Should you Compete or Dominate in the Real Estate Industry?
Each month I write a short newsletter for our agents at Your Home Sold Guaranteed Realty around the topic of POSITIONING, but maybe you don’t know why I dedicate a whole newsletter to this ONE topic monthly. Let me explain and use Disney to help make the point.
When you get your real estate license and jump into being a real estate agent, the first thing you do is look around at what everyone else is doing and copy them. The problem is that we are copying the wrong people, as you have heard Craig Proctor and I say time and time again. This kind of copying is essentially programming. You and I are being programmed to think, act and be a certain way. We call those certain ways NORMS and STANDARDS. Part of those norms and standards would be the word COMPETE.
We are conditioned to compete and co-op with agents. When you look at other industries though you see companies that dominate their space. These businesses do not seem to be interested in competing and co-oping. Let’s take Disney. Yes, Disney has competition, but the reality is they dominate.
I write this letter each month for our agents at Your Home Sold Guaranteed Realty to give them tips, strategies and guidance on DOMINATING the market space. Dominating is being in a position above your competition, not by being better, but by being different. Different is better than better.
It is very difficult to be different hanging around, learning from and pretty much doing what, everyone else (the majority) is doing. Over my 30 years in real estate I have learned what this means. My hope is that you will too. Many reading this are getting it. Ex. Your Home Sold Guaranteed or I’ll Buy It. Those words are automatic POSITIONING for our agents. But, I watch as agents use them as a post script like:
Todd Walters, REMAX – P.S. Your Home Sold Guaranteed or I’ll Buy It.
When in reality it should be the other way around: Your Home Sold Guaranteed or I’ll Buy It. Todd Walters. REMAX.
Why do so many agents, even in our system, get this simple positioning tactic wrong? Well, I just told you why in the first sentence in the paragraph above and in the second paragraph above (programming).
I recall when I was selling 400-500 homes a year in my space, my next closest competitor was around 75. The third person was 50. Then everyone else bunched up between 0 – 30. Now that is what I would call DOMINATING.
Positioning IS so important to me, that I took those words and made them the Brokerage Name. What does that lead to? DOMINATION. Even pirates who want to tell themselves that those words (Your Home Sold Guaranteed) are public domain and not intellectual property of Craig Proctor, have a difficult time now promoting MY company. Yes… very shrewd move on my part. But I’m not here to compete. I’m here to… dominate. Otherwise… why do it at all?
I’m not trying to sell you on conversion of your real estate brokerage name (FYI – the license to do that is a benefit Craig Proctor and I made exclusively for Titanium Members) I am trying to get you to see it’s simply easier to dominate by being different.
Why is it that Disney can dominate and all others chase them, trying to compete? Well, IDK exactly, but what I do know is that they do and I would be smart to examine their uniqueness and exclusiveness and see where I can apply that in my business. I encourage YOU to do the same.
Here are 3 things Disney does well that you can apply to your business.
1. Pay attention to detail. Disney is known for its incredible Service and attention to detail such as how clean and fresh the Parks look each day. They do this by doing paint touch ups all throughout the park in pain based on whether, humidity, temperature, what time they can paint it so the birds don’t land on it scratch it and so one.
How can you increase the level of detail in your business? Pay attention to even the smallest details.
2. Storytelling. Disney is a storytelling company and goes to great links. In Epcot, there is a 6 inch statue of a little man sitting on top of the rooster on top of the Chinese restaurant. This is the third century Emperor Ming who was an extremely cruel Emperor and died by hanging himself from a tree. Chinese culture put this guy up on top to ward away evil spirits. Most people will never notice this tiny six-inch statute. However, Disney creates this whole backstory for the people who do notice. Nothing is unintentional. Everything Disney does as a backstory.
What back stories can you tell in your business, create a story about your business.
3. Create a complete WOW experience. The intentional level of attention to detail and storytelling blows people’s minds. Many of our great members implement Disney-like Service in their business. They do things their competitors don’t copy because their competitors are simply too lazy. Craig Proctor introduced us to the concept of a full-time customer service manager who calls clients weekly ensuring WOW service. While most agents will use some automated or 3rd party feedback loop, our top members have a Customer Service Manager or Wow Coordinator whose job is to know the first mile and go the second mile for clients.
What can you introduce in your business that will wow your customers and your competitors will be too lazy to copy? Test things to find ways to create a complete customer experience.
Go Serve Big!!!
Millionaire Agent Maker
Your Home Sold Guaranteed Realty
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