Creating Urgency With Sellers
Updated: Sep 11, 2019
A lesson in Pricing Strategy buy Ron Wexley
I’ve probably made more mistakes than all of you out there put together. And I truly believe what holds us back and hurts us most is that we’re so worried about looking good that we don’t move forward when we screw things up. When I first got into this business 36 years ago, I started from scratch – no models, no systems – and I ran everything straight into the ground. The truth is that most of us tend to figure out how to do it wrong before we do it right.
When I eventually ran out of things to do wrong, all that was left was to do a few things right; and the thing I did right was realize that I had to surrender my anarchist, independent-contractor tendency to question everything and instead listen to the people who have it nailed – people like Gary Keller, Dianna Kokoszka and Tony DiCello. I started thinking that even though we all want to play the game, maybe it was time to let the people who were making way more money than me call the plays while I tried to see how well I could execute.
One of the things I learned from those experts is how powerful a top-agent mindset can be. In fact, I believe it’s impossible to be incredible with sellers without a top-agent mindset, and we all know that sellers drive everything. Even the buyer transactions you get are driven by sellers because people contact you from listings. It’s really difficult to build a giant buyer-based business without having a bunch of listings first.
Being great with sellers and being able to spur them on to urgency will help you build your business like nothing else.
Speak to their motivation.
First, agents who are great with sellers know how to use language and connect with people to move them toward urgency. That means you have to find their motivator. As Dianna tells us, people move for two reasons – to move toward pleasure or away from pain. Some people will already be motivated to move, and those sellers are easy. The ones who need a push toward urgency have to be nurtured by getting to the root of that pleasure or pain. You have to know how to speak with them to get to their motivation. For example, if someone wants to move closer to their grandchildren but also wants to wait for a certain price for their home, you could ask questions to help them realize that the time they are waiting is also time they are losing with their grandkids that they will never get back.
Carry a top-agent mindset.
Second, agents who are great with sellers have a top-agent mindset. And a top agent always believes that right now is the time to sell. What you believe is going to happen in your life and in your business is going to happen if you believe it. I always believe I’ll get top dollar. It might not be top dollar forever, but it will be top dollar for right at that moment. You’re not going to be able to convince sellers to sell if you don’t believe in yourself or the market. When you think your market is bad, look in the MLS and search for “just listed” or “just sold.” It’s never going to show zero. So who are the agents who are getting those listings or making those sales? It’s certainly not the agents who believe their market is bad, because people who believe nothing’s going to happen get nothing.
Always be present.
Third, agents who are great with sellers know how to be there. You have to be there when they switch from being unmotivated to motivated. With all the systems that Keller Williams has in place, you have no excuse for not following up with the people in your database. In the coming months, this will become even easier with Command. Shaped from the models of The Millionaire Real Estate Agent, Command will be your comprehensive operating system of the future, allowing you to manage and run your business with unprecedented ease. The amazing integrations within Command will prompt you to communicate with your clients at crucial times, allowing you to stay top of mind.
It is important to consistently prove your value to sellers. As you follow up with prospects, take your conversations deeper with three to five questions to get below the surface and take them to emotion. This will help them remember you and may spur them on to urgency sooner than later. Here are some great questions from KW MAPS Coaching that center on emotion:
Where are you moving to?
When do you need to be there?
What is important to you about that?
Ultimately, what will all of that do for you?
And, finally, remember that in order to have people to follow up with, you have to lead generate daily. There are several avenues to build a database – social media, door-knocking, open houses, referrals, past clients.
About Ron Wexler
Ron Wexler is the founder and owner of The Wexler Group at Keller Williams, headquartered in Chicago, Illinois. With Ron’s thoughtful leadership, the team has closed over 240 units totalling over $50 million in volume year-to-date.
An industry veteran with nearly four decades of experience, Ron understands how to succeed in any market and is passionate about sharing his expertise with others.
He has served as a KW MAPS Coach for ten years and currently leads the MAPS Language of Sales program. Ron is also an investor and Operating Principal at Keller Williams Palatine and Preferred Realty.