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Category: 6. Relationship Selling

  • The January FOMO Phenomenon

    The January FOMO Phenomenon

    After 20 years as a full-time professional REALTOR® and being a serious student of market trends, I’ve learned a few things. One of them is the ‘January FOMO Phenomenon.’

    One thing that never changes (in my local Calgary market, at least) is that December and January are ALWAYS the slowest two months of the year for sales. Sales are usually marginally higher in January, but not always! The numbers between the two months have been remarkably close over the past several years.

    This contradicts what most people think (including practically every other agent I know). After all, it’s easily explainable why sales are slow in December. It’s the dead of winter, and who has time for house shopping in the weeks leading up to Christmas?

    But why are sales so slow in January?

    Most people considering buying a new home wait until the New Year to start their search. This makes sense. New year. New beginning. New home!

    And, indeed, there is always way more showing activity in January than in December. It’s not even close. I typically have three to five times more showings in January! 

    But here’s the punch line:

    More showings does NOT equal more sales.

    This can be super frustrating for sellers. They’re getting way more activity, but still, no offers! Why?

    Here’s the simple explanation: Most buyers looking in January are getting an early start on their search, and they don’t feel any sense of urgency. Even if they come across a listing they love, they often think, “This one is great! But there are lots of new listings coming on, so let’s wait and see what else pops up over the next month or two.” 

    They fear missing out on a future listing that could be better than the one they already like. That’s FOMO.

    Then, as time passes, sure enough, there are more listings but ALSO way more competing buyers.

    Suddenly, we’re in the middle of the spring market! It’s remarkable how quickly we transition from the ‘winter doldrums’ to the ‘spring frenzy,’ which often catches buyers off guard.

    In most cases (not always), if a buyer has flexibility, they should start their search sooner (yes, in January) rather than later (when the market becomes significantly more competitive). 

    Of course, you still want to ensure you’re buying something good for a fair price! But the more time you put into ‘doing your homework’ (viewing properties), the more comfortable you’ll be in making a decision, even if the market conditions start getting hotter.

    What about sellers? In most cases (but not always), listing your home in January is not much different from listing it in December (it sucks). As I stated, even if you find a very interested buyer, FOMO may prevent them from writing an offer. 

    Ideally, if sellers have flexibility, they should list closer to the beginning of the spring market when there is the most buyer activity. 

    By the way, ‘Early Spring’ is always a better time to list than ‘Late Spring’ (even if you think that’s when your house shows its best), but I’ll leave that topic for a future Rant. For now, suffice to say I’d rather my house showed 95% with 3X the buyers, compared to 100% with only 1/3 as many buyers (the fussiest ones to boot).

    All the best in 2025!

    Ted

    P.S.  I wrote this at the beginning of January, and today (Jan 20), it’s clear that we’re in for another banner spring market, barring any outside interference, such as American tariffs. What about your market? Let me know in the comments!

  • The Monday Morning Report

    The Monday Morning Report

    As in any profession, there is a wide variance in competence from one real estate agent to another.

    But even a REALTOR® in the Top 1% of skill, knowledge, and experience can be, and often is, guilty of perpetuating the biggest complaint there is in the business:

    Lack of Communication

    “We met with the REALTOR®, and they seemed extremely skilled and knowledgeable. They had a strong game plan, so we decided to list with them. They walked out the door with our signed listing contract, and that was the last we ever heard from them! That is, until two weeks before the listing expired, when they finally called, demanding that we reduce the price and extend the contract.”

    I hear this all the time or something similar, often about big-name agents, and these sellers have a perfect right to be angry with the treatment they received. 

    Early in my career, I realized this was a massive problem in the industry, and I was determined to be different.

    Over the years, I’ve set up various systems and procedures to ensure I was never one of those agents. For example:

    The Market Watch System

    I set up every listing so my clients automatically receive a notification whenever there is a new competing listing, a sale (firm or pending), a price reduction, etc. After all, it’s one thing for your clients to know what is happening with their own listing (showings, feedback, etc.), but it’s even more important to know where they stand compared to their competitors.

    The Market Watch System is one of several ways I have to keep my listing clients up-to-date with important information. But it’s only been in the past 2-3 years that I’ve added what has proven to be my #1 most important communication tool:

    The Monday Morning Report

    This is a review of everything that happened in the past week, including my personal commentary on the Market Watch System (see above). How might this new listing affect them? Why do I think that listing sold and theirs didn’t? Should they be concerned about this price reduction?

    This report keeps my clients consistently well-informed, but there’s an unexpected bonus to this system that I didn’t expect when I started doing it:

    It keeps me better informed, too!

    I’m 100% committed to sending this report to every client every Monday, so no matter how busy I am, I have to stop whatever I’m doing and closely examine what’s happening with each of my listings at least once per week. I’m usually watching closely anyway, but this is a surefire way to ensure I never forget to take that extra-close look every Monday.

    And it’s NOT a hassle. It’s easy and highly effective when you do it consistently and follow my simple system.

    My clients always clearly understand where they stand in the market, allowing them to make informed, intelligent decisions.

    This creates undying loyalty and endless referrals. That’s what you should be striving for.

    • Coach Ted
  • The Ultimate Sales Superpower

    The Ultimate Sales Superpower

    Last RAM, I talked about the #1 most powerful question to initiate meaningful dialogue for prospects:

    What’s your biggest reason for moving?

    Click here to re-read why this question is 10X more potent than all those other questions most agents machine-gun at their prospects.

    ____________________

    You know how I always talk about not being a Salesy Slickster? 

    Let’s be clear: You must avoid old-school manipulative sales “skills.” NOBODY falls for that crap anymore. It’s just a big turn-off.

    Rather, we need to work on actually delivering exceptional results for our clients, which is essentially what the Agent Skills Masters Program is all about. 

    But in order to deliver exceptional results, you still need “new-school” sales skills!

    It boils down to what you care about. For example, are you focused on where your next commission cheque is coming from? Or are you focused on how you can help your clients achieve their goals?

    And, assuming your my kind of agent and you’re genuinely focused on your clients, what’s the ultimate sales superpower?

    The ability to read your prospects’ minds!

    Well, that would sure be nice, wouldn’t it? But how, pray tell?

    It’s called EMPATHY. 

    But since empathy sounds like sympathy, most of us think of this as a soft skill that we all have naturally, and we don’t need to do anything to implement it. That’s dead wrong.

    Here’s how you should apply empathy to become more successful:

    Think about what your prospect really cares about. If you were them, what would you do? And why? What’s the real reason behind their “why”? What drives them? How do they get rewarded? 

    Putting focus, time, and energy into EMPATHIZING makes everything so much easier. 

    Instead of talking, pitching, persuading, pressuring… use EMPATHY. Think like they do, and watch your sales go through the roof.

    You can start by asking the right questions, such as:

    What’s your biggest reason for moving?

    Then, LISTEN carefully to the answer and probe further, always working to gain a greater understanding. That’s EMPATHY, and it’s your ultimate sales superpower.

    Thanks to Brian G. Burns for the inspiration on this RAM.

  • The #1 Most Powerful Question to Initiate Meaningful Dialogue with Prospects

    The #1 Most Powerful Question to Initiate Meaningful Dialogue with Prospects

    Module 4 in ASMP is called “The Follow-Up.” I devoted an entire module to this topic because it’s something that most agents suck at. Most just lack a simple system to follow.

    Or, their system is writing notes on scraps of paper and promptly losing them under their car seat. Have you ever found a note about a “hot lead” two weeks later? Oops! $10K down the proverbial toilet.

    This is why I include a ridiculously simple spreadsheet in “The Follow-Up” and show you how to use it. “The simpler, the better” is my motto throughout the course.

    (By the way, my entire course only costs a quarter of the last $10K you flushed.)

    Beyond the basic core principle of keeping track of prospects, most agents don’t know how to ask the right questions to nurture the relationship and create a positive atmosphere that promotes ongoing dialogue. 

    If you’re reading this, chances are you genuinely want to help people get what they want. And you understand that the more people you help, the more success you’ll have.

    But most agents don’t understand that the easiest way to succeed is to understand WHY your prospects want what they want.

    For example, when someone expresses interest in moving, you probably launch into a string of questions:

    What’s your price range? What areas are you interested in? What’s your time frame? These are all good questions to ask, eventually…

    But here’s a much better question to ask first:

    What’s your biggest reason for moving?

    When you understand their motives, you can focus the conversation on helping them achieve their wants and needs by making helpful suggestions and adding value to the discussion.

    Isn’t that far better than machine-gunning questions at them and sounding like a Salesy Slickster (even if that’s the opposite of your intention)? 

    Perception is far more powerful than your best intentions, after all.

    Next RAM, I’ll talk about some other powerful prospecting questions.

    Or, does it make sense for you to jump off the fence and sign up for my course here? You get lifetime access for a one-time fee, go at your own pace, do it over and over again if you want, and it’s 100% guaranteed. If it’s not for you, just tell me, and you get all your money back.

    It’s almost October. Now is the best time to learn some new skills, systems, and procedures and be ready to dominate in 2024!

  • The Deceptive Statement, “Anyone Can Post Your Listing on the MLS”

    The Deceptive Statement, “Anyone Can Post Your Listing on the MLS”

    “Anyone can post your listing on the MLS system.” 

    This is one of the most deceptive and misleading statements in real estate marketing.

    Misleading by “telling the truth” is so pervasive in daily life that psychologists have recently employed a new term to describe it:

    Paltering—the active use of selective truthful statements to mislead. 

    Politicians have a fine art out of paltering. And frankly, so have many REALTORS®.

    Of course, every REALTOR® indeed can post a listing on the MLS system. However, the question is not whether you can do it or not. 

    The question should be,

    “HOW WELL can you do it?”

    How well do you understand the target buyer?

    How effective are you at focusing on the best features of the property? 

    How compelling is your overall ad copy?

    And, of course, how good are the images you use?

    Stating, “Anyone can post your listing on the MLS,” implies that the quality and effectiveness of one listing is the same as the next. But as you are well aware. Nothing could be further from the truth!

    Let’s take a step back and ask, “How important is the MLS System, anyway?” To find the answer, simply ask yourself:

    How does every serious, qualified, active buyer find out the details about your listing? 

    It’s through the MLS system, of course! 

    There’s actually no other way except possibly by driving by and noticing the For Sale sign or attending an Open House. But even then, serious, qualified, active buyers already know all about it! Right?

    So why do so few REALTORS® even discuss this most crucial aspect of marketing property?

    Again, it’s because “anyone can post your listing on the MLS system,” and most agents don’t know how to differentiate themselves from their competitors.

    But I do.

    What about you?

    Do you feel confident demonstrating how your listings stand out from the crowd with superior photography, compelling ad copy, and other subtle elements that contribute to the most powerful MLS presentation possible?

    Can you confidently state that your clients will get more high-quality showings from serious, qualified, active buyers and dramatically improve their odds of selling quickly for the highest possible price?

    If not, what are you doing? Isn’t this your job?

    Note: I’ve emphasized the words serious, qualified, and active several times because if a buyer is not serious, not qualified, or not actively looking, then your seller simply doesn’t care about them, right? Or at least they shouldn’t. 

    What’s the point of marketing to people who are not serious, not qualified, or not actively looking?

    Here’s a challenge for 2023: Before you plan on finally starting to use video, before you finally figure out how to have a better presence on social media, before you up the budget on mailings and bus benches…

    Figure out how to improve the impact of your listings, and then incorporate this into your listing presentation.

    The easiest and most effective way to market yourself is to demonstrate to potential clients that you’re a true professional at utilizing our most powerful marketing tool (the MLS system).

    Then you’ll find all that other stuff infinitely easier. 

    Marketing yourself is simple when you actually ARE better. That’s what Agent Skills is all about. 

  • The 3 Buyer Types and Why Sellers Need to ‘Price it Right’ from the Start

    The 3 Buyer Types and Why Sellers Need to ‘Price it Right’ from the Start

    When I list a property, I always explain to my sellers that every potential buyer fits into one of these three categories:

    1. Bargain Hunters – These types will wait until your property has been on the market for some time; then they’ll start lobbing low-ball offers. There’s no need to discuss Bargain Hunters any further since they’re the last type of buyer anyone would ever want to attract. So that leaves only two buyer types we actually care about.

    2. New Buyers – They enter the market continuously. Within your area and price range, I estimate there will be one New Buyer starting their search weekly (state whatever number you believe to be true). 

    However, the problem with New Buyers is that they probably have not yet gained the confidence to write an offer. So even if they come back in a week or two, you’ve lost the advantage of urgency and excitement that goes hand in hand with a new listing.

    3. Current Buyers – They’ve already seen most (or all) of your competitors, so what are they waiting for? 

    New listings! 

    This is why there’s always a flurry of showings immediately after you list. However, this rush subsides quickly. Then, you’re waiting for New Buyers to enter the market (see above).

    Of the three groups, Current Buyers are by far the most important. They’re not only the largest group but also the most motivated; ready, willing, and able to write an offer the moment they find the right property. 

    In order to appeal to Current Buyers, it is vital to ‘Price it Right’ from the start.

    These buyers need to like the property, of course; it has to appeal to their wants and needs. But one more critical aspect is required to trigger them to say, “Let’s write an offer!”

    They must perceive that good value is being offered.

    Simply put, here’s what happens when a buyer does not perceive good value:

    They focus on the negatives.

    For example (use something real that the sellers already know), we know that your kitchen cabinets are cheaper and more dated than your competitors. Everything else in the house is good, but this is one of the weaker features.

    Therefore, if a Current Buyer does not perceive good value, what might they say?

    “I don’t like the kitchen. Let’s keep looking.”

    On the other hand, if this same buyer does perceive good value, what might they say?

    “This house is excellent! The cabinets are a bit dated, but that’s not a big deal. Let’s write an offer!”

    This is Buyer Psychology 101. It’s not actually the buyer consciously thinking about whether they “perceive good value.” Instead, it’s a subconscious decision, which is far more powerful!

    The bottom line is that everything needs to add up to trigger the “Let’s write an offer!” response, including the property features, the presentation, and the price. But…

    It’s the price that is the most critical component.

    This is why it’s wrong to think, “We can always drop the price later.”

    In the example above, if the buyer doesn’t perceive good value, they remember whatever negative they didn’t like about the house. Therefore, even if you drop the price later, they’ll still think about it as “the one with the dated cabinets.” 

    Once the mind is made up, it’s difficult or impossible to change it, even with a new and much lower price.

    If this happens, and you miss out entirely on the biggest and most motivated group – the Current Buyers – it becomes more and more challenging to achieve the price you want.

    You are probably thinking, “I already know all this stuff.” Of course, you do! 

    But ask yourself these two questions:

    1. Do you have the skills to determine the correct list price (the one that will result in the highest possible sale price), every time?

    2. Do you have the skills needed to convince your client to ‘Price it Right,’ every time?

    If you master these two skills, you’ll make way more money, you’ll get way more referrals, you’ll have far less stress, and you’ll love your job even more than you do now.

    For more information about how to present pricing options, check out this article, ‘Running the Odds on Real Estate Pricing.’

  • How to Get More Clients by Demonstrating Your Expertise

    How to Get More Clients by Demonstrating Your Expertise

    Last RAM, I talked about How to Become the True Area Expert.

    If you followed my advice consistently for the past two weeks, you already know more than any other agent in town about your chosen Geo Farm area. 

    Amazing, right? What a massive difference a little effort can make!

    The next step is to learn how to demonstrate your expertise by getting face-to-face with as many future clients as possible.

    There are numerous ways to do this, including getting involved with various events and groups within your community. However, the #1 best way to meet future clients is still to consistently and effectively host Open Houses within your chosen Geo Farm area.

    Let me repeat the two keywords in that last sentence:

    Consistently and Effectively

    Most REALTORS® are neither consistent nor effective. And, most hate doing Open Houses. Why? Two main reasons:

    1. They behave like Salesy Slicksters without even realizing it. The last thing anyone wants is to get stuck talking to a Salesy Slickster.

    2. They feel awkward and underconfident in their skills, and that’s precisely how they come across. (Skills are earned; you don’t just get them by magic.) 

    In either case, these agents are better off staying at home rather than wasting their time at an Open House. After all, if you’re not going to make a positive impression, what’s the point? If you’re making a negative impression, you’re hurting yourself more than you’re helping.

    So, how do you become an Open House Expert? Well… TBH, I was reluctant to write this RAM because it’s impossible to learn this vital skill by reading a two-minute blog post.

    There’s an entire module in the Master’s Program dedicated to becoming ‘The Open House Expert,’ as well as other modules, such as ‘Relationship Selling’ and ‘Communication Styles.’ These and portions from several other modules provide a clear path to earning the skills you need to put on a hugely successful Open House. Eventually, you’ll be able to use Open Houses to pick and choose your future clients.

    We’re HALFWAY through 2022, and it’s Canada Day tomorrow! To celebrate, get the Agent Skills Master’s Program for HALF PRICE (until midnight, July 1). Simply use the discount code ‘CANADA155’. American readers, you can use the same code (it’s almost July 4!)

    As I said, it’s impossible to teach this in a two-minute blog post, but here are a few highlights:

    1. Consistency is the key. Ideally, you should be doing Open Houses within your Geo Farm at least once every two weeks during the spring, summer, and fall, so that people will start to recognize your name. 

    2. By concentrating your efforts within your Geo Farm, it will be easy to make positive impressions on future clients by demonstrating your deep knowledge of the listings within the community. Read this again: How to Become the True Area Expert. 

    3. Make your signs stand out from the crowd by using bold colours and a unique design. You want people to recognize that those are your signs.

    4. Invite the neighbours! I’m not a proponent of door knocking, except when you’re inviting neighbours to your Open House! This is a fantastic excuse to meet future clients face-to-face, and there are several techniques to make this fun and highly effective.

    5. As the Boy Scouts say, “Be prepared!” Do you know what turns people off at an Open House? When the host can’t answer a simple question, such as “How old is the hot water tank?” So make sure you brush up on all these odd questions that people ask, no matter how inconsequential you think they are.

    6. Find the right balance of confidence, authenticity, friendliness, and professionalism. Very few agents know how to achieve this. That’s why there’s an entire module dedicated to it in the Master’s Program.

    7. Understand that everyone communicates differently. If you’re communicating with everyone in your style, you’re missing out on making connections with three-quarters of your potential future clients.

    8. Don’t try to convert strangers to clients in one conversation. Developing a trusting relationship with your future clients is a multi-stage process. 

    9. Learn how to handle a room and concentrate your attention on the right people (the ones you want to work with).

    10. Learn how to easily and naturally get people’s contact information by establishing rapport and offering to send them valuable information that they can’t get anywhere else. Then learn how to follow up appropriately, without being annoying.

    That’s a lot of stuff. As I stated, you can’t learn it all in two minutes. But you could try to learn it on your own over the next few years for FREE (if you don’t count the lost commissions).

    Or take advantage of this offer. If you’re a procrastinator, I’ll probably offer this deal again in a few months. Or, you can learn not to be a procrastinator in the module “Getting Stuff Done!”

    We’re HALFWAY through 2022, and it’s Canada Day tomorrow! To celebrate, get the Agent Skills Master’s Program for HALF PRICE (until midnight, July 1). Simply use the discount code ‘CANADA155’. American readers, you can use the same code (it’s almost July 4!)

  • Have We Passed the Peak of the Market?

    Have We Passed the Peak of the Market?

    I’ll be using local (Calgary) data in this post. However, it’s not the data itself that is important, but rather how and why you should gather and demonstrate this critical information to your clients. You can easily do this in a few minutes, no matter where you are.

    We’ve had a wild market here for some time, but I’ve been feeling lately like it’s not quite as crazy as it was. So the question is, “Have we passed the peak?”

    It’s entirely valid that an experienced and skilled Real Agent will develop a sixth sense about the market. But when the public is saturated with news about how insane the market is, it’s hard to convince them of a contrarian viewpoint just because you “feel” a certain way.

    You want people to make good decisions? Give them good data. The monthly sales numbers are good. But what’s better than monthly data?

    Weekly data. 

    So, here are the weekly sales (since Feb 1) for detached homes in Calgary, which I just pulled from our system in less than five minutes:

    Date Range | # Sales

    Feb 1-7 | 404

    Feb 8-14 | 499

    Feb 15-21 | 480

    Feb 22-28 | 518

    Mar 1-7 | 547

    Mar 8-14 | 505

    Mar 15-21 | 523

    Mar 22-28 | 486

    Mar 29-Apr 4 | 453

    Apr 5-11 | 424

    Apr 12-18 | 394

    So, there you have it; we are indeed well past the peak of the market. The numbers prove it.

    This doesn’t mean the market is likely to change radically. On the contrary, there is still plenty of pent-up demand, so I believe the market will remain strong for some time.

    But it’s essential to understand when a market is shifting and contemplate possible explanations, such as:

    1. Some buyers have given up.

    Prices have risen dramatically to the point that some buyers can no longer afford to buy what they want. Others have lost out on so many multiple offers that they’ve given up out of sheer frustration.

    2. Remaining buyers are more conservative.

    Most of the “gun-slinger” buyers—those willing to write unconditional offers far over asking—have already bought. The remaining buyers are more patient and willing to wait for the right house at the right price.

    3. Inventory is still extremely low.

    This part hasn’t changed, but it does tie into #2 above. Since the remaining buyers are more conservative, they’re not jumping on whatever listing hits the market, as was the case earlier in the year.

    4. There are more over-priced listings on the market.

    This is because sellers are working off “old” inaccurate data. They think if a house sold for $750K in March, it must be worth $850K now!

    The main reason for this? Their agents are unskilled and do not provide their sellers with the correct information they need; for example, the information I’m discussing in this post!

    5. Concerns over rising interest rates, inflation, and the general state of the world.

    These are all valid concerns, and they tend to weed out the more conservative buyers. 

    All five causes above are interrelated. So, what’s the point of all this?

    Your clients need clear information to make intelligent decisions.

    It’s your job to provide that information.

    Weekly sales data can be another insightful factor to consider when determining the price of a listing. After all, over-pricing is the kiss of death in an active market (or any market). 

    It’s also an easy way to differentiate yourself from the real estate drones.

    __________

    From the Mirriam-AgentSkills dictionary:

    real estate drone drōn a real estate agent who provides the exact same information as every other real estate agent.

  • ‘Running the Odds’ on Real Estate Pricing

    ‘Running the Odds’ on Real Estate Pricing

    ‘Running the Odds’ is a simple technique to help sellers and buyers take some of the mystery out of pricing.

    Here’s an example where my listing clients and I are trying to determine the best list price (somewhere between $799,000-$825,000).

    Option 1: Sale Price Odds with $825000 List Price

    <$800,000 = negligible ~ 0%-1%

    $800,000-$820,000 = 25%

    $820,000-$835,000 = 25%

    $835,000-$850,000 = 25%

    >$850,000 = 25%

    Option 2: Sale Price Odds with $799,000 List Price:

    <$800,000 = 10%

    $800000-$820,000 = 10%

    $820,000-$835,000 = 15%

    $835,000-$850,000 = 30%

    >$850,000 = 35%

    The odds are based on my experience and my property evaluation, accounting for the current market conditions, which are bonkers in my local market (slightly less bonkers than a month ago but still bonkers). So yes, I’m fully expecting multiple offers in both scenarios. But I also know that the higher the list price, the fewer offers are likely to be generated.

    (By the way, if you’re an Analyzer, don’t get hung up on the numbers in my example. You would need far more information to determine if I’m right or not, so just concentrate on learning the basic technique.)

    Here’s the message I want my clients to get: 

    If they choose the lower list price ($799,000), the odds are about 10% that they’ll get less than $800,000 (if they only get one offer). But, conversely, the odds would be higher that they’ll get a sale price of $835,000 or more (65% vs 50%) because a more aggressive list price in our current market increases the odds of more offers. Right?

    Of course, you can break this down further or show alternate scenarios, depending on what the client wants to understand.

    Now, it’s up to the client to choose! 

    For example, if they don’t want to risk even a 10% chance of ending up with a sale price under $800,000, they may choose the “safer” list price of $825,000. 

    On the other hand, if they have a higher tolerance for risk and choose the more aggressive list price ($799,000), I believe they’ll get more offers, and therefore they have a higher chance of hitting a home run. 

    By ‘Running the Odds’ with your clients, you’ll provide options and allow them to make their own decision based on their risk tolerance.

    So how do my clients feel about receiving this type of information?

    They love it! They feel relieved and enlightened, like I’ve completely removed the mystery around pricing. What felt like a crap-shoot before now seems like a simple solvable problem.

    Of course, this isn’t the only information I provide to my clients to help them make informed and intelligent decisions. For example, ‘The Big Picture CMA’ and ‘Pricing Psychology’ are two of the modules in the Agent Skills Master’s Program that help me arrive at the correct price range in the first place.

    (By the way, I’ve just recently updated the module descriptions on our website if you’d like to learn more about these modules. Just click on the link above and scroll down to “module descriptions.”)

    You can ‘Run the Odds’ on the buyer’s side also, using a similar methodology when you’re deciding on a price in a multiple-offer scenario.

    What are the odds of winning with varying prices in a multiple-offer scenario? 

    ‘Run the Odds’ to paint a clear picture and allow your clients to decide how badly they want the property.

    This can be a great way to demonstrate to your buyer clients that they have more control than they think they do. Simply use your skill and experience to determine the different odds.

    I’m curious if any other agents are using this method or something similar. Please let me know! 

    I’m always interested in fine-tuning my systems and procedures, as you should be too!

  • Reality TV and How to Get an Awesome Car

    Reality TV and How to Get an Awesome Car

    You’re watching Celebrity Agents of L.A. on HGTV.

    Somewhere up the coast, Lance cruises into view in a canary yellow Lambo-Guzzi F518 Spyder. He’s perfectly coiffed, dressed to the nines with all the trimmings—Patek Phillippe watch, Bulgari shades, diamond cufflinks—virtually dripping with swag and confidence.

    He’s on a call, “That’s their best and final, Bobby! If it’s a no-go, they want to move quickly on their Plan B, so let me know right away, aiiight?” 

    There’s no Plan B. Lance just smiles as he taps his AirPod to end the call. He knows the sellers will cave. 

    Even if they don’t, he knows Bobby won’t give up just because he said “last and final.”. There’s a $120,000 commish on the line for each of them, and they’re going to get it done. 

    He bounces out of the car and takes in the view. Lance is accustomed to seeing homes of this caliber, but still, an involuntary “Wow-zaa!” escapes his lips as he slowly removes his $1,500 shades to get a better look.

    The home is architecturally brilliant, concrete and glass, clutching the edge of a cliff overlooking the ocean. The drone camera frames it perfectly, capturing the setting sun in the background dripping onto crashing waves. There’s a synth riff of ‘The Final Countdown’ playing in the background, which somehow seems appropriate.

    Lance’s Lambo-Guzzi is angled perfectly in the driveway, like a special-edition Hot Wheels, carefully placed there by some gigantic kid with coke-bottle glasses and a face full of zits.

    The camera zooms in on the massive front door as it swings open with authority, and Suzy struts out on 4-inch heels, beaming a dazzling white smile. She’s 40-ish, fit, sharp as a whip, and freshly divorced. She’s got plans and wants the house sold as soon as possible. 

    After a minute of chitty-chatting and a quick tour—the interior is as stunning as expected—Lance and Suzy get down to business. There’s a minor dispute over the list price; Suzy thinks it’s a slam-dunk at $9M, but Lance insists the most they will get is $8.5M. They have a 5-minute discussion and agree to list it at $8.75M. They both seem happy. 

    Wow! That was easy!

    Later in the show, the house sells for $8.5M, just like Lance said it would. Cash deal. No contingencies.

    Yeah, right.

    It doesn’t take long to figure out that these shows are as real as a three-dollar bill. If you didn’t know before, it sure didn’t take long to figure out after starting your real estate career.

    Remember how excited you were when you first got your license? You aced the final exam and were all set to start raking in the big bucks. You tried not to be overly confident but still allowed yourself to ponder what color Lambo-Guzzi you might get within a couple of years.

    Then it hit you like a ton of bricks. You had a real estate license but no clue what to do next. 

    It turns out the textbook scenarios in Real Estate School (I call it Kindergarten) were about as close to reality as the Lambo-Guzzi I made up for this story. 

    Sorry if you Googled “Lambo-Guzzi.” And, by the way, Happy April Fools Day!

    Oh, the title? You want to know how to get an awesome car?

    April Fools again!

    Lance isn’t real. His car isn’t real. But that doesn’t mean you can’t build an amazing real-life real estate career. All you need are better skills. And this time, I’m not fooling!

    Please check my website for more information. 

    AgentSkills.com.

    If you want to achieve massive success in real estate, stop accepting ‘good enough.’

    Learn more about the Agent Skills Master’s Program here. “The best investment you can make is an investment in yourself… The more you learn, the more you’ll earn.” — Warren Buffett