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Main Subject - Positioning Strategies For Real Estate Agents
Just recently I was asked to do a talk for my good friend and co-author
of our best-selling book in Singapore titled Get Rich Now: 15
Strategies from a Self-made Millionaire, Dr Dennis Wee. (Dr Wee is one of
Singapore’s most celebrated entrepreneurs. Despite not having completed his
high school education, he managed to start and build up his own re
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
al
estate company, Dennis Wee Group, to become of Singapore’s leading real
estate companies generating S$3.8 billion worth of sales in 2006.)
He wanted me to share some marketing secrets with his real estate agents and I was more than happy to do so because I believe there’s so much more that agents can do to position, brand and market their servi
He wanted me to share some marketing secrets with his real estate agents and I was more than happy to do so because I believe there’s so much more that agents can do to position, brand and market their servi
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
es.
Sadly, most agents, whether in real estate or financial services
(insurance) or any other industries, tend to see themselves just as a
salesperson. This perception of themselves is limiting their growth and income!
By thinking that they are just salespeople, they don’t see the possibilities of growing their careers into full-fledge businesses.
By thinking that they are just salespeople, they don’t see the possibilities of growing their careers into full-fledge businesses.
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
There are
so much more benefits for someone to think big and build a big business,
compared to just existing, and making a living. Donald Trump said: “If
you’re going to be thinking, you might as well think big.” But that’s
another topic for another session.
Here, I’m going to show you some detailed examples of how an agent can differentiate hi
Here, I’m going to show you some detailed examples of how an agent can differentiate hi
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
self using some simple positioning and branding
strategies that I have used with other clients to great success.
Many people perceive that being an agent in any industry is like being a salesperson. Someone who is always competing with all the other thousands of salespeople in the industry. To a certain extend it is correct. Those other agents are
Many people perceive that being an agent in any industry is like being a salesperson. Someone who is always competing with all the other thousands of salespeople in the industry. To a certain extend it is correct. Those other agents are
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
also looking for the same deals that you are. It
is a matter of who gets the deal first. So they are relentlessly going
out there to cold prospect.
Now, I am not a fan of cold prospecting. To me, cold prospecting is like bashing your head against the wall, hoping it will crumble before you start bleeding… most people just end up being very disapp
Now, I am not a fan of cold prospecting. To me, cold prospecting is like bashing your head against the wall, hoping it will crumble before you start bleeding… most people just end up being very disapp
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
inted. Why do
you think new agents don’t last long? I strongly suspect it’s because
they realized that their heads can’t go against the wall.
But there are ways to turn the table around. In my talks I like to ask the audience: Would you prefer to work hard and look for prospects, OR would you prefer to let your prospects seek you out?
The answer
But there are ways to turn the table around. In my talks I like to ask the audience: Would you prefer to work hard and look for prospects, OR would you prefer to let your prospects seek you out?
The answer
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
is obvious.
But more than just having less work and an easier time, there are deeper psychological advantages to being able to let your prospects seek you out instead of you cold prospecting them. Simply said, when you seek someone out, you will be open to the person’s ideas, advice, expertise. That is the reason you seek him/her out in the first
But more than just having less work and an easier time, there are deeper psychological advantages to being able to let your prospects seek you out instead of you cold prospecting them. Simply said, when you seek someone out, you will be open to the person’s ideas, advice, expertise. That is the reason you seek him/her out in the first
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
lace—to get expert
advice.
There won’t be the wall of resistance you’ve grown accustomed to when you cold prospect. In fact, now it’s them who are jumping over hoops to seek you out in your domain. Man, it’s always exciting to talk about this!
Believe me, it’s a whole new paradigm. Imagine you becoming a celebrity overnight and people are just
There won’t be the wall of resistance you’ve grown accustomed to when you cold prospect. In fact, now it’s them who are jumping over hoops to seek you out in your domain. Man, it’s always exciting to talk about this!
Believe me, it’s a whole new paradigm. Imagine you becoming a celebrity overnight and people are just
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
doing everything they can to get in touch
with you. Think of stars of reality shows like Survivor and American
Idol… It is that powerful!
So how can you achieve that?
Let’s look at a typical scenario:
You have probably have opened your letter box day after day only to find it stuffed with piles of flyers from various real estate agents. Just tak
So how can you achieve that?
Let’s look at a typical scenario:
You have probably have opened your letter box day after day only to find it stuffed with piles of flyers from various real estate agents. Just tak
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
a closer look. You will realize that all of them claim to be the
“specialist” in the area. Now if everyone is a specialist, then does it
matter who you call? Absolutely NOT!
“But I’m different from the rest. I have more experience, quality, etc…” you protest. Let me be upfront. It doesn’t matter who you are or what your background is. If the pro
“But I’m different from the rest. I have more experience, quality, etc…” you protest. Let me be upfront. It doesn’t matter who you are or what your background is. If the pro
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
pects don’t recognize that straight away, you are just
like everybody else. No matter how different you think you really are.
Repeat after me: If you are like every-body else, you are a no-body.
Remember: It’s all about their perception, not yours.
So instead of being just another area specialist, be different. So far I’ve not come across any agent
Remember: It’s all about their perception, not yours.
So instead of being just another area specialist, be different. So far I’ve not come across any agent
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
who positions him/herself as the
specialist to serve “first-time home buyers”. Do you think that is powerful?
Absolutely!
First-time home buyers are inexperienced. They don’t know what to expect, what the whole buying process is going to be like, how long will it take, what possible hiccups might occur, etc. They are in a place where they don’t
First-time home buyers are inexperienced. They don’t know what to expect, what the whole buying process is going to be like, how long will it take, what possible hiccups might occur, etc. They are in a place where they don’t
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
know what they don’t know. Do you think they have different
needs/concerns compared to those who have bought a house before? Of
course! If you are able to gain their trust, do you think they will look
for someone else?
The point is this: you have the information that first-time buyers are looking for (in fact all real estate agents should know the
The point is this: you have the information that first-time buyers are looking for (in fact all real estate agents should know the
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
se
information). But by letting them know that you are the expert who can guide
them through the whole process safely, will in itself, earn you a closed
deal.
You might need to make some minor changes in the way you do things, such as explaining the buying process more thoroughly, going through the nitty gritty details that you won’t normally ne
You might need to make some minor changes in the way you do things, such as explaining the buying process more thoroughly, going through the nitty gritty details that you won’t normally ne
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
d to with experienced
buyers, etc. But all these will help to cement your positioning and
branding as the expert to serve first-time buyers. And once your branding
gets out, you will be busy with so many referrals for other first-time
buyers. Is the first-time buyers market huge enough for you?
Once you have established your branding, it is easy t
Once you have established your branding, it is easy t
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
o market your
services. You can easily get the publicity that once used to be impossible
for you. If the media wants to get an opinion on what first-time buyers
think about a new housing policy, who do they look for? They will
interview the expert (you). And after appearing in the media, you will have
gained even more credibility. Can you see how
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
this will snowball into
your profits?
It all starts with creating a powerful positioning, branding and marketing strategy that is suitable for you.
What other positioning can differentiate you? How about: • The property investments expert (investors love to work with those who understand their investing needs, someone who is not just another age
It all starts with creating a powerful positioning, branding and marketing strategy that is suitable for you.
What other positioning can differentiate you? How about: • The property investments expert (investors love to work with those who understand their investing needs, someone who is not just another age
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
nt); or
• Divorce cases specialist (they definitely have different needs as compared to the usual buyers); or
• Downgraders or upgraders; or
• Serve only those looking for luxurious, high-end houses worth $XX amount and above (your service must of course reflect that); and
• Many more!
As you can see, it is critical to create a po
• Divorce cases specialist (they definitely have different needs as compared to the usual buyers); or
• Downgraders or upgraders; or
• Serve only those looking for luxurious, high-end houses worth $XX amount and above (your service must of course reflect that); and
• Many more!
As you can see, it is critical to create a po
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
erful positioning to get
your prospects to start looking specifically for you. I assure you I’m
not an expert of the real estate industry. But I’m an expert in
positioning, branding and marketing. These same principles can be applied in
other industries, such as the financial services industry, perfectly
well.
So start positioning yourself today
So start positioning yourself today
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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