Why Status Sells
Most agents, especially early on, are taught to chase business vs. attract it. Sales advice is filled with platitudes such as “get your name out there” or “hand out as many business cards as possible.” Neither of which positions you as a must-have expert in your industry.
In today’s competitive and saturated real estate business, there’s never been a more important time to have a personal brand status. As a former business professor, I’m confident in saying there weren’t many classes during the schooling process that helped you position and grow your personal brand.
I believe that money follows attention and that status sells.
Statistics tell us buyers use the first person they talk to 67 percent of the time. This is marketing 101 to be the first conversation. The number one challenge small business owners have is overcoming obscurity meaning not enough people uniquely know who you are or how you can help.
When I first moved to Denver to launch my own business I knew exactly nobody in my target markets. However, through these five universal practices I believe any person can develop a status in any market to establish a brand. It’s nobody else’s responsibility but our own to generate more attention for us and our business.
The first exercise we have people do to measure their status is to track incoming demand on a weekly basis. If nobody is reaching out to you about your time, energy, or resources then what is the market telling us? That our business simply isn’t very attractive right now. Here’s the good news, we can work on it!
Here are the 5-steps to help you build your status:
- Develop a world-class opportunity statement and market it EVERYWHERE
- Get Proximity to Prosper (Target Markets & Influencers)
- Think “mini-celebrity” for you, your business, and brand (have fun with it)
- Have style but also have SUBSTANCE (must have service to drive referrals)
- Purpose of building a status is to help more people by becoming a person of influence
Throughout our first four weeks of the program we’ve focused on your opportunity statement, going into attack mode through a lead generation system, being disciplined through the follow-up “with value”, and packaging up your “free prize” or what makes you different.
Once we have these components in place then it’s time to elevate your status by becoming a person of interest and ultimately becoming a person of influence who impacts through your services. The reality is there are a lot of amateurs out there in our industries and it’s our DUTY to protect the integrity of our service so they don’t become commoditized past the point of repair.
If motivated buyers use the first person they talk to 67% of the time in real estate it’s our job to drive up the probability of being that first conversation. This is through our daily income-producing activities and person of influence activities. You have the plan in place now give yourself permission to go execute and have fun with your business.