Is it enough just to be ‘on’ the market? It has been said that some of the best properties in the world can remain unsold. Why is that?
I believe it’s because there is a BIG distinction between being ‘on’ the market and ‘in’ the market.
The simple language change around this, and what it means, can have a massive impact when communicating with your vendors and working towards clearance. Change it up today!
Click to watch the video (or simply read the transcript) below to learn more.
Here is another Coaching on the Go Moment from real estate coach Caroline Bolderston.
“On” or “In” the market – The right real estate language
What is the difference between being on the market and being in the market? There is a massive distinction between the two in my opinion. The change of one word to another can absolutely be game-changing for your clearance and for your overall results.
It’s pretty simple to be on the market. The language I often hear from vendors and agents is “We’re on the market” or “We’re coming to market”.
What you need to do as an agent is not only have a listing on the market but ensure you are positioned in such a way that you’re truly in it.
I thought I’d share the distinction in language between the two so you could bring this into your next vendor communication.
“On” the market measures
When you on the market, measures are things like:
- Real estate portals
- Running open homes
- Conducting inspections
That doesn’t necessarily mean that the market is engaging with you and that you are firmly positioned in the market in such a way that there will be progress activities that you need in order to get sold.
Progress activities that measure being “in” the market
Those progress activities are quite simple:
- Conversions between the number of enquiries, converting through to a number of first appointments. This could be open homes or one on one.
- First appointments that convert to second appointments.
- Second appointments converting through to due diligence around valuations, building and pest, contracts and looking at the documentation in order to get to negotiations.
The distinction is pretty clear.
Are you explaining enough to your clients that there is a difference between being “on” the market and “in” the market and the progress activities that needed to be positioned in a way to get the outcome needed?
I hope that’s helpful and I’d love you to take that for a bit of a spin and see how it goes.
If you have a genuine desire to serve your clients, work hard and become the best you can be – contact me via the section below to discuss how coaching can work for you.