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Transcript

The Competitive Edge: Unique Value Propositions in Real Estate · The Real Estate Agent Playbook

• 0:00
  What's up everybody.
• 0:01
  I'm here to tell you that things might get a little bit tight
• 0:03
  in the real estate market.
• 0:04
  Certainly we're entering the spring market at the time of this
• 0:07
  recording and things might get there.
• 0:09
  However, when things get tight and things change, you need to dial in this one thing
• 0:15
  that will absolutely change your business.
• 0:17
  And I know that if you do this over the next two to three years, you will clearly
• 0:21
  separate yourself from the competition and be standing at the top when.
• 0:26
  You know, things maybe get back to normal.
• 0:28
  Stay tuned.
• 0:34
  What's up guys?
• 0:34
  This is Jeremy Kane with the Real Estate Agent Playbook.
• 0:37
  Super excited for this one as I really think this will help agents level up.
• 0:43
  My goal is to help you win every single day at the game of real estate.
• 0:46
  Always available for a conversation, realtor game plan call in
• 0:49
  the link in the description.
• 0:51
  Always reach out.
• 0:52
  Let me know if you're interested in partnering with me at The Wealth Pack.
• 0:55
  Again, reach out.
• 0:57
  If not, totally cool.
• 0:58
  I still love you anyways, but let's get into this one.
• 1:01
  So, what is that one thing that I'm talking about, right?
• 1:04
  As we see the market changing, as we see it getting tighter, we hear news of the
• 1:09
  commission lawsuits and the DOJ making statements that, you know, they think
• 1:13
  that the buyer's agent should be paid specifically by the buyer and the seller
• 1:17
  shouldn't be legally allowed to do it.
• 1:19
  Okay.
• 1:20
  Let's let that all settle out in the pellet court and do all that.
• 1:23
  Give us the rules in the sandbox and we'll play.
• 1:25
  But here is the one thing I would be focusing on.
• 1:29
  I would be focusing on your unique value proposition.
• 1:32
  And I will tell you, I am building a course for the future, not the one
• 1:36
  coming out in the spring about how to build your unique value proposition.
• 1:40
  And.
• 1:41
  I will tell you that I've had conversation after conversation
• 1:45
  with top producers and even the top producers have trouble identifying
• 1:50
  their unique value proposition.
• 1:52
  So the name of the game is differentiation.
• 1:54
  If we can differentiate ourselves, our services from those in our, in our
• 2:00
  market, especially in those that we're in competition with for those listings,
• 2:04
  for those buyers, it can change the game.
• 2:07
  And a lot of people You know, talk about this is like niching down and all of that.
• 2:12
  Certainly there is an element to that, and you can kind of run away with the
• 2:16
  unique value proposition with that.
• 2:18
  I call this a value stack, so I'll use those words synonymous
• 2:22
  synonymously through this video.
• 2:24
  However, let's really dial it in.
• 2:27
  What makes you different than the agent up the street?
• 2:30
  What makes you different?
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  Okay, this can take you from a brand new agent.
• 2:34
  What makes you different than that very top producer?
• 2:37
  Right?
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  And know these things.
• 2:39
  Know your values.
• 2:40
  Know your core values and stay by them.
• 2:42
  But this value proposition can absolutely change the game.
• 2:46
  And once we know what our value stack is or a value proposition is, We can
• 2:51
  build our entire brand, our entire lifestyle around this one thing.
• 2:56
  And then it makes it a lot easier, right?
• 2:59
  Those, those hard ones are the ones that are like far reaching.
• 3:02
  And we're like, Oh man, what are we going to get here?
• 3:04
  How are we going to do this?
• 3:06
  No, just be yourself and provide that value.
• 3:09
  Right?
• 3:09
  You are a good human.
• 3:10
  And as we kind of roll through this, it's of utmost importance that you understand
• 3:15
  that we can absolutely make this happen.
• 3:18
  It's just step by step, dialing it in, sticking to the brand, building
• 3:23
  the brand, sticking to the brand.
• 3:25
  Right?
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  And this is why your story is so important when you're talking about building brand.
• 3:31
  Right?
• 3:31
  Brand isn't just the colors and the logo.
• 3:33
  Right?
• 3:33
  I don't know who's gonna Pay you, you know, whatever we we make these days.
• 3:38
  We're not allowed to talk about that but I don't know who's gonna pay you a
• 3:41
  large sum of money because you're You know colors are the same as as your
• 3:46
  favorite baseball team probably not the case However, it's really cool to build
• 3:50
  that brand and you can go deep right?
• 3:53
  Maybe it is about the sports maybe you're getting into that sports and
• 3:55
  entertainment side of it and you know, Maybe your your events and things like
• 4:00
  that are surrounding sports teams.
• 4:02
  Whatever you want to do build a brand And start dumping value into
• 4:07
  the people that you're targeting.
• 4:08
  And that's the biggest mistake I see with agents, is they're putting out
• 4:13
  content, they're building flyers, they're putting out signs, and they don't have
• 4:16
  the target audience in mind, right?
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  They just have their brand, their, you know, it's almost
• 4:22
  like it's a mirror, right?
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  They're putting up mirrors everywhere so they can see themselves.
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  And if we can turn those mirrors around, and say, this is my
• 4:29
  value that I'm bringing you.
• 4:31
  And it has to be more guys than I'm a good negotiator or, you know, I take
• 4:36
  great care of my clients and I love houses and all the things, right?
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  Like if you have the same value proposition as somebody else, the
• 4:44
  value disseminates every single time.
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  And so every single time you hear, Oh, I just love working with people and I
• 4:51
  love, you know, real estate in general.
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  It's just a great investment tool, right?
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  Well, that just took 90 percent of the agents and.
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  Put them all in one, one pile and you can pick the best one from there, the one you
• 5:02
  like the most, your best friend, whatever.
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  And so that's where we need to understand differentiation is going
• 5:08
  to be the key over the next few years.
• 5:10
  And, and we've all seen it, right?
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  We've seen all of these agents who have these crazy, you know, the
• 5:16
  dog realtor, the divorce realtor.
• 5:18
  You know, I don't know about that.
• 5:20
  I'd rather hang out with dogs than people that, that crush
• 5:22
  divorces, but that's just me.
• 5:24
  Just kidding all you guys out there doing the divorce thing.
• 5:27
  We won't even go into estate sales here.
• 5:29
  Just kidding.
• 5:30
  So, these unique value propositions and dealing with that specific clientele,
• 5:34
  that's exactly where I would start.
• 5:36
  Okay, are you a first time homebuyer?
• 5:38
  Well, let's build our whole value proposition around getting first time
• 5:41
  homebuyers from renting into a house.
• 5:44
  What do you do besides go talk to a lender?
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  Right?
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  Partner with credit people.
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  Partner with apartment complexes.
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  Build incentives with everybody you possibly can think that can come
• 5:55
  into the world in these first time homebuyers, you know, dreams, and so on.
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  And as we do that, and we're really focusing on first time homebuyers,
• 6:04
  let's not forget that these first time homebuyers become first time home sellers.
• 6:07
  So, how are you managing that relationship from close to next transaction?
• 6:12
  Because that's absolutely a massive Loss of business is that next transaction?
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  And so if we can continue to kind of build this out and bring industry
• 6:21
  partners in and bring different ideas and seminars and Marketing materials and
• 6:26
  all the things to these people Right.
• 6:28
  I I don't have you know your unique value proposition, but we could do
• 6:33
  a lot better at You know putting ourselves out there and it doesn't have
• 6:37
  to be in the dog realtor And your dog can ride in the back and come to the
• 6:41
  showings and treats and all the things.
• 6:43
  That's absolutely massive.
• 6:44
  And Colorado agents, you might want to look into that because
• 6:47
  Colorado people love their dogs.
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  I'm not sure about the insurance liability on that.
• 6:51
  But these different unique value propositions start with the target avatar.
• 6:55
  And then just coming into finding what their why is, right?
• 6:59
  Why are they in the market?
• 7:00
  Why?
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  Why does this person want to buy?
• 7:02
  Why does this person want to buy?
• 7:04
  Why does that person want to rent?
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  Right?
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  Because if we can start appealing to their why, right?
• 7:09
  I call this our Why 2.
• 7:10
  0.
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  Our Y, which everyone talks about, family, you know, financial freedom,
• 7:16
  retirement, all these things, that just gets us out of bed.
• 7:20
  If we can create our Y 2.
• 7:22
  0, and it involves our avatar and their needs and their direction, this
• 7:27
  is something that can change the game.
• 7:29
  And so, start to really think about, okay, how is that going to happen?
• 7:32
  And you may have a couple different target avatars.
• 7:35
  Great!
• 7:35
  Let's build that up and let's provide as much value as we possibly
• 7:39
  can, legally, within our system.
• 7:42
  To help these people sell and buy real estate, right?
• 7:46
  And that's where it changes, and that's where the game can change.
• 7:50
  However, like I said, I don't know what your value might be, but I would start
• 7:53
  with the avatar and say, what exactly can I bring and ask the question, right?
• 7:59
  I should be able to ask these top producers, these high performers,
• 8:03
  what's your unique value proposition?
• 8:04
  They should be able to lay it out, right?
• 8:06
  The unique value proposition is nothing new.
• 8:08
  However, it is going to be a game changer if and when something happens
• 8:13
  with these buyer agent commissions.
• 8:15
  Because now all of a sudden, it's a chunk of change out of the buyer's
• 8:19
  pocket, possibly straight out of the buyer's pocket and only out of the
• 8:22
  buyer's pocket, to pay us, pay our bills.
• 8:27
  And when you really think about it, 95 percent of agents Got there.
• 8:32
  I know I'll probably a hundred percent of their agents get their start as buyers
• 8:36
  agents We certainly work our way through that we have buyers They turn into sellers
• 8:40
  then all of a sudden we're listing agents But you have to understand the effect
• 8:44
  it'll have on the market if somebody like the DOJ comes in and makes a rule Vastly
• 8:50
  changes our industry you have to be ready for that and you have to be able to talk
• 8:54
  about your value And I'm here to tell you that it's not just about the buyers.
• 8:58
  We're going to need to step up our value on the seller side because
• 9:01
  as that happens, there's going to be less and less and less agents.
• 9:06
  And we're going to be competing against the big block computers.
• 9:10
  You know, the Zillows of the world.
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  , and people feeling like they can maybe, maybe start to, you know,
• 9:15
  do this on their own, right?
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  And I, I don't know about you, but the stuff that I do for my clients, I don't
• 9:22
  want amateur people going up against and negotiating against and doing all the
• 9:27
  things with a licensed professional on the other side, because I know how that
• 9:31
  would, how that will eventually turn out.
• 9:33
  And eventually shake out the other way.
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  So this isn't a major fear mongering thing.
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  It's just like, think about the difference.
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  If when that changes, instead of shuffling and figuring out what your
• 9:42
  value proposition is going to be and how you're going to, you know,
• 9:45
  go about this, start doing it now.
• 9:47
  Start implementing that value.
• 9:49
  So that when that time comes and the buyers start to be like, okay, well.
• 9:53
  You know, am I gonna just click this button and get it done or,
• 9:56
  you know, am I gonna use you?
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  What do you do different than that computer?
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  What do you do different than that agent that's gonna say, Hey, I'll
• 10:03
  do it for a thousand bucks, right?
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  Because that's where the competition comes in and that's where it gets interesting.
• 10:08
  So I think the next step is, and this isn't just like pie in the sky,
• 10:12
  you know, riding on rainbows here.
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  Like once we have that target avatar and we understand their whys and what they're
• 10:19
  doing and we're developing our why 2.
• 10:20
  0 so to speak What are we good at right?
• 10:25
  And once you have that you say, okay This would be really good to have this ultimate
• 10:29
  experience and have them, you know have a discount on moving and know exactly where
• 10:33
  to get insurance and know Exactly what, you know, a first time homebuyer needs.
• 10:38
  What's that?
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  You know, what are those initial investments that
• 10:40
  first time homebuyers need?
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  And, you know, you have all these things.
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  What can you provide as a real estate professional?
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  Out of those things.
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  Sometimes it's just consult.
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  Sometimes it's just, you know, walking through certain parts of it.
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  And that's super important.
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  The education.
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  Sometimes it could be, you know, changing the locks.
• 10:56
  And doing all these things that first time homebuyers have no idea about.
• 10:59
  It might be, you know, a first time homebuyer checklist where
• 11:02
  It's not just a checklist hidden in the back of that folder.
• 11:05
  It's like, okay, I'm going to call you at these certain stages to
• 11:08
  remind you to how to kind of get into homeownership and all the things.
• 11:11
  These are just ideas that I have.
• 11:13
  Right.
• 11:14
  And, but look at your skillset.
• 11:16
  What can you do again, within your legal allowabilities with your license,
• 11:20
  no matter what state you're in, what can you do to check all these
• 11:24
  boxes and then who can you build relationships to check the rest with?
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  And if you can come with a team, right, that's, you know, Hey, we're,
• 11:33
  this is, we're first time homebuyers.
• 11:35
  We're a team, right?
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  This lender is the best first time homebuyer lender because of XYZ.
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  They're on my team.
• 11:42
  My transaction coordinator understands first time homebuyers and really
• 11:45
  will help, you know, answer any questions on the, the documents
• 11:49
  and the things that I don't answer.
• 11:50
  Maybe you want a second opinion.
• 11:52
  They're a good person, you know, to ask a question to on a definition now.
• 11:56
  Certainly if they're licensed, not licensed, I'm not saying that.
• 11:59
  But you're building this team and they have an understanding of your
• 12:04
  value proposition of your standard of Communication of all of your standards
• 12:08
  that you're portraying in this unique value proposition and you come to the
• 12:13
  table and you say, Hey, look, I got myself and 10 other people who are here to help
• 12:17
  you with every single step of your, you know, first time homebuyer and journey.
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  And here we are, right?
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  And it doesn't have to be first time homebuyers.
• 12:25
  That's just an easy example.
• 12:27
  But as you can see, you start with your avatar, you figure out why
• 12:31
  they're doing what they're doing, the struggles that they have.
• 12:34
  You go through it, you get experience and then you say, okay, what can
• 12:38
  I check off the box for them?
• 12:39
  Where can I show up and where can my team show up and there shouldn't be any gaps.
• 12:43
  And if there are gaps, that's a great opportunity to build partnerships with
• 12:47
  people in your community, community industry partners and all of that.
• 12:50
  And you can build a whole nother business, you know, leg off of them.
• 12:54
  But your unique value proposition starts with you.
• 12:58
  And it starts with how we're going to present that right and if we're
• 13:01
  continuing to be transaction We're continuing to kick this can down the
• 13:04
  road There will come a day where you're going to come back and watch this
• 13:07
  video and say okay How do I go about building this unique value proposition?
• 13:12
  If you have any questions about that if you want someone to talk to 30 minutes
• 13:16
  realtor game plan call I'd be happy to help you no matter what brokerage no
• 13:20
  matter what downline no matter what team you're on To help you build this out
• 13:23
  because I think it's super important And my goal is to help every single
• 13:28
  agent that wants to win win at the game of real estate No matter what the
• 13:32
  commission lawsuits no matter what the industry no matter what direction the
• 13:35
  market goes I want to know the rules of the sandbox play in the sandbox and
• 13:40
  help All of my friends be there too because I'm an expert and I like people.
• 13:43
  So, hope that helps.
• 13:45
  Share this podcast, you know, on audio over there.
• 13:48
  Share with your favorite real estate agent.
• 13:50
  If you're in the car and you're used to watching on YouTube, check out
• 13:52
  the podcast sometime and vice versa.
• 13:54
  You can share that YouTube link super easily.
• 13:57
  Copy, paste, send it to your favorite agent as well.
• 14:01
  And all comments are, are welcomed.
• 14:03
  I appreciate you guys all.
• 14:04
  Let's build this community up and let's get another win today.