who wants to sell more property in 2020, it’s important to consider how you can stand out from property portals and other agents.

Providing buyers with unique insights into the community will help you convince them to choose your listings and keep you top-of-mind when they are giving advice to friends and family.

No amount of deeds data or time on a property portal will tell a potential buyer about back routes to take during the 5pm rush, the incredible chicken briyani at the local North Indian restaurant or how many cute dogs attend the local Park Run every Saturday.

Beyond making you memorable, being active and visible in your community will give you expertise that buyers – and sellers – wouldn’t be able to get anywhere else.

Here’s how you can start becoming a suburb expert today.

Every week: Drive through the area

Here’s a suggestion you might not like – throw yourself into 5pm traffic.

You may think you know your farming area, but do you know it from the perspective of a local?

Does it really take 20 minutes to get into the suburb from the highway? Are there some obvious back-routes that could cut this time in half, or even some regular weekly event that extends it to an hour on Wednesdays?

This is just an example of how you could be providing value other agents can’t, just by getting to know the area a little better. These can include a more realistic sense of traffic patterns, how walkable the area is throughout the day or good times to visit stores or shops.

Every weekend – Live like a local

Going for lunch this weekend? Thinking of attending a Park Run? Do that your farming area.

Peek inside the local gym. Visit the nearby schools. Chat to the business owners, community members and security guards in the area. The things you learn will play a huge role in your prospects experience in that area, and there’s very few technologies or agents who would be able to offer them the same insights.

How do you find how much a house sold for? How do you find comparable home sales in your area? 

Apart from buying a Desktop Property Valuation Report, that comes down to local knowledge and asking questions. By embedding yourself in your community, you can get this information for free.

Becoming a suburb expert is about getting the kind of insights buyers – and sellers – won’t be able to find anywhere else (having unique value) but also making a powerful impression through your visibility in the area and unique knowledge.

Every other day – Brand yourself as an active community member.

By following the advice above, you should start developing a sense of the community events that take place in your suburb. These might include things like Park Runs, weekend markets and popular weekend specials that draw people from the suburb.

Attending and being visible at these events will really establish you as a member of that community and connect you with the suburb in the minds of those who live there. You won’t need to take on important roles or become deeply involved in any of these events, just be there often enough to start being recognised.

These are also great opportunities for you to meet and connect with community members, whether they’re service providers you can connect potential buyers with or individuals who could give you insights about the suburb, such as how walkable different areas are and good places to eat or get away for a weekend.

In Summary

The more time you spend in the suburb and the more people you speak to, the more unique insights and value you will be able to share with your prospective buyers. You will also be become more visible and memorable to the homeowners in your area, something that should be a priority for any agent who wants to be top-of-mind in their suburbs.

 

Interested in finding serious buyers?

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How To Get More Listings from Past Clients

How To Get More Listings from Past Clients

Repeat customers are great. They refer more often and they’re less likely to try pay less than your asking price. It’s also easier (and cheaper) to maintain client relationships than it is to consistently acquire new customers. Here’s how you can make the most of your past clients.

How to Speak About Scarcity to Negotiate Better Deals and Sell Faster

How to Speak About Scarcity to Negotiate Better Deals and Sell Faster

How to Speak About Scarcity to Negotiate Better Deals and Sell Faster

Scarcity is very real in South African Real Estate, and you can use this to create urgency in prospective buyers, negotiate better deals and sell faster. Present yourself, your listings and your offers as limited and valuable, an opportunity not to be missed and that must be acted on quickly.

The Reality of Scarcity

People hate missing out on a good opportunity. Scarcity is compelling to us because it frames an opportunity as valuable and fleeting, something that needs to be taken advantage of quickly to avoid missing out on the value it offers.

Every suburb only has a certain number of houses and great buying opportunities don’t last long. Buyers typically understand this, but by reminding them you can initiate greater urgency in them. This will put you in a great position to negotiate favourable deals and sell faster.

Here are some great ways to initiate urgency in buyers using real examples of scarcity:

  • If a house has unique features, make this clear. We typically think of things like fireplaces or a swimming pool but this could include additional storage, intelligent lighting or even the shape of the house. Think about what distinguishes a home from others and frame this in terms of its scarcity.
  • If a house usually sells in two months, make sure you’re letting buyers know to act fast after the first month.
  • If you’re selling the only house – or one of very few houses – currently available in a neighborhood, let buyers know that this will be their only chance to get into the area for some time.
  • Think about the seasonal opportunities in your area, like fluctuating house prices or greater buyer interest at different times of the year. Mention the benefits of buying now that won’t be available year- round.
  • Another strategy could be scheduling listings back-to-back. This clearly and powerfully shows potential buyers that the listing is in demand and may not be available for very long.

 Artificial scarcity

You can make use of the compelling power of scarcity by creating your own valuable but short-lived opportunities. 

Offer limited promotions or services. For example, you could attract referrals by letting your clients know that you are offering discounted services or free property valuations to your next three clients.

Your focus should be on offering something of value that won’t be available for long, something that will compel your prospects to act quickly.

 The language of scarcity

You won’t be able to make use of scarcity – real or artificial – if your prospects don’t understand the value they will be missing out on. 

Make sure your prospect understands the benefits they stand to gain by acting now. 

  • Spend some time noting down all the elements of a listing / opportunity that you could frame as scarce. You will need to do some research and be prepared to bring these points up in conversation.
  • Use terms like ‘Unique property’ and ‘Limited Availability’.
  • Highlight the possibly urgent consequences for prospect delaying the process of selling or buying.

In Summary

  • Present the scarcity of a home’s features, how quickly homes in the area tend to sell, the limited listings in an area and other elements as short-lived but valuable opportunities that your prospects need to act on quickly to get the benefits.
  • Stimulate urgency in your prospects by creating your own limited offers.
  • Make the scarcity you are trying to communicate as visible to your prospects as possible by preparing some examples of scarcity and using clear language that gets across the value of short-lived opportunities.

Interested in Earning More Commission?

Read how this Estate Agent generated additional revenue by employing a strategy that saw her cold calls actually being answered.

Reach more buyers and sellers and generate additional revenue from past clients using email marketing. (Coming Soon!)

How To Get More Listings from Past Clients

How To Get More Listings from Past Clients

Repeat customers are great. They refer more often and they’re less likely to try pay less than your asking price. It’s also easier (and cheaper) to maintain client relationships than it is to consistently acquire new customers. Here’s how you can make the most of your past clients.

How to Use Reciprocity to Close More Deals

How to Use Reciprocity to Close More Deals

How to Use Reciprocity to Close More Deals

The point of reciprocity is not to shower your prospects with all the gifts you can afford, waiting for the opportunity to capitalise on them. You should think of reciprocity as a handful of daily practices – being generous with your time, offering real value when it’s needed – that will help build your reputation and likability over time, something that will persuade people to work with you and help you close more deals.

Give and ye shall receive

“We all like to return favours. Most people got it all backwards thinking it means if you will do this for us, then we will do something for you…that’s wrong.” – Robert Cialdini, author of Influence: The Psychology of Persuasion. 

People respond to feeling appreciated or looked-out for. Cialdini suggests that people have an in-built desire to repay their debts, something that makes them very sensitive to things like gifts, special treatment and being given something of value.

So how can we apply this to the work of a South African real estate agent?

Be generous with your time to close more deals.

Fortunately, the best way to develop reciprocity is also the cheapest. Giving your time freely and unconditionally is the clearest investment you can make in your sellers. 

Make sure you have enough time during any call or meeting to have a casual conversation where you can answer questions or otherwise offer yourself to your client or prospect.

The same goes for viewings. Arriving early, bringing water or snacks or preparing your presentation all contribute to how prospective sellers will think about you.

The point of reciprocity is to get your prospects to respond to your actions. Being generous with your time, through preparation and your attitude to calls and meetings, is a gift that people will respond to because it is a powerful indicator of the effort you are putting in to them.

It also can’t be faked or rushed, broadcasting to prospective sellers that you are thinking about them even when they aren’t thinking of you. 

Invest in high-quality, low-cost resources.

You don’t need a high-value gift in order to make use of reciprocity. Far more important is the simple act of making prospective sellers feel appreciated. Focus on the act rather than the gift

Low-cost gifts or resources with a high impact might include:

  • Paying the bill when you have meetings in coffee shops.
  • Travelling to sellers for meetings.
  • ‘Thank you’ cards.
  • Trinkets – Mints, pens, notepads etc.
  • Water or snacks at viewings.

Offer a high-value resource

To really make an impression, consider offering one or two high-value resources. These don’t have to cost much and may not have to cost anything. You could even turn a low-cost resource into a high-value one by offering it regularly.

These high-value offerings are your opportunity to set yourself apart by truly offering value to your clients. If you offer a great weekly property resource to your clients, it’s also likely that other property sellers will hear about it.

Consider offering to assess your client’s paperwork, insurance etc. If you have skills or information that would be of use to your clients, offering it will help you establish yourself as a helpful and potentially invaluable resource.

Alternatively you could assist them with the logistics or costs related to moving, home inspection services or any other aspect of their experience that you could assist them with. 

In summary

  • Giving your time freely and unconditionally is the clearest investment you can make in your clients. It also can’t be faked or rushed, broadcasting to your clients and prospects that you are thinking about them even when they aren’t thinking of you.
  • Focus on the act, rather than the gift. Building reciprocity is all about client relationship management. Use gifts or resources to build on your relationships with clients and prospects.
  • To really make an impression, consider offering one or two high-value resources. Set yourself apart by truly offering value to your clients.

Interested in starting and closing more deals?

Learn how Bonni uses reciprocity on a seller’s most important day in order to secure more mandates.

Reach more buyers and sellers with relevant messages using email marketing.
(Fill in this form and get it first!)

How To Get More Listings from Past Clients

How To Get More Listings from Past Clients

Repeat customers are great. They refer more often and they’re less likely to try pay less than your asking price. It’s also easier (and cheaper) to maintain client relationships than it is to consistently acquire new customers. Here’s how you can make the most of your past clients.