What is Your Competitive Advantage?Anything that gives you an edge over your competition.Competitive advantage for service professionals in the housing, banking, insurance, or financial services industries can arise from several key factors:1)Service: Providing exceptional customer service is crucial in service-based industries. Professionals who consistently go above and beyond to deliver a positive and personalized experience to clients can create a competitive advantage. Entry-Level Service Expectations:-Product knowledge-Clear & Prompt Communication-Client emotions.2) Differentiation: In commoditized industries, you must have niche products or services you provide that set you apart. Commoditized means that it's heavily regulated so often companies are doing very similar things at very similar prices. What one or two things are you world-class at? What one or two things are you world-class at? There are riches in the niches.Building Your Differential Advantage:-Who is your ideal client?-What problem(s) do you solve for them?-Can you clearly articulate this?3) Price: To say that price doesn't matter would be naïve. We don't want you to be the "cheapest" but you also must be competitive.Basic Service Expectations (entry-level)-Perform a market analysis for price comparisons.-Shift from price to value (see step 2).-Outcomes-based selling.4) Reputation / Relationships: Reputation isn't built overnight. It takes years of consistency to build and can be destroyed overnight. We can't afford to have "bad" days. Every day with your current client is an interview for your next.Person of Influence-Be a community leader.-Build a strong referral partner base.-Customer testimonials for social proof.Once you deliver on these 4 pillars of competitive advantage then you can focus on having a "contagious confidence" that attracts others to you."Contagious confidence" refers to a state of self-assuredness or certainty that is so compelling and inspiring that it spreads to others. It is an attitude or demeanor characterized by unwavering belief in oneself and one's abilities, which has the power to influence and uplift those around you. When someone exudes contagious confidence, they radiate a sense of poise, competence, and optimism that can be infectious, inspiring others to feel more confident and capable in their own pursuits.People with contagious confidence often display qualities such as strong self-esteem, assertiveness, charisma, and a positive mindset. They project a sense of authenticity and conviction that resonates with others and encourages them to believe in themselves. Through their actions, words, and body language, individuals with contagious confidence motivate and empower others, helping them overcome self-doubt and take risks in pursuit of their goals.Contagious confidence can have a profound impact in various areas of life, including personal relationships, professional settings, leadership roles, and public speaking engagements. By instilling confidence in others, it can foster an environment of growth, collaboration, and success.It is worth noting that contagious confidence should not be confused with arrogance. Confidence becomes contagious when it is accompanied by genuine empathy, respect, and a willingness to support and uplift others rather than diminish them.Conclusion:Once you can clearly articulate your competitive advantage based on your service, differentiation, price, and reputation then you will have a contagious confidence in all parts of your business. You'll be able to meet with prospect clients and articulate your value, and attract new referral partners based on relationships in your community. Watch the full episode on solopreneurmovement.com

What is Your Competitive Advantage? Anything that gives you an edge over your competition. Competitive advantage for service professionals in the housing, banking, insurance, or financial services industries can arise from several key factors:      1)Service:Providing exceptional customer service is crucial in service-based indu...

June events to check out!

June 8th – 11th: Denver Fringe Festival

Housing Inventory Increased, Sales Declined

The metro Denver real estate market in April showed an increase in active listings by 44% compared to the previous year, with the number of homes up by 33% and the number of condos up by 80%. However, the 6,600 active listings remained well below the historical average of 14,300 for this time of year. If we don’t see an increase in new inventory getting brought to the market, we might see fiercer competition for what few listings we do have available. Under Contract listings decreased by 18% from the previous year, consistent with national trends, indicating a lack of mortgage applications from buyers. Overall sales were down 30% from April 2022, with homes and condos performing similarly to each other. 

The average sales price declined by 5.6% in Denver compared to the previous year but remained more stable than in most other western US cities (e.g., Seattle, San Francisco, Los Angeles). The average price for homes and condos in April was $682,000. Properties sold for an average of 0.21% above the asking price, showing a more competitive market than we’ve had so far this year.

Property inspections are an important part of the real estate buying process. They involve hiring a professional inspector to assess the condition of a property and identify any potential issues or defects. Here are some key points to consider about property inspections: Purpose: The primary purpose of a property inspection is to evaluate the overa...

Check out these great May events!

May 6th – 13th: Denver Fashion Week Spring/Summer ‘23

“Denver Fashion Week, one of America’s fastest-growing fashion platforms, is back again for Spring 2023. Collections from local, national, and international designers will range from streetwear, activewear, lifestyle, kids, and sustainability to high fashion. The nationally acclaimed show takes place twice a year in the fall and spring seasons. As Colorado’s largest fashion show, thousands of attendees show up each year in support of Denver’s growing and diverse fashion community. DFW tickets always sell out, make sure to reserve yours.” Tickets & More Info!

Inventory is on the Rise This Spring, As It Should Be

Denver’s real estate market in March showed a significant increase in active listings, up by a whopping 103% from last year, signaling a potential shift in the market. With around 4,500 active properties at the end of the month, this is still significantly lower than the 30-year average of about 13,600 listings at this time of year. However, the increase is notable, given that the market has been exceptionally tight for the past few years. This indicates that sellers are becoming more comfortable with the current market environment, despite the economic downturn and fluctuating mortgage rates. Regardless of the increase in listings, prices have dropped by an average of around 5% from last year, with homes experiencing a more significant decline of 6% and condos dropping by 4%. The average days on market increased to 37 days, compared to just 12 days in March of last year. Furthermore, 37% of homes required at least one price reduction to sell, indicating that sellers may still need to be flexible with their pricing.

Here are some tips on how to search for homes Determine your budget: Before you start searching for homes, determine your budget based on your financial situation and get pre-approved for a mortgage.Identify your needs: Make a list of your needs and wants in a home, including the number of bedrooms, bathrooms, square footage, location, and any othe...

Here are some tips on how to make an offer on a home Work with a real estate agent: A real estate agent can guide you through the process of making an offer, help you determine a fair price to offer, and negotiate on your behalf.Research the market: Research the local real estate market to determine what similar homes are selling for in the area an...

Marketing real estate is all about showcasing the property to the right audience in the best possible way to generate interest and ultimately sell or lease the property. Define your target audience: Before you begin marketing your real estate, you need to define your target audience. Consider factors such as age, income, lifestyle, and interests, a...

Increasing curb appeal can make a big difference in the overall appearance and value of a property. Improve landscaping: Clean up overgrown plants, trim trees and bushes, and add some colorful flowers or plants to improve the look of the front yard.Upgrade the front door: A new front door can make a big impact on the overall look of the house. Choo...

Wine cellars are an ideal storage place for wine because they provide optimal temperature, humidity, and lighting conditions to preserve and age wine properly. Determine the size and location of the wine cellar: The size of the wine cellar depends on the number of bottles you plan to store. Choose a location that is cool, dark, and free from vibrat...

A virtual real estate tour is a great option to showcase a property to potential buyers who may not be able to or want to visit in person. Plan Your Tour: Before you start filming, plan out your tour. Decide which areas of the property you want to highlight and map out a route that makes sense.Choose Your Equipment: You'll need a camera or smartpho...

Listing the Property is the process of creating an effective listing that will attract potential buyers to the property. Take high-quality photographs of the property: One of the most important elements of a listing is high-quality photographs that showcase the property in the best possible way. The real estate agent should take clear and bright ph...

Receiving offers and negotiating are critical aspects of the real estate sales process, as they determine the final price and terms of the sale. Here are some more details on Receiving Offers and Negotiating: Review the offer carefully: When receiving an offer, the real estate agent should review it carefully to ensure that it meets the seller's ne...

Congratulations on starting your career as a real estate agent! Here are some tips for your first year: Build your network: As a real estate agent, networking is crucial to your success. Start by attending industry events, joining local business organizations, and reaching out to your friends and family for referrals.Focus on your niche: Real estat...

When dealing with a difficult real estate listing, there are several tips that you can follow to increase your chances of success. Hire a professional photographer: High-quality photos are essential for attracting potential buyers. Professional photographers can help you capture the best angles and lighting to showcase your property.Conduct a thoro...

Choosing the right trees for your landscaping is an important decision that requires careful consideration. Here are some tips for picking the right trees for your landscaping: Consider the climate: Choose trees that are suitable for your local climate. Check the USDA Plant Hardiness Zone map to determine the hardiness of different tree species in ...

Check out these great April events!

April 6th – 9th: Colorado Rockies Opening Weekend

“Catch the Start of the 2023 Season, Live and in Person! Colorado Rockies vs. Washington Nationals.” Get Tickets!

More Inventory, But Still Tough for Buyers

The local real estate market has seen a significant increase in active listings as compared with last year. However, that number remained low at the end of February, with only 4,100 active listings in metro Denver. Inventory is expected to remain short throughout the spring, making it a challenging time for buyers.

Despite challenges in the market, the number of properties under contract in February was only down 8.5% from last year, and average prices are still increasing slowly, with a 2.83% increase from last year.

Days on market have significantly increased from last year, at an average of 45 days to sell a home. There has also been a significant shift in the sale-to-list ratio, with an average discount of 1.85%, compared to last year’s 2.13% premium. This difference in sales price can help make up for the recent increase in interest rates. Overall, although inventory is low, buyers and sellers can still make deals in the current market.