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• Aug. 1, 2006 - Your Unique Value Proposition

YOUR UNIQUE VALUE PROPOSITION

If you attend training sessions once in a while, you have heard the term "unique value proposition."

It is what differentiates you from your competition, but more important, it's what you can use to justify a full commission when confronted by a Seller who is asking for a discount.

To define what a UVP is, let's break the term down by word:

Unique refers to the characteristics of your service that distinguish it from your competitor's. You need to come up with things that you offer that set you apart from other Realtors. Take the time to write it down, understand it and practice describing it;

Value refers to the worth that these "unique services" have for the client. In other words, it's what the clients get for the commission they pay you. Write it down;

Proposition, according to the Merriam-Webster dictionary is, "a statement containing only logical constants and having a fixed truth or value." This sums it up, it is a truthful and factual proposal to your clients. Being able to list the value of your services and to set yourself apart from the competition by providing services that others don't provide, is the key to getting a contract signed and no complaints about the amount of the fee charged.

Can you change your value proposition? You not only can, it is a good idea to do it as frequently as you can, depending on the client's needs or perceptions.

When I go on a listing appointment and I know there is another agent or agents being interviewed, I write out my UVP. Guess what? It's usually different every time.

I try to pick out things that I know my competitor won't be offering. This ranges from the advantages of being part of a team, the advantages of not being part of a team, print media where you advertise, websites that you feature the listing in, languages you speak, knowledge of the neighborhood the property is in, the amount of listings you have sold in the area, or during the year.

If you are a new agent, you can mention how eager you are to sell a house, how much time you have to dedicate to this particular listing, how you have the support of an experienced Realtor to guide you (Sydnee, our new Assistant Team Leader) and how we have over 140 agents in our office just waiting to help sell the house.

You get the picture...A UVP is the reason some people shop at Saks 5th Avenue and not Ross and why some people do their grocery shopping at Whole Foods Market instead of Winn Dixie.

I hope this motivates you to take the time to think about your UVP and write it down!

Thanks for reading. If you have any suggestions for a future blog item, please e-mail me.

Oscar Resek is an agent -partner at Keller Williams Realty - Northeast. Oscar works with Buyers and Seller from Coral Gables north to southern Broward County, including Miami Shores, Shorecrest, Belle Meade, North Miami and Miami Beach. Please visit the Resek Group website at www.theResekGroup.com.

 

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• Aug. 2, 2006 - re: Your Unique Value Proposition

Posted by Anonymous
Excellent points, Oscar. Every opportunity offers a chance to come up with a UVP. Thanks for telling/reminding us!
Ginger
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• Aug. 2, 2006 - re: Your Unique Value Proposition

Posted by Anonymous
Oscar,

You've hit the nail on the head. I have always believed that what will be the clincher in being chosen to list a property, or getting your offer accepted, or being picked to be the buyer's exclusive agent, is not how much you will be "charging", but what you will be bringing to the table that the next agent will not; in other words, your UVP. I've always believed that in order to be successful, along with many other factors, you need a unique brand.

Thanks for the interesting topic.

Marc
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• Aug. 2, 2006 - re: Your Unique Value Proposition

Posted by Anonymous
excelent!

thank you for the info!
Sergio
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• Aug. 2, 2006 - re: Your Unique Value Proposition

Posted by Anonymous
Oscar,
Thanks for inspiring us to think about our UVP - It certainly is something we need to keep thinking about and re-evaluating. As you all know we have incredible training and this is a great topic. Susie
PS: Everyone please come to our training
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• Aug. 2, 2006 - re: Your Unique Value Proposition

Posted by Bonnie Erickson
UVP is a new term to me despite my attendance at numerous training sessions.  They all have the same concept just not using the same descriptive words.  Some call it "value added".  Some just ask what makes you different from others.  Sometimes that's a hard question to answer as we all have access to the same MLS, the same web, the same tools, BUT it's how (or if) we use them that gives us the added value or UVP.  You're not doing too bad with the number of comments for a brand new blogger!  Welcome to the blogosphere!  Give yourself a couple weeks and check my entry on blogoholics.  You'll have to see if you've got the bug! Bonnie
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