Yesterday I spoke on the phone to a very impressive agent named Flora A. I’ve withheld her last name because I don’t have her permission to share it. Flora practices real estate in the San Jose, California market and as a listing agent she was very interested in learning more about my listing approach.
She is a long-time reader and has followed my blog and was asking me some questions about my 8% listing presentation and wanted my recommendation on which of my books might help her. I mentioned two: The Ultimate Listing Presentation and The NEW Ultimate Listing Presentation, both currently available for instant download in my blog bookstore.
Over the years I’ve spoken to literally thousands of agents from all over the world. I’ve heard about all sorts of interesting practices and have learned a lot from you my readers. It is rare when I am totally taken by surprise by someone but yesterday, Flora totally surprised me.
You’ve read my preaching on the importance of having a USP (unique selling proposition) or something that sets you apart from the crowd.
There are currently over a million REALTORS®, not to mention another million or so licensed real estate agents who are not members of the National Association of REALTORS®. Add to those all the unlicensed builder reps, property flippers, rent-to-own gurus, and FSBO experts, and you have a sea of people trying to practice real estate.
So what makes you different? Why should anyone do business with you? Well, if you are going to be successful in this business (or any other, for that matter), you must have a USP. Become the best at condos, retirement properties, golf properties, the best listing agent, the best at whatever! It’s just critical that you become the very best agent in some niche. That gives you a unique selling proposition.
Well Flora is a walking example of that concept. She is a Probate Real Estate specialist! Until yesterday I didn’t even know there was such a thing. As I began to ponder it I realized it is brilliant! Think about it. You have few agents, if any, competing with you, and clients that are seriously motivated sellers that are rarely lacking the equity to close. They all want to sell, and they want to sell now. Most cannot wait to cash their proceeds checks. Since they didn’t typically work to build the equity but rather are inheriting it, they are much more open to selling the home.
Put that niche along with my listing approach and you have a potentially very lucrative real estate practice. Houses that will sell, motivated and yet not emotionally involved sellers with lots of equity or completely paid off houses and a higher than market commission! It doesn’t get much better than that! Thank you Flora for such a great example of a USP. I love it!