today's headlines are doing more to terrify your past clients your friends your current buyers your future buyers and sellers and today on the confidence conversion show we want to solve that to help us do it i brought in coach david caldwell now you might know him as coach i know him as coach broker owner active agent team leader out of portland oregon gonna sell 140 plus properties this year he has devised a strategy that his business his team and so many of our coaching clients are using to break through the noise serve our clients and be the agent of choice in the marketplace david thank you so much for joining us today how are you my friend i'm great thanks for having me yes so david i want to just go right into the home equity review strategy what are your thoughts so first though am i am i correct that consumers are getting nervous right now and agents being out of communication probably isn't solving the problem yeah absolutely i think you know i texted you the other day i said um has home affordability ever crashed a real estate market i think that's what my text was yeah right and it hasn't no yet everyone thinks it's going to and most agents you know my belief is that every agent at every level underperforms their potential because they don't have enough conversations about the real estate market specifically yes yes you know we could just stop the show right there and just say if everyone just had more conversations with their past clients and their sphere about the truth the data points of the market good bad right or wrong up down days on market longer shorter prices up or down appreciation not as much whatever it may be whoever's the educator is the calming voice is the one that the customer is always going to remember it becomes you you become my true trusted advisor so you you crafted this strategy what was the initial like what was the genesis for it like why this versus anything else and then let's share the strategy so every person listening you right now can do the same thing and get the same results so so this as a coach this is operationalizing your 100 appointment challenge you always give us yes because everyone agrees to it but then people don't do it because they get stuck because they don't know who to do it to yes and i believe as a coach and everyone i coach i know this to be a fact is everyone knows a hundred homeowners in their local marketplace so this is just operationalizing an annual conversation about the housing market and being what you just said is being the advisor you know when everybody knows eight real estate agents you choose the advisor you don't choose your friend you choose the one that's educating you and you choose the most competent and it's just it was operationalizing that challenge you gave us every year as a coach and the hard part about it is getting people to be disciplined enough to do an appointment that really the desired result is building a relationship over time and or earning a referral yes so walk them through the strategy there's the how you offer it there's how you deliver it and what you do while you're there delivery and then what do they do afterwards yeah so the the setting the appointment if we focus on past client soi right high probability 68 of sellers are finding their agent because their past client or referral from someone that we know right so if we start with that consumer it's a simple conversation about hey tom one of the things that we're doing for all of our clients right now is sitting down at your dinner table on your couch having a conversation about the real estate you own and where we believe the market is headed and this isn't a sales pitch it's just like the appointment that you do annually with your financial advisor where you sit down have a conversation about your goals and what's happening love it love it so that's a very i mean like you said that so naturally i'm assuming you've said that a few times said it a few times it's it's really our core offering now because you know in a world where some people are saying it's not okay to be a salesperson it's still okay to be an advisor right and i'm just trying to position myself as the real estate advisor so when you're thinking about the other realtors that you know that you're gonna choose me because i'm better yeah yeah so all right so you you have that offer and and what is the most typical no feedback what is the most typical sure feedback the most common objection is well why would i need to do that i know what my home's worth because zillow says it's worth x yeah and as a industry right now we have an opportunity to reject automated valuations because zillow lost 880 million dollars on zillow offers yeah pause pause let him sit on that yeah you know don't automate the conversation around home value we should be having it and we have the opportunity to have it and to to give ourselves more in an advisory role because of that failure right we all know that algorithm algorithmic values don't work but how many agents are sending those to their clients on a weekly or monthly basis right you know and then talking crap about it you know in the next appointment when someone says this is what my home's worth right so you know this is that's the most common objection and when you say hey zillow lost 880 million dollars on zillow offers you'll get your appointment yeah yeah because of their automated valuations right the algorithm was off okay so so do you want to be face to face is this zoom like what have you found like there's a better approach for people you're always gonna get further voice to voice or face to face yeah i'll have the conversation any way you'll allow me to do it yeah but i look at this as this is cma day on steroids right like cma day is here's the information here's a video please have a conversation with me yeah this is let's have a conversation yeah you know that's and that's what real advisory is yes um on my team plus coaching calls a lot when people are i love video you know i love video but when people want to do everything through video i usually tell people you know what i'm going to do i'm going to record our next coaching call i'm just going to send it to you guys oh yeah that's good they're like no no i need the interaction you're like exactly yeah i need you to ask questions yes yeah smart and you know it doesn't take a lot to go sit down with someone for 30 minutes or an hour you know one per week to build rapport and to establish yourself as their trusted advisor so i'm going to make an argument before you talk about the actual face to face and i know you have five or six questions that i just i loved i've shared them now with you know thousands of people and for the person listening you're gonna want to write down these six questions because they are on point and money um i do want to stress the person listening if you're sitting here right now and you're a little in your head and you're like what's the most important action i could take i would make the argument that doing three of these a day i know that sounds like a lot of work but this is a work ethic market three of these a day 30 minutes in and out boom boom you're going to create so much momentum so much positivity so much personal and inner confidence that you're going to want to go out and do all the other things you have to do to find more listings but in the meantime you're serving your most important customers you're loving on the people that matter most to you the people that have paved the way for your business over the last decade or so so i'm just gonna make that statement you say once a week i'm like if you know what to do right now i'd be doing two or three of these every single day so david you get together with face to face you i'm assuming you brought a cma with them you know you're talking about here's what's going on the market give us get like talking points like what do you show them before you go into the six questions so so talking points i talk about 12 24 and 36 month appreciation and the reason i do that is to demonstrate how different the market is and if we use portland as an example 2019 one and a half percent appreciation 2020 8.5 15.6 right and i'm painting a picture that not every market is the same right and then you can go macro to micro that's portland i might take it down to their zip code might take it down to their subdivision but all i'm doing is painting a picture of how the real estate market changes yeah right beautiful and then talking to them about what i believe is going to happen based on the information that we have so a lot of people think right now that values are going to decline because of where rates are well in portland we've seen 26 years of appreciation in the past 30 years and we all know why those four years of the market declined we didn't have to talk about that right that mark is different than this market but in that 30-year in that 30-year history if we go google all the horrible things that have happened you would think there'd be many years values have declined and they haven't so what we're probably moving into right is a slower year slower years of appreciation right more historically stable so i talked to them about outlook right so here's how markets vary here's outlook you know here's what's been happening in your specific neighborhood you know neighborhoods they don't all appreciate the same rate my neighborhood probably didn't appreciate for two or three years you know it was just pretty stable underperformed the market during covid it went crazy we got great appreciation odds are it will start underperforming again because of where it's at you know geographic location so that might create a good opportunity for someone to move so it's pointing out those little things again to separate myself as an expert i give them a value range the reason i give a value range is an appraiser doesn't give you value until they see your house i'm not going to give you a value until i see your house i'm going to validate what i do i'm not just going to like push it off and take a guess yeah um i'll go do more research if they want a specific value yeah but really i'm just taking neighborhood comps and i think it's important to give people things that are physical i tell this story a lot about my louis vuitton wallet right like you go go to louis vuitton you buy a wallet it's in a little box this big and they put in a huge bag they want everyone to see it now where's everyone's louis vuitton bag it's in their closet right can we create marketing pieces like that louis vuitton bag that people don't want to get rid of if they don't want to get rid of your marketing materials you are always going to be on their consideration set right so if you create great marketing pieces that you're leaving with them or great analysis of the market they'll keep it right and that's just one more way that they're going to consider you forever so are you packaging this like in a you know tom and kathy fairy one two three four banana street book or how how are you delivering that so it becomes that coffee table piece or that piece that they keep around the house so when someone says i heard this about the market they're like wow well here's what my agent did yeah so you know i'll see if on my really messy desk i'll see if i have some things like if i'm just winging it i have like we have these nice just folders hillshire folders yep um we have these brochures where these are all photos of our listings which i make sure i tell people like this is how we present right but the paper is nice it's glossy when we make the cma it goes in a nice book i'm sorry i don't have one to show you but we all know what those look like right yeah the hard bound covers that's simple but people keep that right especially in oregon right people don't want to throw things away like maybe they'll recycle it but but people keep those items and in fact on coaching calls i brought that up to people and they've pulled out cmas that like agents did for them before they're real estate agents sure sure that that's an opinion that's a statement of fact people keep that step what do we do with an email we delete it or we lose it yeah so so now that we've got yeah we got the offer we got the objection we got the handler we got the how you show up and how you educate them and i love the like three years 24 months you know last 12 months right to really show people the hyper local numbers you can also put in home price appreciation index surveys and show where things are going then there's you know what you see on a local level because that's always national what are the six questions that you ask and what's the impact of them so well first i'm going to let you ask me any questions you have yes i want to create reciprocity yes if you ask me questions that i answer i get to ask you questions and you're going gonna answer yes um one of my favorite questions is hey tom do you foresee any life changes in the next three to five years that would make you a home seller say it to me again tom do you foresee any life changes in the next three to five years that would make you a home seller yes always i'm always a seller yes okay so i love that question how do people typically respond like is because that feels like it could be salesy but it's truly i i know the intention is consultation yeah it's a pipeline building question like we talked about it at blueprint um people either say yes or no yeah right i mean that's what it's but more people say yes because most people stay in a house for close to 10 years right yeah my kids are going to be graduating yeah we've been thinking about downsizing yeah we're going to move to arizona you know you you get a lot of yeses because people plan right like another thing about this appointment is when does a seller call us they call us 90 days to 60 days out from selling if we're lucky right this this is about seating years in advance yes but i'm going to list your home when you're ready right right so this is about positioning that person in our database with a tag that says maybe they're a probable seller in 2025 right um so we know who to follow up with and how consistently you get a lot of yeses um yes hey tom what's your next home look like yeah oh blah blah blah blah blah blah blah right and and everybody's got their dream their you know they've been on zillow redfin whatever else so got it yeah sometimes lost that question exactly like hey when you stay up at night looking for your dream home what's that home look like right what's your mortgage rate that's been a question i've been asking so if i can save someone money and do something for nothing you know that's incredibly helpful um do they have any large home repairs coming up and have any questions about maybe how that would impact value yeah love that so so they're they're just advisory questions i'm not trying to get an appointment i am just trying to see where they're at with their real estate you know as follow questions from you know kind of the market pitch before um the most important question is hey tom do you know anyone who's thinking about buying or selling real estate in 2022 that would benefit from this sort of conversation see i love that because you've done you've literally educated demonstrated value took the time to have them ask you questions you're asking some advisory questions give us the question one more time david hey tom do you know anyone who's thinking about buying or selling in 2022 that would benefit from this sort of consultation and actually i left one part of it out if so would you mind connecting us in a text message yeah so you got to tell them how to connect you and don't do it via email don't give me their card connect us in a text message then we know what happened right right exactly and and how often i mean you know doing this as many times you've done it now with your clients doing it you're doing a whole thing on this the summit on this how often are you seeing uh that yes i have somebody everyone has somebody it's just when are they going to have them yeah right and and how are you going to see it and follow up to get the referral you know the the question i've been asking my coaching clients that have some of these larger teams is you know if your team went on a thousand of these next year what would your lead generation budget have to be oh my goodness right what's the problem what's the probable outcome right and again the challenge is getting people to put the list together which we'll talk about summit you know how to organize going on the appointments and just committing to the activity because the referral is going to come on some timeline if we do it correctly because everyone knows someone who's going to sell 68 of sellers are coming that way so i've been a little bit resistant to say hey go on this many appointments and get this result because i know if you go on the appointment you're going to get the results right i know if you go on you know i had an agent on my team who was months before she got her for sale like almost eight months and i kept telling her just follow up just keep doing what you're supposed to do i promise it's just five deals in escrow right now right they just came on the back side of our hopeful timeline but that's okay because she's gonna have a great month you know next month and hopefully you know for years to come what i love about this and so uh respect about the work you're doing ins you know with your clients your own team and inside of our you know ecosystem is again headlines are terrifying people right now even uh jerome powell just came out and said buyers might want to reconsider like i'm kind of paraphrasing you know what he said or i think it was like uh consider a reset and and no he of course he's right you have to reset your expectations interest rates are higher it's more about the payment now you know there's more inventory like you know but people read that and all they hear is no one's buying and selling real estate we're going back to 2789 so what i love about this is you're truly being the consultant that you care about your clients enough to have these face-to-face meetings and for everybody listening i charge you i challenge you from the day you listen to the end of this year could you do 100 of these and like david said what if you went on 100 what would be the worst case scenario 35 referrals there's no worst case scenario right i mean right these appointments now here now here's where you can you could not do the face-to-face you could not make the phone call and then you won't get the results right we can just send cmas to our farm and we could get a little bit of a result but if you actually go consult and advise and part of part of the reason i did this was we had a buyer consult in my office one day and the guy was like well i need to talk to my financial advisor and i was thinking i make more than his financial advisor you know like how it pissed me off i want people to think of me like they think of their financial advisor when you talk when people talk about their financial advisors it's like a flex they're like brushing off their shoulder right and then for some reason we get lumped in with like the car salesman but that's not who we are right at least not the great ones right like i think of tim smith like your client i use him as an example a lot with my clients i mean i don't know him but i know he does advisory at a really high level yes he does right like that's got to be his game he does advisory at a super high level yes he does yes he does and that's why he's winning and and that's why the person you right now watching this or listening is you're going to win as well so david as we wrap this up thank you so much for sharing i can't wait to see you next i know i'll see you live at the summit on stage delivering more and more of these strategies thank you for helping people raise the bar on their confidence and conversion and for my friend out there watching who might you need to share this with and if you haven't liked subscribed into that notification button make sure you do so and get into action we'll see you guys soon you.