How do I position myself in the way of the Market?
My all time million-pound estate agency question, which I constantly asked myself while working as an Agent for 13 years and leading other Agents and business owners during the following eight years, was ‘How do I position myself in the way of the Market?’ It has all got to do with mindshare and basic consumer behaviour.
What does the Seller Journey look like? What does the Buyer journey look like? These are another two great questions to ask, but before assuming the answer is known, do a bit of research; this is a great way to have a valid reason to talk to your Databank – ask questions.
When Mr and Mrs Buyer, or Mr and Mrs Seller wake up one morning and start having the conversation of moving/relocating/upscaling/downscaling/etc., ‘How do they have this conversation? What do they consider, think about, talk about? What do they do first, second, next and after that? What does their journey look like?’ Turning these thoughts into a series of actions becomes their buyer or seller journey. Do they meet you or come into contact with you along the way?
Mr and Ms Consumer either know you, or they do not know you. Either way, are you within their language and is your name and reputation on their tongue – probably not – and initially, statistically at least, you are not.
The Buyer/Seller Journey is predictable, just like everything else in our profession of estate agency. This is a journey that they do not go on every day or every week. This journey, which is not often taken (once every 5 to 20 years), starts with them asking more questions than taking comfortable and all–knowing action. When most people ask questions nowadays, they Google it or reach out to Social Media groups of ‘Friends and connections’ and ask for popular opinion. Believe it or not, they often blindly follow popular belief. Are you ‘the popular opinion’?
Page 134 of the MREA highlights the value of ‘Investing in yourself’ through marketing your name and presence within your marketplace and; further highlights that statistically, an average of 86.5% of all sellers and buyers only have room in their minds for 1 or 2 agents. Are you number 1 or 2 in your marketplace when it comes to mindshare?
Understand the Seller and Buyer Journey in your marketplace, identify key milestones within each journey’s early path, and position yourself loud and proud there. The MREA goes on to invite you to ‘Play the Numbers Game’ with a combination of quality and quantity of leads and to remember that the octane of your fuel will not get you there without sufficient fuel. Top agents prove time and time again that the consistency and frequency of your message wins over any other strategy.
I invite you to write down, through research, what are the main questions buyers and sellers ask at key milestones in the early journey. Now position yourself as the authority with the answers before they ask those questions.
Regional Development Director, KWUK