Features And Benefits
To assist a client in finding a home, it is necessary to know the difference between Features and Benefits.
Click here to download your Features and Benefits Training Guide
Features and Benefits Defined
Features are what the house contains or possesses. These are its tangible assets. These include the color, shape, size, price etc.
Benefits, on the other hand, are what this particular house can do for the client. Benefits can be considered like more of the “intangibles”. What problems will it solve? How conveniently located it is to schools, shopping or work? Is it near other areas like sports parks, natural open spaces etc.? Is it in a desirable community with a great HOA?
Features are important to clients ONLY when they offer some kind of Benefit.
Example: A house with a pool may not entice a family with small children but may be a terrific benefit to a family with teenagers. A single level “ranch style” house may be a benefit to an elderly or handicapped couple but be more of a neutral feature for others.
Examples of Features vs. Benefits
People do not buy computers for their contents of chips and circuits. They buy them for the speed, organization, versatility and reliability they provide.
Another fun colloquial expression sums it up nicely: “People do not buy quarter inch drill bits; they buy quarter inch holes!” This means that the end goal is to have a certain sized hole and one needs to buy the right tool to make that happen. Just like with homes, people will rent a place if the features of the home offer some kind of benefit that they are looking for.
Because features and benefits are so closely related, do not count on clients to make the association on their own. It is your job to make it for them.
Pointing out benefits does not have to take a long time. Your time is valuable.
Exercise to Help Identify the Benefits Behind the Features
The following is a simple way to identify underlying benefits behind the features: Name a feature and follow it with the words “so you”. For example, “This house has three bedrooms, so you have a room for yourself and one for each of your two children.” (A house has Features SO YOU Benefit.)
Being able to describe the house in terms of benefits allows you to impart your understanding of their needs, and will help define the area and the homes you are able to offer them. It also will elicit their trust in you and in our company! It lets the client know you care about them and you are making your best effort to provide them with what they are looking for.
