In luxury listings there’s a high probability that a lot of inventory creates a buyer’s market. How do you create urgency and demand in this situation? How do you build rapport and differentiate in the listing appointment? How do you build affinity with your clients? On this episode, Steve Wydler shares his tips on making the most of a buyer’s market and bringing value to your clients.
People don’t care how much you know till they know you care. -Michael LaFido
Takeaways + Tactics
At certain price points there’s a lot of inventory and not a lot of demand. In Steve’s market that is $1,1 million and up.
To build rapport: do as much due diligence as you can, figure out the connections you have and be a storyteller.
You should call the client even when nothing is happening with the property, it shows that you care.
At the start of the show, we talked about the points at which the market becomes a buyer’s market. We also talked about how to create urgency in a buyer’s market and how to do due diligence to show your expertise. Steve also talked about what to do when you have a stale listing and how to keep your finger on the pulse of the market. Towards the end of the show, we discussed buzzwords you can use to keep people on a listing a little longer.
Steve also shared on
- How to build rapport and differentiate in a listing appointment
- Proof of funds and if they are necessary
- How to follow the market
If you want to build rapport with people, it’s important to give them confidence that you’re the right person to be talking to, and that you can position their home effectively. Show that you keep your finger on the pulse of the market, and if a property isn’t selling, do all you can you can to proactively to reposition it. Understand the market, follow it and show the client that you are actively working on getting the property sold.
Principal broker and co-founder of Wydler Brothers Real Estate (formerly of Long & Foster) based in the DC area. Team specializes in high end homes and condominiums throughout the greater DC metro area. Former transactional attorney and has a B.A. from Dartmouth and was Law Review at Vanderbilt Law. Get in touch with Steve via email firstname.lastname@example.org or phone 703.346.6326.