Not knowing the difference between these two is one of the first mistakes that Real Estate Agents are making.
We will start with differentiating between a strategy and a tactic.
Tactics are what you do. An example of using tactics would be working on your website, sending postcards, making phone calls or placing ads.
Strategy is what you say and how you say it. Strategy is what you are saying on the postcard. It is what you are saying on your website.
Most Real Estate Agents don’t have any problem with the tactical side. Everything they do is pretty standard throughout the industry. For example I could go to your companies website and where it say’s “Agents Only” I would be able to find postcards, tools to use to help design your website, ads, power point presentations and things of that nature. The whole page is filled with tactics. But that is not the issue.
The problem is Real Estate Agents have not effectively developed a strategy. How do I know that? Just look around. Every agent I see is doing the same old thing. They are sending out the exact same calendars and postcards. They are putting out ads of their homes for sale and hoping for a phone call. That is not a strategy.
The most important thing in a strategy is a certain concept. It is called your unique selling proposition or your irresistible offer. I’ll talk about this more in another article.
Let me share with you two real examples of Strategy –vs.- tactics.
I was talking to an agent and he mentioned how he had just gotten both ends of a transaction and then mentioned how he got it through a specific tactic. He said he had gotten it from a calendar. Guess whose calendar? It was sent out by another agent in his office. It was not even his. So when he asked the person “Hey, whose calendar is it?” They gave him the name of the other agent and then he asked if they wanted to deal with that agent and guess what the person said. They said “I don’t care. I just want somebody to come out and talk to me about selling my house.”
So the agent that sent the calendar out was using a specific tactic.
But what was their strategy? What were they saying and how well were they saying it?
Were they articulating an irresistible proposition by using that calendar? Where they giving a specific benefit to the potential client for using them?
NO, not at all.
Remember what they said: “I don’t care who comes out. I just got the phone number off the calendar.”
So, if you want to waste your money then spend it on tactics where you haven’t yet figured out your strategy and have nothing good to say.
Another agent once said “Look at what I just got”. I looked and it was a nice little pen. Now these pens cost a little bit of money. Now what is this pen? It is a tactic. But what is it saying? How is it being said?
Is the pen actually giving an irresistible proposition? Is it actually giving them a specific benefit for dealing with that agent? A reason to believe they are going to get that benefit? A difference why they should choose that agent over any other agent? No, there is none at all.
So what is the pen? It is a waste of money. And what do I say to people? “Don’t buy the pen send the money to me.” You can find my address on the website Buyersarentliars.com. When you go to order the pens just stop and say to yourself don’t buy that, ask how much they would cost and then write the check out to me. Okay?
Whenever you are tempted to buy the calendar or the pen and you have not thought out your strategy just send the money to me instead. Because I guarantee that at least I will appreciate you a good ten minutes at least. Well, depending on how much the check was for.
How much would you spend on a bunch of pens like this? How much would you spend sending out a bunch of calendars? I know of one agent that sent over 2000 calendars out and spent over $5,000.
Remember; don’t even bother with a tactic until you come up with a good strategy.
Moral of the story: If you want to just waste your money spend it on tactics where you have nothing good to say and maybe another agent will get both sides of the transaction.