No matter what you do—lower the price, stage the house, aggressively market—some listings just don’t want to sell. So, what do you do when that happens? You stay focused, stay determined, and keep grinding. That’s one of the many lessons we’ll learn in this episode of the Million Dollar Playbook, with the “seller of the unsellable” Brad Feldman. When Brad encountered a home he and other agents COULD NOT MOVE, he stepped back from the listing to rethink his approach to generating interest in the property. Then, fueled by a new, innovative marketing campaign rooted in email and social media, Brad finally generated the kind of interest he needed to get the sale.
3 Key Points
- Negotiation is a generational and cultural thing—don’t expect buyers to be comfortable with it, especially millennial buyers.
- Do not always blame the market or environment for a failed launch. Look at yourself first.
- Look for data and analyze all available information about a property you are selling—without the right information, the right plan is impossible.
Show Notes
- 01:31 – Sharran loves Brad’s desire to innovate his approach toward every single listing, deal, and opportunity
- 03:45 – Brad had a referral for a house that had been listed with another agent
- 04:02 – The pricing strategy for the house was flawed, resulting in 10 showings over four and a half months
- 04:56 – The first thing Brad did was to realign the pricing strategy
- 05:07 – Behavior patterns of consumers have changed
- 05:11 – Most people want to leave room for negotiation but the buying generation now do not negotiate
- 05:35 – This generation now has a mindset of not wanting to insult the seller so they just walk away if a price does not match their budget
- 06:29 – The agents who used to have the listing were doing their job, but only on the surface
- 07:25 – They were doing what the average agent does
- 08:01 – The psychology of the current consumer is different from those in the past
- 08:27 – Brad gave the reason why they need to realign the pricing strategy
- 08:50 – Realigning the pricing strategy based on the buyer profile is where Brad succeeded
- 09:16 – Brad says you have to look at the buyer profile for every property you are selling
- 09:35 – Negotiation is a generational and cultural thing
- 11:15 – Brad discusses how to launch a listing
- 11:23 – Always launch on a Monday, and create certain events to allow people to access the property
- 11:42 – Brad also does pre-marketing a week before the launch
- 11:59 – By Monday, he has 30 to 50 people ready to generate multiple offers – this is the goal
- 13:27 – Explain your process to your client, and why it will build demand and create value
- 17:14 – When agents orchestrate launch failures, it’s not the market, it’s you
- 18:15 – If you launch something and it doesn’t work, don’t blame the environment, think about what YOU can do to change the result
- 19:22 – After a launch, look at the online statistics
- 20:04 – Look at the search views and the detailed property views
- 20:44 – Can your property be seen if the buyer isn’t searching in that particular area?
- 21:11 – Educate the consumer and the agents about the community
- 21:58 – Compile a list of agents and started email blasting every other day with different tag lines
- 22:44 – Think about setting up a social media campaign
- 24:12 – Your buyer (more often than not) wasn’t even directly searching the area your property is located in
- 25:32 – Brad positioned himself as an expert in the listing
- 26:26 – The email and social media marketing he did gave buyers’ agents sound bites they could use with their clients
- 27:01 – To promote the property, give buyers’ agents the tools to look good
- 32:41 – “Take your wins and make them case studies”
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Show Notes provided by Mallard Creatives