We all know that we should have a unique selling point, common sense tells us so, but which is the prefered choice ?
To break it down further ,firstly what do you think would be the choice from an agents point of view and secondly, what do you think clients would value the most ?

Problem is all agents “claim” to be different when in fact they’re not. We do “this” they say, when they don’t. In fact, in order to be different you need to be quirky like these guys http://www.camdenbus.co.uk/ . Now thats a USP.

Why is that a USP? Just because they’ve got a big red bus on their website?

I suspect most estate agents would say that their knowledge of the area is their USP. It’s baloney, of course, because all other agents in the same area have the same knowledge, the same skills, the same marketing output etc etc etc.These days, given the sheer volume of quality information about house prices on the net, your Grandmother could value a house in any street. The only unique thing you have is your own personality (ability to form relationships with people) and your service and how it is applied. This will secure new business and assist repeat business. I suppose this is the intent with the big red bus thing although this is only a gimic in my view (like the Foxtons’ Minis).

They do business from the bus. If you bothered to look. Good service is a given, not a USP. What you’re saying is like having a dog and barking yourself.

If we define a usp as an element of marketing then there is no better place to search for answers than Seth Godin. As Paul mentions below, good customer service should be a given but is woefully lacking in so many industries (don’t get me started on BT customer support!).

I wrote a list of what I thought ought to be USPs, but then read this post whilst searching Seth for answers and soon realised that I was going about it the wrong way. The post explains that one should be looking to go deeper with their product offering. In this post he describes the buffet that specializes in one thing, bacon, and how that buffet would always have a line and people woud drive across town for it. Doug McIssac quotes another guru who ‘… refers to it as going “an inch wide and a mile deep.” Too many people get caught up in trying to be everything to all people. I’ve done it too, but once you focus on what you are the best at then you can become truly successful…’

I like this theory and you will have heard me banging on about the possibilities of concentrating on one thing in real estate, one area, one type/style of property, riverside development for example, but excelling in whatever that is and becoming an expert for that product. That becomes your USP. Can this work in real estate, I am not sure, but I do believe the industry needs to look deeper. Paul’s offering for the Olympics (his recent video) could be a good example.

Don’t forget it is ‘unique selling proposition’.

There was a video in the post, which I can’t watch as my connection speed is super slow (bloody BT) for some reason, but I have uploaded in any event.

Actually Paul, I did read it. So they do business from a bus, so what? This is still not a USP. Why does that differentiation urge me to do business with them over anyone else? It gives me, as a customer, nothing. As I said, it is a gimic. A bloody great big one but a gimic. As Owl says, you stick to your niche and go deep. Service can be unique too. Sure, generically, good service is a given but if you can find a way to deliver high service in a unique way that gives greater benefit to your customers than the next guy then you’re ahead.

To the OP : this sounds like a leading question. Are you looking to start a business or get advice? I have zero problems with that but would be interested to know.

Hi James
No, I’m not looking to start a new business. Advice is always well received though. I just wanted to stimulate some thought on the subject.
Paul touched on it when he said “all agents claim to be different when in fact they’re not”, the bit Paul missed is that this is not a problem, it’s an opportunity. To those who recognise it at least.
Offering pretty similar to the other guys seems a risky strategy to me. If you can have an edge (not a gimmick), something that gives clients a tangible reason to pick you ,then as you say, you win, repeatedly.
Trouble is, such an edge is never going to be free or effortless, so many just don’t bother. That’s a shame because a little expense and a tiny bit of effort can make a huge difference. It’s all about return on investment.
Having a valid USP costs, not having one costs business.

Natalie,

Actually I do not believe there is such a thing a USP. It’s all bull. It’s for me more about the expeirence provided and building the business brand. Know me, like me, follow me.

“We do this” and then dont allows me, my staff and my business to dominate my market using the mantra “Aim at the sharp end of the spear where rivals are weak or uninterested in what you are doing”. Success is all about timing – being there at the moment when it mattered as well as the 99 times when it didn’t”.

James,

You are waffling on like you have something to say, yet seem incapable of saying it. Get off the fence and add something useful to this discussion as your tedious ramblings are sending me to sleep.

‘d say the best USP to have is something you are passionate about

It’s very tough to have USP’s nowadays because as has been said, most agents offer a very similar service. It needs to be something that customers want/value and that none of your competitors have – a tough one

For example, Rightmove is something people tend to value but all agents have it
A nice picture of a bumble bee on your for sale boards might not be something your competitors have but will it be valued by your clients

For some agents knowing your local area better than anyone may be a USP (shameless plug to my recent blog post) but only if you work hard at it and have the passion to deliver it in a way that makes clients think – I value that

Peter – loved the link and the phrase “an inch wide and a mile deep.” – kind of sums it up for me

Find something you are passionate about and focus on it – if it isn’t from passion and hard work then any number of your competitors have the ability to copy it and de-value it

Paul Endacott said:

Natalie,

Actually I do not believe there is such a thing a USP. It’s all bull.

I don’t agree with you here Paul.

One of my customers almost exclusively deals in probate valuations and sales in his area. He only runs a small operation, but he is known for it so tends to get the majority of that business. Probate sales also tend to have complexities and specifics which others sales don’t of course, so he carries a particular expertise which people can perceive the value in..

It’s just an example, but USPs are real enough – if you can identify and cultivate them.

Barn conversions, farms, penthouse apartments – they all have the potential..

Martin

USP’s do exist!

Its just that nobody really has one! And thats because most agents are not innovative enough to create one. So they end up giving some bog standard lines about customer service etc.

A USP is not something every company will have as standard, only few will find and or create a REAL USP and those are the ones who will truly be successful.

One area where agents are seriously lacking is the way they market themselves. Away from our industry, take a look at the Comparethemeerkat.com advert. Nothing majorly unique about the site. But the advert is pure marketing genius, or look at the Honda Cogs advert. Things like this really make your company stand. out from the crowd.

No question the Meerkats have stolen the show. Even today I still marvel at the genius that came up with the idea. But its a driver not a USP. If there are more than one of something, it can’t be unique.

I could argue that LUSH in itself is a USP. But I leave you with this thought…In business, being the same is as good as being invisible.r

I took this from Seth Godin:

‘…When I was a kid, I loved the Legion of Super Heroes and the Justice League of America. These were comics for slumming comic book writers, fun and sort of stupid stories where a whole bunch of superheroes would get together, hang out in the clubhouse and then work together to destroy some sort of monster that any individual superhero could never have bested.

Anyway, near the beginning of most of these comics was a scene where a stranger would meet the team. Inevitably, the heroes would introduce themselves. Of course, Batman or Superman wouldn’t need an introduction, but the lesser (lower rent) heroes had to speak up and describe their super power.

“I’m the Wasp. I have the ability to shrink to a height of several centimeters, fly by means of insectoid wings and fire energy blasts.”

Some fancy marketers might call this a positioning statement or a unique selling proposition. Of course, it’s not that. It’s just her super power…’

So let’s imagine you are a small real estate agency at a large gathering of your esteemed colleagues. John Smith from Savilles introduces himself. You know Savilles, what they do and you know their superpower. Like superman, he doesn’t need to tell you he has xray vision. But he probably doesn’t know your superpower. Hi, my name is Paul and I am a real estate agent. Nope, it should be high my name is Paul and I am real estate agency currently specialising in Olympic rentals etc etc.

I am not trying to promote Paul by the way, but he is the only agent in this debate so using him by way of example.

PS. the administrator says keep your comments on message please Paul .

Hmmm, yes, Paul. Waffling. So the meerkats are not a USP but the big red bus is? Who’s waffling now? When you’ve worked out what it is you’re trying to say, maybe you could get someone to write it down for you!

USPs may or may not exist formally. As Natalie says, however, what certainly does exist and what enables one business to survive over another is a combination of things which add together to give them an edge. There may / may not be one single thing that you could hang your hat on to call a USP. The “problem” with estate agents (as dear old Paul says in his earlier post) is that they all claim to be different when really, at heart, they all provide a service that my Grandmother could provide and, for that matter, set up a business tomorrow to do just that!

Go on then James. Set up an agency tomorrow. Off you go then, be sure to let me know what its called so I can follow your progress.