Does your estate agency business have an effective Value Proposition? If the answer is ‘yes’, then you’re part of a tiny minority. It’s true – plenty of businesses (64% according to Hubspot) do have a Value Proposition of sorts. But an effective one? That’s another matter altogether.
Research tells us that fewer than 3% of businesses create a Value Proposition that clearly sets out their offering as distinct from that of their competitors. The more competitive the sector, the more vital this is – and Estate Agency is more competitive than most. In this article, we look at why Value Propositions are so important, how to put them together.
What is a Value Proposition?
A Value Proposition is a concise summary of your services and how they benefit your clients. Crafting an effective Value Propositions isn’t as easy you might think. The best ones highlight in as few words as possible:
- What you do
- How you do it
- The distinct benefits your bring to your clients / the client pain-points you address
For example –
We use our unrivalled experience, up-to-the-minute digital marketing methods and friendly, customer-focused approach to make home selling and buying as smooth, affordable and hassle-free as it can possibly be
.
Not a Tagline, a USP, a Positioning Statement or a Mission Statement
Some businesses confuse their Value Proposition with a tagline. These are completely different concepts. A tagline is a memorable catchphrase – a few words that help make a brand stand out as part of a letter-heading, on the side of a vehicle or at the top of a web page. An example might be –
Smith & Smith Estate Agents
With you every step of the way
Neither is a Value Proposition a USP – a Unique Selling Proposition. Certainly, a Value Proposition can include a USP, as in our example above – our unrivalled experience, up-to-the-minute digital marketing methods, and friendly, customer-focused approach can be classed as a USP.
A Positioning Statement is something different again. This is where you would express how your estate agency services uniquely benefit your clients – in other words, how they resolve their pain points. In our example, the Positioning Statement is – to make home selling and buying as smooth, affordable and hassle-free as it can possibly be. As with a USP, it can make up part of a Value Proposition without being the proposition itself.
Don’t confuse your Value Proposition with your Mission Statement. A Mission Statement is a concise explanation of the reason for your business’s existence. It describes its purpose and its overall intention. The mission statement communicates purpose and direction to employees, customers and other stakeholders.
Why is a strong Value Proposition important for Estate Agents?
Most of your potential clients already know what they’re looking for when they start looking online. If it’s not immediately clear to them when they land on your website that your company can meet their needs, they’ll almost certainly look elsewhere.
A Value Proposition is important because it’s the single most important pillar on which you should base and market your brand. It’s the simple answer to the question –
What value do you bring to your clients?
Your Value Proposition gives the single biggest reason why a potential client should come to you rather than any other Estate Agent. Your Value Proposition needs to comprise the first words that visitors see on your website. It also needs to be your LinkedIn headline. Your Value Proposition tells potential clients all they need to know in a neat little nutshell.
Word your proposition correctly, and you’ll give yourself the best chance of attracting new clients.
What do you write in a Value Proposition and how do you write it?
Keep it simple.
As you write your Value Proposition, think about what you’d want to say if you were sitting across the table from a prospect, having an informal conversation. Avoid jargon. Don’t try to impress a potential customer with language they would never use. You’ll lose their attention – and their business.
Keep it clear
Don’t use vague language, such as ‘results-driven solutions’. Be precise and concise. This will make your VALUE PROPOSITION distinctive.
Focus on value
Your Value Proposition needs to convey the value of your offering. Although you may provide great customer service or a user-friendly interface, you need to highlight how you will enable your clients to achieve a specific goal.
When you sit down with a pen and paper and start the process of constructing your VALUE PROPOSITION, you need to –
- Think about your target customers and their needs. What kind of people are they? Make sure your Value Proposition addresses these as closely as possible.
- Make sure the focus is on how your services will benefit your audience. Include specific numbers or statistics if possible. For example, what percentage of homes are you able to sell within six weeks?
- Identify what differentiates you from your competitors. This will be your USP. Carry out some competitor research to find out what makes you stand out. What do they lack that you can provide?
Examples of Value Propositions
Boasting an impressive record of top performance in sales, John Jenkins and his team use their extensive local knowledge and business connections to make navigating the sometimes troubled waters of home buying and selling a smooth and successful journey.
- A Value Proposition doesn’t have to be expressed in conventional sentence form. A carefully constructed bullet list can do the job perfectly well –
- Dedicated agent allocated to you
- 7-day a week phone availability
- Strong marketing exposure
- Affordable fee structure
- Keeping it personal. When you’re promoting your services as an individual – perhaps on LinkedIn –
Through my seven years of estate agency experience, selling both commercial and residential property, I’m confident I can make the dreams for your home a reality. Whether you’re hoping to buy your first house or sell your commercial property to receive a nice return on investment, I’ll use my skills and expertise to advise you on the most effective buying or selling strategies and find you the best price. I’ll keep the process simple and hassle-free, allowing you to look forward to the next chapter of your life.
