As a real estate agent, standing out from competitors is a top priority. This is especially true in a market environment where listings are few and far between. With the slice of pie getting smaller, and more agents showing up at the table, what can you do to protect your business, and grow your market share?
Inman recently addressed this in an article by Toby Salgato, and it gives us a starting point for the conversation. Here is a highlight, along with our own advice!
To set yourself apart, you must determine your unique value proposition, and then market it consistently. Your unique value proposition can include:
- Your professional background, experience and education
- Your package of services
- Your local market area expertise
- Your ability to digest statistical data and form market projections
- Your ability to educate and guide your clients throughout various market conditions
- Your team, administrative staff and internal resources
- Your talents and intuition
- Your technical aptitude
- Your professional network and external client resources
- Your reason for being in real estate
Having worked with real estate professionals at every end of the spectrum, we understand that no one wants to turn any business away. Most agents who specialize in working with home sellers are also willing to represent home buyers. Luxury agents who specialize in properties valued over one million dollars will still accept a $300,000 listing. Agents are naturally concerned about alienating any potential client. This is why some of them hesitate to define a unique value proposition, or put real distinction in their personal branding.
From a marketing standpoint, it may seem instinctive to cast the widest possible client net over the largest possible market territory. This is a “McDonalds” strategy that can produce a number of one-time transactions, but it isn’t the best way to add depth to your business, or distinction to your brand. And in a low-inventory market, the numbers game is not a sustainable model.
Instead, we challenge you to think about the following: What do you do differently? What type of client best matches your personality, your set of skills, your talents and market focus? What are you passionate about when it comes to real estate?
Think about the clients you have helped, and the nature of the transaction processes involved. Some agents do not have the patience to specialize in first-time buyers. Others are not happy working with property investors who are hyper-focused on price. Be honest with yourself. Whatever you enjoy most about this business, is where your focus should be, and your unique market value proposition should reflect this.
Not all agents are cut out to work with every type of client. Nor are all agents suitably qualified to represent every niche of the business. Defining your Unique Value Proposition enables you to produce effective branding and marketing to attract the ideal clients for your business focus. In turn, this enables you to become more profitable!
Ready to define your unique value proposition, and update your branding? Let RealSupport help you! Contact us today for your personal consultation.
Copywriting & Marketing Specialist