November 16, 2016 by Jeff Lowen
Do you have a value proposition? Try this: Do you know why your clients choose to work with you instead of the competition? Can you articulate this competitive advantage and use it as a tool to help you grow your business? Do you mind if I share what a value proposition is, why they are important, how to create one and how to utilize it in your marketing effort?
It’s important for business owners, team leaders and individual agents to have value propositions. The cool thing about real estate, or not so cool, is that ou can come up with one that stipulates your own unique gifts, incorporate some or all of your company’s, or any combination of value you feel would be advantageous to your potential clients.
Why someone would want to work with you is a question I asked many times of agents when I coached and mentored them in a classroom setting and many times the answer was something that looked like a deer in the headlights.
Is that you? If you’re reading this right now and asking yourself why would someone want to work with me, then you’re on the right track… Just asking the question begins to get the juices flowing toward an idea, and subsequently how to articulate it so it allows your prospective clients to connect the dots from where they are with their problem to you being the most viable answer for them. That’s a very good place.
So, what is a value proposition? It’s simply a short sentence, that communicates your passion for your vocation and how it can help the person you’re speaking with. There are many books written on this and you can make it as complicated as you’d like, but I like to keep it simple. How you craft one, is by listing what you bring to the table. Do you communicate well? Are you full of energy? What did you do before real estate? What do you like to do that might be incorporated into something that would help your clients? Asking a series of questions that determine who you are and what you find valuable in someone like yourself may open the door to ideas about a simple outline as we move on…
Why is a value proposition important? If you were the only agent in the world, this would be easy. Every part of the country I go, agents tell me that their particular market is flooded with agents. They’re everywhere. So what make you stand out in a sea of noise? If honesty, integrity, truthfulness, and loyalty are all you’ve got, listen up: These are staples. Benchmarks of what EVERY agent better have before they step into the arena of business! In order to be noticed, you have to be noticed and compel people to want to do business with you.
I touched on how to create one in the ‘what is a value proposition’ paragraph above. To go further, now that you’ve got some ideas of who you are and what you might bring to the business, it’s time to begin to craft your unique value. Ask other agents – the busy ones. You might have to take them to lunch or coffee to talk with them, and if they aren’t busy, you probably don’t want to heed anything they say. Also, ask your past clients, if you have any, about what they felt you did well, and what they felt you could’ve done better. Yeah, it’s a tough question to digest, but making your clients feel comfortable and confident around you will help tremendously.
Here’s a side note: If your value is cutting your fee or has to do with money, you will eventually paint yourself into a corner and find yourself working for clients that don’t see a value in you beyond the dollar. If you’ve read any of my previous articles, you’d know when it comes to buying or selling real estate, it’s rarely about the money!
That doesn’t mean you can’t incorporate something that saves or gets your clients more money, just don’t affix your intrinsic value to money because you’re worth more than money. You are worth your weight in gold x10 because your gifts, management, and marketing skills are perfect for your clients, their particular challenges and the timing of which they need things to happen. Which equates to less stress, headache and they can focus on their lives, not the roller coaster of a real estate transaction.
How to put it all down into something that’s articulate and allows the venue to whom you are speaking with to connect the dots from their own problem to a seamless transition flavored as a brilliant solution is where you want them to go. Do that, and now you’re talking!
It’s easy to do the menial tasks of real estate and gloss over them with your clients without knowing if they really understand how what you’re doing is benefitting them. Be careful with Realtor-speak. Sometimes people just go along with what you’re saying because they feel they should know, but won’t ask if they don’t. So, make sure you’re checking in with your clientele regularly to help them connect the dots.
Once you can speak your value in a clear, concise and articulate manner that is digestible to your audience – Note, it is imperative you find out what it is your potential clients are looking for specifically, before you bombard them with all the many things you bring to the table. Having performance guarantees, a great value proposition, and a perfect presentation is great, but if your clients are looking for a smaller piece or something other than what you brought in your tool bag, then you’ll lose them because they are just not interested in something that they feel doesn’t apply to their situation.
Need help to create a unique value proposition? Reach out to me for a brief consultation and I can help.
Your clients deserve that, don’t they? And, happy clients mean a successful business that builds upon itself and makes you and your family happy too.