Positioning Your Home

POSITION YOUR HOME LIKE ITS THE NEXT IPHONE NOT THE LAST FLIP PHONE


By Front Street Brokers

iPhone

Every time Apple comes out with a new iPhone, the media goes bonkers. So do consumers as they wait in crazy long lines for their chance to buy the latest iPhone, no matter the cost. There are cheaper smartphones on the market, yet many people want the iPhone, not its competitor. You never hear about anybody standing in line for Samsung’s latest release, even though those phone are pretty darn cool.
The media only makes a spectacle of Apple. They don’t hover or speculate on rumors regarding the other companies. Their products aren’t even a blip on their radar—proven by how little you hear about them in the news. Is Nokia even in business anymore?

So what does Apple do differently?     

This is the kind of question that smart entrepreneurs ask. If I’ve learned one thing about success in business, it’s that lasting success is rarely a fluke. Decade after decade, dominating success, that is no accident. Somehow, someway, it was engineered. It was planned. And, of course, it has been maintained—which may be the most difficult part, given the challenge of continually needing to “wow” consumers, readers, viewers, listeners, customers, and clients.  
    
Regardless of the business, following up your last innovation is no easy feat. Those companies that are successful at it deserve great study. That’s how I’ve been able to deliver unparalleled results for my clients over the years. I am always studying. Always learning.


3 Keys to Apple’s Record-Breaking Success:


FIRST: BE STRATEGIC.

Apple doesn’t just manufacture a product, throw a box around it, rush it to store shelves, and expect it to sell. That is what all of Apple’s competitors do. But Apple does not. It starts with the design—from the perspective of the consumer. In other words, “Focus on the Phone, not the product.”

Rarely did you hear Steve Jobs ever talk about the various features of Apple products. Standing on stage, he didn’t push the speed of the iPhone’s processor or the screen resolution, for example. He knew most people didn’t care. And the ones who did could easily find that information on Apple’s website or product literature. In other words, Jobs, (and this has continued beyond his death) focused on the story. He went out of his way to emphasize how the product affects you 
    
Jobs talked about how annoying it is to carry both a phone, for example, and an MP3 player and how, with an iPhone—when it first released—you’re condensing them down to one easy-to-carry device. It’s about simplicity, productivity, style—all things he knewpeople were interested in. But don’t miss the big point. He focused on eliminating people’s problems, not on selling his product’s best features. This takes extreme discipline. Because when you launch a product, or when an agent works with a client to sell a home, everyone is excited by the technical specs or upgrades, and all of the different ways your product/home pushes the envelope or is superior, and it’s easy to assume your customer/buyer feels the same way. But, I will tell you, from experience, typically they don’t. They care about their problems and how your product/home is going to fit into their life. 

When I see properties marketed the way many agents market properties, I cringe, because those homeowners, their clients, are losing profit. Instead of marketing like Apple. They are marketing like Nokia. Ouch!
    
TWO: BE REVOLUTIONARY. 

When Steve Jobs took the stage, the whole world watched. This world came to understand that Steve Jobs was different. He was a visionary. A leader. He lived and breathed innovation. He saw himself as an outcast, and as someone who went against the grain. Steve Jobs was no copycat. Nor is any product Apple releases. When selling your home. The same principle should apply. Be different. Be revolutionary. To have your home be seen as just another home for sale is a death sentence. In the sea of smartphones, you want to be sure your home is positioned as THE iPhone. 

The importance of positioning—innovation versus commoditization—is something I talk about in my book, The Value Driven Approach To Sell Real Estate: A guide to protect yourself from Real Estate Greed & bank an extra $30,000 by thinking like Warren Buffett.

THREE: DRAW OUT THE SUSPENSE AS LONG AS YOU CAN.

Apple doesn’t release products. They release stories. Suspense is not something inherent to products. Suspense is something you build. Suspense, in literary terms, is a story element. And it is built through a series of well-thought and planned events. The preparation and pre-release phase is when that buzz peaks. Anticipation grows. Buyers begin to line up. They camp out. The news media starts to speculate. And when this happens, suspense reaches its highest point. That’s when Apple releases the product. How else does one sell 10 million iPhones in a week?
Value Driven ApproachThe real secret here is the power of story, and being smart enough to recognize that you must architect a series events to create this buzz.  
    
Most agents rush to list the home for sale, before the buzz can be built or before the home is truly ready to command the highest price from the market. I suspect this is because they don’t fully understand the impact that the power of story can have on a home’s value. Getting that story right is important. If you would like to learn more about Front Street Brokers Value Driven Approach to sell real estate, follow the to get a free copy