Thoughtful Presentation and the Reverse Close in Sales | 1min snip from The Tim Ferriss Show

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#725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul

The Tim Ferriss Show

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Thoughtful Presentation and the Reverse Close in Sales

In sales, it is crucial to be thoughtful in how you present properties to potential buyers. Details such as the sequence of the apartments shown, the neighborhood, and even the route taken can greatly impact the impression. The reverse close technique, which involves showing a range of options and urging the buyer not to make a hasty decision, is highlighted as a powerful strategy for ensuring that the buyer makes a thoughtful and well-considered purchase.

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Barbara Corcoran has been an investor/Shark for the past 15 seasons on ABC’s four-time Emmy-award-winning show, Shark Tank. She is also the founder of an eponymous real-estate company, which she started with a $1,000 loan after leaving her job as a waitress in New York City. Over the next 25 years, she would parlay that $1,000 into a $5 billion real-estate business. Barbara is the host of the top business channel on Patreon, Barbara in Your Pocket, which provides exclusive content created for entrepreneurs at every level.

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Timestamps for this episode are available below. Resources from this episode: https://tim.blog/2024/03/06/barbara-corcoran/

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Timestamps:

[00:00] Start

[05:56] Barbara’s fake funeral.

[08:23] Where Barbara’s knack for PR originated.

[10:02] Storytelling.

[11:25] Early business wins.

[14:29] What Barbara learned about competition as one of 10 kids.

[17:27] Early jobs: Barbara’s real education.

[20:04] Dyslexia and dodging the victim mindset.

[22:50] Barbara’s first company.

[26:47] Why Barbara didn’t begrudge her first business partner’s romantic betrayal.

[28:41] The value of enthusiasm.