How to beat the discount agents (part 1)

We have all experienced the sudden feeling of challenge and competition that arises when a potential seller announces they are considering hiring a discount operator.

We all have 1% salespeople working in our markets, attracting business with the lure of a cheap commission.

So how do we compete in this environment? How do we establish value and increase our chances of winning the listing, when owners believe they can save thousands by going with the cheaper option?

Here's the key point to remember:

Discount agents are only a problem when owners see us as a commodity.

If owners think we are all a 'much of a much-ness' then of course they will go with the cheapest option.

If our process looks the same as the discount operators, then why should owners pay thousands more to list with us?

If you want to charge more for your services, you need to establish value early and often, and clearly demonstrate what you bring to the table.

I know that's easy to say, and you've probably heard that before. And your next question would logically be - but how do we do that exactly?

Sales managers often go to the extent of shaming salespeople who miss out on listings to discount agents, using phrases like "How did you miss out to that guy??". Rather than providing motivation, this kind of response builds a sense of shame and erodes confidence. And we all know confidence is key when it comes to listing properties effectively.

Heck, deep down inside, you might not even think you are better/different than the discount agents.

How to improve your listing confidence

If you want to turn this ship around and try to ensure you never miss out to discount competitors, then you need to:

• Stop wishing they didn't exist. Because they aren't going anywhere!
• Get better at your craft. Improve your listing process so you walk into every appraisal confident in your abilities.
• Know your points of difference. And be able to articulate them clearly under pressure.

Action step: Brainstorm your top 3 Points of Difference.

Grab a pad and pen right now and write down at least 3 key differences between your service, and that of your competitors. If you can't think of 3 straight away, bring in one of your colleagues and/or your sales manager and brainstorm this together.

If you still can't come up with 3 genuine points of difference, you need to go and make some! Urgently!!

Again, it bears repeating, why should a potential seller pay more for your services if you appear no different from your competitors?

If you can't explain why you are worth more, how on earth are the sellers going to convince themselves they should pay extra to hire you?

Points of Difference menu

Your 3 key points of difference (POD) should sound like this collection of examples: