If you’re a real estate agent looking to elevate your game, you’re in for a treat. This most recent episode of the Real Estate Insiders Unfiltered Podcast featured the legendary Allan Dalton. With nearly 50 years in the real estate industry, Dalton has some priceless insights that can help agents navigate the complexities of the real estate market today.
The Real Determinants of Price
Dalton emphasizes a crucial point that often gets lost in the noise: the seller, seller’s agent, buyer, buyer’s agent, lender, and appraiser all play pivotal roles in determining real estate prices. Contrary to popular belief, it’s not just the market or the buyers who decide the price. This insight can reshape how we view our roles as real estate agents.
Key Takeaways:
Influence Over Price: Agents have the power to influence property value through effective marketing and communication. Understanding this can lead to better strategies and outcomes for their clients.
Language Matters: Dalton argues that terms like “listing presentation” should be replaced with “marketing proposal.” This subtle shift can change how clients perceive the value we bring.
The Importance of Language
One of the most impactful moments from the podcast was Dalton’s focus on the language agents use. He suggests that saying “past client” makes realtors seem like “past agents.” Instead, they should think of their clients as ongoing relationships.
Actionable Strategies:
Change terminology from “comps” to “properties buyers are evaluating.” This not only sounds more professional but also places emphasis on our role as advisors in the buying process.
Adapting to Real Estate Trends
The real estate market is constantly evolving, and Dalton points out that many agents are still stuck in outdated ways of thinking. For example, the idea that homes sell solely due to price undermines the marketing aspect of selling properties.
What to Do:
Embrace real estate technology to stay updated on trends. Whether it’s through real estate podcasts, blogs, or courses, continual learning is essential.
Adapt to the changing market by recognizing the longer tenure homeowners are experiencing. This means the approach to clients must evolve.
Creating Lasting Relationships
Dalton advocates for shifting focus from transactional relationships to consultative ones. He emphasizes that agents should treat their role akin to that of a trusted advisor rather than just a salesperson.
Practical Tips:
Implement a Home Equity Checkup strategy to regularly engage clients.
Develop a long-term relationship mindset, focusing on how to assist clients before they even think about selling or buying.
The Future of Real Estate Consulting
The podcast touches on the idea of becoming a Certified Real Estate Consultant. This could set agents apart in a crowded marketplace and elevate the profession as a whole.
Why It Matters:
As the industry moves toward more advisory roles, being certified adds credibility and trust.
It positions agents to better serve clients who may not be ready to buy or sell but need guidance.
Conclusion: Embrace the Change
Allan Dalton’s insights on the Real Estate Insiders Unfiltered Podcast were nothing short of enlightening. His wisdom and experience remind agents that while the real estate market may change, their approach to serving clients must adapt as well. If you’re looking to refine your skills and build a sustainable business in the real estate industry, consider these strategies. After all, being a successful real estate broker or real estate agent means being proactive and continuously learning.
