Let’s do a little role playing today! Here is how we will do it. I’ll pretend to be a potential client looking to hire a real estate agent.
Let’s agree that you and this potential client live in a desirable area where home values average around $1,000,000.
In that area there are approximately 3,500 members of the local Association of REALTORS®. For the sake of argument let’s assume that 25% of them work in the zipcode that is “yours”. That’s 875 potential competitors.
Of those 875 agents, let’s assume that the 80/20 rule applies. That means that 175 of them are getting 80% of the business.
So, are you one of those 175 local agents who are getting the business? If so great, keep up the good work, you are obviously doing something right.
But, what if you are part of the 700 agents scrabbling over the remaining 20% of the business?
How can you stand out? How do you convince that potential client to meet with you? How can you earn their business?
One way is to participate in the reduced commission race to the bottom by offering to work harder for less money than any other agent. This certainly will get you business in the short haul, but others will be doing that too.
The end game there is that you will soon be working for less than you could earn in a salaried job. And that would defeat one of the perks of being a commissioned sales agent.
So let’s go back to the role play. We meet, through a friend, or at an event, or as a result of your prospecting activities. Since I am a savvy consumer, I know about all of the real estate agents in the area that are “killing it”, but I want to look out for my best interests in my upcoming transactions, so I ask you this simple question”
“Why should I work with you?”
Let’s stop right there. Your answer to this question will have a major impact on whether they decide to hire you, or to move on to someone else.
The answer is known by several different names that you have heard before. Elevator pitch, unique selling proposition and value proposition are the best known names.
So, what is YOUR value proposition? Can you say it at the drop of a hat, so to speak? Is it clear, is it concise, it it actually useful?
To help you build your value proportion I’ve gathered 3 resources that will help figure this out. I have included one from with in our industry, but I think that there may be more unique value in the two that I found from outside of our industry.
In each case I have excerpted something from their website and then given you the link to learn more.
1. First up is a post from Wordstream, a blog devoted to tips and tricks to help you get the most from online advertising.
7 of the Best Value Proposition Examples We’ve Ever Seen
https://www.wordstream.com/blog/ws/2016/04/27/value-proposition-examples
Your business’s value proposition is arguably the most important element of your overall marketing messaging. A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset.
Unfortunately, many businesses either bury their value proposition in buzzwords or trite, meaningless slogans, or don’t bother highlighting it on their site and in their marketing campaigns – or they don’t figure out what it is at all!
2. Next is a very detailed post from Shopify. If your haven’t heard of them before let me just say that they allow people to create online stores on their platform. All of their clients need value proportions to help their online stores stand out.
Value Propositions: What They Are and How to Create Them (with Examples)
https://www.shopify.com/blog/value-proposition
Why do your customers buy from you? What motivates people to choose you, to choose your products over the hundreds of alternatives? What makes your company, and your products, better than the rest?
The answer: your value proposition.
If you can perfect your value proposition, you can increase your conversion rate and improve your marketing strategies across many channels. Learning to present the value your company and products deliver in a compelling way is one of the most high-value, wide-reaching marketing activities.
3. Finally, one from within our industry. If you haven’t heard of Breakthrough Broker, you are in for a pleasant surprise. They provide great resources to help you become a successful real estate agent at no cost to you! Check it out!
Five Steps to an Undeniable Value Proposition
https://www.breakthroughbroker.com/value_proposition_for_real_estate_agents#.XM2emS-ZOek
In order to stand apart from your surrounding competition, you need to have a value proposition that is undeniable to potential clients.
To achieve this, you must deliver a not-so-unique service in a very unique way. There are an estimated two million licensed real estate professionals in the U.S. alone.
What value do you bring your clients that they simply can’t get elsewhere?
So, there you have it. Three really good resources to help you craft your unique value proposition. You REALLY do need to have one, so why not take the time to create yours now?
If you’d like some help on this, I’ll make you an offer. I will be happy to coach you through the process by reading what you write and offering suggestions to improve it.
Since I believe in helping action takers, this offer is FREE to the first 5 people who send me an email with your first draft. So, better jump on this now as this post will potentially be seen by over 2,000 agents world wide!
Send your email to help@jerrykidd.com
