Sep 10, 2020
While they fell away somewhat during the pandemic, cases of ‘for sale by owners’ and use of discount brokers are beginning to rise once more. Particularly in the past couple weeks, Matt and Garrett have been noticing an uptick in this area, and so today’s episode is all about preparing for potential conversations with people regarding these topics.
Our hosts begin by reviewing the 15/80/5 Percent Model, and the need to prepare yourself to be able to explain your value to potential clients. They look at a case study out of Girdwood, Alaska, and then explore the steps to follow for identifying and speaking with those who might be considering ‘for sale by owner’ or discount brokers. After sharing a professional tax accountant analogy from their past, they go on to review the questions to ask up front, the power of storytelling, and the importance of having answers and samples prepared which demonstrate your value. Matt and Garrett conclude the episode by announcing a very special milestone along with an upcoming episode to celebrate it. As they point out, 80% of people will go with perceived value in a transaction, and today’s show is filled with advice to help ensure that your true value is on full display making you the trusted real estate advisor who is so very much needed these days.
Episode Highlights:
- The 15/80/5 Percent Model
- Preparing your ‘for sale by owner’ tools and being able to explain your value
- A case study from Erin Eker in Girdwood, Alaska
- The steps to follow when identifying and speaking to those considering ‘sale by owner’
- Their professional tax accountant analogy
- The questions to be asking people up front
- The power of storytelling
- Having answers and samples prepared which show your value
- A very special milestone and a special upcoming episode
Quotes:
“Historically, ‘for sale by owners’ have only been…about 10% of the overall market at, kind of, the high, typically hangs around 8%.”
“Then we have 80% in the middle that will always go to where perceived value is, but if perceived value is not shown, they will go to the cheapest.”
“I would want everybody out there to be able to explain their value.”
“I’m looking at protecting the client.”
“You’re worth every single penny, but if the client doesn’t understand, you’re not.”
“Identify the current perception that they have about this process, and then see if we can inspire further thinking that might change the perception.”
“This is why you’ve got to ask a lot of questions, have the conversations, tell stories, and allow them to benefit from your experience and the experience of others so that they can make the most appropriate decision for them.”
“This will only make you better.”
Links:
www.TheNinjaSellingPodcast.com
Email us at TSW@TheNinjaSellingPodcast.com
Ninja Selling
@ninjasellingofficial
Ninja Coaching:
@ninja.coaching
Garrett
garrett@ninjacoaching.com
@ninjaredding
Matt
matt@ninjacoaching.com
@matthewjbonelli