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Research shows that ‘No Price Methods’ of selling your property: Take longer to sell and achieve a lower price. Wait? What?… But don’t many real estate agents say the opposite? Yes, they do. According to most mainstream agent websites: “No Price Marketing increases buyer demand and leads to a higher sale price”. But does it?…
If you find it annoying when properties are listed without a price, you’re not alone. It’s one of the biggest frustrations when buying a home these days. “What’s the point in even viewing the property if we have no idea of how much they want? We could be dreaming – when it’s way out of…
It depends on one thing. With real estate activities reopening after Covid19 lockdowns, many of our clients are asking this question. The standard answer from most real estate salespeople is going to be: “YES – it’s a great time to sell”. Because of course, for agents, it’s always an excellent time for you to sell.…
The short answer is that nobody knows. We are in totally new territory, and it’s therefore impossible to predict exactly what will happen. Only time will tell. Some commentators are talking carnage for the real estate market with suggestions of at least a 10 – 20% drop in prices. While it would be naive to…
The Aggregation Of Marginal Gains – what a world beating cycling coach can teach home-sellers. I came across an interesting article about Tour de France cyclist coach, Dave Brailsford. From the article: “In 2010, Brailsford faced a tough job. No British cyclist had ever won the Tour de France, but as the new General Manager…
With the real estate industry, it’s often all three. Let me explain one by one. (a) If it’s FREE, we are the product. Think about the business model of radio stations. Or Facebook, as a more recent example. To attract us (as users) it’s free. We get to engage, post and play for nothing. The…
The Battle Cards Are Set – Who Will Win? David vs. Goliath. That, sometimes, is what comes to mind when people hear that a “real estate agent” has approached a Private Seller (For Sale By Owner or FSBO). The perception that it’s a battle against wills. From the start, it’s known that the agent is…
When deciding who to hire to help sell their property, many people believe that some real estate agents have access to more buyers than others. And since every seller wants a buyer at the best price, it makes sense to list with the agent who appears to have the most buyers. If they have more…
When selecting an agent to help you sell your property, it’s natural for you to want the best. But who is the best agent? The answer depends entirely on your definition of ‘Best’… Best for the agent or best for you? On the whole, the real estate industry’s definition of ‘Best’ is grounded in self-interest,…
Identify as more of a Consultant than a Salesperson? Does your sense of achievement come from adding value, rather than extracting it? Want to protect and serve your clients rather than ‘close’ them? Are you uncomfortable with many of the manipulative sales techniques taught in this industries thirst for commission? Instead of the big egos,…
It starts with the primary shift in our operating philosophy: Seeing ourselves not as Commission-Driven Salespeople, but as Professional Service Providers. Fundamentally changing our core purpose from persuading you to serving you. From focussing on closing our commission – to focussing upon protecting your interests and maximising your net sale proceeds. We help you achieved that…
If you want to end up with the most in your hand from the sale of your property, you need to do three things. The first of which is Avoid Costly Mistakes and Traps. I’ve said this before and I’ll say it again: Your best protection from these mistakes is to avoid them in the…
In this video (below), we demonstrate the importance of Avoiding Costly Mistakes when selling your property. The key takeaways: 1. Costly mistakes are anything that needlessly erodes your equity (how much you end up with). 2. They’re often what we call “Hidden Losses”. Meaning people don’t even realise they’ve leaked thousands of dollars. 3. Many…
WHEN TO CONSIDER SELLING AT AUCTION It’s no secret that I’ve been pretty scathing of real estate auctions lately. Actually it’s more that I object to some agents spreading untruths and propaganda about them – for their own gain. But I’m also on record plenty of times over the years as saying that Auctions have…
We believe that being the ‘best’ should mean doing what’s best for our clients. So we restated real estate from a ‘Commission-driven Sales Industry’ to a ‘Professional Service’: Fundamentally changing our core purpose from Selling you to Serving you. From Persuading you to Protecting you. From Pushing you to Guiding you. From Pitching to Advising.…
It’s said that the most misleading cons contain an element of truth. A classic example is this main one-liner spoken by auction agents – and it seems after more than 30 years of seeing it – sellers are still falling for it hook line and sinker: “When you put a price on your property the price…
It never ceases to amaze me how much bullshit my industry peddles to consumers. That I think, ultimately harms you as home-sellers. And today I want to clear something up. Inspired by a video I saw by a pro auction agent entitled “Auction Misconceptions”. I think it should be titled ‘Auction Deceptions”. You see, he…
A story about a seller who lost $123,000 at Auction. When selling your property you naturally want to get the highest sale price possible. So choosing the right method of sale for your situation and property is imperative. Of course, no one method of sale is perfect. They all have their pros and cons. The…
Restate was founded to help clients NET more. You can imagine our concern when we discovered that some people were saying that we “undersell” property. The first time I heard it, I laughed it off. After all, you expect that when something new threatens the status quo, rather than rising to the challenge and improving…
When selling my property, I want to end up with the most in my hand. To achieve that I need to do three things: Obviously, I need to sell for the Highest Price Possible. Over the years, I’ve discovered that achieving the highest price (in any market) is not a matter of luck. It can be…
“Real estate is by far the most screwed up industry in America” – Redfin CEO Glen Kelman. On reflection, I agree. Real estate is screwed up on many levels. But not only in America. While many, like Redfin, are going down the technology path to try and fix it, I had the feeling that solving our problems…
Restate’s core philosophy is to repackage real estate as a professional service, and they have achieved exactly that. Every aspect of their unique model is geared towards the seller’s best interest, and it’s far more than a superficial makeover. In a world where competition just means a slightly lower commission, Restate make a radical departure,…
“It’s not my fault” is the catch cry of victimhood. We’ve all been there at some point in our lives. At least I have… Wallowing in denial. Making excuses. Blaming other people, entities or events. Believing it’s out of my control to improve my situation. And even worse: Believing somebody else is responsible for improving…
I’ve never met a home-seller who’s not unique. Different people, in different circumstances, experiencing different emotions, with different reasons for wanting to sell. [Which is what makes real estate so interesting.] But I’ve noticed they all sit in one of two main camps: They’re either ‘Definitely Selling‘. Or ‘Only Selling If…‘ If you’re ‘Definitely Selling’: Then…
I sure did. Especially when we’ve done a professional job bringing our clients property to market… Given superb and realistic advice up front (Blue-skying them to get the listing has never been my style). Helped our clients prepare themselves and their property. Followed the clients instructions regarding their desired pricing. Provided quality multimedia marketing… However,…
The world has changed. Along with the value we bring to the table We are no longer the gatekeepers of information. Sellers no longer need us to find buyers. Buyers don’t need us to find sellers. Our position as matchmakers, middlemen, has become obsolete. Consumers expectations are changing. They’re rejecting sales tactics and rewarding…
Once upon a time, four friends listed their property for sale. The only options were going it alone or listing with a traditional commission-only salesperson. The going rate in town was $500 plus 3% of their sale price, plus GST. Ken took responsibility for his sale. He knew that ultimately he was in control of…
New approach results in both a record sale price AND $12,500 saving on commission. Meet the clients: It was with sadness that Sandy and Jan were letting go of their apartment. It had been perfect for their lifestyle since purchasing off the plans 15 years earlier. The location, the ease of living. And of course, that…
When it comes to figuring out the market value of a property, who is the most reliable: Online Valuations, Registered Valuers or Real Estate Agents? I think there is a lot of misinformation out there about all three – so here’s my take in it: 1. VALUERS Out of all three options, Registered Valuers should…
Before going to market, if you want to know how much your home is worth, you can ask a few real estate agents for a Free Market Appraisal, engage an Independent Registered Valuer, or get a Free Online Estimate. Or all three. The problem is: you’ll get wildly different answers from each of them. In…
Let’s face it, the world has changed. Along with the value, we bring to the table. In the palm of our hand, we have access to more information than we know what to do with. We can learn whatever we desire. Ask, and the big Google in the sky will provide. But we can’t know everything.…
It was a gorgeous evening. The phone was off, my favourite CD playing and the bbq was primed. I’d been looking forward to some quiet time. It helps me sort the wood from the trees. On the way home I’d even called into the butcher and treated myself to a piece of his best fillet steak.…
Commission-Shock: Feelings of shock, bewilderment & sometimes anger when you realise how much the traditional real estate industry takes from the sale of your home. If you’ve experienced Commission-Shock, you are not alone. It’s estimated to afflict over 90% of home sellers worldwide, and until now there’s been no known cure. Take Bob for example, he…
“What we believe to be true, isn’t always the truth.” As ‘Mark & Angel’ recently put it: The truth is, no matter how smart or educated you are, your subconscious mind will sometimes attach itself to beliefs that habitually push you farther and farther away from where you want to be in life. This is…
Banned By Fairfax: Reasonable ‘Censorship’? Or ‘Bully Tactics’ – suppressing the truth for their own gain? You decide. Sure, we fully expected some real estate agents to try and shut us up. After all, in order to help consumers, we’ve exposed truths they’d rather you didn’t understand. We’ve even been accused of being a ‘whistleblower’.…
Since launching their ground breaking real estate service, just two years ago, more than 150 South Canterbury home-sellers have benefitted from keeping over $730,000 extra equity in their pockets. That’s an average windfall of around $4,800 each – to use for what ever they wish. Recent clients, Bill and Gail, said they plan to put…
Benjamin Franklin was undoubtedly a man of great virtue. So seeing his sage advice twisted into a manipulative & misleading sales technique – must surely have him squirming. According to wikipedia: in 1772 Franklin laid out the earliest known description of the Pro & Con list, a common decision-making technique… “… my way is, to divide half…
Will you walk into my parlour? Said the real estate salesperson to the home seller. ‘Will you walk into my parlour? Said the Spider to the Fly’ … are the opening words of a poem by Mary Howitt, published back in 1829. The story tells of a cunning Spider who ensnares a naive Fly. It’s a…
As a home seller, when it comes to choosing an agent, is the BIGGEST necessarily the BEST agent for you? Of course, the answer depends entirely on your definition of “Best”. For instance. You may think that an office with the biggest team means more buyers and is somehow better than an office with a smaller team. Which…
“Not only did we get $53,000 more than we were happy to accept, Restate also saved us close to $7,000 in fees” – Robert & Beryl Stevenson How does something like this happen, you ask? I will get to that in a moment, along with some important takeaways, but let me first take you back, so…
You’d think that like many other industries, as technology gets better and the industry becomes more efficient, the end user would see the benefits and better value service. Not so with the real estate industry. Just 10 years ago (2006) the average house price in New Zealand was around $370,000. Based on a traditional commission…
This is understandably a question many sellers ponder when selecting an agent. Your thinking seems to be that some agents have more buyers than others. Unfortunaltely this misconception is a trap. Firstly understand this undeniable truth: The ‘sales job’ in the traditional real estate industry is not persuading buyers to buy. It’s convincing you to…
Have you noticed that most ‘Salespeople’ these days, especially real estate salespeople, are calling themselves ‘Consultants’? The specific term used is “Sales Consultant”. Tell me, what exactly is a “Sales Consultant”? I mean, come on, it’s an oxymoron if ever I’ve seen one. They are either a ‘salesperson’ or a ‘consultant’. They are either…
It’s a good thing right? You do want them to be ‘hungry’ for the sale, don’t you? Well at least that’s the thinking served up by the traditional real estate industry. That it’s somehow better for you if the agent is ‘hungry’ for their commission. They’ll supposedly work harder, chase more, find more buyers and be more…
You are the real hero in this story. Who could have imagined that a small agency from Timaru, could disrupt the entire real estate industry? As you may already know, we’re changing real estate. Why? Because frankly, we both deserve better. You, as clients. And us, the agents here to serve you. We’ve all seen…
“A sign of wisdom and maturity is when you come to terms with the realisation that your decisions cause your rewards and consequences. You are responsible for your life, and your ultimate success depends on the choices you make.” – Denis Waitley Accepting personal responsibility for our actions and decisions is one of life’s scariest yet…
“Face the facts, you are now viewed as a ‘Profession’ and therefore required to act like one”… were Michael’s opening words as over 50 real estate salespeople shuffled in their seats. He was presenting a 10-hour verified training course on agents’ obligations under the Real Estate Agents Act 2008. The topic and focus was: Professional…
What is your real estate agents job description? Assuming, that is, you want the help of a real estate agent to sell your property. As we discussed here – being clear about what we want, is the first step to achieving anything. Remember, first comes the goal, then a plan (a proven formula, a recipe)…
“Son, you can have everything in life you want, if you will just help enough other people get what they want”. Dad’s words of wisdom still ring in my ears to this day and are a founding philosophy of Restate. It wasn’t until years later I discovered they were in fact the words of…
There’s a lot of talk going on about ‘disrupting’ the real estate industry, with two distinct schools of thought: 1) The industry is ripe for disruption. I predominantly sit in this camp for three reasons, although I’d personally change the heading to read: The industry is ripe for evolution. The first being it’s negative reputation.…
How my friend’s story of ‘Taxi vs. Uber’ can lead homeowners to higher predictable profit and better experience, when selling their home. Let’s just dive into it. Last week, we looked at how disruptive platforms like Airbnb and Uber are winning the hearts & minds, and consumer attention, in their respective industries. If you…
Millions of consumers love Airbnb, Uber, and dozens of other similar platforms that have disrupted their respective industries. So what about real estate? – how do their secrets apply?… Well, first, you have to define what a Platform is. For this, we can look to the book Platform Revolution: How networked markets are transforming the…
More importantly how NOT to. If you’re ever going to sell, you want to be aware of this. “If only they knew… It’s not right… You have to tell people about this…. You have to warn them”. Liz was of course talking about warning you… everyday sellers who don’t have a clue what’s happening…
It’s an unfortunate truth, but the fact is: 90% of you think NOT. (Roy Morgan Image of Professions Survey 2016). The next question is: WHY not? Well that’s a simple one to figure out. It’s the ‘Commission-Only’ business model, the self-serving ‘Sales Culture’ that’s responsible for both the behaviour that robs your trust, and the unreasonably high…
This morning on my Twitter feed was a quote from a real estate sales trainer, along with a link to a book called… Fanatical Prospecting: The ultimate guide to opening sales conversations and filling the pipeline by leveraging social selling, telephone, email, text and cold calling. Now to be clear, I haven’t read the…
Do real estate agents really ‘sell’ houses? It’s an interesting question. Isn’t that what you pay real estate agents for … to ‘sell’ your house? By ‘sell‘ we mean… persuade, convince, talk a buyer into buying your property. You see unfortunately many sellers seem to believe that is what real estate salespeople do. But nothing could be…
Yesterday an old friend Daryl posted a link on his business Facebook page. He is a mortgage broker and obviously cares about protecting his clients. The article was warning people, opening their eyes about the hidden costs and dangers of interest-free finance deals offered on retail products – like a new washing machine, TV…
I don’t know if you’ve ever heard of Matt Mullenweg? If you listen to the Tim Ferris Show (the #1 ranked business podcast on itunes), you may remember him being interviewed on episode 61. If not, Matt Mullenweg founded one of the largest websites in the world. Even if you don’t know his name, there’s…
Over recent months I’ve been in my mental cave. Head down learning, planning and working. I don’t know if it’s a bloke thing or just my introverted nature. I get in this hyper focus, almost obsessive state. Anything outside of the cave ceases to exist. Although it’s thrilling, almost addictive, to feel like you are…
In the name of increasing sales and selling product, is it ethical or moral to have one client pay $3,000 more, for the same product or service, than another client? This discussion is likely to ruffle some feathers, as the sanctity of sales and discounts are what drive many customers’ buying decisions. After all, if…
I realise the image to the right may look a little Howard Hughes-ish, but there is a method to my madness. And this sketch, if you’re thinking of selling your home, may have a profound and direct impact on your bottom-line profit. You’ll also want to share this with friends and family members that you care…
May I take you on a bit of journey? … There is a website on the Internet that I believe is the best website in the world. Would you like to know which it is? I’ll reveal that website in a moment but first have, let me share with you several stories that recently impacted…
The tale of an Employer, a Pill Pushing Doctor and a Commission-Only Real Estate Agent The other day I heard about a very upset mother. Her son had been recruited to do some specialised contracting work in a far off country. It seemed like a great opportunity. However, given the recent unrest throughout the world,…
Imagine you receive a knock at your door from a local plumber looking for work. You happen you have a blocked drain so engage him to fix it. He spends approximately 1 hour on the job. A week later you receive an invoice for plumbing services totalling 5 hours work. In confusion you call the…
Firstly, understand this undeniable truth… “The ‘sales job’ in real estate, is not persuading buyers to buy – it’s convincing you to sell.” Because without your listing – they have ZERO chance of taking a BIG commission. “No Sale – No Fee” is one ploy the industry uses to encourage more of you…
One thing we know is true of animals, is that when they are put in difficult situations, find themselves with no food, starving, small pups to protect and provide for – even the best, most well trained animal, will bite the hand that feeds it. They will resort back to and be driven by…
You need to sell your home. Many people don’t trust real estate agents at all. But who do you hire, assuming you’re going to—the Full-time agent or Part-time agent? I saw this story on propertynoise.co.nz the other day. A real estate agent, because of his advertising, is getting blasted on social media. He seemingly has offended everyone…
It’s an unfortunate truth, but how the traditional ‘Sales Culture & Business Model’ works, is responsible for bankrupting the real estate industry of trust. Because of it, consumers (the very people the we serve) are paying dearly for a massively inefficient industry. And, the term “Real Estate Agent” (in the eyes of society) has…
I’m going to share an experience with you. Because it clearly illustrates how sellers suffer massive losses while dealing with traditional real estate salespeople. Although over years, I’ve seen this happen more times than I can remember. This particular case – is one of the worst I’ve personally witnessed. To protect the confidentially of those…
“You can’t sell a secret”… is a line used by typical real estate salespeople, to convince you to advertise your property more. We will discuss why they would use such a line shortly. But first, focus on the line itself. “You can’t sell a secret.” It implies that you have to advertise your…
If you’ve ever sold a property, you have more than likely pondered how traditional real estate fees work. From your point of view, it seems like the agent gets a large chunk of your hard earned equity … and for what exactly? You present your property well and price it realistically. Sure,…
How ‘Free Market Appraisals’ Can Cost You Dearly. Maybe you are thinking about stepping up to a bigger home for your family, stepping down to something smaller, need to reduce debt, are going through the emotional rollercoaster of a separation, or you’re just over your current home and it’s time for a change. For…
I’m going to share a secret with you. It’s a truth that everyone who works, or has worked in the real estate industry knows – without doubt. Yet it’s never talked about publicly. It is never disclosed to you, the every day person going about your lives buying and selling property. Once you know it,…
Today a good client (who currently has their property for sale with us) received a phone call from another real estate salesperson who works for a different company. The conversation went something like this… Other Agent: “Hello Mrs ….., I have a good buyer interested in a your area. Are you listed exclusively…
As we welcome feedback, engagement and open discussion around Changing Real Estate, I was excited to receive an excellent comment on our opening article from an experienced agent struggling to see the advantages of what we are doing. It was an opportunity to give readers further insight into our thinking, so I enthusiastically dived into writing her a reply. However, it…
Recently the NAR (National Association of Realtors) in the USA in conjunction with Stefan Swanepoel (Renowned author and real estate visionary) released the D.A.N.G.E.R Report … Definitive Analysis of Negative Game Changers Emerging in Real Estate. http://www.dangerreport.com In a nutshell it is a wide ranging list and analysis of the threats and challenges facing the real…
In a recent online survey we asked… “Do you think in general the traditional real estate fee model offers clients value for money?” So far 88% of respondents have said NO. Interestingly, the other 12% were real estate agents. In the same survey 82% think traditional real estate fees are too expensive. So…
A fundamental shift from the old industry way of thinking, is providing clients with a fresh approach to real estate. Director Carl Slade, said their new locally developed real estate brand, ‘Restate’, has evolved from a vision for an industry that is better for consumers and agents. Mr Slade is a third generation real…
Research shows that ‘No Price Methods’ of selling your property: Take longer to sell and achieve a lower price. Wait? What?… But don’t many real estate agents say the opposite? Yes, they do. According to most mainstream agent websites: “No Price Marketing increases buyer demand and leads to a higher sale price”. But does it?…
If you find it annoying when properties are listed without a price, you’re not alone. It’s one of the biggest frustrations when buying a home these days. “What’s the point in even viewing the property if we have no idea of how much they want? We could be dreaming – when it’s way out of…
It depends on one thing. With real estate activities reopening after Covid19 lockdowns, many of our clients are asking this question. The standard answer from most real estate salespeople is going to be: “YES – it’s a great time to sell”. Because of course, for agents, it’s always an excellent time for you to sell.…
The short answer is that nobody knows. We are in totally new territory, and it’s therefore impossible to predict exactly what will happen. Only time will tell. Some commentators are talking carnage for the real estate market with suggestions of at least a 10 – 20% drop in prices. While it would be naive to…
The Aggregation Of Marginal Gains – what a world beating cycling coach can teach home-sellers. I came across an interesting article about Tour de France cyclist coach, Dave Brailsford. From the article: “In 2010, Brailsford faced a tough job. No British cyclist had ever won the Tour de France, but as the new General Manager…
With the real estate industry, it’s often all three. Let me explain one by one. (a) If it’s FREE, we are the product. Think about the business model of radio stations. Or Facebook, as a more recent example. To attract us (as users) it’s free. We get to engage, post and play for nothing. The…
The Battle Cards Are Set – Who Will Win? David vs. Goliath. That, sometimes, is what comes to mind when people hear that a “real estate agent” has approached a Private Seller (For Sale By Owner or FSBO). The perception that it’s a battle against wills. From the start, it’s known that the agent is…
When deciding who to hire to help sell their property, many people believe that some real estate agents have access to more buyers than others. And since every seller wants a buyer at the best price, it makes sense to list with the agent who appears to have the most buyers. If they have more…
When selecting an agent to help you sell your property, it’s natural for you to want the best. But who is the best agent? The answer depends entirely on your definition of ‘Best’… Best for the agent or best for you? On the whole, the real estate industry’s definition of ‘Best’ is grounded in self-interest,…
Identify as more of a Consultant than a Salesperson? Does your sense of achievement come from adding value, rather than extracting it? Want to protect and serve your clients rather than ‘close’ them? Are you uncomfortable with many of the manipulative sales techniques taught in this industries thirst for commission? Instead of the big egos,…
It starts with the primary shift in our operating philosophy: Seeing ourselves not as Commission-Driven Salespeople, but as Professional Service Providers. Fundamentally changing our core purpose from persuading you to serving you. From focussing on closing our commission – to focussing upon protecting your interests and maximising your net sale proceeds. We help you achieved that…
If you want to end up with the most in your hand from the sale of your property, you need to do three things. The first of which is Avoid Costly Mistakes and Traps. I’ve said this before and I’ll say it again: Your best protection from these mistakes is to avoid them in the…
In this video (below), we demonstrate the importance of Avoiding Costly Mistakes when selling your property. The key takeaways: 1. Costly mistakes are anything that needlessly erodes your equity (how much you end up with). 2. They’re often what we call “Hidden Losses”. Meaning people don’t even realise they’ve leaked thousands of dollars. 3. Many…
WHEN TO CONSIDER SELLING AT AUCTION It’s no secret that I’ve been pretty scathing of real estate auctions lately. Actually it’s more that I object to some agents spreading untruths and propaganda about them – for their own gain. But I’m also on record plenty of times over the years as saying that Auctions have…
We believe that being the ‘best’ should mean doing what’s best for our clients. So we restated real estate from a ‘Commission-driven Sales Industry’ to a ‘Professional Service’: Fundamentally changing our core purpose from Selling you to Serving you. From Persuading you to Protecting you. From Pushing you to Guiding you. From Pitching to Advising.…
It’s said that the most misleading cons contain an element of truth. A classic example is this main one-liner spoken by auction agents – and it seems after more than 30 years of seeing it – sellers are still falling for it hook line and sinker: “When you put a price on your property the price…
It never ceases to amaze me how much bullshit my industry peddles to consumers. That I think, ultimately harms you as home-sellers. And today I want to clear something up. Inspired by a video I saw by a pro auction agent entitled “Auction Misconceptions”. I think it should be titled ‘Auction Deceptions”. You see, he…
A story about a seller who lost $123,000 at Auction. When selling your property you naturally want to get the highest sale price possible. So choosing the right method of sale for your situation and property is imperative. Of course, no one method of sale is perfect. They all have their pros and cons. The…
Restate was founded to help clients NET more. You can imagine our concern when we discovered that some people were saying that we “undersell” property. The first time I heard it, I laughed it off. After all, you expect that when something new threatens the status quo, rather than rising to the challenge and improving…
When selling my property, I want to end up with the most in my hand. To achieve that I need to do three things: Obviously, I need to sell for the Highest Price Possible. Over the years, I’ve discovered that achieving the highest price (in any market) is not a matter of luck. It can be…
“Real estate is by far the most screwed up industry in America” – Redfin CEO Glen Kelman. On reflection, I agree. Real estate is screwed up on many levels. But not only in America. While many, like Redfin, are going down the technology path to try and fix it, I had the feeling that solving our problems…
Restate’s core philosophy is to repackage real estate as a professional service, and they have achieved exactly that. Every aspect of their unique model is geared towards the seller’s best interest, and it’s far more than a superficial makeover. In a world where competition just means a slightly lower commission, Restate make a radical departure,…
“It’s not my fault” is the catch cry of victimhood. We’ve all been there at some point in our lives. At least I have… Wallowing in denial. Making excuses. Blaming other people, entities or events. Believing it’s out of my control to improve my situation. And even worse: Believing somebody else is responsible for improving…
I’ve never met a home-seller who’s not unique. Different people, in different circumstances, experiencing different emotions, with different reasons for wanting to sell. [Which is what makes real estate so interesting.] But I’ve noticed they all sit in one of two main camps: They’re either ‘Definitely Selling‘. Or ‘Only Selling If…‘ If you’re ‘Definitely Selling’: Then…
I sure did. Especially when we’ve done a professional job bringing our clients property to market… Given superb and realistic advice up front (Blue-skying them to get the listing has never been my style). Helped our clients prepare themselves and their property. Followed the clients instructions regarding their desired pricing. Provided quality multimedia marketing… However,…
The world has changed. Along with the value we bring to the table We are no longer the gatekeepers of information. Sellers no longer need us to find buyers. Buyers don’t need us to find sellers. Our position as matchmakers, middlemen, has become obsolete. Consumers expectations are changing. They’re rejecting sales tactics and rewarding…
Once upon a time, four friends listed their property for sale. The only options were going it alone or listing with a traditional commission-only salesperson. The going rate in town was $500 plus 3% of their sale price, plus GST. Ken took responsibility for his sale. He knew that ultimately he was in control of…
New approach results in both a record sale price AND $12,500 saving on commission. Meet the clients: It was with sadness that Sandy and Jan were letting go of their apartment. It had been perfect for their lifestyle since purchasing off the plans 15 years earlier. The location, the ease of living. And of course, that…
When it comes to figuring out the market value of a property, who is the most reliable: Online Valuations, Registered Valuers or Real Estate Agents? I think there is a lot of misinformation out there about all three – so here’s my take in it: 1. VALUERS Out of all three options, Registered Valuers should…
Before going to market, if you want to know how much your home is worth, you can ask a few real estate agents for a Free Market Appraisal, engage an Independent Registered Valuer, or get a Free Online Estimate. Or all three. The problem is: you’ll get wildly different answers from each of them. In…
Let’s face it, the world has changed. Along with the value, we bring to the table. In the palm of our hand, we have access to more information than we know what to do with. We can learn whatever we desire. Ask, and the big Google in the sky will provide. But we can’t know everything.…
It was a gorgeous evening. The phone was off, my favourite CD playing and the bbq was primed. I’d been looking forward to some quiet time. It helps me sort the wood from the trees. On the way home I’d even called into the butcher and treated myself to a piece of his best fillet steak.…
Commission-Shock: Feelings of shock, bewilderment & sometimes anger when you realise how much the traditional real estate industry takes from the sale of your home. If you’ve experienced Commission-Shock, you are not alone. It’s estimated to afflict over 90% of home sellers worldwide, and until now there’s been no known cure. Take Bob for example, he…
“What we believe to be true, isn’t always the truth.” As ‘Mark & Angel’ recently put it: The truth is, no matter how smart or educated you are, your subconscious mind will sometimes attach itself to beliefs that habitually push you farther and farther away from where you want to be in life. This is…
Banned By Fairfax: Reasonable ‘Censorship’? Or ‘Bully Tactics’ – suppressing the truth for their own gain? You decide. Sure, we fully expected some real estate agents to try and shut us up. After all, in order to help consumers, we’ve exposed truths they’d rather you didn’t understand. We’ve even been accused of being a ‘whistleblower’.…
Since launching their ground breaking real estate service, just two years ago, more than 150 South Canterbury home-sellers have benefitted from keeping over $730,000 extra equity in their pockets. That’s an average windfall of around $4,800 each – to use for what ever they wish. Recent clients, Bill and Gail, said they plan to put…
Benjamin Franklin was undoubtedly a man of great virtue. So seeing his sage advice twisted into a manipulative & misleading sales technique – must surely have him squirming. According to wikipedia: in 1772 Franklin laid out the earliest known description of the Pro & Con list, a common decision-making technique… “… my way is, to divide half…
Will you walk into my parlour? Said the real estate salesperson to the home seller. ‘Will you walk into my parlour? Said the Spider to the Fly’ … are the opening words of a poem by Mary Howitt, published back in 1829. The story tells of a cunning Spider who ensnares a naive Fly. It’s a…
As a home seller, when it comes to choosing an agent, is the BIGGEST necessarily the BEST agent for you? Of course, the answer depends entirely on your definition of “Best”. For instance. You may think that an office with the biggest team means more buyers and is somehow better than an office with a smaller team. Which…
“Not only did we get $53,000 more than we were happy to accept, Restate also saved us close to $7,000 in fees” – Robert & Beryl Stevenson How does something like this happen, you ask? I will get to that in a moment, along with some important takeaways, but let me first take you back, so…
You’d think that like many other industries, as technology gets better and the industry becomes more efficient, the end user would see the benefits and better value service. Not so with the real estate industry. Just 10 years ago (2006) the average house price in New Zealand was around $370,000. Based on a traditional commission…
This is understandably a question many sellers ponder when selecting an agent. Your thinking seems to be that some agents have more buyers than others. Unfortunaltely this misconception is a trap. Firstly understand this undeniable truth: The ‘sales job’ in the traditional real estate industry is not persuading buyers to buy. It’s convincing you to…
Have you noticed that most ‘Salespeople’ these days, especially real estate salespeople, are calling themselves ‘Consultants’? The specific term used is “Sales Consultant”. Tell me, what exactly is a “Sales Consultant”? I mean, come on, it’s an oxymoron if ever I’ve seen one. They are either a ‘salesperson’ or a ‘consultant’. They are either…
It’s a good thing right? You do want them to be ‘hungry’ for the sale, don’t you? Well at least that’s the thinking served up by the traditional real estate industry. That it’s somehow better for you if the agent is ‘hungry’ for their commission. They’ll supposedly work harder, chase more, find more buyers and be more…
You are the real hero in this story. Who could have imagined that a small agency from Timaru, could disrupt the entire real estate industry? As you may already know, we’re changing real estate. Why? Because frankly, we both deserve better. You, as clients. And us, the agents here to serve you. We’ve all seen…
“A sign of wisdom and maturity is when you come to terms with the realisation that your decisions cause your rewards and consequences. You are responsible for your life, and your ultimate success depends on the choices you make.” – Denis Waitley Accepting personal responsibility for our actions and decisions is one of life’s scariest yet…
“Face the facts, you are now viewed as a ‘Profession’ and therefore required to act like one”… were Michael’s opening words as over 50 real estate salespeople shuffled in their seats. He was presenting a 10-hour verified training course on agents’ obligations under the Real Estate Agents Act 2008. The topic and focus was: Professional…
What is your real estate agents job description? Assuming, that is, you want the help of a real estate agent to sell your property. As we discussed here – being clear about what we want, is the first step to achieving anything. Remember, first comes the goal, then a plan (a proven formula, a recipe)…
“Son, you can have everything in life you want, if you will just help enough other people get what they want”. Dad’s words of wisdom still ring in my ears to this day and are a founding philosophy of Restate. It wasn’t until years later I discovered they were in fact the words of…
There’s a lot of talk going on about ‘disrupting’ the real estate industry, with two distinct schools of thought: 1) The industry is ripe for disruption. I predominantly sit in this camp for three reasons, although I’d personally change the heading to read: The industry is ripe for evolution. The first being it’s negative reputation.…
How my friend’s story of ‘Taxi vs. Uber’ can lead homeowners to higher predictable profit and better experience, when selling their home. Let’s just dive into it. Last week, we looked at how disruptive platforms like Airbnb and Uber are winning the hearts & minds, and consumer attention, in their respective industries. If you…
Millions of consumers love Airbnb, Uber, and dozens of other similar platforms that have disrupted their respective industries. So what about real estate? – how do their secrets apply?… Well, first, you have to define what a Platform is. For this, we can look to the book Platform Revolution: How networked markets are transforming the…
More importantly how NOT to. If you’re ever going to sell, you want to be aware of this. “If only they knew… It’s not right… You have to tell people about this…. You have to warn them”. Liz was of course talking about warning you… everyday sellers who don’t have a clue what’s happening…
It’s an unfortunate truth, but the fact is: 90% of you think NOT. (Roy Morgan Image of Professions Survey 2016). The next question is: WHY not? Well that’s a simple one to figure out. It’s the ‘Commission-Only’ business model, the self-serving ‘Sales Culture’ that’s responsible for both the behaviour that robs your trust, and the unreasonably high…
This morning on my Twitter feed was a quote from a real estate sales trainer, along with a link to a book called… Fanatical Prospecting: The ultimate guide to opening sales conversations and filling the pipeline by leveraging social selling, telephone, email, text and cold calling. Now to be clear, I haven’t read the…
Do real estate agents really ‘sell’ houses? It’s an interesting question. Isn’t that what you pay real estate agents for … to ‘sell’ your house? By ‘sell‘ we mean… persuade, convince, talk a buyer into buying your property. You see unfortunately many sellers seem to believe that is what real estate salespeople do. But nothing could be…
Yesterday an old friend Daryl posted a link on his business Facebook page. He is a mortgage broker and obviously cares about protecting his clients. The article was warning people, opening their eyes about the hidden costs and dangers of interest-free finance deals offered on retail products – like a new washing machine, TV…
I don’t know if you’ve ever heard of Matt Mullenweg? If you listen to the Tim Ferris Show (the #1 ranked business podcast on itunes), you may remember him being interviewed on episode 61. If not, Matt Mullenweg founded one of the largest websites in the world. Even if you don’t know his name, there’s…
Over recent months I’ve been in my mental cave. Head down learning, planning and working. I don’t know if it’s a bloke thing or just my introverted nature. I get in this hyper focus, almost obsessive state. Anything outside of the cave ceases to exist. Although it’s thrilling, almost addictive, to feel like you are…
In the name of increasing sales and selling product, is it ethical or moral to have one client pay $3,000 more, for the same product or service, than another client? This discussion is likely to ruffle some feathers, as the sanctity of sales and discounts are what drive many customers’ buying decisions. After all, if…
I realise the image to the right may look a little Howard Hughes-ish, but there is a method to my madness. And this sketch, if you’re thinking of selling your home, may have a profound and direct impact on your bottom-line profit. You’ll also want to share this with friends and family members that you care…
May I take you on a bit of journey? … There is a website on the Internet that I believe is the best website in the world. Would you like to know which it is? I’ll reveal that website in a moment but first have, let me share with you several stories that recently impacted…
The tale of an Employer, a Pill Pushing Doctor and a Commission-Only Real Estate Agent The other day I heard about a very upset mother. Her son had been recruited to do some specialised contracting work in a far off country. It seemed like a great opportunity. However, given the recent unrest throughout the world,…
Imagine you receive a knock at your door from a local plumber looking for work. You happen you have a blocked drain so engage him to fix it. He spends approximately 1 hour on the job. A week later you receive an invoice for plumbing services totalling 5 hours work. In confusion you call the…
Firstly, understand this undeniable truth… “The ‘sales job’ in real estate, is not persuading buyers to buy – it’s convincing you to sell.” Because without your listing – they have ZERO chance of taking a BIG commission. “No Sale – No Fee” is one ploy the industry uses to encourage more of you…
One thing we know is true of animals, is that when they are put in difficult situations, find themselves with no food, starving, small pups to protect and provide for – even the best, most well trained animal, will bite the hand that feeds it. They will resort back to and be driven by…
You need to sell your home. Many people don’t trust real estate agents at all. But who do you hire, assuming you’re going to—the Full-time agent or Part-time agent? I saw this story on propertynoise.co.nz the other day. A real estate agent, because of his advertising, is getting blasted on social media. He seemingly has offended everyone…
It’s an unfortunate truth, but how the traditional ‘Sales Culture & Business Model’ works, is responsible for bankrupting the real estate industry of trust. Because of it, consumers (the very people the we serve) are paying dearly for a massively inefficient industry. And, the term “Real Estate Agent” (in the eyes of society) has…
I’m going to share an experience with you. Because it clearly illustrates how sellers suffer massive losses while dealing with traditional real estate salespeople. Although over years, I’ve seen this happen more times than I can remember. This particular case – is one of the worst I’ve personally witnessed. To protect the confidentially of those…
“You can’t sell a secret”… is a line used by typical real estate salespeople, to convince you to advertise your property more. We will discuss why they would use such a line shortly. But first, focus on the line itself. “You can’t sell a secret.” It implies that you have to advertise your…
If you’ve ever sold a property, you have more than likely pondered how traditional real estate fees work. From your point of view, it seems like the agent gets a large chunk of your hard earned equity … and for what exactly? You present your property well and price it realistically. Sure,…
How ‘Free Market Appraisals’ Can Cost You Dearly. Maybe you are thinking about stepping up to a bigger home for your family, stepping down to something smaller, need to reduce debt, are going through the emotional rollercoaster of a separation, or you’re just over your current home and it’s time for a change. For…
I’m going to share a secret with you. It’s a truth that everyone who works, or has worked in the real estate industry knows – without doubt. Yet it’s never talked about publicly. It is never disclosed to you, the every day person going about your lives buying and selling property. Once you know it,…
Today a good client (who currently has their property for sale with us) received a phone call from another real estate salesperson who works for a different company. The conversation went something like this… Other Agent: “Hello Mrs ….., I have a good buyer interested in a your area. Are you listed exclusively…
As we welcome feedback, engagement and open discussion around Changing Real Estate, I was excited to receive an excellent comment on our opening article from an experienced agent struggling to see the advantages of what we are doing. It was an opportunity to give readers further insight into our thinking, so I enthusiastically dived into writing her a reply. However, it…
Recently the NAR (National Association of Realtors) in the USA in conjunction with Stefan Swanepoel (Renowned author and real estate visionary) released the D.A.N.G.E.R Report … Definitive Analysis of Negative Game Changers Emerging in Real Estate. http://www.dangerreport.com In a nutshell it is a wide ranging list and analysis of the threats and challenges facing the real…
In a recent online survey we asked… “Do you think in general the traditional real estate fee model offers clients value for money?” So far 88% of respondents have said NO. Interestingly, the other 12% were real estate agents. In the same survey 82% think traditional real estate fees are too expensive. So…
A fundamental shift from the old industry way of thinking, is providing clients with a fresh approach to real estate. Director Carl Slade, said their new locally developed real estate brand, ‘Restate’, has evolved from a vision for an industry that is better for consumers and agents. Mr Slade is a third generation real…