Hey welcome back to confidence and conversion. I've got tom toole we're talking about two opposite ends of the spectrum. In terms of what to say circle. Dialing to past clients doesn't get any more different than those two tom someone right now is saying to themselves.

I understand the value of circle dialing like i hated it, but it's where we're finding sellers for a percentage of the market there's got to be more than one way to do it so sure so talk to us. What should we be saying to give some context? I got into real estate before zillow existed right and most of my business came from working my sphere and circle dialing around neighborhoods, where we sold properties. So this is a really good topic, so circle dialing to me: there's really three or four ways you can intro it and then the beauty is the follow-up. Questions are all the same yeah.

So you know the the first way i would start it is ring ring ring hello, hi tom, my name's tom, i'm a local agent in westchester. Did you see the home that sold up the street and what they got for it? No, so one two three banana just went fifty thousand dollars over the asking price with six different offers. So congratulations. The value of your home just went up and we've got other people looking to move into the neighborhood.

Do you know anyone else, who's? Thinking about selling? That's a great little intro, it's perfect and then all the other sets like if you were to move over you're going to actually right if they're interested, but don't ask them, ask if they know anybody. Okay, that's that's really critical! So, what's the second intro you got, an open house ring ring, ring hello, hey tom, it's tom here, i'm a local realtor in westchester. I just listed your neighbor's home and we're having a neighbor's only open house on sunday before the public one starts we've got it listed at 900k, which i know is a lot more than anything that's sold for in the neighborhood. Did you want to stop by and check out the property yeah we'd like which property is one two three banana right, easy and then it's just it's just get them there, because if you get them there, then you're gon na kill them with kindness, face-to-face you're gon Na convert it 10 from open houses, you're already face to face with them.

That makes it a lot easier for any agent. That's out there are there other intros you're finding that are effective, sure um! You can call the active listing, it's you. Let them know hey. I just listed it it's kind of like the open house, one yeah better.

Yet when the home sells right and you've closed it, hey did you see what we got for the property? Okay, so ring ring ring hello, tom hi. This is uh tom. I'm a local agent in westchester. I was calling you because we just closed the home on ferry road about a day ago.

They got 9.50 for the property, and i didn't know if you're aware of it. I know a lot of people aren't in that decision-making phase and i wanted to see if you know anyone else is thinking about moving, because that's a crazy price that what did they sell it for 9.50 wow. I bought this house like 25 years ago, probably went up a lot. It's gone up a lot um.

What was your name again, my name's tom tool, i'm with re max right like that's right and then just what i love about it. Jeff mays, when he was on the show several months ago, he said: hey man, it's service calls, i'm just letting everybody know like. Did you hear about your neighbor? Congratulations, your home's gone up in value, and it's such a it's. It's actually like a really nice phone call to get versus like hey.

If you thought it was right, like close, close, close, close close, it eliminates the commission breath and you're giving value and most people they don't pay attention to the market unless they're. In that six, seven percent - that's thinking about transacting right right! So let's flip it to what are you saying these days or recommending your agents are saying to our past clients to our sphere? So here's the here's, the hack, don't talk about real estate when you call them right ring ring ring hello, tom, hey it's tom toole here, how's it going man what's up tommy, what's shaking just wanted to, you know we're we're working hard like everybody else wanted to See how you and the family are doing. I know it's been a couple years since you moved into ferry road uh. You know obviously very grateful for the relationship how's, the house, treating you so far, man, the house is so awesome.

I mean it's a little cold right now, we're always concerned about pipes and all that kind of stuff, but you, you know you know my wife ben. She loves like this, like this old style property, like it's cool, we're doing good, i'm i'm glad that you're doing it, everybody good yeah, we're hanging in there. I mean you know virtual school. You know kids in school pandemic going into year, three all the fun stuff that everyone's dealing with right.

I i hear your brother, i hear you, we got ta get together for a drink man. I'm in i mean we're we're happy to do that, uh. So i'll i'll show you i'll text you some dates here. So yeah how's work been for you.

I know you were kind of in and out of the office a little bit yeah i mean it looks like we're. Gon na go 100 virtual for a while, like uh, you know, i mean it works man, but i just i just miss the energy. I miss the you know camaraderie, but you know hey man less miles on my car and you know my kids are out right. So it's it's way easier.

I can't even imagine, like you know, if you guys are in that situation, with a nine seven and five-year-old yeah, it's it's it'd be it'd, be tough. Getting some work done. I think the first day of virtual uh virtual work, my son, shot me with a nerf gun on a webinar or something so it's i i hear you um so works good. I mean it sounds like that's going well.

Yeah it's going to need like vacations planned. Are you doing anything uh fun when it warms up here, ma'am we're trying to get to you know southern philly aka florida, just uh, you know i don't know man have you guys been to that breakers hotel. Yet yeah breakers is it's pretty? It's pretty sweet. It's! It's my wife loves that place so yeah i mean you know we're just trying to figure it out like we talked about doing a ski trip, but i just i'm just it's too cold man i don't want.

I don't want to go from cold to cold. I want to go cold to warm. I i get it i'm with you. There yeah cool yeah, hopefully soon so um next week or two a little busy for me.

Why don't we look for like the end of the month, i'll show you a text with a couple dates. We can meet up with you and kathy yeah grab a pop or so, and if you need anything in the meantime, we're here and just good connecting with you tom yeah man and that's it because guess what they know: you're a realtor right. If they want to talk about real estate, they're going to ask you right - and i was just letting you just go because i know like and eventually we're like hey man like what's going on in the market here, there's no, you know like let's, let's, let's play A game ready so sure tom, i you know, hey man, i totally appreciate you calling and uh. You know it's good to hear your voice and you know please give my best to bridget and the kids um.

Can i can. I pick your brain for a second yeah sure i am reading every day. Man bloomberg wall street journal, inflation, inflation, inflation and then i look around the local marketplace. I saw something zeal the other day.

There was no homes for sale like so like there's no homes for sale, we got inflation, everybody says it's either. You know investing in like those inflation uh, you know what are funds right buying more real estate like what do you? What are you guys seeing? How are you guys even surviving it there's no homes for sale, so so you're seeing it from someone? That's not in the market, which is a very different perspective than a buyer, who's looking for a home or a seller, who's ready to transact, and what we know is that there's more homes that sold in 2021 than 2020.. So, even though inventory is not sitting on the market, long yeah we're down to less than a month's supply in the suburbs, a little about two and a half months in philly uh. So we've seen that the inventory has shrunk down a lot, so more homes sold more homes sold they're, just not in the pandemic.

Yeah they're, just not sitting on the market. Really because i mean everyone, everyone says the same thing: there's no home. I was talking to a friend who wanted to sell, which i got to give you his contact info um, but he was like i'm just really concerned about selling, because there's just there's nothing on the market. They know they can sell for record price.

But where are you going to go well that that's the thing? Is that a lot of people? They don't have a game plan of how they're going to navigate this market and be like, unfortunately, for buyers. Right now, like you got to go like the home gets listed, you better leave. Work drop your kids off whatever you're going to do and go look at that house right away and you've got to have someone that can handle that sort of hustle that needs to happen at a very high level days on market dropped to 23 this past year. I mean that's the lowest we've seen ever where it was trending around 45 in 2020 and around 60 in 2019, so we're seeing homes are selling quicker and the average list of sales price ratio is 101 to 102, so homes are selling literally two percent above ask On average right in philadelphia, it's a little different.

I know we're looking at a suburban move uh if it's, if that's what your buddy's talking about here, so it's really going to depend on what's happening locally and there's even a difference between like townships and school districts and everything else. So you just got ta know. What's going on from the outside yeah, there's not a lot! That's sitting out there for people like you that are zillowing like on saturday night, live and checking that stuff out right for the consumer. They just there's opportunities and there's a lot of competition because of all the millennial home buyer demands, but we're we're seeing.

We've won 78 multiple offer situations in the past three months, so wow. We know exactly how to do it here. It's just a matter of having a game plan, that's going to work and then getting people ready to do it, and we found that a lot of buyers. They have to kind of lose the first house.

Then they realize we know what we're talking about and then they're winning on the second or third attempt love it. So so the one thing i want to point out for the person listening or however you're consuming this content is uh. This show is called confidence and conversion, and you just uh exemplify both right, you're very kind, but you, i think everybody can hear like his tone, his language, also the cadence right, like i guarantee. If i got on the phone, i was talking a little bit slower versus the way we typically talk right.

You would probably slow those things down a bit like you just you've, gotten to that level. We've talked in previous shows about role, playing and practicing. How important is it for an agent today and what's your hack to really know the market like to study the mls and find the correlations? Not just oh there's nothing on the market. I'll tell you what we do inside our organization inside our team and it's three things.

Tom does a show every. I guess two weeks now on facebook, and it's called this week in housing yeah, and that has a lot of great data there from keeping current matters. You don't need all the data, you need three or four data points that you can regurgitate and repeat, and and just memorize that stuff, it's easy yeah, you can talk about millennial, home buyer demand how many millennials are coming to the market what's going on with rates And then the predictions for housing prices - those are typically what people are asking about right now, so that would be one. Secondly, you've got to know what's happening locally um.

We came up with this really cool hack inside our team, where it's called the the change in the market and we like it's an excel spreadsheet and they literally just plug in numbers from like april of last year or until this year, and they see okay well Inventory jumped up 23 since april. So a lot of people don't realize that, even though it doesn't feel like it because of what's going on in the market, so you've got to study your market statistics and just do it once a month and know the numbers yeah. If you really need a cheat sheet put like an index card like inside your like portfolio when you're presenting and just have it right there, if you can't remember them, i mean just just know the numbers and then the third thing we're doing is we're actually talking About the cost of waiting, because some people don't realize that when rates go up, it's going to cost you more to buy the home you're, not building equity in the property, if you're in a rental. So we're looking at the cost of waiting, we're looking at what's happening in the market and then we're also getting some third-party information and keeping current matters mls data, whatever you got to quote the source, because then it's not you saying it.

It's someone, that's saying it from the consumer's perspective: bingo bingo, hey! Maybe you heard it here first, maybe it was just validated second either way. The whole game is upping your confidence and converting more, which means you're, helping more buyers and sellers thanks. So much for being on the show man anytime, you.