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To be a superstar broker, learn to love your market

Mar 7, 2017

winter-view-557650-edited.jpegTelling a compelling market story is a crucial part of being a good salesperson. That’s because you start gaining your prospective client’s trust by demonstrating your knowledge of their property and story, but you gain their respect by demonstrating your knowledge of the surrounding market.

But to take your sales skills to the next level, you need to go beyond that.

Not just facts and figures

To create a market story that draws people in, you have to know your market first. But maybe that’s the wrong way to put it.

When we say “know your market,” we bet you immediately start thinking of the hard facts: demographics, rental rates, traffic patterns. Things you can measure. And those things are important, but they don’t quite capture everything. For a powerful story, you'll need more than just a list of facts and figures.

So maybe we should put it differently: Love your market. Yes, we said it. Try it. Love it.

And loving your market means caring about more than just those measurable parts.

What a classic children’s story can teach you about marketing

Do you remember reading The Little Prince when you were young? If so, you might recognize this passage:

“Grown-ups like numbers. When you tell them about a new friend, they never ask questions about what really matters. They never ask: ‘What does his voice sound like?’ What game does he like best?’ ‘Does he collect butterflies?’ They ask: ‘How old is he? How many brothers does he have? How much does he weigh? How much money does his father make?’ Only then do they think they know him."

“If you tell grown-ups, ‘I saw a beautiful red brick house, with geraniums at the windows and doves on the roof..,’ they won’t be able to imagine such a house. You have to tell them, ‘I saw a house worth a hundred thousand francs.’ Then they exclaim, ‘What a pretty house!’"

It’s a brilliant observation, and we think it’s worth your while to think a little less like a “grown-up” and a little more like a little prince.

Why capturing the story makes all the difference

Of course, you already know that you can't just tell people, “This property is worth a hundred thousand francs,” and expect them to say, “What a pretty property!” You actually do have to convey the “geraniums” and the “doves,” so to speak.

So why do so many brokers fail to do this? Why do they revert to a boring old rundown of a market’s stats when they could capture the possibilities—and the stories—behind it? Even in an industry that’s so driven by numbers and economics, emotion and trust play a powerful role in decision making.

If you can capture the story of your market, then you can capture the business to be had in that market. You’ll be the person clients go to with all sorts of new opportunities, because you’ll have made it clear that you care about the bigger picture, not just the basics.

So take everything you know about your market and ask, “What’s the bigger story here? How can I bring these facts together in a memorable way? What are the larger dynamics at play?"

Go further. Connect the dots. Fill in the details. Tell a story. Love your market.

Get more CRE marketing tips by downloading our ebook: The Ultimate Guide to  Marketing Your Brokerage and Yourself

Topics: Best Practices

Irena Ashcraft

Written by Irena Ashcraft

Irena is a freelance writer who works with innovators, educators, explorers, and changemakers. From brave nonprofits to frontier-straddling startups, she helps clients connect with their biggest fans through writing that's fresh, relatable, and fun.

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