No Broke Months For Salespeople - Managing Your Client's Expectation

Episode Date: April 25, 2023

Managing Your Client's Expectation.Real Estate Coach Dan Rochon of No Broke Months for Real Estate Agents talks about managing your client’s expectations. He explains that we need to understand the importance of setting realistic expectations and delivering promises.Learn how to Manage your Client’s Expectations in this new episode of No Broke Months for Real Estate Agents.--To find out more about Dan Rochon and the CPI Community, you can check this link:www.NoBrokeMonths.com --Stop 🛑 wasting your time ⏳ or spending too much money 💸not getting the results you want in sales, I would love you to join me for the upcoming 5-Day Listing ChallengeYou will learn how to find YOUR Way to having closings every month.www.5daylistingchallenge.com--Get your free copy of the Real Estate Evolution here:bit.ly/RealEstateEvolution_GetYourBookThis book shows you the step by step on how to:Step 1: Believe in your unknown potentialStep 2: Deconstruct persuasion techniquesStep 3: Find a business and get hired consistentlyStep 4: Be proactive in the relationship with your clients.Step 5: Learn and implement the exact steps to hire, train, lead, and train virtual assistants so that they can build, support, and guide a winning team to scale.And if you’d like to have a consistent and predictable income, like this page, and don’t forget to join the Facebook group to network with the top agents:https://www.facebook.com/groups/thecpicommunity/ To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan Rochon

I've got two active buyers. We've put in multiple bids on different houses. 20, 30 grand over the price. We still don't get the houses. Okay. Any suggestions on how to combat that? Welcome to the No Broke Months for Real Estate Agents podcast. Working as a real estate agent can be incredibly rewarding and fulfilling, but it can also be frustrating if you aren't making the money you deserve. So if you're ready to end the stressful cycle of working hard for no results, then get started with a proven step-by-step system

so that every month is No Broke Months. Hello, No Broke Months podcast listener. This is Dan Roshan. Of course, I'm the host of the show, No Broke Months podcast, and I'm also the head coach visionary for the Consistent Predictable Income Community, coaching for real estate agents. If you want to learn more about how the CPI community can help you in your business, I invite for you to visit www.nobrokemonths.com and learn how we can help you achieve your success. Leo, what you got? Well, I'm in a market where the inventory is very limited and every bidder is probably two to three bidders

or four bidders on every house. So you have to overprice your offer to get the bid. So I'm trying to figure out. I've got two active buyers. We put in multiple bids on different houses, 20, 30 grand over the price. We still don't get the houses. Okay. Any suggestions on how to combat that? Couple. First, it's about managing your client's expectations. I didn't hear anything there to suggest that you had not. How are your clients dealing with it?

They're still hanging in. i had one customer last year we put in six different beds and they were talking half a million plus houses and yeah they they took a break for a few months and they came back in january and we missed one we missed one they have another one but she's at a fixed price she can't go about 400 000 and we're finding houses and only in the high threes yeah it's a very tight market so okay are you able are your buyers coming in at something that is competitive i'd say 15 grand over the price to start is pretty competitive starting point yeah so how far off are you like you have any idea what's actually getting accepted the last deal i lost the the house's price at 329 my client bid 355 and it sold at 375 okay do you have the other one do

you have any other data like that no the other two we bought we did a 525 and it went sold over at 360 but uh 325 360 okay so you're still so you're a little bit off so you're you're i get what you say it should be competitive but it's not um okay a couple things um is there a way that you could find um so so sometimes you're first of all understanding you're in a um cyclical scenario this is not going to be there forever okay like this is a snapshot in time and it will go away however that doesn't help you know it's like what do i do now like okay i get this is just a short you know short-term phenomenon it could be to uh look at fringe areas and i don't know how how skilled you are with analyzing the data,

but one thing that you could do is you could look for zip codes and look at year over year. Do you have access to get smart charts by any chance? No, I've got some analytical data through my multiple listing service. I can see some stuff that way. All right, so if you can find what you're going to be looking for, you're going to be looking for, there's going to be pockets most likely where you're looking for like the pockets where the supply is not diminished. And so to be able to figure that out, you would look at year over

year and you'd look at pockets of 50 ohms last year, 40 ohms this year, as opposed to 50 homes last year, 20 homes this year. Okay, so then you're looking for, you're going to see if you can find those pockets that would be more advantageous that's less competitive. That's a whole bunch of work, I know it. But then you go back to the conversation with the buyer. And so here's the conversation you have with the buyer. Mr. Buyer, if the home exists, we're going to hit that bullseye.

If it doesn't exist, we're going to have to change one of three things. I see you're going to be able to price, the location, or the type of home. So what that means is that we're going to either have to come up much more competitive in the pricing, or we're going to have to consider a two bedroom instead of a three bedroom, or we're going to have to consider a two-bedroom instead of a three-bedroom, or we're going to have to be in this location rather than this location. And oh, by the way, I have found at this location that there's 20% less inventory than a year ago. This location that we're looking at, there's 50% less inventory. What that means to you is that we're going to have to be hyper competitive if we stay here. And if we go over here, there's going to be a little bit more room for negotiation. Does that make sense,

Mr. Beyer? Yes. Yes. So you're going to have to sort of move them around to make it work, and it's going to be some extra work. Does that make sense, Leo, the way I described that to you? Yeah, it does. Thank you. Yep. You're welcome. Thanks so much for listening to the No Broke Months podcast today. Until the next show, I invite for you to be grateful, make good choices, help someone, have the best day of your life, and go find a listing.