The “Big O” – Why Luxury Agents Get Paralyzed by This
This week, I will be exploring one of the biggest fears of new luxury real estate agents.
A lot of agents sit on the sidelines, thinking that they had to be born rich and well-connected in order to break into luxury real estate. In particular, those agents are paralyzed by the “Big O” – the big objection.
What Is the “Big O”?
The “Big O” is knowing the answer is zero when a seller asks you such questions like:
- How many million-dollar homes have you listed?
- How many million-dollar homes have you sold?
- How many homes have you listed in that area?
- How many homes have you sold there?
How to Combat the “Big O”
How you frame your response to those aforementioned questions can make all the difference in overcoming the “Big O.” Your response should exude passion, drive, and motivation.
For example:
“I have never sold a million-dollar house before. I have never listed a home in Buckhead over a million dollars. However, I plan to make my mark on this market and on your listing. In fact, this is going to be the last thing I think about every night before I go to sleep and the first thing that I think about every morning when I wake up. I’m going to make my mark on the sale of your home. In fact, I pledge to you that I will not take another million-dollar listing at all or in your neighborhood until we have accepted an offer on your house.”
“Let me ask you this: how does it feel to have somebody this driven and motivated to get your property sold?”
This Works Best With Self-Made Individuals
You have to understand that the luxury agents you’re competing with have six or 12 luxury listings and they have a sense of entitlement that comes along with that. They’re probably not even showing the property themselves – they’re delegating it.
If you project that driven and motivated approach to self-made individuals especially (this works less successfully with second and third-generation wealthy people), they will see a little bit of them in you. They will take a chance.
You need to find that maverick in the market who's willing to take a chance on the agent who's audacious, driven, hungry, and who will give them that personal one-on-one attention they crave in all aspects of their lives. Share on XUntil next time, make it a great week.
