Note: An earlier version of this article originally appeared on The American Genius in 2013. This...
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How to Create a Value Proposition that Makes the Phone Ring
You go to a listing appointment. You tour the home. You show the fabulous listing presentation that took you hours to make on your iPad, and you review the home values with the clients. Then, you learn that another “neighborhood expert” who is “not as nice as you” has agreed to list the home at the seller’s price and possibly even charge a lesser commission. What do you say? How to you respond in areas in which you cannot or will not compete?
It’s simple. You don’t respond, and you don’t compete.
When you demonstrate your value proposition, prospective clients trust what you say. They will not ask you to lower your rates and they will scarcely question your valuation. That’s because you have demonstrated the unique value that you provide that makes you the one to hire for the job.
In addition to mastering scripts on objection handling, if you want to work with clients more effectively, it is vital to understand your unique value. That is, you must be crystal clear as to why a prospective homebuyer or home seller should use your services instead of somebody else’s.
You have to present your value proposition in all of your marketing materials, and you need to address it when speaking with prospective homebuyers and home sellers.
You’ve probably heard that sellers and buyers listen to WIIFM radio, right? That is, they want to know “What’s in it for me?” Sellers and buyers want to know how your services will benefit them. They do not care much about your schooling and the number of awards you won last year—unless that will benefit them in their home purchase or home sale.
Your value proposition is why people will hire you instead of your competitors. It’s what you should be advertising and touting in all of your marketing materials or wherever you have the opportunity to sell your services.
Once you analyze and evaluate your competitors, you may identify areas where you need to adapt and change in order to offer a better range of services. Being acutely aware of where you stand in the changing marketplace will help you to both sell your services and also convey the unique benefits you provide. That way, the next time you go to a listing presentation, you may not even need to worry about the competition!
It’s simple. You don’t respond, and you don’t compete.
When you demonstrate your value proposition, prospective clients trust what you say. They will not ask you to lower your rates and they will scarcely question your valuation. That’s because you have demonstrated the unique value that you provide that makes you the one to hire for the job.
In addition to mastering scripts on objection handling, if you want to work with clients more effectively, it is vital to understand your unique value. That is, you must be crystal clear as to why a prospective homebuyer or home seller should use your services instead of somebody else’s.
What is a value proposition?
A value proposition is a clear statement that explains how your services solve problems or improve situations, delivers specific benefits, and tells the ideal customer why they should use your services.You have to present your value proposition in all of your marketing materials, and you need to address it when speaking with prospective homebuyers and home sellers.
You’ve probably heard that sellers and buyers listen to WIIFM radio, right? That is, they want to know “What’s in it for me?” Sellers and buyers want to know how your services will benefit them. They do not care much about your schooling and the number of awards you won last year—unless that will benefit them in their home purchase or home sale.
Generally, sellers and buyers are seeking benefits: money saved, money earned, exclusivity, customization, saved time, and increased exposure. All of these are things that customers want. How you deliver those things uniquely is where the rubber meets the road.So, before you go on your next listing appointment or work with your next buyer, you need to consider how you do things differently. Take time to stake out your competition or other people that sell homes in your area. Study their websites, their branding, their specialization. Check out their closings, and read online reviews of their services. Make a list of what they do, and then make a list of what you do. What’s on your list that is not on theirs? Well, that’s where you begin to identify your value proposition.
Your value proposition is why people will hire you instead of your competitors. It’s what you should be advertising and touting in all of your marketing materials or wherever you have the opportunity to sell your services.
Once you analyze and evaluate your competitors, you may identify areas where you need to adapt and change in order to offer a better range of services. Being acutely aware of where you stand in the changing marketplace will help you to both sell your services and also convey the unique benefits you provide. That way, the next time you go to a listing presentation, you may not even need to worry about the competition!
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