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As a real estate agent, being able to answer two key questions confidently can make or break your business. It’s not just about what you do but also how you communicate your expertise in today’s market. In this guide, we’ll show you how to stop being a “secret agent” and master these two essential conversations: your elevator pitch and how to answer, “How’s the market?”
- Crafting, Honing, and Crushing Your Elevator Pitch
An elevator pitch is a brief, impactful summary of who you are and what you do, designed to capture someone’s interest in 30 seconds or less. It’s not about a canned response—it’s about delivering a memorable message that sets you apart.
Clarity is Key
Who are you, and what do you do? Instead of saying, “I’m a real estate agent,” make it clear and valuable. Try something like, “I help people to buy, sell, or invest in real estate.” This straightforward approach makes your role easy to understand while emphasizing your services.
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Define Your Value
Why should people care? Be direct about how you solve problems. Do you specialize in fast sales or a specific niche? For example, “I ensure sellers get the best price, without the hassle of endless negotiations,” demonstrates the value you provide to clients.
Make It Conversational
Your elevator pitch should never feel rehearsed. Once you’ve introduced yourself, ask questions to engage the listener. Here are four examples:
- “What’s been your biggest real estate challenge?”
- “What are you most curious about in real estate right now?”
- “Have you heard anything surprising about the current market?”
- “What’s one thing you’d change about your current home if you could?”
These questions encourage dialogue and allow you to build rapport quickly.
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Practice Until It’s Natural
It may sound counterintuitive, but the more you practice, the more natural your pitch will sound. Record yourself, practice with colleagues, and keep refining until it flows easily.
- Action Step: Make a habit of practicing with three new people per day—whether you’re at the bank, pharmacy, or picking up your kids from school. Use every opportunity to fine-tune your delivery.
- Answering “How’s the Market?” with Confidence
When someone asks, “How’s the market?”, be prepared with a clear, data-backed response. This is your chance to demonstrate expertise and build trust.
“The market has been especially great for sellers, considering the recent increase in home value.”
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Back it up with Facts:
- Home Prices Have Skyrocketed: Since 2019, U.S. home values have increased significantly, with prices rising by over 40% nationwide. In 2024, the average home value is $361,000, compared to $248,000 in 2019. Some regions, like the South and West, have experienced even greater appreciation
- Regional Growth: The South and West have seen the most significant increases, with some metro areas experiencing over a 25% rise in home prices since 2020. Cities like Miami and Dallas have experienced rapid appreciation
- Sustained Demand: Despite market fluctuations, demand remains strong due to limited inventory and changes in lifestyle preferences, like the rise of remote work.
Action Step: Always Know Your Local Market Data
To confidently answer “How’s the market?”, stay on top of your local real estate data. Use these resources to stay informed:
- Your MLS Hotsheet: Regularly check your MLS for up-to-date listings and market trends.
- ListReports: A tool that provides personalized marketing materials and data insights to help you explain local market trends.
- Altos Research: A platform that provides real-time data on local real estate markets, from inventory levels to pricing trends.
- NewHomeSource: Use this resource to find new construction homes in your area, an often overlooked key segment of the market.
By staying current with these resources, you’ll always have the most relevant and accurate information at your fingertips.
Conclusion: Master These Conversations to Stop Being a “Secret Agent”
By perfecting your elevator pitch and confidently answering “How’s the market?”, you can stop being a secret agent and start becoming the go-to expert in your sphere. Master these two conversations; you’ll see more referrals, trust, and business opportunities.
