WHAT IS YOUR UNIQUE SELLING POINT OR PROPOSITION?

WHAT IS YOUR UNIQUE SELLING POINT OR PROPOSITION (USP)?

By Anthony O. Anyakora

“Great marketing is all about telling your story in such a way that it compels people to buy what you are selling.  –Gary Vaynerchuk

Property developers usually embark on real estate investment projects to maximize profit among other objective(s). They achieve this goal by adopting various marketing strategies in other to attract prospective investors in a very competitive market where only regular profitable sales would keep you in business. Real estate developers have good understanding of the fact that there are different strokes for different folks thus most of them have attempted to create a unique selling point or proposition (USP) for their brands.

A Unique selling point or Proposition (USP) is a unique feature of a product, service or branded item which is associated with an advantage over the competition. It can be product                      feature, service feature, unique design, technical characteristics, innovation, pricing etc.

The USP is of central importance for the establishment of a customer’s values.

Real property investors have various features they look out for before they commit their funds into any given project. These features also serve as the unique selling point for a property developer who has good feasibility and viability appraisal of their project. When this is adequately carried out, it would be the case of demand meeting supply. Some of the features prospective investors look out for includes but not limited to:

*Location

*Design

*Size

*Price

*Home feature

*Landscaping

*Recreational facilities

Location is key in selling any piece of real estate. The price of a four bedroom stand alone house in Ikoyi (a high brow area of Lagos) is not the same as a four bedroom stand alone house in Ajah (a middle class area of Lagos); even if they are both of the same design. The location makes the difference. The topography of the area can also be considered under this aspect for instance, if the area prone to flood; is it a densely populated area; proximity to the Central Business District (CBD); proximity to a market, health facility etc is an added advantage.

Designs likewise play an important role in pricing. Client would be willing to pay more for contemporary designs rather than conventional designs. It is believed the more sophisticated the designs the more the cost of construction. These designs employ the use of modern technology to meet the demand of the prospective investors.

Size of the property in terms of workable space cannot be overemphasized. In major cities where the cost of land is usually high most property developers tend to maximize every available space for profit, thereby reducing the available working space in the building.

Price index is another factor that informs a client’s decision to purchase a property. Once the seller and the prospective buyer/investor can agree on a given price, the transaction is said to be signed, sealed and delivered.

In this age and time when almost every estate has recreational facilities attached to them no matter how small. People would prefer to buy into an estate that comes with recreational facilities as against to the one that does not have these facilities such as swimming pool, gym and children’s play area.

Technology has come to stay in every aspect of our lives. Little wonder people are now desirous to live in smart homes where everything is automated. Also fossil fuel is being faced out as people are now embracing renewable energy solutions as well as biotechnological solutions. 

For some they just want to be close to nature enjoying the serenity and beauty it brings. For such investors, landscaping could be a deal breaker. Therefore the onus lies on the investors to draw up a scale of preference to suit their investment decision.

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