Brand Positioning
“To those who value the unique, Sotheby’s International Realty is the local real estate services provider that offers unrivaled access to qualified people and distinctive properties around the world.”
Brand positioning defines the way constituents think about our category and our brand. We define brand positioning in three components: the group of people who are a likely prospect or target for our brand, the frame of reference or competitive set we are one of, and the most compelling benefit that distinguishes our brand from all others in the competitive set.
Target
The target audience describes the group that will be attracted to the brand and those we want to bring into our brand experience. They are defined by commonalities that transcend different demographic groups and unite our target on a deeper level, such as their highest priorities, strongest motivations, greatest felt needs, or important behaviors.
To those who value the unique,…
Sotheby’s International Realty consumers are looking for a property that reflects their unique values and lives. They do not want to own or buy a cookie-cutter home; instead, they feel that their home is unique and special. We recognize that everyone has their own sense of uniqueness, and the brand celebrates that individuality.
Rather than using a qualifier such as household income or home value, we define the target by a like mind-set or lifestyle. This target definition opens up the Sotheby’s International Realty brand to people who perhaps have not experienced the brand before because they thought it was out of reach. This signifies that Sotheby’s International Realty is a brand that is open to all consumers who value the unique, regardless of their net worth.
Frame of Reference
The frame of reference identifies the category in which the brand will compete and the need for which we want to be considered. It sets the backdrop against which our brand has a compelling benefit.
local real estate…
Real estate is a highly personal and local business. Regardless of whether consumers interact with an agent who is part of a national brand or a local boutique, they view their relationship solely on a personal level with the local agent. Defining the Sotheby’s International Realty brand as a local provider emphasizes that we understand the importance of these personal relationships. It also gives Sotheby’s International Realty agents credit for our specific expertise in local markets. Finally, it still recognizes and allows the brand to compete with international brands–all of which have local branch offices.
services provider…
“Services provider” allows the Sotheby’s International Realty brand to get credit for our offerings beyond just real estate. The company’s offerings include relocation services, title searches and insurance services, closing and escrow services, appraisal services, home warranties, etc. Further defining the business in this way leaves the door open to extend into other real estate-related business opportunities in the future.
Most Compelling Benefit
The most compelling benefit is what sets us apart from other brands in our frame of reference. It identifies the needs and desires of our target that will keep our brand relevant and powerful over time–through economic cycles, cultural changes, and the evolution of our brand. It lies at the intersection of what’s meaningful to users and what strengths the brand delivers.
that offers unrivaled access…
Currently, no other real estate company comes close to being able to offer access to the people and properties that the Sotheby’s International Realty network does. The company recognizes that this most compelling benefit is something to be mindful of and strives to keep competitors at a distance in order to stay unrivaled at all times. Forfeiting this unique ability to a competitor would place the ultimate success of the Sotheby’s International Realty organization in jeopardy regardless of the perceived cachet of the brand name.
to qualified people…
Sotheby’s International Realty consumers, through our unique connection to the Sotheby’s auction house, have access to a valuable database of potential prequalified buyers and sellers. “Qualified people” also refers to the Sotheby’s International Realty regional senior vice presidents, whose luxury real estate experience and long-term relationships with potential buyers and sellers add to the brand’s unique value proposition. And because of this unique access to qualified people, Sotheby’s International Realty agents have the opportunity to expedite the sale of properties at higher prices.
and distinctive properties…
Consumers already give the Sotheby’s International Realty network credit for having interesting and distinctive properties–not just the everyday. The brand celebrates the unique qualities of each and every home–regardless of price range–because it recognizes the universal desire to have a home that is truly special in the world’s eyes. The Sotheby’s International Realty agent helps buyers and sellers find and celebrate those special distinctions.
around the world.
The Sotheby’s International Realty portfolio of properties extends both around the corner and around the world. The brand recognizes that the perfect buyers and sellers can come from all over the world and are not limited to just a particular market or region. This asset provides a key differentiator to the “access” referenced earlier, particularly to sellers who would greatly benefit from the global exposure that the Sotheby’s International Realty brand would offer their properties.
