Your competition is hardwired to avoid failure. Because of this, most agents use vague platitudes in their real estate marketing strategies. They promise “honesty,” “integrity,” or to be “by your side every step of the way.” However, the consumer knows these agents have no real skin in the game. To scale, you must make bold promises that your competition is too afraid to match.
The Asymmetrical Risk Advantage
Most of us were taught never to make a promise we cannot keep. While that is a sign of high character, it often holds business owners back from making the “Backstop Offers” that consumers crave. Look at Alaska Airlines: they promise your bags in 30 minutes, or you get points. Similarly, you should offer a guarantee with a specific consequence.
If a buyer is afraid of losing money on an inspection, what if you offered to pay for their second inspection if the first deal falls through? Statistically, only about 15% of deals fail on the buyer’s end. Therefore, the cost of paying for an occasional inspection is a small price to pay for the massive influx of new clients attracted by such a bold offer.
Creative Guarantees That Win Listings
You don’t have to buy every home to have a powerful real estate marketing strategy. You just need to think outside the box. Consider these examples:
- The Communication Guarantee: “If you don’t hear from us every Tuesday by 5:00 PM, we reduce our commission by $200.”
- The Commission-to-Price Match: “I guarantee to price your home perfectly. If it sells for less than our triangulated price, I will adjust my fee.”
- The Marketing Proof: Offer a $500 gift card to a local steakhouse if the home isn’t under contract within 60 days.
When you make these offers, you aren’t just selling a service; you are demonstrating your innovative thinking. Specifically, a seller believes that if you are creative enough to market yourself this way, you will be just as creative when it comes to marketing their home.
Be Bold, Be Innovative, Be Preeminent
Companies like Les Schwab became legends by offering “free beef” or roadside assistance on tires. While it may seem gimmicky to some, it creates a “no-brainer” decision for the consumer. If two teams charge the same commission, but one offers a performance guarantee and a backstop for expenses, who will the client choose? In conclusion, your bold marketing is a demonstration of your prowess. By over-promising (and over-delivering), you separate yourself from the “sea of sameness” in the industry. Stop being safe and start being preeminent. When you take on the risk for the consumer, they will line up at your door to work with you.