A value proposition is a tool to attract leads and convert them to clients. In real estate, a value proposition is a key to luring potential clients away from the competition by giving them value-added service that targets their specific needs. A real estate value proposition answers the question — “What makes a client pick your services over others?”
It clearly defines the unique benefits of your services. This is a key part of the message that you need to put forward. When potential targets see this when browsing online. this will capture their attention and set you apart from your peers and other agencies.
The rule you must always keep in mind is that it should be more valuable than the rate of your service. This is the only way to secure that your target clients will choose you over competitors. The price point is just one feature. There are other qualities clients look for. Here are some qualities that they may be looking for aside from the price rate of services:
- Quality — Your quality of service might be more important to them than just your rate, by providing quality beyond their expectations. How will potential targets know this? Through reliable feedback and reviews of other clients; and how you respond to queries.
- Speed in achieving results — Speed in achieving results is not limited to buying and selling, but the whole process – from assisting with paperwork to dealing with government regulations and other details that make up the whole.
- Proficiency in finding solutions — Buyers and sellers are unique; they may require specific assistance for the issues they face – credit rating, probates, and legal matters. Your specialty can provide them with the specific assistance they need to buy or sell a property.
- Reputation and credibility of your brand/agency — Leading brands know that they are worth it. They know their value proposition based on their established reputation and credibility. They’ve painstakingly built it, one client, at a time.
For clients, value proposition optimizes the costs, hastens the process of acquisition or disposal, and solves underlying issues they are encountering.
A clearly defined real estate value proposition will be your tool in growing your agency, by:
- Creating clear goals through value proposition. Your real estate proposition helps in defining clear business goals and objectives, as well as in achieving them. The proposition and business goals are closely related and work together in gaining attention and conversion. Thus, this helps you realize your goals and objectives.
- Through the value proposition, you can build on your client base, establish loyalty and relationship with past clients. With loyal customers, you are also increasing word-of-mouth marketing through referrals. By reading the proposition, target clients become curious about how you can help them with your real estate expertise.
- Reducing agitation or doubt from your present client base. Because you’ve established the services offered and the value that optimize costs for the client, you are reducing or erasing doubts of your current client base. They trust you and your skills and abilities to see them through their buying or selling journey.
- Real estate value proposition helps you compete with other agents/agencies by showing clients your service leverage. This also helps you connect with them through their specific requirements. Relieving them from their buying or selling issues. The attention and care you give each client will set you apart from the rest.
How to Write an Irresistible Real Estate Value Proposition:
1. Research the real estate market to know the current competition and consumer issues and behavior
Market research will give you a deeper understanding of your skills and what differentiates you from other agents. You will be able to craft a value proposition knowing your unique skills and qualities. For example, you have experience in property management before going into real estate. This gives you the skills in guiding buyers and sellers on the administrative aspect of owning property including the upkeep and spotting the areas that need extra attention/repairs. New home buyers and sellers appreciate an agent with experience in property management to help with the queries in looking into houses and in selling – determining repair priorities, home improvements, and dealing with government regulations.
2. Market research will also show the current issues or problems within your niche
You can begin your value proposition by stating your expertise in your specific niche. Following the example of being a property manager, you will be able to help first-time home buyers and sellers more. Put this in your real estate value proposition.
3. State the benefits that the clients will get from your services
By putting the benefits front and center in your value proposition, you are establishing your trustworthiness in delivering what they want. The key is making a statement that centers on the client’s real estate goals and/or present issues. Example -, “My skills and expertise in property management are my guarantee that I am efficient in supporting your real estate goals and dreams. Transforming a structure to your dream home or maximizing profit margin in the sale of your property.”
4. Establish a personal connection with your targets
What can be personal connections? Some might include being a member of the community that you have listings or understanding real estate problems clients face such as credit standing; previous mortgage issues or inherited property. What is in your experience and skill box will be able to connect with target clients? Include this in your value proposition. For example, aside from being a property manager, you also assisted in probate sales or cash sales of property.
5. Include your previous achievements in your real estate value proposition
You want your clients to know your skills and experiences to gain their trust. So that they know that they are in good hands and you will take care of their real estate needs. Achievements can be in any field, just so it shows your success and recognition. What matters is showing your character. This is the backbone of your value proposition. For example, “During my stint as a property manager, I was the secretary of Property Management Council of San Diego. My role was to help managers connect and help each other with administrative, government regulations and pooling skilled/trade services helpful in the upkeep of properties.” This shows your connection, experience, and expertise that can help new and first-time home buyers and sellers.
6. Update your value proposition regularly
You are continuously evolving in your career. It is only fitting that your real estate value proposition should reflect this. Regular means on a quarterly or bi-annually or anytime you’ve achieved something or have been able to reach a personal and professional milestone that you think will add to the roster of added value to your service.
In conclusion, let’s put together the examples into one value proposition for a real estate agent:
I’ve been in the real estate business for 9 years; helping new and first-time homeowners find the ideal nest to start a new chapter in their lives in a new community. I’ve assisted in more than 25 sales of both residential and commercial properties. My background in property management helps first-time owners in pushing through their real estate objectives whether it’s buying or selling. During my property management stint, I was also an active member of PMC-San Diego, holding the role of Council Secretary – connecting members and helping them with administrative issues, government regulations, and setting up a pool of trades and skilled service providers for property upkeep.
I am efficient in supporting your real estate goals and dreams, helping you to transform a structure into your dream home, or maximizing profit margin in the sale of your property.