Consumers do not always choose the cheapest price for everything they buy.
If that were true, we would all buy our clothes at Goodwill and garage sales, dine at McDonald's, and drive Chevrolet Sparks.
Instead, people COMPARE QUALITY and make purchase decisions based on VALUE. If a seller tells you they want to list their home with the agent with the lowest fees, they are going against normal behavior by ignoring the value story.
The value story is what you bring to the table to benefit them that nobody else offers. It's your secret sauce that no other agent can duplicate.
It makes you who you are as a unique and special real estate agent.
It's what makes you a Really Awesome Real Estate Agent.
I know what some of you are thinking..." But Dennis, I shared my value story, and they still picked the lowest fee agent."
▶️ That's what they told you, but that is not what really happened.
It happened because you failed to differentiate your services from those of other agents, and another agent offered the same "perceived" services for a lower fee.
You see, if there is no difference in the product or service, and the value is the same, people will always opt for the lowest price.
Why wouldn't they?
✅ But there is ALWAYS a difference.
And you must exploit those differences as the foundation of your personal value story.
It's the only way to justify a higher fee for your services.
Here are three examples to differentiate and exploit your personal value to a potential seller:
1️⃣ "Over the last year, the homes I have listed for sale received an acceptable offer within 15 days. That's 10 days faster than all other homes sold in your neighborhood."
2️⃣ "This year, my listings have sold for an average of 98.8% of the original asking price. That's 2.5% higher than the average in your zip code. Based on the price of your home, you are thousands of dollars ahead with me even with my higher fee."
3️⃣ "My listing fee includes professional photography, drone photography and video, staging recommendations, free landscape clean-up, and whole-house cleaning (including windows!) before I put your home on the market. I want your home to look great so I can sell it for the highest possible price."
I've lived in the same neighborhood for 23 years. Over that time, there have been two low-cost, flat-fee real estate brokerages open up shop in the heart of the town.
Neither one of those brokerages are in business today because people do not make their decisions solely on price!
Build your value proposition with services and benefits only you can provide. That way, comparing your fee to another agent or brokerage will be nearly impossible.
And if people do compare...you will win because of the value story you provide.