Why Big Companies Are Big
Think of the companies that you admire. Think of the companies that you work with all the time. Oftentimes, the ones that you really admire and you keep on buying from over and over again — think Amazon or Apple or name the local one that you really appreciate — each and every time, they all have something called a unique selling proposition (USP).
USP: Their unique advantage that they serve in the market. It’s something that no one else can claim but them.
One thing that a lot of real estate investors and agents don’t do is they don’t come up with their own version of their unique selling proposition. They put out the exact same message that every single person in their market is putting out. If you’re a real estate agent, “Hey, we can sell your house. We can show you homes.”
Everyone Is Saying The Same Thing
What else are you doing to separate yourself from the 400 other agents in your market? If you’re a house buyer or house flipper, what are you doing to show the sellers or buyers or tenants that you guys are different? The thing is you go to nine out of 10 real estate investors websites. Nine out of 10 of them are going to be showing the exact same message. They’re going to be saying, “Hey, we can buy houses. We can buy them fast.” You know, “Fast cash closing.” Those types of things.
If you’re saying the same thing, how is it that someone is going to choose to work with you versus working with someone else? That’s what we’re going to be talking about today on this Whiteboard Strategy Sketch is unique selling proposition. Okay, especially in the cluttered market right now. We’re in an insanely cluttered market where there’s a lot of clutter. The market’s going up, which means a lot of investors want to pile in and start flipping houses or wholesaling. A lot of real estate agent prospects are piling in there, wanting to sell houses, because it’s easy today. How do you stand apart?
By Coming Up With A Unique Selling Proposition
The people who are doing that are the ones winning the market. The people who are not doing that are going to close some deals probably, just by the sheer mathematics of getting leads, but the ones who are actually coming with a unique selling proposition are going to be here through the market cycle. They’re going to be here in the next cycle. They’re going to be here in a year, in two years, in five years. All right, so unique selling proposition is the key.
What’s Your Unique Advantage?
The first thing is, what’s your unique advantage? Okay, what is the unique advantage that you have that no one else can claim? This goes directly into the next one. No one can claim the same thing. Okay, so this is something where it could be your experience. Going up here, what’s your unique experience? It could be a process that you have in your business, unique process.
Okay, it could be the credibility that you have based on the experience that you have. What is it that no one in your market can claim the same?
As an example, we’re working with a local real estate brokerage here. They are the number one, the largest, privately-held brokerage in Douglas County which is sweet. No one can claim the same thing. That’s one of their unique selling propositions. They probably have several others. One of the other unique selling propositions, they’re amazing at commercial real estate.
No one can claim the same, that they have two CCIM-accredited brokers that are specialized in commercial. That’s something that’s an advantage to them. If you don’t pull that out and put it in your marketing, put it on your website, then you’re not using your unique process, your unique selling advantage, as an advantage.
A Few Examples
Another one, your unique selling proposition creates a massive advantage in the market. With Carrot, let’s kind of bring it home to us. We don’t just put out websites or software, okay? If we did that, we would be one of the many others who do that, but we have a unique selling proposition. Our unique selling proposition is you get better results when you work with us.
You get a higher ROI with your ad spend. You get a higher ROI with your marketing. Okay, we’re going to help you with our software and our training and our support to get a better result, so you have less of what we call phantom expenses: fewer things where you get a lower ROI because of underperformance. That’s one of our unique selling propositions out of many, okay?
What is the one advantage that you have? One company that you guys have probably heard of, it’s a national company. It’s actually a Silicon Valley-funded company called Opendoor. Many of you guys have heard of Opendoor. They’re in Phoenix. They’re in LA now, in Las Vegas I think too. If you go to their website, and people are wondering, “Why is Opendoor doing so well?” They’re doing a lot of direct mail. They’re doing a lot of online marketing. What is it about them that’s doing so well? If you go to their website, number one, they’re insanely, insanely transparent about their offer process.
There are no questions on exactly how they come about a price to offer the seller. That’s a unique advantage because all of their competitors are hiding the way that they come up with their offer. If you’re one of the people who is just saying, “Oh, I’ll offer you money. I’ll offer to buy your house,” but you’re not uncovering the process in how you do that so they know that it’s a fair process, then you’re at a unique disadvantage to a company like Opendoor. They’ve got that unique advantage.
Another thing on their website if you check it out, they’ve been a part of over 4,000 transactions. No one can claim the exact same number because that’s unique to them. Put that on your website. If you’re an experienced investor and you’ve done 20 transactions or hundreds or whatever it is, use that unique advantage to your own benefit. Put on there, “Hey, helped hundreds of local home buyers, helped hundreds of local home sellers,” that’s unique to you specifically, or use the exact number, even better.
Maybe you have an insanely high rating on Zillow. You’re the number one agent on Zillow. No one else can claim that but you.
Maybe you are the number one commercial or you’re the number one North Umpqua River, that’s a river that we have here, one of the rivers here in Roseburg, you’re the number one river real estate agent in the entire area. Claim that if you can claim it. Then challenge your other competitors to come over the top of you and claim that space.
It’s Hard To Win Without A USP
What is your unique selling proposition? If you don’t have one, the likelihood of you crushing it in this market and being here through the market cycle is probably pretty low.
If you’re a new investor, you might be going,
“Oh my gosh, I don’t have a unique selling proposition. Does that mean I should quit my business right now?”
The answer is no. There is something unique about you that you need to put out there. If you don’t have something, you really do need to work on it. You should also look at your business model. Don’t just copy the business model from your coach. Find a way that you can make it better. What in your process can you do that’s different? What in your process can you do, in your offering process that you can do that’s different or better?
Express Homebuyers out of Baltimore, okay, they have done over 2,500 real estate transactions buying and selling homes themselves. One of their unique selling propositions is they’re going to get you an offer within like seven minutes, I think it’s something like. Don’t quote me on that, but it’s something like that. All their advertising hones in on this one USP: get an offer within seven minutes. That’s their claim to fame.
What is yours? Find your unique selling proposition. Put it into all of your marketing so you have something that’s clearly, clearly different than your competition. Okay? How serious are you to build your business? You have to have a unique selling proposition.
Otherwise, no one’s going to think you’re unique, and you’re a commodity, so go out there and do it today.