There is one thing of which I am completely certain. To be successful in real estate today agents must position themselves as true competitors. That starts with knowing all the facts about your competition. That's known as product knowledge. It's as though competition has become a product of its own.

If I have any attribute at all, it would be observance. Being able to listen to and understand the questions people are asking at any given time and to hear in their comments and conversations, to see in their performance, to discern from their answers and to dissect what they believe to be the changes occurring in real estate today. And, in my opinion, the vast majority of what real estate agents need to do to be successful in real estate today hasn't changed much.

In addition, the tasks a company must perform to be successful in real estate today have not changed. If things have changed, then the tools have changed and the bar's been raised. Allow me to illustrate the point. To be successful in real estate the formula is exactly the same.

Inventory is still the name of the game

Obviously to get listings an agent must make contacts, find leads and schedule appointments. That hasn't changed. What may be different are the leads that are contacted.

Leads are more centered around a referral relationship today than ever before. Because of the public's access to the Internet, they are closer than ever to lots of agents. In order for an agent to differentiate him/her self from the crowd, they must be positioned as an advocate of the seller and build a strong relationship with that seller; a relationship that lasts long after the transaction is finalized.

On the listing appointment the tool that differentiates one agent from the next might be their notebook-computer presentation. Perhaps the other agent is still using a "flip-chart-type" presentation and the seller is "techno-savvy" enough as to find one agent out of touch with the simplest technology. The seller's expectations are out of sync with the other agent's methods of doing business. Sometimes that's all that it takes to have one agent take the listing over the closest competitor.

Simply put, the process for getting the listing has not changed. It still requires the same selling skills as ever before, perhaps more. However, the tools the agent may need to be successful on the listing appointment have changed.

You have to separate lookers from buyers.

We have to separate suspects from people with realistic, real estate needs. Certainly this requires scheduling an office visit with the buyer and qualifying the buyer to determine not only wants and needs, but also their urgency level. That absolutely has not changed. However, a tool that might be used far more today than in the past, is a Buyer-Agency Contract.

This is due once again to the effect that the Internet has had on the industry. Buyers are able to "shop" for their home on the net. (As an aside, I believe that for many years to come buyers and sellers will still need agents to price, negotiate and to coordinate property sales on their behalf.) The buyer agreement helps to ensure that the buyer has real motivation and urgency in finding the right house, at the right price, in the right amount of time. Motivated buyers are far more apt to sign an agreement with an agent they trust and with whom they can relate. That's the power of building a relationship.

Focus on selling in-house inventory, first.

This is as important today as ever before. The agent controls, with ease, the negotiating process, and there are obvious financial benefits to the company. In addition, the company that sells more of their in-house inventory than their competitors demonstrates to their sellers that they are highly valuable to the company. It communicates to the seller that special care is given to them in the marketing and promotion of their home. That is a strong listing advantage when an agent is up against a competitor who cannot honestly make the same claim.

Be competitive.

The "bar's" been raised. Agents have to be more competitive in order to directly compete when they're face-to-face with a seller or buyer and with other companies in their marketplace. The competition is like I've never seen it before; tougher and harder to eliminate. This is the result of mergers and acquisitions. No matter where you look everyone is advertising that they are number one at something, tops at something, best at something - If the real estate agent of today were to do one thing to improve their hit ratio, it would be to become a strong competitor.

Remember that you are never as good as when you are learning to be better.

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