Lessons From A Master Driller

By
Education & Training with Mygreenparachute.com

One of the many benefits of traveling around as a speaker and trainer, is you meet the greatest people.  Attendees at events that I have had the privilege of speaking at have always been the nices most enthusiastic people on the planet - at least while they were at the event.  But, sometimes I wonder what happens when they leave.

 I had the honor of listening to an interview with the CEO of Black and Decker Tools.  The question asked was, "How were you able to become the top selling power drill manufacturers in the world?"  He hardly hesitated with his answer, "We figured what the world wanted, and it wasn't a drill."  The interviewer looked puzzled as the CEO continued, "The world wanted a hole and we helped them make it."

Understanding what people need is critical in becoming successful in any field.  Real Estate has enough challenges with education, rules, and the dynamic of the market.  But, if we could figure out what people wanted...

Well, let's talk Business.  Where does it all begin?  For many agents and brokers, it's the listing.  To paraphrase, "Nothing happens until somebody lists something."  But, what about the seller.  Is that what they want?  I can't speak for every part of the country but where I've had the pleasure of traveling, no one I've met ever said that they hoped someone would come along and list their house.

Agents who have successfully kept the pipeline full with listings, buyers and referrals have accomplished "end result thinking."  In other words, they figured out, the client doesn't want their house listed.  They want it sold.  While that sounds elementary, more often than not, it's missed.  Going for a listing rather than creating sales strategies for the seller, have resulted in more overpriced (we'll adjust later) homes languishing on the market than all of the interest rate sensitive, mortgage company jitter, economic uncertainty, combined.

In my training programs we create dialog that cna let you know the client's intentions before ever presenting a plan of action with prices.  For example, if someone is two going on three payments behind and at their wits end, pricing high and coming down in a few months is not the answer to locking up this listing.  By the same token, someone who is willing to wait the market out because they don't really need to sell, can have a different pricing strategy. 

For some strange reason, once someone lets some agents know they are interested in selling, the inquiring stops and the market analysis begins.  What's the rush.  Wouldn't it be better to take your time and get the reasons and time frame for the sale to price it accordingly and get a quick sale than to get a quick listing that results in your sign fading from age while it sits on the market?

For my free list of the top 10 listing questions never asked, email me at (mailto:jfuhrman@igotmycar.com) and we'll send them right away.

Hope this helps.

John Fuhrman mailto:jfuhrman@igotmycar.com This material may be reproduced providing it is done in its entirety including this contact information.

Comments (2)

Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552
John, one of my favorite sayings has long been, "People don't come to buy a 3/4" drill.  They buy a 3/4" hole!"  I don't know if the quote originally came from the CEO of Black & Decker -
Aug 21, 2007 10:29 AM
Anonymous
Brian

Brian,

 

I believe it was him.  It's been paraphrased over the years but the point he was making is as solid as granite. 

 Thanks for your comment.

Continued Success,

 

John Fuhrman

Aug 21, 2007 11:05 AM
#2