What To Say Now: Episode 18
Make More Money Without Working harder
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Show Notes and Links:
What To Say Now Facebook Group: https://www.facebook.com/groups/whattosaynow
Full Show Transcript:
Dan Stewart (00:13): Hi. It's Tuesday at 2:00 PM. What that means is it's time for another episode of What to Say Now. Thank you for tuning in. I love to see you here. I've heard a lot of feedback over the past week from people who are watching this in syndication. Eddie Campos at Remax Preferred in Toledo, thank you for your kind comments. Love to see people tuning in because one of my highest values is to share the things that I've learned that have helped me build a career and the life that I treasure. Today, we're going to dive into a topic that is really, wow. I mean, this is a wow topic to say the least, because believe it or not, right now there are thousands of people who are earning an amount of money that's far below what they could be earning even without working any harder.
Dan Stewart (01:04): Okay? Let me break this down for you. Specifically, if you sell real estate for a living, your income is based on your average transaction value, right? If you sell a home that costs a lot more, you get paid more obviously than you do for a home that cost less. Why don't we have more agents working on shifting up market, right? There's so much opportunity there. If you decided for yourself, you know what? I want to earn double the amount of money I earned last year, but I don't want to work more hours this next year. That's possible for you by shifting up market. If you said, you know what? I want to triple my income and work half as much as I worked last year, that's possible if you shift up market. When these things are available to us, why is it that we don't do them. Right?
Dan Stewart (01:53): What is it that's stopping us as individuals from reaching for that when it's possible? Well, it comes down to our internal mindset. Very important, before we can say the right things to other people, we have to say the right things to ourselves. Right? Today, we're going to start by just acknowledging that we're carrying around a lot of junk in our heads that's preventing us from having the success we could have in our lives. Right? Walk with me on this. How many people have you heard in your life say things like "It's easier to pass through the eye of a needle than for a rich person to get to heaven." Right? How often have you heard people say things like, "Ugh, rich person." Or, "Oh, you see that guy driving a Porsche? What is he compensating for?" Right? We have all these negative connotations that are associated with wealth, and that prevents us from reaching to serve a wealthy community.
Dan Stewart (02:51): Today, we're going to break down some surprising things about that community. I'm going to show you specifically how to overcome those issues so you can enjoy the kinds of results literally today if you choose to apply it, as so many other people I've taught this to. Rather than just expect you to believe that this really works, I'm going to read you some results. This is from Jenny Barker. She says, "Dan, I was in your class at KW Family Reunion in February. Just want to take this opportunity to say thank you. I really enjoyed the class and recently used what you taught to work with a high end buyer. I wrote an offer on a $2.2 million home." Right?
Dan Stewart (03:34): Here's something from Kim Litvack. She says, "Don't bring my checkbook to their transaction. That one phrase caught me the moment you said it and was a major aha for me. In fact, it raised my average transaction value by $326,000. That's profound, meaningful, it makes me incredibly grateful. Just wanted to share. You've made a positive difference in mind, my family's life, and even my clients. They may have ended up with a weaker agent because I was carrying my checkbook around. Thank you."
Dan Stewart (04:06): Then one more, this is from Carol Castle. She says, "Sent out my fourth blast and got a call from a potential seller to come list his mom's house. Potential 1.1 to 1.2 million. Thank you." Wherever you are in the country, in your market, you'll notice that there are homes that sell at an average amount and then usually there's a section of the market that sells above. You may be walking around with some garbage in your brain that's preventing you for reaching for that. For example, maybe you think, "Well, I don't drive a nice enough car. I can't go after those people." Or, maybe you think to yourself, "I'm not with the right brokerage, so those people won't come after me." That is all just a bunch of garbage. It absolutely is. No matter what you drive, no matter what your background is, no matter where you were raised or how you were educated, you have what it takes to shift up market. Okay? I'm going to prove that to you.
Dan Stewart (05:06): First thing that we've got to do is acknowledge who these people are at the top of the market. These are what we call high net worth individuals, HNWI. If you were to Google that, look it up on Wikipedia, you would see that a typical high net worth individual is someone who's got a million dollars of liquid assets available that they can invest. That's what it takes to get into that club. If you're dealing with million and multi-million dollar homes, you're going to run across this person and that can be intimidating, right? Maybe you think, "Oh, this person's smarter. This person's more aggressive. Maybe this person's greedy." Right? You may carry around all these sorts of things with you. What I need you to understand is that 80%, a full 80% of high net worth individuals earned their wealth themselves. Okay?
Dan Stewart (06:00): That means that they're carrying around the very same social structures, the very same mores that you have in the way you were raised, they have as well, 80% of them do. Okay? Think about that. If you're raised in say a middle-class family and you've achieved this level of prosperity, well, sometimes you need some help to get over that hurdle, to buy that multi-million dollar home, to buy that luxury car, to spend all of that crazy amount of money on a luxury can feel really hard to do for people who are newly wealthy, who've created that wealth themselves.
Dan Stewart (06:41): For example, I'll use is a guy named Justin CB in Atlanta, Georgia. I went and taught this class for Justin's team and he went out the afternoon that I taught it and he showed a $3.2 million listing. The clients wanted to submit a low ball offer. He talked them up to 3.1 and it's the largest transaction he had closed at that point in time. He said it was the scripting that I taught him that allowed him to overcome that, right? Let's dig in and talk about what that scripting is. In previous sessions, we've talked about the concept of validation. How no matter where a person is in their life, they need you to validate what they want. Okay? If you're dealing with high net worth individuals and you detect that there's some reluctance here, you need to learn to say things like, "You know, I think it's wonderful that you've arrived at a place in your life where you can afford to get your dream home. My role is to make sure that you do exactly that. You deserve to get everything you want. I want to help you do it." Validate, validate, validate, right?
Dan Stewart (07:50): Then, you can follow that up by asking an additional question. This was particularly useful for Justin in his scenario. The buyers were attempting to discount from the listing price of the home the things that they wanted, the things that they would not have built into the home. Things like heated towel racks, right, like a heated driveway. These were things that they wanted reduced from the price of the home. Justin did what I asked him to and he asked questions like, so "How would it make you feel to live here? What would it mean to you to come home here every day and to know that this place were yours?" Right? You're taking that emotional connection and bonding it with the experience of living at this property. Their brain is going to fill in the rest of those blanks.
Dan Stewart (08:42): At the same time, when you're adding language about how they actually deserve to get what they want, you're very quickly getting them to a place where they're willing to say, "You know what? You're right. I have worked really hard. I do deserve this. I've earned the opportunity to get what I want and I deserve to do so." They will really appreciate you for helping them do this. It's not a situation where you're manipulating them in any way, shape, or form. You're simply helping them get what they want more quickly. That's the job of every professional salesperson. Now, I'm going to back this up with some data points. If you look at luxury brands and how they advertise themselves, you'll see that this concept is used all over the place.
Dan Stewart (09:27): One of my favorite ads of all time is for Porsche, right? They have an ad for a car that doesn't even have the car in it, right? It's really, that's how strong the psychology is. They don't actually need to show the car in the ad for the ad to work. It simply has some copy. The headline says, "If you could choose between world peace and a Porsche 911," and then in fine print, right beneath that, it says, "what color would you want your Porsche to be?" Okay? Think about that psychology. They're targeting that person and who's got the money in the bank to purchase the car, but is hesitating to do so because they know there are other places they could be put that money where it could be used. In this case, for valuable things like putting it towards world peace. We all have competing values in our lives. If we're going to win the transaction, if we're going to help our clients get what they truly want, we have to become masterful at validating their desire to own these things.
Dan Stewart (10:30): That's exactly what Porsche is doing with that copy in the ad. We see this over and over again in luxury car advertisements. You won't see them talking about lease rates, right? You won't see them talking about miles per gallon. You won't see them talking about 0 to 60. You'll see them talking about how it feels to actually own the vehicle. Right? They're asking you to imagine a scenario where you get to feel really great by possessing this object, right?
Dan Stewart (11:03): There's one from Ferrari I also appreciate, and it's just a picture of a car and then a headline. That's it. The headline says "Incorruptible power asked pristine beauty to the dance." Okay? There again, they're not selling the car. They're selling what you get to experience. When you have the car, you get to be a person who's incorruptibly powerful, right? You get to ask pristine beauty to the dance. That elevates, it elevates it activates all those neurons and synapses in the brain that that people think about when they're on a path towards building wealth.
Dan Stewart (11:46): I know that many of you, and myself included, were on this path, right? Speaking personally, I was up in a scenario where we didn't have means. At times, we were a typical middle-class family. At other times, we needed government assistance to make ends meet. I learned a lot from that experience. One of the things I learned is that I want to, that I value creating prosperity in my life and helping other people do the same.
Dan Stewart (12:13): This episode of What to Say Now has a lot in it. Let's recap a few things. First, the only thing preventing you from shifting up market and increasing your GCI is your desire to go ahead and do this, right? That's it. You've got to drop that fear, drop those preconceived notions about what it's like to work with rich people. Okay? There's adequate proof that this works. We see it over and over again. Every time I teach this class, I'm going to hear from somebody who says, "Oh my gosh. I said what you asked me to say and it worked. I'm blown away."
Dan Stewart (12:49): Again, to review, the high net worth individual, these are people with a million dollars liquid or above. 80% of people in that category earned their wealth themselves. They're carrying around the very same mores and psychological foundations that most of us are. They need our validation. Now, the number one challenge that you're going to encounter as you run over this, as you get out in front of people, this is going to be the thing that pops up for you. Hear me clearly, do not bring your checkbook to their transaction. You might be walking around that multi-million dollar home and you might have your own financial pressures going on yourself. You might have kids in college, right? You might have a tax bill that's due. You might have medical bills that you've been trying to pay off for the longest time. You've got to leave all of your own financial baggage at the door. Do not bring your checkbook to their transaction.
Dan Stewart (13:51): Your only role in that scenario is to help this high net worth individual get what it is that they want, right? You're the pathway to do that. When you use this language that I've taught you, you're going to see how easy it is to pave that path and just remove the resistance between their own hesitancy to invest, to spend that money on things they want and their ability to actually do it.
Dan Stewart (14:17): Here's what we need to do next guys. There's a lot here. I've covered a lot. You should listen to this a few times, let it all sink in. I'm happy to go deeper in future episodes. Every single thing that I've talked to you today is based in psychology. There's a tremendous study called The Values and Lifestyle Survey that was put out by SRI International. It's from a government study that was launched in the 1960s and has been run concurrently every year since. The things that I've taught you today come directly from that study. It's the study that corporations spending billions of dollars a year advertising, they all buy that study so that they can understand the psychology of the people they're selling to.
Dan Stewart (15:04): What I'd like you to do is to consider how applying this knowledge in your marketplace can really make sense and how it can impact your business over time. What to Say Now, as you know, is my weekly passion project. It's a place where I pour what I know into you so that I can achieve my ultimate mission, which is to help connect the world in conversation.
Dan Stewart (15:27): Next episode will be Tuesday, 2:00 PM next week. I'd love to see you there. Would love to tune in. Please go to our Facebook group, facebook.com/groups/Whattosaynow. You can post your communication questions there, myself and my writing team will engage. We'll help solve those problems for you. Finally, if you're considering what you can do to convert more of the leads that you're generating, what you can do to activate those old cold leads that haven't gone anywhere, I would highly encourage you to talk with me or one of my database specialists. You can do that by going to Happygrasshopper.com/apply. That's where you just grab an appointment time, you answer a few questions so we can understand best how to help you. Then, we'll give you a free consultation to work with you to hear what's going on in your database, to hear about your goals, what you're trying to achieve, and then we'll map out a plan to help you achieve it together. Thank you very much for watching this week. Definitely appreciate you. I'll see you next Tuesday at 2:00 PM. Bye now.