As commercial real estate becomes more transparent, you have to start asking yourself:
Do I have anything that differentiates me?
Do I have anything exclusive to offer?
Can I demand a higher fee and not worry about being turned down?
You, as a broker or office provider, have to present your value in a way that makes it impossible for your prospect to eliminate you.
Realize you and your prospect are there for different reasons.
You, as the broker or office provider, show up to a meeting to get a better understanding of your prospect’s current situation.
Then you determine if your services or space can help them achieve their desired outcome.
On the other hand, your prospects, the business owners, show up because they want to confidently eliminate an option.
Think about how many brokers call them and send mail each week.
They have to sift through the noise and try to educate themselves based on sales pitches and market reports (reports that often seem irrelevant or don’t make sense to them).
Your value proposition needs to be a bulletproof answer to the following question:
“If I am your ideal prospect, why should I choose you over your competitor?” (Flint McGlaughlin, MECLABS Institute).
First, you must clearly define who is (and who is not) your ideal prospect.
You must have laser focus on your ideal prospect’s desires, fears, and daily frustrations.
Second, you must have empathy.
You need to be able to walk in the shoes of your prospect and know exactly where they are and where they want to go in business and life.
Third, you must position yourself as a vehicle.
You and your offer have to be the perfect vehicle to get them from their current situation to their desired situation.
Lastly, you must have an “only” factor.
If you want to command a higher fee, you must have an only factor. Something that differentiates you from every other broker or office provider in your area.
(No, the following are not only factors: CoStar information, strong ties to the community, and 20 years of experience.)
If you’re struggling to create your unique value proposition, check out these free resources from MECLABS: http://bit.ly/value-toolbox