The Industry Is Changing. Is Your Website Ready?

It’s the settlement heard throughout the real estate industry. Just a few days ago, the National Association of REALTORS® agreed to pay $418 billion to sellers who filed a class-action lawsuit arguing they were charged with unfairly high commissions.

Pundits are calling it the most significant change in the real estate industry in over a century, but how it affects agents and consumers — especially in the long term — is yet unknown.

Of course, ups and downs are nothing new to the real estate market. But elite agents never throw in the towel; rather, they rise to the occasion. What can you do now to get ahead of the competition and mitigate the effect of this game-changing settlement?

Communicate your value

To borrow a quote from Toby Schifsky, vice president of real estate education company Kaplan: "While this may result in lower prices for homebuyers — especially important at a time of elevated mortgage rates — it's going to be imperative for buyer representatives and agents to demonstrate their value to would-be buyers.”

And what’s the first place people will check to determine whether the value you offer is commensurate to your commission? Your website, of course. That is, your real estate agent website should clearly and completely relay why people should entrust you with the biggest transaction they may complete in their lives. What sets you apart? What do you offer beyond facilitating real estate transactions? Do you have access to off-market listings?

Focus on credibility

By showcasing your mastery of the market, would-be clients will be assured that you won’t lead them astray just to eke out a bit more commission. It also shows that having an expert at their side can lead to faster sales and better deals — the raison d'etre of hiring an agent in the first place. Publishing your realtor website is an excellent start, but make sure to also have a search experience optimization (SXO) strategy that encompasses insightful content, local search campaigns for online visibility, and reputation building for engendering trust. Also crucial: testimonials and awards proving you’re a trustworthy agent who’s earned recognition from past clients and the industry alike.

Highlight your negotiation skills

Now is not the time to be shy about the results you get for clients. If you consistently help homeowners sell above market rate or enable buyers to net significant price concessions, make sure that’s front and center on your real estate agent website. By doing so, you reframe commissions from an inconvenient necessity to a worthwhile price of admission. After all, wouldn’t you want to pay more if you get more out of it, too?

Embrace technology and innovation

Providing white glove service has never been more important. Luckily, technologies like chatbots and customer relationship management (CRM) suites make it easier to deliver responsive service through automation. Of course, IDX integration can also enable website visitors to book property viewings directly from a listing page, creating a seamless user experience. The crucial part, however, is ensuring you have an open-source website that allows you to integrate a constellation of third-party tools rather than restricting you to proprietary or platform-specific ones (as is often the case with SaaS website providers).

Agent Image has been in the real estate marketing industry for 25 years and has seen our fair share of upheavals. But we believe that hiding behind every adversity is an opportunity. You can rely on our team of expert website designers and digital marketers to help you navigate these turbulent times so you can find the success you deserve.

For a FREE consultation, call 1.800.979.5799 or send a message here.