In real estate, competition is fierce and even the most dedicated and skilled agents are finding that it’s taking more than just their services to become well known in their market. This is where the USP comes into the mix to give real estate professionals a head start to being where they want to be. For those unfamiliar with the term ‘USP’ it’s short for Unique Selling Proposition which is essentially the one thing that enables you to stand out and attract your market which puts you on the path for success.
Unique Selling Propositions are certainly not new to the real estate industry, however they are often based upon propositions that are not unique and focus heavily on the process of selling. For example, we have seen many agents heavily market that they have low days on market which at first glance looks like a great thing to promote – however as a real estate agent you’re expected to sell homes and to sell them in a reasonable amount of time making ‘low days on market’ something that consumers readily disregard; and to make our point even clearer – how many agents and agencies do you know that promote that exact same thing? It’s not unique.
If you’re up to the challenge of developing or ‘renovating’ your USP here are a few things to consider:
- Your USP should have a focus on the benefits of your service rather than focusing on the features or process of what you do.
- Developing a USP takes time. Even if you have a certain idea on what your USP should be, take time to analyse it, talk to family and friends who aren’t in real estate and gauge their response as you may find that you end up with a totally different USP – and even if you don’t, at least you know your USP has been well thought out.
- Your USP needs to be authentic. If you’ve decided to use something along the lines of ‘coming from a long line of real estate agents’ as your USP but you’re the first in your family to be a real estate agent, your USP won’t get you very far.
Once you have taken time to finalise an authentic USP it’s time to establish how you’re going to deliver it to your marketplace. For this you will need to devise ways in which to communicate your USP and your marketing is one of the best places to start.
When in this stage we recommend the following:
- Establish what you have in your marketing repertoire and marketing that you don’t currently do but should be doing.
- Establish where messaging can be added in your marketing – for example, your monthly nurture email could include a footer that refers to your USP. The more places you can include your USP, the more effective it will be. This is down to patterns and how customers depend on patterns to recall information.
- Work out how you will communicate your USP – the type of language and copy you use to communicate and promote your USP is incredibly important, especially in regard to whether it’s as effective as it can be.
All in all, if you have a well fitting, authentic USP and you’re communicating it effectively, homeowners are substantially more likely to remember and prefer you over your competition.
Here at Identity Marketing we specialise in helping real estate agents uncover their brand to market it in effective ways. If you’re unsure of where to start when it comes to your Unique Selling Proposition, get in contact with us.