If you’re a business owner, team owner, or top producing agent, an exit strategy is very important. How will you know who the right buyer is? When it comes to building trust in luxury, what is one thing you can do to create value? Is it the buyers or sellers that determine the velocity of the luxury market? On this episode, serial entrepreneur and sought-after keynote speaker Sharran Srivatsaa shares great insights on these topics.
The clients are looking to be led, and our ability to structure that advice with confidence is where clients gravitate to the agent. -Sharran Srivatsaa
Takeaways + Tactics
- The job market and the stock market have been good for the average person, making them feel like they can spend more. This has driven the growth, purchases, and velocity of the market.
- The luxury market is based around the ability of a buyer to actually buy. As a result, it’s not the sellers, but the buyers that set the tone for the luxury market.
- With luxury price points, properties won’t always sell quickly. This is where your communication skills come into play, because you have to give feedback and keep the seller confident.
- If you’re considering your exit strategy think of who the buyer would be and why they would care about your business.
At the start of the show, Sharran talked about how the 5am Club got started and what his podcast, Million Dollar Playbook is all about. Sharran also shared on the trends he’s seen in luxury and why it is so critical for agents to show their knowledge of the market and present that knowledge with confidence.
We also shared insights on:
- How to develop your exit strategy
- The connection between knowledge and confidence
- Different models of exit strategies
The most powerful thing you can do is establish credibility. Once you do that, everything you say and do afterwards becomes a lot easier. The client will trust you more and feel like their home is in good hands. At the end of the day, bragging about your track record to the client is irrelevant. It's establishing trust through your action that matters. When it comes to a good exit strategy, there are many ways to go about it. The key is knowing the value you bring to the table. From there it’s about finding the model that best suits both parties, of which there are a few to choose from. Just because our business is based on commissions and transactions, don’t forget that you’ve built years of goodwill, systems and knowledge-- and there’s a market for that.
Sharran Srivatsaa is the CEO of Kingston Lane, a push-button technology execution platform for real estate. Sharran is a serial entrepreneur, sought-after keynote speaker, and a respected thought-leadership resource for publications such as the Wall Street Journal, SUCCESS magazine, Huffington Post and Forbes.
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