In the face of so much rapid change and an often-frustrating lack of clarity from The Powers That Be, what the heck are you supposed to tell your buyers and sellers now?
May is Commission and Compensation Month here at Inman. We’ll sort through the noise and misinformation and provide you with the most up-to-date facts and strategies about how to prosper in the wake of the commission settlements. And look for straight-to-your inbox updates with Inman’s new weekly digest, Commission Chronicles.
Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: In the face of so much rapid change and an often-frustrating lack of clarity from The Powers That Be, what the heck are you supposed to tell your buyers and sellers now?
“I have some listing agents in my company — 35 years in the business, $40, $50, $60 million a year in homes sold — that said to me: ‘What am I supposed to tell the client?’” broker Anthony Lamacchia said during a panel discussion at NAR’s midyear legislative conference.
What followed was a case study in confusion, tension and the wide variety of perspectives that have characterized the past few months for real estate professionals. Don’t miss Andrea V. Brambila’s play-by-play of this real estate rhubarb here:
EXTRA: What should I tell clients? Question leads to free-for-all at NAR midyear
The reality, of course, is that this is one of those “I am Spartacus” moments where we all share similar feelings to the ones Lamacchia described. What the heck are we supposed to say to clients, leads and even friends and neighbors who ask us what’s going on in our industry? How are we supposed to talk about buyer-broker agreements we haven’t even seen in their final form? How can we be the experts in our field when things are changing from day to day, or even hour to hour?
Well, you’re an Inman reader, so that’s a good start. That means you’re keeping up with the changes and learning the latest in real time. You’re (hopefully) working with a broker, coach or mastermind group and planning to attend an upcoming industry event to process these changes and ensure that you’re up to speed on how they apply specifically to your market and your business.
EXTRA: Inman Commission Chronicles newsletter
The next step? Learning to communicate those changes to others. Whether you’re a broker recruiting, training and onboarding agents; an agent educating your SOI; or a team leader helping to craft messaging for everyone, we’ve got the marketing expertise you need to translate your new knowledge into content that delivers.
While you’re figuring out how to navigate changes in the post-commission-lawsuit world, you’re also fighting misinformation and client concerns around transactions and compensation. According to an Inman-Dig Insights consumer survey published in April, while consumers recognize the value agents bring, they’re increasingly open to exploring alternative commission models. This means agents can’t rely on the status quo.
For some time now we’ve been saying that the new normal will bring with it a need for agents to convince buyers and sellers of their value. Right now, that means getting educated — and passing that education on to the consumer through a well-developed content marketing strategy.
Ready to transform the way you communicate your value to clients? Marketing expert Marci James helps you double down on marketing that clearly conveys your unique expertise, problem-solving skills, and the exceptional client experience that you deliver. “Agents who adapt will not only survive but thrive by positioning themselves as experts in this evolving market,” James writes.
Listen, we get it. You want practical, actionable strategies that help you talk to consumers and clients right now. Fortunately, that’s what we’re all about.
Here’s just some of the marketing-related content you may have missed last week while you were doing a million other things to get ready for the road ahead.
How to engage brokerage clients through SEO and content creation
Unique, engaging and highly specific content can make you a trusted resource for buyers and sellers locally and regionally, Chicago broker David Marden writes.
EXTRA: UWM’s controversial mortgage site now an official NBA
5 real estate marketing campaigns that don’t cost a thing
Gaining traction in your market isn’t solely based on budget, The Agency’s Rainy Hake Austin writes. Prioritize creativity, authenticity, strategic thinking and these free marketing ideas.
EXTRA: Marketing listings through qualified buyer financing
Avoid these top 5 rookie mistakes in real estate
From neglecting digital platforms to disregarding personal branding, Side’s Manny Solis writes, here are five critical rookie mistakes that often derail real estate marketing campaigns.
EXTRA: Keeping it real: How to showcase your unique value on social media