“Scarcity creates value.”
These 3 words were the final words in Seth Godin’s post this morning.
The unique houses with surprising features often sell faster for more money than the rest of the herd.
When you’re selling something (ANYTHING), consider scarcity.
What is it about this thing that’s scarce relative to other things that generally meet the same need the Buyer seeks?
To know this, you must first know what else is out there. For the REALTOR, this means that previewing houses is actually a service to her clients . . . The better she knows the other houses on the competition, the better she will be able to identify any scarcity that exists.
What if they’re all the same?
Can we CREATE scarcity?
Sure! We can add a fence or a screened in porch . . . or leave a car in the garage for the new Buyer . . . or price it below market . . . or offer incentives no-one else has thought of like a year membership to the local health club . . . or a 5 day cruise in Alaska.
The magic pill for selling anything in this market is scarcity.
If it ain’t there, CREATE it . . . and know that until it’s there, you’re going to sit dead in the water just like the others and watch the “scarce” houses flash in – then quickly out of the market (SOLD)/
2 follow up thoughts – We created Pareto Realty based in large part on this scarcity mentality. What we offer to our agents is refreshingly different from the herd of other options even to the extent that we have made a conscious decision not to “Hawk” at all the REALTORS in an attempt to coerce them into joining us.
Interestingly in the 2 weeks we have been open we have not made any “recruiting calls” yet we are gaining agent commitments daily – People who have heard hints of our model and have shown up out of curiosity . . . Looking for scarcity.
Home Sellers . . . Let’s talk about finding or creating scarcity for YOUR home such that IT flashes through the market.
I’m just sayin’