In the wake of the NAR settlement and rule changes, now is the time to communicate with confidence, be creative, and position yourself as a knowledge broker, writes Buying Beverly Hills’ John Grauman .
As we look forward to what it will take to thrive in 2025, Inman praises strong indie brokers. We spent the entire month of December looking at how independent brokers are adapting to the post-commission payments landscape, and what new tools and platforms are emerging to give indies a competitive advantage. Let’s dig into it.
With the completion of the NAR settlement, the new fee structure, and the overall market disruption we have experienced over the past few years, it no longer looks like business as usual. Because it’s not.
While there are certainly various practices and principles that remain true during any market cycle, we are entering a new chapter that is asking new and veteran agents to rethink their approach to real estate sales. These changes are probably even more difficult for experienced agents than for new agents. This is because senior agents are more likely to be set in their ways, and newer agents are more adaptable because they are still learning.
No matter how many living rooms you’ve sat in and how many conversations you’ve had, these are new conversations, new questions on a new playing field. This is the age of knowledge brokers – at least that’s how I try to position myself. You can be confused or confident. I’m choosing the latter. Here are some things my team has done to make the opposing team stronger.
preparation
Making changes doesn’t happen without practice and preparation. In the months leading up to the new committee structure, my team and I worked on developing a new script and role-played intensely every week.
I use the term “script” loosely since I’ve never actually used a script. It doesn’t suit me, feels a bit too hard and doesn’t seem to have any effect. However, the purpose of preparing talking points and scripts is simply to make the person in charge understand. With enough repetition, your script or talking points will become part of your arsenal.
Role-playing is a tool I haven’t used much before, but I think all agents should role-play now. Especially in today’s uncertain climate, it’s important to anticipate the questions and concerns your clients may have. Anticipation and preparation are like cousins and are very closely related. Being able to predict what someone will ask gives you the opportunity to prepare for the questions in advance. That’s how I approach all my appointments.
So by practicing these responses, you can convey the confidence and clarity your clients need now more than ever. It’s about knowing how to understand market expectations, explaining why pricing needs to be realistic, and presenting strategies that will help you position yourself for success right from the starting gate.
In addition to our practice, we have also developed a buyer’s guide that mirrors the editorial magazine’s guide and recalibrated our thinking and behavior to treat buyer consultations with the same importance, level of preparation, and resources as listing reservations.
ask difficult questions
This is not a new world order, but it is a change in the way we do business, and that brings opportunities. These days, more agents are getting into the business, but fewer are actually doing the transactions. Your ability to effectively express your unique value proposition will determine your place in this market.
Personally, I welcome this opportunity. I think it’s a gift. This is your chance to differentiate yourself from the often crowded crowd.
So ask yourself:
How confident are you in explaining the new committee structure? How confident are you in defending your committee? What does a buyer consultation guide look like? Is there a buyer consultation guide? ?Are you effectively using video and social media to communicate with your audience and database in the language they speak? How confident are you in your ability to explain what’s going on with interest rates?
The last one is the big one. Remember, you don’t have to be a financial advisor, but you do need to understand what moves the market and be able to communicate that to your clients.
get creative
Our team is constantly doing research and development, and as Tom Ferry would say, copying and copying. Then try, test, and measure again. We are refining our pitch. Measure what’s important 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 making an offer. Forget the spray-and-pray mentality. It’s about going out and actively engaging with prospects, activating buyers, leveraging social media beyond just the traditional MLS, and tapping into networks you never thought of before.
Our ability to do this is what sets us apart in a crowded market. We are not reinventing the wheel. We’re just adding some new spokes. It’s important to use data and trends to make decisions and be transparent with your clients every step of the way. Our values must 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. In doing so, we continue to thrive in this evolving industry and build lasting relationships.
John Grauman is a principal on the 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.
