In the wake of the NAR settlement finalization, the new commission structure, and the overall tumultuous market that we’ve been in for the past couple of years, it doesn’t really feel like business as usual anymore. Because it’s not.
Sure, there are various practices and principles that will remain true in any market cycle, but we’ve entered a new chapter that’s challenging new and seasoned agents to rethink our approach to selling real estate. Arguably, these changes are probably even more difficult for seasoned agents than for newer agents because senior agents are likely more set in their ways, and newer agents are more adaptable because they’re still learning.
Regardless of how many living rooms you’ve sat in and how many conversations you’ve had, these are new conversations and new questions with a new playing field. This is the era of the knowledge broker — at least that’s how I’m trying to position myself. You can either be confused, or you can be confident. I’m choosing the latter. Here are a few things my team has been doing to come out on the other side stronger.
Preparation
Making changes doesn’t happen without practice and preparation. In the months leading up to the new commission structure, my team and I worked on developing new scripts and role-played them religiously every week.
I use the term “scripts” loosely because I’ve never really used scripts. It doesn’t jibe with me, feels a little too rigid, and seems ineffective. But the purpose of having talking points or a script is just to get your reps in. With enough repetitions, the scripts or talking points will just become part of your arsenal.
Role-playing is a tool that I never really used much in the past, but I believe every agent should be role-playing right now. It’s crucial to anticipate the questions and concerns that clients might have, especially in today’s uncertain climate. Anticipation and preparation are like first cousins — they’re very closely related. If you can anticipate what someone might ask, it gives you the opportunity to prepare for it in advance. That’s how I approach every appointment.
So practicing these responses allows you to convey confidence and clarity, which clients need now more than ever. It’s about knowing how to talk through market expectations, explaining why pricing needs to be realistic, and presenting a strategy that helps position them for success right out of the starting gate.
In addition to practicing, we also developed a buyer guide to reflect that of an editorial magazine, and we reconditioned our thinking and behavior to treat buyer consultations with the same importance, level of preparation and materials we would listing appointments.
Asking the hard questions
This isn’t a new world order, but it is a shift in the way that we conduct our business, and that presents an opportunity. There are more agents entering the business these days, but fewer agents actually transacting. Your ability to effectively articulate your unique value proposition is what’s going to determine your place in this market.
Personally, I welcome the opportunity. I think it’s a gift. It’s an opportunity to differentiate yourself from the rest of the pack, which can often be very overcrowded.
So ask yourself:
- How confident are you in explaining the new commission structure?
- How confident are you in defending your commission?
- What does your buyer consultation guide look like?
- Do you have a buyer consultation guide?
- Are you effectively utilizing video and social media to communicate with your audience and database in the language that they speak?
- How confident are you in your ability to explain what’s happening with interest rates?
That last one is a big one. Remember, you don’t need to be a financial advisor, but you do need to understand what moves the market and be able to communicate that to your clients.
Getting creative
On our team, we’re constantly R&Ding — ripping off and duplicating, as Tom Ferry would say. Then we’re trial-and-erroring, we’re testing, and we’re measuring again. We’re refining our pitch. Measure what matters, and look carefully at what works and what doesn’t. Everything here is an opportunity to find a more effective way.
It’s no longer just about listing a property and presenting an offer. Forget that spray-and-pray mindset. It’s about going out and actively engaging prospects, activating buyers, going beyond just the traditional MLS to leverage social media, and tapping into networks that you hadn’t considered before.
Our ability to do this is what sets us apart in a crowded marketplace. We’re not reinventing the wheel; we’re just adding some new spokes to it. It’s about using data and trends to inform decisions and being transparent with clients every step of the way. Our value needs to be clear, compelling and uniquely tailored to each client.
As we navigate this new landscape, let’s challenge ourselves to think more creatively, communicate more confidently and provide undeniable value. That’s how we will continue to thrive and build lasting relationships in this evolving industry.
Jon Grauman is the principal of Grauman + Rosenfeld team at The Agency in Los Angeles, California, and a cast member of Netflix’s Buying Beverly Hills. Connect with him on Instagram or LinkedIn.
