How to Avoid Being Disrupted in Real Estate.
With Zillow, Redfin and other Big Tech platforms making big moves to become the Amazon of real estate, what can well-paid professionals do to rise above this disruption?
In today’s episode, I teach how to become a fortune teller by looking at other industries that are further down the disruption curve and looking for both patterns and principles that will give you the competitive edge to make disruptive technologies irrelevant.
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What’s up everybody? Justin Stoddart here. So excited today to talk about positioning because really so much about life and business is about positioning. Today, I’m going to teach you how to best position yourself for a very profitable future by becoming a bit of a fortune-teller.
That’s right, I’m going to help you to look into the future of your industry by studying other industries that are further down the disrupted curve, so that you know how to best position yourself right now, and in the months and years to come for maximum success.
But before I do that, I want to remind you that this show right here is going to be releasing some really exciting things to help you grow yourself and your business, trust me, you’re not going to want to miss out on any of them. So be sure to like this video, subscribe to the channel, and then hit the little bell notification, so you get notified every time we drop something new.
So many of us just watched the Superbowl about a week ago. And would you agree that blocking, tackling, passing, catching, etc, had a lot to do with positioning in order for the Tampa Bay Buccaneers and Tom Brady to win the Big Game?
Think about that for a minute. Had certain blocks, tackles, quarterbacks and receivers been positioned differently at any given point, it would have made the difference between a Super Bowl win and a Super Bowl loss.
You know what the same is true for you. The way that you position, your brand, your professional identity, and even your value proposition, your conversations, your marketing, it all amounts to wins in the form of more transactions at a higher margin, and a better quality of life, or less than all three of those categories. And one of the best ways to know how to best position ourselves is to understand the threats to our business and our margins.
One of those threats is the continued encroachment of industry disruption. Now we can learn a lot from other industries. This is actually part one of a series in which we look at other industries that are as I mentioned earlier, further along the disruption curve. And from those, we can pull out patterns and principles that we could apply to better position ourselves for success.
So the first industry that I want to take a look at is retail. It’s not difficult to look around our society today and see the disruption of retail. Empty brick and mortar stores abound and consumers have filled that void with e-commerce options like Amazon and others. That is the pattern we are seeing throughout our society, Amazon trucks all over neighborhoods.
Now what’s revealing is the principle which can be discovered with this question: Is there ever a time when it makes sense to buy something in person using a professional as opposed to solely online?
For me, the answer is absolutely yes. See, certain things are either expensive enough or complicated enough that I don’t feel comfortable making a purchase without expert counsel, the risk is too great.
I bring this up because embedded in the lessons of disruption within the retail industry is another vital takeaway. See the risk of buying shoes online, let’s say for example, and getting it wrong may cost you several $100 worst-case scenario, whereas the risk of buying or selling real estate, and not having someone to help you can actually rescue 10s of 1000s of dollars.
See with real estate, wealth management, tax advice, insurance, making a misstep can be very very costly. So how do you use this information to your benefit, consumers are being trained by big tech to believe that there is no difference in outcome between what you do and what they do so then it becomes your opportunity to help the consumer understand the risk versus reward ratio, which we will be covering in a future part of this series.
For now, it will suffice to say that you need to have very specific examples that demonstrate how through your expertise at positioning, you created two things number one, a quantifiable amount of opportunity that you helped your clients to capture that they wouldn’t have captured otherwise.
And number two, a quantifiable amount of risk that you help your clients to abate. And both of these quantifiable amounts must obviously dorf the delta, or the difference, between your fee and those of the disruptors.
Now, when you can demonstrate and share this superior positioning of your clients, you position yourself far above and beyond the value offered by these disruptive competitors.
I want to thank you so much for tuning in, and hearing what I have to say trust me, I’ve got so much more to share when it comes to differentiating yourself, positioning yourself as more valuable than your competitors, both in person as well as the big tech disruptors.
So be sure and subscribe to the channel so you don’t miss out on those. And remember my purpose is to help you to build a very successful business and even more significant life.
So with that being said, let me give my final reminder which is this to Go Think Bigger!