Thriving in the New ABnormal
Transcript of Thriving in the New ABnormal
Thriving in the New ABnormal
Copyright © Larry Kendall, Ninja LLC
Larry Kendall
Copyright © Larry Kendall, Ninja LLC
It’s Another Day In Paradise!
Copyright © Larry Kendall, Ninja LLC
Thriving in the New ABnormal
• 3 Success Keys in Any Market• 3 New Skills in the ABnormal• Finding Inventory• Negotiate Like a Ninja
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Three Success Keys in Any Market
Your “Mindset”Your “Skillset”Your “Actions”
Mindset
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Control Your FOCUS & ENERGY
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Focus on what you CAN control.
Dr. Stephen R. Covey
Concern
Influence
Control
Drifters(FEAR)(Victims)
Players(Ninjas)
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Control Your Focus & Emotional EnergyHIGH
LOW
HighNegative
LowNegative
HighPositive
LowPositive
- +Fear Love
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Strategies to Move to Positive Energy
• Gratitudes• Exercise• Walk in nature• Positive people • Positive reading
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The Power of Our Thoughts & Words
• Dr. Christine Porath• Professor of Management• Georgetown University
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“The Sport’s Worlds Best Brain Trainer”
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“Be a fountain, not a drain!”
Skillset
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Three New Skills
1. Virtual Viewing – “A Game”2. 3-Step Listing Launch3. Negotiate Home Plate
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Virtual Viewing in 2020
63% of buyers made offers without ever physically viewing the home.(NAR Profile of Buyers & Sellers)
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The Power of Virtual Viewing• 9 = Average # of homes viewed (before contract)
• 5 were virtual showings (only on-line)
• 4 were physical showings (on-line & physical)
• “Shine On-line” to make the finals (Staging, professional photography, video, floor plans)
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Benefits of Bringing Your “A Game”1. Better exposure – 403% more “clicks” & time2. Better results
o 32% sell fastero 44% sell for a higher priceo Fewer cancellations
3. Your next listing is embedded in this listing.Source: Real Trends 1-21-2021
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Video Results: (Analysis of The Group’s listings)
1. Listing viewing time with video = 90 seconds2. Listing viewing time without video = 7 seconds3. All video viewing times averaged 90 seconds
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The Facts: (Study of 25,000 Zillow & Realtor.com listings. March – June 2021)
1. 94% had no video or virtual tour.2. Only 16% had a floor plan.3. Only 10% had a floor plan for single family.4. Less than 30% used photography best practices.5. Apartment listings were twice as likely to have
professional photography and floor plans.
July 8, 2021
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On-line Decisions• 90% check you &
your marketing out on line first.
• 77% make the decision and only talk to one REALTOR®(NAR Profile of Buyers & Sellers)
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Your Greatest Expense“In real estate today, your greatest expense is the money you don’t make.”
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You Control the Process: “Go Slow to Go Fast”
Use the 3-Step Listing Launch
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Seller Dialogue:“Our mission is to put you in the strongest negotiating position possible.”• Help you shine on-line & live• Staging, photography, video, floor plan (“A Game”)• Pre-inspection (No Surprises)• Listing launch (Maximum Exposure & Best Contract)
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Three Step Listing Launch1. Package
o House – “Move-in Ready?”o Marketing – “A Game”
2. Priceo Wholesale/Retail?
3. Promoteo Launch! Parade Ready!
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Your “A Game” - Ready for the Parade!
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Low Inventory - Multiple Offer Market
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The “Mosh Pit” Market
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Negotiate Home Plate
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Contract Cancellations: 20% - 30%
1. 1st Base – Price & Dates2. 2nd Base - Inspection3. 3rd Base – Loan/Appraisal4. Negotiate for Home Plate!
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1. Price2. Terms3. Dates (closing & possession)4. Inclusions/Exclusions5. Contingencies
5 Negotiating Points of a Contract
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417 Park Street (State of the Industry)
• 15 offers• 5 loan offers
Preapproval Letters? Two
• 10 cash offers Verification of funds? One
Actions
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Finding Inventory: The “No Inventory” Myth
• Compare new listings & sales this year to last year• A shortage of Standing Inventory
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Buyers: Solve for Price
Price
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Buyers: Solve for Location
Location
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Your Mission: Find them choices!
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Your Value Proposition
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Your Biggest Value Wedge? YOU!
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Your Goal: Become Invaluable
Source: Christy Budnick, CEO HSF Affiliates, LLC
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Are You On-Demand or In-Demand?
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What common belief do these share?• Most Sellers?• For Sale By Owners?• Discount Brokers?• Most REALTORS®• The Justice Department? • The Federal Trade Commission?• The Media?
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The Big Myth in Real Estate
“There is a fixed price for a home.”
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Value Clarification Question
“Do you believe your home will sell for a fixed price or do you believe it will sell in a range of value
based on the marketing and negotiating skills of your REALTOR®?”
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1. ENHANCE your property – Top $
2. Pricing Strategy – most net $
3. Give you “Maximum Exposure
4. Help you negotiate best contract
5. Manage your transaction
Articulate Your Value (5 points of value)
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1. ENHANCE your property – Top $ (2 weeks: home detailer, pre-inspection, new roof)
2. Pricing Strategy – most net $ (Last sale = $750K; $775K seller; $800K “on the bridge”
3. Give you “Maximum Exposure (Staging, floor plan, video, drone, pro photos, 60 showings)
4. Help you negotiate best contract (25 offers, Top = $975,000 cash, no contingencies) (Called top 3 offers. Final = $1,012,000!)
5. Manage your transaction (CLOSED!)
Articulate Your Value (5 points of value)
Jack NeedyFort Collins, CO
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Three Questions?
1. Did Jack earn his fee? 2. Was Jack INVALUABLE to his seller?3. Is there a fixed price for a home?
Jack NeedyFort Collins, CO
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“As a seller in this market, your greatest expense is the money you don’t make.”
Making $ versus Saving $
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Living a 5G Life
Living On-Purpose in 5G
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Living On-Purpose in 5G
Gratitude
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Gratitude“Nothing new can come into your life until you first give thanks for that which you already have.”
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Living On-Purpose in 5G
Goals
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Your “WHY” is the . . .
rocket fuel of your life!
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“The two most important days in your life are the day you are born and the day you discover
the reason why.”- Mark Twain
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Living On-Purpose in 5G
Grit
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Grit“the ability to carry through on a commitment long after the motivation in which it was made has left you”
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“He who has a why to live can bear almost any how.”- Friedrich Nietzsche
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Living On-Purpose in 5G
Grace
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Grace“a polite & thoughtful way of behaving”
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The Ritz Carlton Motto:
Ladies & Gentlemenserving
Ladies & Gentlemen
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Four Core Values: Family/Friends, Occupation, Recreation, Dreams
Relationships are built with GRACE.
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Living On-Purpose in 5G
Giving
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Giving“Give more in value than you receive in payment.”
“The more you give the more you have.”
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We are here to create, not to compete.
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We are here to serve, not to sell.
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Why do we exist? (other than making money)
“We exist to help our people and our clients go from the life they have to the life they dream about.”
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Two Associates: Listing Goals
• Typical Associate Goal: “Get the listing!”
• Ninja Associate Goal: “How can I help these people get to the next
chapter of their lives on time?”
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May You Live On-Purpose in 5G
Gratitude, Goals, Grit, Grace, Giving
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May Every Day Be Another Day In Paradise!
Thriving in the New ABnormal