The only thing bad about a HOT real estate market is the fact that almost everyone decides, “You know what, I think I’ll get my real estate license and sell me some houses.” The next thing you know people who were selling sandwiches at the deli are now trying to sell condos in your territory. This presents a serious concern but not to worry here’s all you need to do when it seems like everyone is competing with you:
#1 – SpecializeOne thing for sure that newbie real estate agent won’t have is deep experience in a particular niche. Their “generalist” experience and lack of expertise is your opportunity to shine. This is why it’s more important than ever to focus your career development on mastering a sub-sector of your market. For example:
- A particular zip code or neighborhood.
- A specific type of property like beach rentals or mountain cottages.
- A specific type of client like investors or military families.
#2 – Be UniqueWhenever the topic of competition comes up people are always worried about what their competitors are doing while forgetting it’s what THEY need to do that will make the difference. One way to separate yourself from the crowd is to offer training events or workshops that connect with the public in a meaningful way. This can also be done online and with consistency before you know it you will develop a reputation that no newbie can walk in and compete with.
#3 – Leverage the InternetThe biggest difference between a professional and an amateur in any industry is their knowledge of and use of the best tools for the job. Real pro’s know what tool to use and how to use it while amateurs have no clue what to do as they’re still trying to “figure it all out”. Here’s how to leverage the internet:
- Get an elite website. Having your own domain name and email separates you from “newbie” agents who are still contacting their clients with their “aol” email, “lol”.
- Use Video. If a picture is worth a thousand words how much is a 5 minute video walk through of your latest listing on YouTube worth?
- Integrate social media. Use your blog as the source of quality useful information and share your posts on social media. This will establish your BRAND, further separating you from your newbie competitors.