Knowledge Marketing for Real Estate & Mortgage NichesApr 24, 2023
I start off my classes to mortgage and real estate professionals by asking these specific questions because I think it is important to be in the proper mindset when learning about any new topic or niche. My belief is that it helps you not only absorb the material but it opens your mind to seeing the bigger picture and how you can implement the new material as you progress through it rather than trying to wrap it all up at the end.
So, the first question I like to ask is this: “When you take a step back and really look at your current business model and business plan, can you make the distinction as to whether you are in the business of closing transactions or are you in the business of helping people?”
One theory is transactional while the other is relational.
- If you are focused on the number of closings you need to make ends meet – you are transactional.
- If you run your business focused on helping people – you are relational.
Statistics show that when you have a business mindset that is relational and focused on helping people, you will in fact close more loans and/or real estate sales at the end of the day.
Relationships are like annuities – they keep a stream of referrals coming in at all times and require attention and care. Transactions are basically the ‘one and done’ concept. Transactional mortgage and real estate professionals must constantly be making new connections because they do not focus on building relationships that will keep feeding them.
Next question: Do you see yourself as an Innovator or a Competitor? Here’s the difference.
Competitors want everything on a level playing field. They don’t want anyone else in their market to have a better
marketing tool for listings or a better first time homebuyer program. They want the same tools and methods as everyone else.
Innovators want to be different. They want to stand out from the crowd and be known for something that differentiates themselves from the competition.
For example, working with divorcing clients is a great way to become known as the innovator in your market place. I joke when presenting live classes to real estate and divorce related professionals that by the end of the class, they will think of me as having the word “Divorce” stamped across my forehead. I don’t have a problem with that because in a very competitive market, you need to be the first person your referral partners and/or sphere of influence thinks of in special situations, like divorce and real estate. This allows you to get your foot in the door that might otherwise be closed to the simple competitor.
Think of it as your Perception of Value. Perceived customer value is a concept that points out specific benefits that a customer believes you bring to them directly through your relationship with them as well as how they will benefit from doing business with you.
There is a difference between “Perceived Value” and “Actual Value”. The actual value is a measure related to cost, whereas perceived value is what your client believes your services are worth. As a mortgage or real estate professional – have you given thought as to how you want your clients to perceive the value of your services? Have you given any thought as to how the perceived value of your strategic business partners transfer over to YOUR perceived value in your client’s eyes?
Niche Marketing for real estate and mortgage professionals can be a true game changer for building your business. The learning never ends!
Visit. www.jodybruns.com for more niche marketing and intentionally building your business through knowledge marketing.
Visit www.jodybruns.com for more niche marketing and intentionally building your business through knowledge marketing.
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