REALTORS® learned ways to set themselves apart from the competition during an afternoon session of the Illinois REALTORS® Spring Conference & Expo Wednesday.
Instructors Adorna Carroll and Lynn Madison shared tips during their joint presentation, “Why your clients should choose you: Communicating your value in today’s market,” at the Collinsville Gateway Center. Although most members often explain to listing clients the advantages of working with REALTORS®, members often fail to share those advantages with buyers. Their ideas included:
- Identifying what consumers want from RELATORS® using a resource like NAR’s Profile of Home Buyers and Sellers.
- At the beginning of the process, explaining to buyers and sellers how you save them time, money and effort.
- Be prepared for more transparent and up-front compensation discussions with consumers.
- Use terms like “professional service fees” instead of commissions, especially in the presence of consumers.
Keynote address
Earlier in the day, Carroll kicked off the conference by discussing how consumer concerns and legal challenges may affect business models, compensation and the way clients are represented. Among her observations:
- Ongoing legal battles between NAR and the Department of Justice demonstrate the need for REALTORS® to be adaptable. Watch to see if brokerages will be forced to change from an independent contractor model to an employee model.
- Anticipate changes in the way commissions are disclosed and described in contracts.
- Pursue Seller Representative Specialist (SRS), Accredited Buyer Representative (ABR) and Real Estate Negotiation Expert (RENE) designations and the ongoing education they provide.
- Protect your own interests by using buyers’ agreements even though Illinois doesn’t require them.
