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Defining Your Unique Value Proposition

By Bryant Tutas

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

July 03, 2009 01:45 PM

Polly want a cracker? Hi folks. OK so Wendy and me are now "Official Short Sale Instructors." Even though we are instructing we are also learning. We are learning how to work together and how to market our new business. With any new business venture one of the first things you want to define is your "Unique Value Proposition".

Your Unique Value Proposition is:

Clearly identifying how your products and services are different from your competition.

Basically, you have to know what sets you apart from your competition. Whether you are selling houses, Webinars or widgets, if you don't have something unique to sell, you will struggle. You will get lost in the mix of ordinary.

And.....it's NOT necessarily the product that has to be unique. It could be the marketing (Think Geico). It could be the delivery (NetFlix). Or, of course, it could very well the product (Swiss Army Knife) .

Whatever business you are in you MUST be able to answer the question......

"Why should your ideal customer purchase from you rather than from anybody else?"

On our quest to answer this question, Wendy and I keep getting back to this answer....

"We are both full-time, working Brokers who list and sell short sales, all day, every day."

So what is YOUR Unique Value Proposition? Do you know?

WHAT OUR STUDENTS ARE SAYING

"I’ve completed lots of training but feel yours was most valuable in your method of approach and delivery. The dialogue made it feel like I was in an actual brick and mortar classroom with real live scenario." Wendy Weber, Realtor, Scottsdale, AZ

"Your webinar was very impressive and informative. I feel that it didn't come across as a lecture, but good and clear conversation. The short sale is a very complex process, but you have made it much clearer and there was a lot of useful information." Richard Barton Real Estate Investor

"I am really glad you guys are doing this, I was looking for a class taught by practicing real estate brokers." Jana Hristova

"I enjoyed the SS session 1 yesterday and look forward to the next 4. After Wendy’s comment about the lame duck DOD HAP program yesterday I decided to blast my Congressman and 2 Senators an email blasting DODs inaction as a Citizen, Veteran and Realtor serving military clients." Don Duft, REALTOR®

"I just wanted to thank you again and let you know that you and Wendy did a fabulous job! I’m really looking forward to the next one." Debe Maxwell, Realtor®/Broker

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Heather the Realtor Orlando, Lake Mary

LemonTree Realty - Orlando, FL

First Time Home Buyers, Bank Owned Homes

Bryant that is great to hear. I guess I know who to come to when and if I ever get back into short sales. But I agree agents need to figure out their position and market it.

Jul 03, 2009 03:00 PM

Christine Donovan

Donovan Blatt Realty - Costa Mesa, CA

Broker/Attorney 714-319-9751 DRE01267479 - Costa M

I agree; unique value propositions are an important way to differentiate yourself when thousands of other people are doing the same thing.

Jul 03, 2009 03:48 PM

Roland Woodworth

Blue Cord Realty - Clarksville, TN

Blue Cord Realty

Sounds like you had a great class... Short Sales are much different. I enjoy working them although they do take additional time and patience.

When will your next class pickup ?

Jul 03, 2009 04:07 PM

Lisa Hill

Florida Property Experts - Daytona Beach, FL

Daytona Beach Real Estate

I have excellent communication skills, and I'm very creative in my marketing due to 3 years of art lessons. When you combine a personality that's both strong and personable, with excellent communication skills, then add a dose of superior marketing, you have a well-rounded agent who is able to adapt to the circumstances and brainstorm whatever situation arises.

I have more, but I think I'll use it to write another blog post. Thanks for the idea =P

Jul 03, 2009 04:11 PM

Sharon Alters

Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL

Realtor - Homes for Sale Fleming Island FL

Bryant, great point! You have to believe you are the best and be able to communicate that to your prospective customers/clients. One of our strongest points is that we keep re-inventing ourselves, reassessing what works and what needs to change, so we adapt to whatever market we find ourselves in and help our buyers and sellers be successful in today's market, not the market they wish it was.

Sharon

Jul 03, 2009 04:21 PM

Rene Fabre

ARFCO Media - Renton, WA

Practicing Philosophical Eclectic of the Arts

move over jimi... Rene brought his strat! We be jammin'...

Awesome points well made... believe believe believe and serve...

ITM Haiku...

Marketing like art.

Takes vision skill commitment.

Success can be yours...

Jul 03, 2009 04:31 PM

Paula Swayne

Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA

Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Bryant!
You couldn't be more correct...if you can't differentiate yourself from the crowd, you will remain in the crowd. Personally, I want to be the one holding up the sign!

Jul 03, 2009 05:33 PM

Katerina Gasset

The Gasset Group & Get It Done For Me Virtual Services - Provo, UT

Amplify Your Real Estate & Life Dreams!

Bryant- Most people want to be general for fear of losing a customer. However, when you really niche down, drill down- you actually make more money and profit because you are defining your market. People respond to that. Good luck in your new biz venture with Wendy. You both have great personalities and that has a lot to do with how well you are received by the attendants in the webinars.

Jul 03, 2009 05:38 PM

Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

Broker Bryant - This is something I have been trying to come up with for a while now. It is not coming to me very easily.

Jul 03, 2009 07:00 PM

Allison Stewart

St.Cloud Homes - Saint Cloud, FL

St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904

I think a lot of people struggle with this question. Looking for the "hook" - it helps to have someone to bounce ideas off of until you find the one that sticks and best describes what you do. Still working on it.

Jul 03, 2009 09:53 PM

Fernando Herboso - Associate Broker MD, & VA

Maxus Realty Group of Samson Properties - Clarksburg, MD

301-246-0001 Serving Maryland, DC and Northern VA

I'm considering using your services . . .thanks for the reminder.

Jul 03, 2009 10:51 PM

Judy Chapman

Referral Network of Illinois LLC - Chicago, IL

Once we define our Unique Value Proposition, we also define our customers. And once we define our customers, we have zeroed in on our goals.

It all fits together very nicely. Thanks for the insight, Bryant.

Jul 03, 2009 10:55 PM

Bryant Tutas

Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL

Selling Florida one home at a time

Good morning everyone. Defining our Unique Value Proposition (UVP) is not easy.

The first step is to figure out who your ideal customer is. I read a book last year titled "The Answer". I didn't finish it because it lost my attention BUT they had quite a few chapters on figuring our who your ideal customer is.

In my real estate business. This ideal customer has changed quite a bit over the years. My entire business has changed directions over the last 2 years. I have gone from being 100% a listing Broker to having about 50% of my business right now being Buyers! Finding my UVP is proving very difficult.

Wendy and I were able to define our UVP quickly. I don't think we we were necesarily looking for one we just kept getting back to it. It made sense. We are not so much selling webinars as we are wanting to help agents learn short sales so they can help others.

Maybe we should all really think about oiur UVP this weekend. Put it in writing and place it near your desk so you can see it everyday. Come back and let me know what you come up with. Better yet....write a post about it.

Connie, Training the lenders is a GREAT idea!!!! I wonder how we could do that.

For those that asked, the Short Sale Basics webinar can be joined at anytime. You do not have to attend live. All 5 classes are being recorded. So you can join at any time and we'll catch you up. We designed this webinar so you can learn at your own pace. You can register by clicking on the link up there or sending us an email at shortsalebasics@gmail.com

Have a GREAT 4th of July!!!!

Jul 04, 2009 01:02 AM

"The Lovely Wife" The One And Only TLW.

President-Tutas Towne Realty, Inc. - Kissimmee, FL

I have a thought...

Some of you may wish to consider asking your current customers what they believe your unique value is. That may very well produce some results that will help guide in the right direction.

Okay...That's it for me. Don't tell BB I'm talking Real Estate. It can be our little secret :)

TLW...ROAR!

Jul 04, 2009 01:16 AM

Diane Aurit

LKN Realty, LLC - Mooresville, NC

Lake Norman Real Estate

Very timely topic for me and I love TLW's last comment as I have been doing just that. Why? Because I am in the process of designing and creating my own firm. Now it is all about me because I am not going to have any other agents...yet. So, all of my branding is about expressing my unique value. It is so exciting! I know you have had your own business for years and you do an excellent job of branding!

Jul 04, 2009 01:34 AM

Wendy Rulnick

Rulnick Realty, Inc. - Destin, FL

"It's Wendy... It's Sold!"

By the way, Bryant, last night there was a special - "How to sell your product to Oprah" THAT would really help our value position!

Jul 04, 2009 02:39 AM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

BB, standing out, differentiating yourself from the masses, puts you far ahead in the game of business, and in life as well. Great point!!

Jul 04, 2009 04:10 AM

Teresa Boardman

Boardman Realty - Saint Paul, MN

LOL thanks for sharing BB.

Jul 04, 2009 06:28 AM

Lisa Hill

Florida Property Experts - Daytona Beach, FL

Daytona Beach Real Estate

I commented here yesterday. But since you & TLW are insisting that I ask you a question, I just added a little something for you, at the bottom of my comment stream =P

Jul 04, 2009 11:35 AM

Elizabeth Weintraub Sacramento Broker

Elizabeth Anne Weintraub, Broker - Sacramento, CA

Put 40 years of experience to work for you

Hi BB: I've experienced the same thing -- I was mostly taking listings but lately it's been 50% buyers. In fact, it helps me with my listings, and that's what I told a seller yesterday in Campus Commons (Sacramento). That my work with buyers lets me look at the listing two different ways -- from a seller's perspective AND from a buyer's perspective, so I can market directly to buyers. I know what their hot buttons are. If all you ever do are listings, you can lose touch with what buyers want.