The Ninja Selling Podcast is all about breaking down current trends we see in the real estate world, and today, Matt and Garrett explore the idea of people selling their homes, but not necessarily turning around and buying. More and more sellers are cashing out and perhaps living in unconventional ways or renting until they’re ready to jump back into the marketplace, which adds inventory without adding to demand. Our hosts explain how this trend might affect the marketplace, and also open up a world of new possibilities as your clients consider their next move after selling their homes. Rather than staying fixated on the traditional path of selling your home/buying a home, today’s episode is all about adapting to this possible change, and using it as an opportunity to show your expertise as a trusted advisor, and build relationships by asking the right questions to help your clients discover the best possible option for them, even if that means moving to a van down by the river!

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Episode Highlights:

• Matt and Garrett are noticing a trend of people selling their homes, cashing out, and renting instead of moving into another home while they wait and see what will happen in the marketplace
• This is going to drop demand for homes and also create more inventory
• When you have someone who wants to sell but not buy, this adds to inventory without adding to demand
• Some people are deciding to live in unconventional ways instead of rushing to move into a new home (e.g., living in an RV or at a campsite)
• This allows them to slow the transition down, which a lot of people appreciate
• This trend could really affect the marketplace as we add more inventory
• It also changes the conversation and opens up more options than just selling your home and buying another
• It’s important to ask the right questions so you can guide your clients instead of staying fixated on the way things are “supposed” to be
• Again, as a realtor, you need to be adaptable and be aware of all possible options for your clients
• “Warm/Hot” List
• If your clients are willing to take that calculated risk, it’s your job to guide, support, and educate them through it
• We don’t always have to have a solution - it’s about asking the right questions to help your client understand their own dreams and goals for homeownership or otherwise
• This can be frustrating as an agent, particularly when you know it may not lead to a sale
• However, it is still an opportunity to showcase your expertise, foster relationships, and build a reputation as a trusted advisor, which is huge
• If you’re truly connected with people, they will come back to you when it’s time to make a change, and they will refer you to others as well
• Example of Garrett’s outstanding experience at a local restaurant where he felt completely taken care of
• It’s all about creating the best possible experience so that people will always want to come back to you
• After this period of uncertainty, people are turning to trusted friends and family more than ever, which has created an incredible referral relationship market
• This is where you come in - if you can establish yourself as a trusted advisor who can guide people, educate them on all their options, and look out for their best interests, this will open up a world of opportunities

Quotes:

“I'm amazed how much Larry Kendall shows up in our [Facebook] group and is interacting with it.”

“I'm starting to see a trend of people saying, Well, I’ll cash out, put the cash in my pocket and rent something for a little while here, just to watch and see what this marketplace is going to do. And this is going to do two things - One, is it's going to drop the demand a little bit. But it's also going to increase the inventory.”

“I think in our mind, we get in that mindset of, The answer is to sell and buy. This is what I'm going to help these people do. And I think the beauty of the conversation we're having right now...it’s like, let's give them another option.”

“As a realtor and a guide...as these changes happen, it's so important to ask questions versus saying, Well, this is how it's supposed to be. Because otherwise you're going to get lost in the weeds.”

“We're a guide in this process. And you can only guide if you know where the people want to go, and what that scenario looks like for them, and what they're trying to accomplish.”

“All these crazy ideas that are opening up for people right now. And they might sit back and say, Look, maybe I don't want my primary residence to be in the real estate market.”

“In times of market shifts and changes, no matter how slight they are, the opportunity to showcase your expertise, and build a reputation as a trusted source is huge.”

“If you're truly, truly, truly connected with them, and you're that source of information, you're the one they can come to with any questions at all...that's part of the experience that makes them want to refer.”

“This [podcast] is to say, Hey, there is a potential trend that's identified here. And here's your opportunity to ask questions and really showcase how great of an advisor you can be. Because it's going to be a good move for your business long-term.”

“I have never seen a better referral relationship market than what we're in right now. This time that we've gone through, of uncertainty and change and things being turned on their side, has made people come to the trusted people in their worlds.”

“If you can be this person in people's lives - this advisor that helps them get to where they want to go, show all the options, and is watching out for their best interest, there's so much potential business way beyond the person that's just in front of you. And if you can figure that out, and help guide them, this is where miracles can happen in your world right now.”

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Matt

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