Ninja Selling Podcast Negotiating 'Home Plate' with Larry Kendall
Larry Kendall's most recent visit to the podcast was so jam-packed with information that Matt and Garrett decided they needed to have him back again to continue the discussion, and lucky for all of us, today is that day! In this episode, Larry picks up where he left off by delving into the concept of negotiating home plate in an effort to reverse the cancelled contracts that some realtors are experiencing in the current market. When Larry speaks, it's wise to listen closely, and today is no exception!
He and our hosts begin by emphasizing the importance of researching the frequency of cancelled contracts in your marketplace, defining 'home plate' and when to negotiate it, and the necessity of counseling your seller or buyer early on, particularly about the 5 negotiating points in a contract. They then explore some of these points, including contingencies and dates, stress the need for you to control the process, and offer some strategies to help you win contracts. The 'magic wand' approach, the concerns with electronic negotiations, and the value of backup contracts and showing up at 'moment of truth' are discussed as well. The episode concludes with a review of the components that go into the right listing, getting the 'perpetual motion machine' going, and a recommendation to attend Ninja Installations whenever possible. As they note, there is so much information presented here today, you will want to run through it a couple times just to ensure you haven't missed any of the priceless pieces of wisdom shared.
And, don't forget that, after receiving many requests, Matt and Garrett have decided to start a Facebook group where listeners can get together to talk about episodes, ask questions, and connect with others. Our hosts will be in the group as well to do some fun things and serve as resources for members of the group. If you're interested in joining this community, please go to https://www.facebook.com/groups/theninjasellingpodcast and sign up today!
Episode Highlights:
- Researching the number of cancelled contracts in your market
- What 'home plate' means and when to negotiate it
- Counseling your seller or buyer
- The 5 negotiating points of a contract and educating your clients about them
- Contingencies and dates
- Controlling the process
- Some ideas to help win the contract
- Larry's example of using the 'magic wand' approach
- Electronic negotiations and the 'faceless other'
- Backup contracts
- The components involved in presenting the right listing
- Showing up at 'moments of truth'
- Getting the 'perpetual motion machine' going
- Ninja Installations
Quotes:
"There's a lot of damage that happens around this."
"Ninjas are about efficiency and having a process and high income per hour and customer satisfaction."
"We recommend that you negotiate 'home plate' at the time you have all those offers on the table."
"You need to negotiate as much as you can up front."
"I'm not watching the listing agents...and sellers understand the power that they have."
"See what the options are…ask the questions."
"These discussions need to happen up front so that you're negotiating 'home plate'."
"Pre-inspections are absolutely God's gift to realtors."
"As the listing Ninja, you've got to control that process on behalf of your seller."
"If you want to win the contract, take a look at the 5 negotiating points."
"Don't stick your head in the sand."
"If your seller could wave a magic wand and have this transaction go just the way they want it, tell me about that."
"Price isn't everything to all sellers."
"Pick up your phone - that is your best negotiating technique, in my opinion."
"How many offers do you really have?"
"Your next listing is embedded in this one."
"My goal is to put you in the strongest negotiating position possible."
"Top producing Ninjas who really bring their A-game are not having a problem with inventory right now."
"Don't ever sacrifice process or service because of what the marketplace is doing. Always be at this high level."
Links:
www.TheNinjaSellingPodcast.com
Email us at TSW@TheNinjaSellingPodcast.com
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Garrett
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Matt
@matthewjbonelli