Ep: 005 July 24, 2020
The Hook: How to Sell Vacant Land
You've picked your county. You've priced your list. You've mailed your letters, and then finally, you bought some properties. Inventory is great, but it's all for nothing unless you can sell it. Wouldn't it be great if you could get the customer to sell themselves? Marketing is like throwing bait into the water to attract the fish. In this episode of Land MBA podcast, we're going to talk about setting that hook and reeling that fish into your sold folder.
Sometimes you buy a piece of land and you think it's gonna be great for a particular purpose. Then you find out that something's wrong with it. What are you going to do with it? There's always a market you just got to find the right use for the right market.
Maybe a buyer might call you thinking one thing about the property you have and be totally wrong, but you've got another property to sell them. You always want to have a diverse inventory.
There's one golden rule to live by. And that is you have two ears and one mouth use them proportionately. Your job is to get your client talking. And too many times we want to jump and tell them about this attribute and that attribute, but we don't take the time to find out what their dream is. You need to build a trust. And then, as you let them talk a little bit more, you ask some really good questions that really make it apparent to them that you care.
Here is the golden piece of advice. If you haven't read, Never Split the Difference by Chris Voss yet, stop what you're doing right now. It is a life changer in every regard, but particularly, it's useful in the land business. The techniques in that book are absolutely phenomenal. And one of the key techniques that he talks about is mirroring. Basically, you just repeat those last three words and then silence. Never be afraid of the silence because silence is uncomfortable.
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