Goliath Takes a FALL… David wins again!
When competing against Goliath, an agent needs something to make the giant smaller. To bring the Goliath down to size. In our case, we turned to a strategy that is covered in my book, "The Architecture of the Real Estate Practice." We chose to use several strategies together to separate us from the crowd in our home neighborhood of Starwood.
"Industry & Neighborhood Specialization
To win in Starwood, we had to find a way to demonstrate that we were different and superior in the minds of a Prospect. We chose “marketing skill” as a primary differentiating factor.
Using an idea from my prior business experience, I decided to use an industry specialization approach to build our business model and brand us as the Starwood Specialist. Because of this strategy, we secured the domain name, StarwoodHomes.com, and set up email addresses for each of us: Sonny@StarwoodHomes.com and Judi@StarwoodHomes.com. We were active in the HOA (Homeowner Association) and were mailing to and reaching out to the neighborhood in an organized and systematic way.
"Industry & Neighborhood Specialization
To win in Starwood, we had to find a way to demonstrate that we were different and superior in the minds of a Prospect. We chose “marketing skill” as a primary differentiating factor.
Using an idea from my prior business experience, I decided to use an industry specialization approach to build our business model and brand us as the Starwood Specialist. Because of this strategy, we secured the domain name, StarwoodHomes.com, and set up email addresses for each of us: Sonny@StarwoodHomes.com and Judi@StarwoodHomes.com. We were active in the HOA (Homeowner Association) and were mailing to and reaching out to the neighborhood in an organized and systematic way.
However, we needed something more. We had to create a distinct advantage over other agents when interviewing for a listing opportunity within Starwood. The competition was intense, and many were more successful than we were then. They were the Goliath, and we were the smaller David.
Creating the Mini Home Book
There exists a marketing strategy known in the real estate world as the “home book.” This strategy called for the listing agents to create a three-ring binder that included comprehensive information about the home, neighborhood, schools, taxes, etc. It was envisioned that a prospect would sit down and review the Home Book for a particular home while visiting a home. This rarely happened. It was too much information and required too much time for Prospective buyers to review while touring several homes in a day. The Home Book always had “Do Not Remove from Property” boldly printed on its front. Most of the time, this book was poorly designed and looked thrown together and unprofessional. There was little risk of it being taken.”
To stand out, we reimagined the traditional Home Book into what we called the "Mini Home Book." This condensed, visually appealing booklet of about twenty pages, was easy to carry, packed with crucial information, and designed to leave a lasting impression. By focusing on quality over quantity, we ensured prospects could take this valuable resource with them, providing a tangible reminder of their visit and reinforcing our professionalism.
The strategies, detailed in "The Architecture of the Real Estate Practice," can help you bring your own Goliath down to size. Check out my book, "The Architecture of the Real Estate Practice" on Amazon and on my website at RealEstateBook.org
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Link to episode: https://lnkd.in/g_B9AJtR
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