2016 Motivation: “How’s That Working For You?”

2016 Motivation

“How’s That Working For You?”

An aggressive way for you to point out that your clients are employing an insanity strategy, (definition of insanity is to keep doing the same thing over and over again, and expect different results!), is to point out their repetitive use of the same strategy, then point out the lack of success using that strategy, and then to ask them: “How’s that working for you?”. For example, consider the following:

Sellers who refuse to lower their price:

“Eddie and Harriet, we’ve had 40 people through your home, most of them really liked it, yet no-one has come forward to make an offer.”
“And, during the same period 4 other similar homes in your area have sold for $600,000. I know you want to get $750,000 for your home and have asked me to just get you an offer, but we haven’t been able to get anyone to pull the trigger listed at $750,000, have we?”
“So, isn’t it likely that if we continue to keep your home listed at $750,000, we may miss the next four buyers and the best time in season to sell?”
“So, how’s that pricing strategy working for you???”

Once again, this approach must be handled very delicately or you risk alienating or possible even angering your sellers. Remember, in their minds, your sellers haven’t lost the other $150,000 until they accept your terms. So, it can make sense to try it their way first, but then be firm when their strategy doesn’t work.

Buyers who continue to make very low offers: You can use the same strategy by saying:

“Mac and Mary Jo, you’ve made four offers on homes that you liked and we’ve been outbid on every one of them.”
“So, how has making low offers worked for you so far?”
“You’ve heard of the definition of insanity, haven’t you?”
“I know your time is valuable, so at what point do you think we should change our strategy?”

For you and your strategies:

Your consultant has been beating you up and begging you to take advantage of the Great Real Estate Recovery by having 10 face-to-face meetings and making 10 phone calls a day. Joe has recommended you talk with local business professionals during the day and either call or stop by expired listings since 2009, yet you have resisted because you’re “afraid” of talking to people and have consequently made no money. Ask yourself:
“We’ll self, I’ve been doing it my way and I’ve had no success.”
“I’m not even making $5.00 an hour.”
“I would be better off working as a toll collector, hostess, or even fast-food order-taker.”
“I think my way has become the definition of insanity. So, maybe I should listen to Joe and employ his strategy.”
“How would that work for me? Awesome!!!”
“So, I guess I should get over my fear, step off the edge, unfold my wings, and fly!”

(This last example is merely fictitious. No actual participant is meant to be portrayed in this example. So, if it hit you between the eyes, I was really talking about another agent, not you!)