Defining Your Real Estate Value Proposition
We don’t need to remind you that real estate is one challenging business. Lots of agents going after a relatively small number of listing opportunities (even smaller in times of low inventory).
When you call or meet with a prospect, how will they be comfortable with you as their agent, especially when they are hearing from many other qualified, hard-driving professionals? What sets you apart, both in your own mind, and when talking to a homeowner?
Or, put another way, what’s your VALUE PROPOSITION?
Your value proposition defines those qualities that make you stand apart from other agents. It explains the benefits you will bring to the homeowner during ever potential transaction.
If you’ve not taken the time to define your value proposition, you’ve come to the right blog post. Here are a few tips to get you started:
WHAT MAKES YOU STAND-OUT?
How can you truly differentiate yourself, knowing that another agent is going to be right behind you in trying to get that homeowner’s business. Many agents choose to invest in creating a point of different versus their competitors. Some example include, but are not limited to:
- Perhaps you offer high end, professional photography?
- Do you offer technology advantages to the potential seller, such as unique virtual tour applications?
- Are you willing to pay for pre-inspection expenses?
- What are you willing to offer to enhance the homeowner’s staging efforts?
- Is there anything you can do to pre-approve a loan?
Of course, there are others we haven’t covered, but you get the idea. Try to bring something to the table that nobody else might be bringing to set yourself apart.
HOW DO YOU PRESENT YOURSELF?
Surely, you’ve heard the saying: “you don’t get a second chance to make a first impression?” Whether on Zoom or on your first face-to-face meeting with a prospect, you will be judged by how you look and present yourself. Dress professionally at all times. Invest in high quality leave behind materials, and, in particular, a graphic designer who can make your story pop! Be on time for every meeting (on-time meaning 10 minutes early). Smile often.
CAN YOU PASS AS AN AUTHORITY?
Homeowners want to feel comfortable that they can trust you with such an important decision? To the degree you can show you are an authority worthy of their trust, you will go a long way to gaining the business. Here are a few thoughts:
- Reinforcing what we said above, look like an authority when you walk through the door, in your attire, grooming, posture and, above all attitude.
- Be super-comfortable with your scripts, especially those that help you to handle the objections that come with the territory.
- Be more knowledgeable than other agents about a particular area; uncover nuggets that others might miss and will set you apart.
- Be prepared with a well-defined pricing strategy driven by market dynamics and your interpretation of market data.
- Always be listening; understand your prospects needs, concerns and fears.
A solid value proposition can differentiate you in the hyper-competitive world of real estate sales. It will be worth your time to reflect on the qualities that make you better than the next agent, and that define your value proposition.