Whenever you are approaching real estate agents to create referral relationships, the question going through their mind is: “What makes you any different than the last mortgage loan officer that walked through the door?”
UVP – Unique Value Proposition
What does your target demo need?
What can you do to satisfy that need?
How can you do it uniquely?
How can you communicate effectively?
What is your commitment objective?
How can you market this on a larger scale?
How can you become an invaluable, irreplaceable assset to your new marketing partner’s business?
Psychological Value Equation
Value = Benefit – Cost
Is your “value” truly valuable?
Do they see, understand and believe your value proposition?
Are you assuming they “get it” just because you do?
Two Basic Competition Models
Lowest Price vs. Highest Value
Lowest price often leads to commoditizing your service. (ie. E-Trade vs. Merrill Lynch)
Become less of a “Vendor” and more of a “Partner”
The Law of Caring
People don’t care how much you know until they know how much you care…
Bonus: We don’t know what we don’t know, until someone cares enough to show us!
Role of an Accountability Partner
A trusted advisor with credible knowledge
To view your world from the outside in
To keep you focused on steady progress
To hold you to your promises
Look for life events that typically lead to housing changes
- Kids – More or less
- Job Changes
- Marriage / Divorce
Real Estate Agent business challenges:
- Lack of follow up
- Buyer desperation/disloyalty
- Borrowers losing out