Do You Know What Your Value Proposition Is?

Getting an active client is tough in real estate, and when you finally do attract a transaction ready client, chances are they're going to want to negotiate your commission. They won't understand that for each listing, you dish out hundreds (or thousands) of dollars to pay for gas, advertising, photography, signs, and even snacks for open houses. On top of that, you have your broker's cut, fees for your MLS, association dues, and website expenses.

What your clients will understand is the value you can bring to them in the transaction. That's why being able to effectively communicate your value is so crucial to getting new clients, retaining clients, and keeping the commission percentage you deserve.

The key to communicating your value is to take some time to formulate a value proposition – an explanation of who your target clients are, what benefits you provide to your clients, and how you do it in a unique way.

Step 1: Identify Your Target Clients

Consider who your clients are and what they want. Why are you qualified to help them reach their goals? Are your clients empty nesters looking to downsize or are they growing families who want to find a bigger home? As the saying goes, "you can't be all things to all people," so defining your ideal market segment will help you stand apart.

Step 2: Figure Out What Makes You the Best

What are the benefits of working with you that set you apart from other real estate agents in the area? Do you have more experience? Do you have a better network? Can you offer a better time frame? Do you have specialized training that will be uniquely helpful in their situation? Share this with your potential clients to help them understand the value you can provide.

Step 3: Determine How You Do Things Differently

How is working with you different than working with other agents with similar qualifications and experience in your area? Are you able to meet with your busy clients via Skype? Do you use Periscope to give neighborhood tours to out of town clients? Do you have a background in interior design and staging? Figure out what personal touches you have that add value to your services.

Once you know why you are the best, make sure all your clients know how working with you is different. Shape your qualifications into a recognizable brand that defines your value as a real estate professional and demonstrates what makes you unique. Let your brand connect with customers who are months, years, or decades away from needing your services, while you work on clients who are ready now.

To view the original article, visit the Homes.com blog.