Get ready! Matt and Garrett have a fun episode for you today. They’re discussing data. Hold on! Don’t roll your eyes and don’t close your podcatcher. You can bet that this episode will be well worth it.
Today’s topic comes from one of Garrett’s recent coaching calls with a Ninja who has a property that just won’t sell. Turns out there is some important data around the property that would help explain the issue, but it’s being ignored. To help you navigate around a lot of the noise out there, Garrett and Matt will point you to the necessary data and then discuss how to use that data to have educated conversations with your clients and bring clarity in an uncertain market.
Before we get going, be sure to check out the Ninja Selling Podcast group on Facebook, and find lots of opportunities to connect with amazing people on all fronts: join the Ninja Selling Podcast group on Facebook at Ninja Selling Podcast Facebook to share ideas, ask questions, and connect with more Ninjas. You can also leave a voicemail with your direct feedback at 208 MY-NINJA. And visit Ninja Selling Events for more information about upcoming open installations. Or if you're interested in taking your goals a step further, visit Ninja Coaching to check out all of our top-notch coaches.
Episode Highlights:
- Know the appreciation rates for your market
- Trends in the last 2 decades versus the last 2 years
- How does ownership bias factor in?
- Paying attention to and understanding data = clarity
Quotes:
“You need to be looking at these numbers. Like, you need to have these numbers so that you can have an educated conversation with your clients.”
“We overvalue the things that we own. We tend to put more value on things that we own than things that we do not own.”
“Because not only is this something you own and cherished, it’s most likely the largest asset that you have financially.”
“Look at the FHFA document. Let’s look at the HPI report.”
“Larry shared with us about anchoring sellers into ‘Hey, what did you pay for this house?’”
“We had a whole podcast dedicated to how your primary residence is not an investment. Don’t look at it that way because it can get you into trouble.”
“We need to be able to sit down with our clients and show them that this is what’s really been going on.”
“Take a step back, look at the information that’s presented to you to help people understand what it means to be a homeowner.”
“Because most people would have 20% down, that means your value of your liability is 80% of the value of your house, right? So the value of the asset: most of it is not even yours.”
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Garrett
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Matt
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