Why do we buy things? Whether it is a need or a want we buy things because for whatever reason we have identified value. The value (in whatever form it takes) must be compelling enough for us to make the commitment to exchange our hard earned dollars for whatever product or service we value in that particular situation. In the time leading up to the making of that commitment, we do our own evaluation of whether or not the value is there.
As commercial real estate brokerage professionals, we must deliver a value proposition to the prospective client which is compelling enough to move the prospect to take action. When making that first contact with the prospective client, a number of unspoken questions exist that must be answered in order to move the relationship forward. The prospect needs to know:
Why should I listen to you?
Why should I do business with your company as opposed to the other companies I’m speaking with?
Why should I trust you?
Why should I take your advice?
Crafting your value proposition for each prospective client is an important key to winning more quality assignments as well as building the foundation of a long term agent/client relationship. It all begins with a clear understanding of what the prospect needs and how you can help him achieve the positive outcome he desires. Your value proposition also demonstrates your capabilities and delivers the message to the prospect that you are the best person for the assignment. Once the prospects’ needs are identified and you as the problem solver has a clear picture of how you can be of service, then and only then should you begin to articulate your value proposition. Spewing a lot of rhetorical features, statistics and other information related to you and your company prior to learning what the prospects actual needs are equates to nothing more than an infomercial. The prospect needs to be heard. He needs to know that you have listened to him and that you have his best interests in mind as you take the information he’s shared with you and applied the appropriate and relevant services to his needs. Doing so positions you as a trusted advisor who is aligned with the goals and objectives the prospect has outlined for you.
The services and capabilities you articulate for the prospect must be directly related to what they hope to achieve or they are meaningless to the prospect. Personalizing your value proposition for the prospect in front of you also goes a long way toward building the individual relationship that is vital to creating trust. Prospects will not do business with someone they don’t trust, so it is crucial in the early stages of your interactions with the prospect that you listen, understand and empathize. Once a foundation of trust has been clearly established, delivering your value proposition to the prospect will be more effective and have a greater impact on your prospects, resulting in more assignments won not to mention stronger client relationships.