Kickstart Your Value Proposition Package
Lately, there has been a lot of talk about Realtors® representing buyers and how they need to level up the value they can offer and strategically present it to buyers. Many real estate practitioners across the nation think this will be crucial due to NAR's proposed settlement. Realtors® need to get granular and harness their supernatural sense of what consumers actually want!
While creating a value proposition package may seem complex, it's a straightforward process that can provide the structure and transparency needed to put consumers at ease. Let's explore what you might consider including and how to kickstart this process.
Risk Mitigation
A consumer study from 1000watt, a real estate branding & marketing agency, revealed that the actual value that Realtors® can truly offer consumers is risk mitigation. Today, consumers can easily find their dream home online in minutes from the comfort of their couch. In the past, Realtors® have strongly emphasized their ability to find their client their dream home, but that is not necessarily a significant value proposition anymore. However, the value that Realtors® offer lies in revealing what the average consumer does not know or can't see.
Risk mitigation kicks in by communicating to a buyer why a property may or may not be the best option for them or giving sound advice based on experience. It also involves understanding contracts and knowing how to avoid pitfalls that may safeguard their interests down the road. Sometimes, risk mitigation involves:
Having challenging conversations with clients about negotiations.
Keeping them apprised of all scenarios throughout the transaction as they unfold.
Being open and transparent when discussing potential risks.
Technology and Data
Realtors® have access to the MLS with the most comprehensive stats and listing data for success. Although, many agents have missed the opportunity to talk about the value that the MLS offers. Within the MLS, many tools integrate and work on the buyer's behalf. For example, beefing up your value proposition package may entail itemizing the tech tools that benefit them.
BeachesMLS offers some great benefits, like Local Logic, where Realtors® can use demographic insights for any property to drive better real estate decisions: income, population, housing, household, education, and commute. Benefits for new construction include Builders Update/New Home Source Pro, which allows you to discover thousands of premier homebuilders and search for and save new homes and communities easily. Utility Connect is a new benefit that is coming soon to BeachesMLS. Utility Connect offers free concierge services to buyers before closing. Clients can connect to a home service specialist who will save them time and money on utility connections, movers, insurance, mail forwarding, and more.
Community Expertise
We all know that a great Realtor® goes above and beyond the call and duty for their clients, but do they know that? Showing value means learning and becoming knowledgeable about the communities you serve, like knowing and understanding zoning rules and city ordinances. Where's the nearest dog park? You should consume so much information on the communities you serve that you never need to use a robot like Siri or Google.
Understanding how the market fluctuates regarding closed sales, median home sales, and days on the market should be a part of your everyday vocabulary. Become relatable to your buyer and explain how comps work and what tools you utilize to give them accurate, real-time advice.
Menu of Services
Have you ever visited a website looking for information that explained a company's services and realized that after 5 minutes of digging through pages, you're still clueless about their offerings? Was that a good experience, or are you moving to the next website, hopeful that it will be better?
Explaining your value should be part of your core and everything you do. Make your services easy to find and comprehend for leads coming to your website. Cross-link your services from social platforms or link trees. Talk about your services and create video reels and unique content that express your value in unconventional ways. Try making a modern brochure for a classy, polished look or a new mailer with your services instead of sending out the nine-hundredth mailer with photos of your closed listings in that gated community.
Over the last year, we have learned that consumers want transparency, and that's not a lot to ask for; it only helps strengthen the real estate profession. Knowing how to communicate your value effectively may increase your ability for compensation. Either way, it certainly can't hurt to become a better storyteller.
By BeachesMLS Staff
✉️ Email