Posted by David Bennett
Fri, 09 Jun 2006 18:55:00 GMT
Be Unique. If there is nothing that differentiates you from your competition you become common. Webster defines the word common as, "ordinary or not special" and the only way consumers select one common service over another is price.
Take inventory of your skills, experience and knowledge. Are you a specialist in some geographical area or type of property? Are you an expert in IRS Code Section 1031 exchanges or first-time homebuyers? These and other differentiators can make you unique and valuable to a select group of clients.
Posted in Identify how you create value, Be Unique
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Posted by David Bennett
Wed, 07 Jun 2006 14:08:00 GMT
The California Association of Realtors’ research on Internet buyers provides the following information on the reasons for satisfaction with the agent they used:
- Always quick to respond
- 97% - Internet buyers
- 37% - Traditional buyers
- Worked hard on my behalf
- 75% - Internet buyers
- 41% - Traditional buyers
- Helped find the best home for me
- 52% - Internet buyers
- 58% - Traditional buyers
- Listened to what we needed
- 30% - Internet buyers
- 63% - Traditional buyers
- Negotiated a good deal on my behalf
- 52% - Internet buyers
- 36% - Traditional buyers
- Kept me up to date on the transaction
- 20% - Internet buyers
- 41% - Traditional buyers
- Made sure changes/repairs were taken care of
- 10% - Internet buyers
- 30% - Traditional buyers
Posted in Consumer Research, Internet Buyers, Other Research
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Posted by David Bennett
Wed, 07 Jun 2006 14:17:00 GMT
In the Internet buyer research done by the California Association of Realtors, consumers reported on their level of satisfaction with various aspects of the home buying process. These ratings are on a scale of 1 to 5 with 5 being "Most Satisifed" and 1 being "Least Satisifed"
- Information on neighborhoods, schools, crime, etc.
- 4.73 - Internet buyers
- 4.23 - Traditional buyers
- Understanding the home buying process
- 4.62 - Internet buyers
- 4.28 - Traditional buyers
- Your real estate agent’s negotiating skills
- 4.57 - Internet buyers
- 4.16 - Traditional buyers
- Your real estate agent’s assistance in searching for a home
- 4.72 - Internet buyers
- 4.10 - Traditional buyers
- How well your real estate agent kept you informed
- 4.64 - Internet buyers
- 3.93 - Traditional buyers
- Overall process of finding a home
- 4.82 - Internet buyers
- 4.13 - Traditional buyers
- Value recieved for what you paid your real estate agent
- 4.11 - Internet buyers
- 4.18 - Traditional buyers
- Overall satisfaction with your real estate agent
- 4.88 - Internet buyers
- 4.31 - Traditional buyers
Posted in What satisifes buyers, Consumer Research, Other Research
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Posted by David Bennett
Wed, 07 Jun 2006 15:34:00 GMT
How to Build Your Credibility Through Testimonials
by Joeann Fossland, GRI, LTG, Master Certified Coach
Testimonials are one of the best ways for you to communicate your value to your prospects. A third party endorsement always carries more weight than you tooting your own horn. I find many agents pass up opportunities to build their testimonial pool.
Here are some suggestions to leverage your results:
- Listen for the testimonial. When someone says something in praise of your efforts, ask immediately if you can use their wording. Say something like,"I’d love to be able to quote you. We like to let others know how committed we are to delivering superior service." Set up a file for these comments.
- If you are with them and they say yes, just jot down what they said and ask them to sign it. Marilyn Urso, of Long Island Village Realty in Syosset, NY uses the time at settlement when the copies are being made to ask for a testimonial. She builds her advertising campaign around these endorsements.
- If they praise you in a phone conversation, send them off an email confirming what they said asking their permission for you to use it as a testimonial.
- In your pre-list package, include some testimonials matched demographically or psychographically to the prospect you are wooing.
- Create a book with all your testimonials in it. Take this on your listing appointments.
- Post testimonials all over your website. It would be fine to have one on every page relating to the topic of that page.
- Use pictures. Gary Scott with John Hall and Associates in Phoenix tells me he calls them picturemonials! Put the client in the picture!
- Even better, use audio! Record what they say. If you are carrying your laptop or tablet computer with you, take advantage of the built in microphone and let them say it themselves. This can be posted in a wav file to your website or sent in an email!
According to the 2005 Home Buyer and Seller Profile from NAR, relationships account for 71% of seller choice of an agent and 55% of buyer’s choice! You’ll find you build trust by using the experiences of real, live people and it will be easier to build relationship with the new prospect. Make it easy for people to know what you do well and why they should work with you! Plus, doesn’t it just feel good having people say nice things about you?
About the Author: Joeann Fossland GRI, LTG, Master Certified Coach is a dynamic speaker and business coach. Creator of THE REAL ESTATE GAME?, her coaching solutions enhance your effectiveness and life balance. You can subscribe to her free monthly newsletter, attend free monthly telephone seminars, and find out about classes delivered by email and personal coaching by visiting joeann.com. To learn more about having Joeann speak at your next event, please visit www.BrokerAgentSpeakers.com.
Posted in Testimonials, Develop Key Message
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Posted by David Bennett
Mon, 05 Jun 2006 17:15:00 GMT
It’s important when developing your value proposition that it be clear and concise.
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It’s best to start by brainstorming
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Focus on what needs your target demographic group have in common. This can be done by market research.
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What do they all want that your business can provide?
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What is important to them?
Once you’ve found the common denominating need, you can determine what it is that they are in search of and develop your value proposition around that need.
Keep in mind that the purpose of your value proposition is to identify and satisfy an unmet need that your target market possesses.
Why is the development of your value proposition important?
The answer to that question is easy. Your value proposition can equip you with the following benefits to your business:
- Create a strong differential between you and your competitors
- Increase not only the quantity but the quality of prospective leads
- Gain market share in your targeted segments
- Assist you in enhancing tools that will help you close more business
- Improve your operation efficiency
You can get started developing your value proposition today. Just remember that an effective value proposition describes what you do in terms of tangible business results. It draws interest and shares a success story within a few words.
Here is an example of a value propositions that gets your attention:
Our clients grow their business, large or small, typically by a minimum of 30-50% over the previous year. They accomplish this without working 80 hour weeks and sacrificing their personal lives.
Posted in Create a Value Proposition, Develop Key Message
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