We’re Different. You’ve said it to a prospective seller in a listing interview.
You’ve told it to someone considering joining your team. Are you prepared when the person responds by asking, “How exactly?”
Getting clear on your Unique Value Proposition will help you win listings, retain buyers, and attract the right people to your team. If you don’t have one, or what you have isn’t compelling or easily articulated, read on.
Developing Your Unique Value Proposition in Real Estate
Regardless of where in the world you’re practicing real estate, you are undoubtedly in a market where you’re not the ONLY real estate agent available. For most of you, chances are you’re one of hundreds, if not thousands, of real estate agents available for buyers and sellers to choose from.
Add to that the high volume of information available to those potential customers and clients on the web, and we can quickly see that standing out in the crowd is not going to be easy. With so many options, why on earth will YOU be the one they choose?
Enter the clear articulation of your Unique Value Proposition. Which means, you need to HAVE a Unique Value Proposition, and you also have to get really good at communicating it to your market.
So, what does a good value proposition consist of?
- It’s clearly written and therefore easy to understand.
- It expresses the tangible results one can expect from working with you.
- It states how you’re better or different from your competition.
- It must pertain to what your customers really care about.
There are four core types of customer benefits, according to Harvard Business Review:
- Best quality
- Best deal/bang for the buck
- Luxury and aspiring to something greater
- Must-have/can’t live without
Where would you prefer to position your real estate practice? Do you want to be known as the highest-quality service available in your market? Can you show that people NET more working with you? Are you focusing on a high-end niche grounded in a certain lifestyle? Or is your primary focus to always be on the cutting edge of the latest technology and tools?
Writing YOUR Unique Value Proposition
First, it’s important that you gain some clarity on your own business model. Answer the following questions:
- What do you do?
- Who do you do it for?
- How do you do it?
Now, you can dive into the true value proposition. Why do clients choose YOU instead of your competitors? There has to be at least one thing you excel at, beyond what the competition does. It might be:
- Experience (years and volume, conversion rates, better net result than others)
- Advanced marketing techniques (Matterport 3D tours, staging specialist)
- Specialization in a particular type of real estate (residential waterfront, townhomes, fixer-uppers)
- Specialization in a particular profile of customer (investor, senior, first-time homebuyer)
Next, you bring together What you do, Who you do it for, and How you do it, with the big WHY.
Can you pick out the What, Who, How, and Why from these examples?
- Since 1992 we’ve been helping nice folks buy, sell, and build with a 21% faster average market time, removing the headaches from the process and making it downright enjoyable to transition to the next stage of your real estate dreams.
- We are the leading firm for representing both sellers and buyers of townhomes in our market, specializing in all the fine nuances that make townhome living special.
Still Feeling Like You Don’t Stand Out?
If you’re finding that everything you’ve identified still doesn’t set you apart enough from your competition, consider offering “value adds” that your competition doesn’t – Easy Exit Listing Guarantee, 6-Month Buyer Guarantee, and the like.
If you’d like hands-on help on developing your own Unique Value Proposition, reach me by emailing email@example.com or call 303.682.1072 – I am here to help you!
Helping real estate professionals improve their business and personal lives is my focus. I realize the importance of not only sharpening the saw on real estate business techniques and strategies, but also of finding the ultimate direction for YOUR best life.