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Straddling the competitive edge
Aggressive competition must not slip into the shadow of questionable ethics.
by Chris Heagerty A competitive agent’s mantra is "know your competition." REALTORS® increasingly operate in environments where competition continually gains momentum. Just when you feel like you know how to counter the newest competitive wrinkle, up jumps another competitor’s innovation. Competition at the listing presentation is passé. We are interviewed by knowledgeable consumers from a field of agents contending for the seller’s listing. A formalized selection process has even entered the realm of buyer representation. Buyer agents armed with presentation materials and a designation vie to become the buyer representative of choice. Battle lines are now drawn in these two major arenas.
A distinct advantage results when you know against whom you compete. Understanding our competitors' strengths and weaknesses enables us to state our offerings in more-advantageous terms.
The clear goal is to gain the competitive edge. Whether you focus on a niche or serve the entire market, concentrate on relocation specialists or Internet pros, offer basic or advanced services, there is always a way to spin what you do that allows you to compete effectively. Each agent also wields his own personal charisma, which is the wild card in the competitive game. We’ve all at one time or other been trumped by an agent with inferior skills who ultimately gained the competitive edge fair and square.
The real estate environment challenges the REALTOR®'s competitive psyche, and nothing's sweeter than beating the competition. Still, as the temptation exists to fight to the death, we wonder at times if "good competition" is an oxymoron. Many times, competition puts ethics in jeopardy. We learn the difference between right and wrong at our mother’s knee; however, learning ethics is more complicated. Often we don’t have a concrete rule as a default to guide our actions. Our Code of Ethics helps us in Article 15: REALTORS® shall not knowingly make false or misleading statements about competitors, their businesses, or their business practices. What the article does not address is innuendo and subtle shadows that are technically true but mislead the consumer. For example, is it OK to say something like, "Although I would never do this, I have heard that some REALTORS® won’t show that company’s listings"? On its face, this might be true, but the effect is detrimental when a seller has to process the implications.
So where do you draw the line between behaviors classified as good, aggressive competition and those on the shadowy side of ethical? It is not enough to just dwell on facts, because the statement in our example could very well be fact. There exists a dilemma for REALTORS® who choose to walk the high road but not sacrifice the competitive advantage. Focusing on the benefits and services they and their firm offer should guide the contest. If you know that one of the competitors the seller or buyer is considering doesn’t have a particular service, then steering discussion toward what is lost if a company does not offer that service is fair game. Casting a disparaging aura around a particular competitor because they are lacking is not. Comments and innuendos that shine an unfavorable light on a competitor in an effort to disparage the competitor and gain an advantage is not good competition. Business won at the expense of ethics reflects poorly on the winner and on the industry. In the end, what is lost is greater than what is gained.
Chris Heagerty, CRB, CRP, GRI, is market director for eRealty.com in Austin. E-mail her at cheagerty@eRealty.com.
Illustration © Digital Vision.
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