Today I want to explain to you the difference between the early adopters, the innovators, the early majority, late majority and the laggards in your real estate business. So you’re probably wondering what am I exactly talking about? There’s a guy named Jeffrey Moore, who wrote the book called crossing the chasm. If you haven’t read this book, I highly suggest that you get a copy and dedicate an afternoon to sit down and read it. While I worked in the technology industry, it was perceived as the “Bible,” so to speak and although we are in the real estate business, a lot of topics he discusses are applicable in our business. Before I was a real estate agent, I spent 20 years in the startup business focusing on how to be disruptive in our market. I wanted to get the attention and interest of businesses in our market, so I would bring our technology into a specific company and ultimately, implement it into their business model.
The notion here is that if you imagine a bell curve, the majority of the market is under the bell curve. A lot of companies and real estate agents think they’re starting out and doing really well because they’re doing business with the early adopters, as well as, the innovators, who are the people that are known as the “chasm” in the bell curve. These people don’t perceive a lot of risk in bringing in new technology or bringing on new real estate agents to help them. For example, in my experience during floor time, I would classify the walk ins as early adopters or the innovators. The established people who have been there for a very long time and have the luminaries in your market, are harder to cross that chasm with. In your real estate market, it’s important to understand that this affects your level of competence, reputation, and your ability to do business.
I want to stress the statistic that states, “80% of sellers are not going to use the same real estate agent they use when they purchase the home.” I think that part of this statistic is speaking volumes to the fact that by the time some clients sell their house, the agent they used a couple years back is no longer practicing anymore. I think another major reason for this statistic is that the client forgot who their agent was because that agent hadn’t nurtured them or fell out of favor with them.
This gives you the opportunity to step in and be that person. You have to earn the business under the bell curve. In order to do this you need to be demonstrating your competence and your capability to your clients. Illustrate your level of authority and expertise by generating market reports and lifestyle content. Be thinking of the things that demonstrate your understanding of the real estate world and the real estate process. You also want to be connected with luminaries and influencers in your market so you can cross the chasm. There are a few different ways I have made sure that I cross the chasm, but one of them is my systems I have in place.I know I’m plugged into my community offline and I’m doing all the things I need to be doing online because I have systems and I’m systematizing the things that work.
Having these systems in place is something that’s part of our done for you program as well as, the digital marketing. I’m in the process of developing a niche program that will be available soon, but I hope this will allow you to cross the chasm in your market!
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