MIAMI Association of REALTORS




What’s Your Brand’s Value Proposition?

by | Feb 24, 2014

brand_stampWhen you think of Apple, what do you think of? What about Starbucks?

These two iconic brands do more than sell a product. As such, they create a feeling that IS their value proposition. Howard Schultz, the CEO of Starbucks says, "Starbucks represents something beyond a cup of coffee."

What does your brand represent besides being a real estate brokerage? Do you know? Do your agents know? Do your customers know?

Although with a franchise you certainly have more marketing reach, I would argue you should be asking the same questions I mention above. What does the brand represent? Do I know where I fit in that? Do my agents? Do my customers?

Going back to Starbucks, consider this, you go there to buy coffee but think about the "why" of why you went there versus the local coffee shop, McDonald's or somewhere else:

  • The relaxed atmosphere when you walk in;
  • The free wi-fi that makes this your office on the road;
  • The music that is playing; and, last but not least,
  • The great coffee!

I have personally gone miles out of my way to go to Starbucks for all the reasons I mention above.

Let's apply this to the typical real estate brokerage that brags about how great their agents are, how long they have been in business, or some other fact that is completely irrelevant to today's real estate consumer, and, in many cases, to the younger agents you are trying to recruit.

Keep in mind, the real estate transaction has been commoditized over the years so what makes you any different from the guy down the street? What makes one brand or franchise any different from the other in terms of the actual real estate transaction?

If brokers and their managers did a better job communicating the "why" of what they do they might be on the road to developing a UNIQUE value proposition that communicated something more than "I want to sell or list your house". What if consumers saw you as something more than someone who is trying to make a commission? What if agents saw you as something more than a place to hang their license and get the highest split?

Think about it!

To view the original article, visit the PCMS Consulting blog.

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