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Episode 31 - The Language of Listings. Change your words, change your results!
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### Episode 31: The Language of Listings
#### Welcome & Introduction
- Host: Bob Mangold, The Listing Coach
- Podcast: If You List, You Last
- Reminder: Join the Real Estate Asset Advisor Facebook group for discussions, live Q&A, and more.
#### Main Topic: The Language of Listings
- Importance: The words you use significantly impact your results.
- Key Saying: "Your income is directly proportional to the words that you use."
#### Mortgage Market Update
- Jobs Report: 272,000 jobs created in May (vs. estimate of 185,000).
- Birth-Death Rate Model: 231,000 jobs from a model many find unreliable.
- Discrepancies: ADP reported 10,000 job losses, contrasting the BLS report.
- Sector Analysis: Leisure and hospitality gains heavily influenced by the birth-death model.
- Impact on Rates: Strong job reports decrease the likelihood of lower interest rates.
#### Understanding Government Data
- Skepticism: Many job creation numbers are seen as unreliable.
- Example: ADP vs. BLS discrepancies in job data.
- Inflation: CPI reports often exclude food and fuel, skewing the real inflation impact.
#### Effective Communication in Real Estate
- Inspired by Warren Buffett: Spend time thinking and reading to improve your business.
- Importance: Real estate agents are essentially CEOs of their own businesses.
- Critical Task: Spend time perfecting what you say and how you say it to potential clients.
#### Practical Examples
- Scenario: Speaking to a room of 1,000 potential clients with only 15 seconds to make an impact.
- Real-Life Open House Success: Agents successfully engaging large numbers of buyers at open houses.
- Conversion: Effective words and quick, impactful communication can lead to substantial business growth.
#### Actionable Advice
- Listings Focus: Concentrate efforts on obtaining listings.
- Proof: Provide evidence to back up your promises to clients.
- Training: Learn and implement effective communication strategies.
#### Practical Tips for Communicating with Private Sellers (FSBOs)
- Initial Contact: Use texts to engage private sellers, as they are less likely to answer calls.
- Example Texts:
- "Looks like your home is sold already."
- "Are you currently negotiating with potential buyers?"
- "I can get multiple buyers competing for your home within 14 days. Are you open to offering the standard 3% finder's fee?"
#### Conclusion
- Importance of Language: The words you use can dramatically influence your business success.
- End Goal: Think about what you say and the process you follow to convert leads into business.
- Invitation: Visit www.realestateassetadvisors.org for more information and to schedule a coaching session.
#### Closing
- Reminder: "If you list, you last."
- Thanks for listening, sharing, and downloading. Tune in next week!
Join our Facebook Group at: https://www.facebook.com/groups/realestateassetadvisors
Visit our website to watch replays of our Wednesday "Elevate Business Briefings" at: www.RealEstateAssetAdvisors.org
Download a copy of my book, "If you list, you last!" at www.IfYouListYouLast.com
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