Real Estate Prospecting and Your Value Proposition
Real estate prospecting pits you against the world, every other hungry real estate agent looking to nail down the next prospect and close the next deal. Everybody’s aggressive and promising the moon. Everybody is selling their passion and attention to detail. So, why should the prospect listen to you? What sets you apart from the field?
The key might lie in having a well-defined value proposition. A value proposition is a statement about what makes you unique vis-a-vis other agents. In short, it explains the benefits you bring to every potential transaction.
Let’s look at some of the factors that go into defining your value proposition.
DO YOU OFFER SOMETHING UNIQUE?
This is the biggest challenge for most agents. How can you truly differentiate yourself versus the next person who sits with a prospect? Well, the answer may lie with how much you are willing to invest in creating offerings that differentiate you, such as:
- Can you offer professional photography?
- Are you willing to pay for pre-inspection expenses?
- What are you doing to help with staging?
- Is there anything you can do to pre-approve a loan?
There may be other items to include on this list, but you get the idea. If everyone is telling a prospect essentially the same thing, what’s the one thing (or more than one thing) that sets you apart?
HOW DO YOU PRESENT YOURSELF?
You’ve heard the saying: “you don’t get a second chance to make a first impression?” Your “presentation” has a tremendous influence on how prospects perceive your value as an agent. You need to invest in high-quality leave-behind materials for a new listing, FSBO and new buyer packets. If you aren’t already doing so, engage a professional graphic designer and a freelance writer to help craft your unique story. And make no mistake, real estate prospecting is all about story-telling, And don’t be afraid to show some personality when telling your story.
DO YOU PRESENT YOURSELF AS AN AUTHORITY?
How do you convince a prospect you are an authority worthy of their trust and business? Here are a few thoughts:
- Look like an authority when you walk through the door, in your attire, grooming, posture and, above all attitude.
- Be more knowledgeable than other agents about a particular area; uncover nuggets that others might miss and will set you apart.
- Have a well-thought-out pricing strategy driven by your first-hand knowledge of market dynamics and your interpretation of market data.
- Always be listening; understand your prospects needs, concerns and fears.
When it comes to world-class real estate prospecting, a solid value proposition can differentiate you in a competitive marketplace. So, what are you doing to define your value proposition?