Guaranteed Sale and Other U.S.P.’s
Why should I do business with you?
What’s in it for me?
Your leads are asking themselves these questions, and if you’re like most agents, the answers probably don’t look too good!
Let’s begin by asking, “What makes you different from the rest?” “What makes you stand out in a crowd?”
How do you show others what makes you special? UNIQUE SELLING PROPOSITIONS!
Unique selling propositions (U.S.P.s) are like a real estate agent’s signature. Every agent can sign their name on the line, but no two should look the same.
What is a U.S.P.?
A U.S.P. is a value statement used as a marketing concept for a successful advertising campaign geared toward a specific audience to convince them to switch brands.
A GREAT U.S.P. should always be able to answer the question, “How will you make my life be better, versus another real estate agent?”
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To create a truly unique U.S.P., you must first become the best at something no one else is attempting.
Before you implement and start advertising your new U.S.P., you must first check with your broker. Failure to do so could create major legal challenges for you and/or your broker.
What is a BAD U.S.P.?
Since U.S.P.s are best used as a powerful, long term differentiator, you want to make sure you get it right the first time.
The catchy phrase you’re always hearing, “Guaranteed Sold or I’ll Sell It for Free” is probably one of the best type of U.S.P.s an agent can offer because it provides the client with peace of mind and no risk.
This is called risk reversal.
Essentially, no client or customer should ever be risking anything in doing business with you.
Nearly every agent/team selling over 400 homes per year uses some variation on the “Guaranteed Sale” theme.
Real estate clients want to be confident in your ability. The best way to install that confidence in them is to show them how confident you are in your own ability.
Stacking contingencies is another common marketing strategy used by many real estate agents. Contingencies are specific terms that must be met for a sale to proceed.
A few contingencies you may want to consider are: financial/loan, insurance, home inspection, appraisal, and title.
Financial/loan contingencies are typically in place from the time a client signs a contract until closing. This type of contingency reassures the seller that the client can obtain a loan for the house.
Home inspection contingencies are one of the most common in real estate. This type of contingency means that if there is something wrong with the house, the contract can be broken, and the buyer can either receive their earnest money deposit back, lower the purchase price, or have the seller fix the issues.
Title contingencies are important for home buyers to consider when having an offer written up by a real estate agent.
This type of contingency actually protects and provides an escape clause for the home buyer if for any reason the seller cannot produce a valid title for the property in question.
Although stacking contingencies may seem like a great idea, there are a few things you should be aware of:
- It is often believed that the fewer the contingencies in an offer, the more appealing your offer may be to a seller.
- You should only execute a contingency if there is no other option.
- This is a great U.S.P. to use when the seller is struggling to list their home before finding a suitable replacement property.
- As a primary U.S.P., “Your Home Sold in _____ Days or I’ll Sell It for FREE. Guaranteed!” is currently the one that draws the highest response rate!
Although most contingencies are used with the buyers’ interest in mind, BOTH the buyer and seller can benefit from a contingency.
What to do with your NEW marketing strategy
Once you develop your U.S.P., tell the world! Put it everywhere. Email, website, signs, flyers, newsletter and all your social media channels.
Want to learn more from Michael about U.S.P.’s? Visit his Coaching Profile for material exclusive to LCA!