OC REALTOR® - March/April 2024

By Michelle McCann

Marketing Manager

As a REALTOR®, your ability to communicate your value to potential clients is vital to your success in a competitive market. In a world where buyers and sellers have countless options, clients are looking for more than just someone to facilitate a transaction; they want a knowledgeable and trustworthy advisor who can guide them through one of life's most significant decisions – buying or selling a property. Here are some strategies for effectively communicating your value, educating your potential clients, and navigating the rent vs. buy dilemma.

1. Communicate the Extensive Range of Services You Provide

It’s essential to articulate to your clients and potential clients all the behind-the-scenes work you do on their behalf. From market and property research to coordinating showings, negotiating contracts, and preparing counteroffers and amendments, there is a never-ending list of tasks involved in each real estate transaction. Make sure potential clients understand all the things – big and small – that REALTORS® do to help them have smooth and successful transactions. By communicating the depth of your services, you reinforce your value and build trust with your clients and any potential clients.

Resources:

The National Association of REALTORS® offers a comprehensive list that showcases the extensive range of services and expertise REALTORS® bring to the table throughout the transaction process. This document serves as a useful tool in demonstrating the REALTOR® value: www.ocrealtors.org/range-of-services

As a member of OC REALTORS®, you have access to a variety of free marketing collateral to share, customize, and use to promote the value of yourself as a REALTOR®: www.ocrealtors.org/marketing-tools

1. Educate Your Sphere of Influence

In times when the real estate market is uncertain, the importance of educating your sphere of influence - past clients, friends, family, colleagues, neighbors, and acquaintances - instead of simply “selling” to them becomes even more essential. These individuals have the potential to become clients or refer you to potential clients so educating them on market trends, supply and demand, interest rates, financing options, neighborhood dynamics, economic indicators, and housing forecasts can help dispel any myths they may have about the market or alleviate any buying or selling fears. You as a REALTOR® can provide information, insights, and content through various channels such as social media, email, newsletters, personalized conversations, etc. By educating your sphere of influence, you position yourself as an invaluable resource and provide reassurance in an ever-changing market.

3. Be Prepared to Address Rent vs. Buy

Questions: When potential clients ask your advice on whether to rent or buy, it is crucial to be well prepared to respond with confidence. Understand the financial implications of both options, know what the tax advantages are of buying, and be able to discuss the long-term investment potential of buying versus renting. You should be able to discuss key factors such as mortgage rates, down payment programs, alternative financing, and other lifestyle considerations. By effectively communicating the advantages of buying versus renting, while also analyzing misconceptions, you become the go-to REALTOR® for potential clients that can offer reassurance and clarity during their decision-making process.

Resources:

OC REALTORS® members can utilize our OC Market Snapshots which offers a detailed look at Orange County housing with beautifully designed, local housing market reports drawn from CRMLS; and monthly housing summaries that can be branded and used in listing presentations. Download our variety of shareable market data:www.ocrealtors.org/market-data

In addition to providing market data, REALTORS® can also benefit from opportunities like at our Annual Membership Meeting and Market Forecast on March 25th. This event, featuring ReportsOnHousing.com Economist Steven Thomas, offers insights into the Orange County market forecast. By attending events like these, you gain access to expert analysis, allowing you to stay ahead of market trends and better educate clients and potential clients. Register: www.ocrealtors.org/amm

OC REALTORS® offers courses covering topics such as the mortgage process, down payment assistance programs, VA and first-time buyer programs, and more. These courses allow REALTORS® to enhance their knowledge and skills to communicate more effectively with leads, potential clients, and clients. Register for any one of our 250+ annually-offered classes and webinars: www.ocrealtors.org/catalog .