If You Don't Tell Them, Don't Blame Them for Not Knowing

By
Services for Real Estate Pros with CBRB - New England

Suppose when you get home from work tonight, you learn that your clothes dryer is broken.  What would you do?

Well, many of us would probably begin researching a new dryer online.  Perhaps going to GoodHousekeeping.com or ConsumerReports.com to learn a little, or perhaps straight to Sears.com or Lowes.com to begin to price them.  Let's say you've done that and have narrowed your search.  Some of us would order online, but others wouldn't feel comfortable spending several hundred dollars sight unseen.  So, you hop in your car and head to the store.

Once you are there, you narrow the selection down to these two dryers.

Image of Clothes Dryer                    Image of clothes dryer

They look the same.  They are the same size, same capacity, same energy usage, same number of cycle options, same warranty, same shipping, same everything.  Except, one on the left costs $400 and the one on the right costs $700.  Which would you buy?

Most people would opt for the $400 model, since everything else is equal.  However, just as you are about to make your choice, the sales person says this:

"Allow me to demonstrate something that may affect your choice.  The dryer on the right, the one for $700, when the dry cycle is complete actually irons, folds, and puts away your clothes for you."  The buzzer goes off, the door opens and out pops perfectly ironed and folded clothes straight into a nearby dresser!  Now which one do you buy?

Think about it.  How many of you Gentle Readers drive a Mercedes Benz or BMW versus a Chevrolet Aveo?  Why?  The Aveo gets better gas mileage and you can buy a brand new Aveo every 6 months for what one Mercedes costs.  So, why don't we all drive Aveos?

Because we are consumers and most consumers are willing to pay extra to get extra.

But, consumers have to know they are getting extra, and the extra has to have value.  Once you learn the extra "value add" things you and your company do for your clients, your job is to make sure your consumers know all about them.

OK, by now I'm sure many of you are wondering what my point is here.  It is simply this:  If you never demonstrate to a consumer how you are different from your competition, why you are better, do not blame the consumer for making their choice based on price alone.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Bill Austin 09/05/2008 03:09 PM
Topic:
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Location:
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Rainmaker
308,572
Rob & Jeannie Steward
RE/MAX Realty Centre - Clarksburg, MD
We Work TWICE As Hard For You!

That works 95% of the time. Some people just have their minds made up like a steel trap. But you try anyway.

 

 

P.S...  Sign me up for the dryer on the right.   ;)

Sep 05, 2008 03:09 PM #1
Ambassador
542,073
Larry Story
Total Care Realty - Greensboro, NC
Total Care Realty, LLC, Greensboro, NC Real Estate

Tim excellent post but Rob is correct in that the 5% will not have their mind changed which is fine.  I can live off of 95%.

Sep 05, 2008 03:11 PM #2
Rainmaker
536,478
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Tim,

Very true. I've long said one of the issues we have in the business is that from the consumers point of view we're all seen as the same. Rarely do we put forward the distinctions (how we may be different from others) they need to make informed decision.

Sep 05, 2008 03:21 PM #3
Rainmaker
297,019
ARDELL DellaLoggia
Sound Realty - Kirkland, WA

...and we can't hate the $400 dryer and those who choose it :)

Sep 05, 2008 03:39 PM #4
Rainmaker
700,610
June Piper-Brandon
Century 21 New Millenium - Baltimore, MD
Piecing Dreams One Home at a Time

Now where was that $700 dryer sold?  Just kidding!!  You are right, you always need to demonstrate what you do for the extra $$ and why what you do is more valuable to the consumer or it's always going to be about the price.

Sep 05, 2008 03:50 PM #5
Rainmaker
645,240
Team Honeycutt
Allen Tate - Concord, NC

Exactly! Set the expectations up front and explain to your clients what sets you apart and you no longer have to negotiate your commission.

Sep 05, 2008 04:57 PM #6
Ambassador
1,590,767
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

I think this is so true. Though occasionally someone will "buy" solely on price.

Sep 10, 2008 01:50 PM #7
Rainer
2,915
Michele Corker
RE/MAX Fine Properties - Chester, VA

Thanks for getting my mind turning this morning! You are right we have to show them our true value! Thanks for posting.

Oct 14, 2008 06:30 AM #8
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Rainer
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Tim Lamont

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