Latest / The Complete Agent - The Podcast For Premium Real Estate Agents / 121. Post Mastermind - The Valuation Script That Could Double Your Fee Confidence
Transcript
- speaker-0: Hello and welcome to another episode of the Complete Agent podcast where each week we get together to talk all things estate agency. My name is James Kendall and I'm joined as ever by my favorite TCA friend and colleague, Michelle Smith. Michelle, how the devil, sorry, how has your week been? speaker-1: I've had an amazing week. So we had the mastermind in Manchester this week. So it was full of our glorious members and love Manchester. It's such a vibe. So yeah, I've had a great week, but I know we're going to go into this in the podcast. So I'm not going to give too much away other than to say we've had a great week. speaker-0: Yeah, nice. I'm sure Dave will be with us very, very soon. And I'm sure he's negotiating seven offers, having a great time and valuation is subjective. We've had a pretty good start to the month, three fair. A more signups, a few sales that we're sitting on probably about six or seven now. This month, a few that we're trying to tie up at the moment seems to be going well. Um, you know, not breaking any records. Um, and I think when we went around the room, uh, the other day at the mastermind, I think there's some that are doing okay. There's some that are, I think a lot of people across the country actually are feeling the valuations. think valuations across the country is what, from speaking to agents in that room, speaking to, cause I sometimes have conversations with agents on LinkedIn or messenger, et cetera. People reach out for whatever reason. And, um, I think it's a nationwide issue at the moment. And there's various things you could attribute it to. ⁓ One of the things I think it can be attributed to is this leadership contest that's potentially in the wings that is happening today, the by-elections in Makerfield. I think there's a lot been made of that in the news. it just, again, classic, I spoke to a couple yesterday and There's always something, there's always a Brexit vote, there's an Iran war, there's a Ukraine war, there's a mini budget, there's a budget, there's always something that people sit on their hands for. It's only really that kind of COVID market that we had in 21, 22, where people were like, ⁓ my God, everyone else is moving, so I need to move. all stamp duty, free stamp duty, because that's the other thing is that they are talking about pushing a stamp duty reform. There's been mootings of pressure on Reeves to do something with stamp duty. I think it'd be interesting to see what happens because there, I don't if you've actually followed it at all, but they seem to think originally Burnham would be a shoe in for the area. However, I think it's Advanced UK or whatever they're called. I can't remember what his name is. Yeah, the guy that defected from reform. Is it Rupert? Honestly, Rupert Murdoch. It's not Rupert Murdoch. Definitely not Richard Murdoch. can't remember his name. Anyway, he'll come back to me, it's not important. Him, his advance and reform are, if you look at the pollings, they are literally like second and third and the gap is not very big. So I think there's a lot of people that are sitting on their hands and thinking about what might happen with that. Will there be a stamp duty reform? I think the question on everyone's mind is how many offers is David Warburton actually negotiating this week? Some say seven, some say four, but let's find out. Over to you, Dave. speaker-2: ⁓ right, so yeah, my week has been very, very good. At the start we had the Mastermind. It was great to see everybody. I thought the event went really, really well. And I'm sure we're gonna be unpacking a lot of that. speaker-0: That's my job. speaker-2: Well, I'm just just just stepping in, just making sure. ⁓ and in business, yeah, to be honest, it's really good. It's ⁓ the the same challenges, trying to get deals over the line. and offers are taking longer to to agree. But you know what I'm starting to see now? ⁓ we ⁓ I agreed a sale last night and it's a it's a house I've had for ages. But we I I am starting to see quite a few homeowners get real. ⁓ I think they they've they're finally starting to realise that this market is just not what it once was. And most of the new stock that we're bringing to the market I think is is is coming on at the right price. Most of it. ⁓ you know, a as is always the case, sometimes you you have to get get it out there and and let people go through the motions. ⁓ I think some some homeowners will just want to have seen that their property's gone on at a certain price so they know in their own mind that they have had a go at it. ⁓ so there's still a few a bit a bit of that going on, but the majority are getting realistic. It's it's just good to have that benefit now of of the experience of the market. And there's no question it's not getting any better. It'll it'll probably get a little bit worse before it gets better, unless there's some major economical news that makes things more attractive and and injects a bit more energy into the market. but you know, the latest right move house price index report, you know, says I think think says a lot. Asking prices are now come down, and I think they've come down is it the biggest. June drop in twelve years, was it? speaker-1: Yeah, maybe 9 percent. speaker-2: Yeah, so so I think sellers are starting to realise now that they have to be more realistic with pricing. Mortgage rates came down a little bit, which might you know keep a little bit of confidence in the market. But you know, d the deal I did last night, ⁓ six hundred and seventy thousand on seven hundred, is not bad, obviously, but it's been on the market for some time and they've had a lot lot loads of offers lower than that. ⁓ there's another deal that I'm working on at the moment where the house actually started life at eight hundred and fifty thousand. We're probably going to be tying that up at seven fifty, seven sixty. And ⁓ this particular area has just had a really bad twelve months, you know, and and it's like I said to the the homeowners at the time, who knew? Who knew what was going to happen over the next six to the the six six to twelve months that ⁓ that came after we put the house on the market. You know, they were getting lots of higher valuations, and the number that we thought at the time that they went off on at suited the price per square foot data and all that sort of stuff and market conditions, it just doesn't know. So tougher conversations, but consistent communication is key. been to a few evaluations over the last couple of weeks and ⁓ you know, a few of them on the market already with other agents. And unsurprisingly the the first thing that comes out of the mouth is, Well I've just not heard from the agent. You know, you get that initial spell of flurry of activity and then after that it goes quiet and you just don't hear anything. ⁓ and that's where you can really make a difference, I think, in this market. You can you can mop up a lot of on market stock by telling the truth and keeping in contact with people. I know, I know. Easy So yeah, overall decent. ⁓ I haven't got the numbers to hand, JK, but I think the last time I checked it was seven offers that were negotiated. speaker-0: Who does? Asics. That's great, mate. That's really good to know. I was just saying just before you joined us about the, ⁓ there's always an excuse in the market, you know, the maker field by elections, those kinds of things. There's always a reason for people to sit on their hands. So wherever it's the Iran war, whether it's the Ukraine war, whether it's the mini budget, there's always something, you know, this is impossible. had a chat with a seller yesterday, where we're tying up a deal. And just saying, you know, it's impossible to time the market. It's your time in the market. And if everyone knew when things were going to go up and when they were going to be able to buy low, then, you we'd all be multimillionaires and, you life would be really, really easy, but that's just not the way it is. The other thing is that, um, I track the, um, the swap rates, I think, as you know, um, and they have now for the first time in a little while, I've just dipped below four. Um, so, um, the. sentiment seems to be at the moment, there's a 90 % chance of a hold today because it's the BOE base rate MPC meeting today. Consensus is it will be a hold. And when you think about earlier on in the year, you know, we were talking about when's it going to drop and what's going to happen. Trump happened end of February, early March and swap rates went through the roof. And it's interesting to see how the market will evolve and react with those things that are going to be happening. I was just saying that the evaluation consensus across the country seems to be a lot lower than it has been. And I think that will be symptomatic of people sitting on their hands, waiting to see what happens and adopting that sort of wait and see approach as they always do. But yeah, anyway, let's unpack the mastermind and some of the things we're to talk about. So Michelle, over to you. speaker-1: Well, this Mastermind, we focused very much on a couple of things. So firstly, the kind of figures from the half year. So where are they tracking ⁓ against their key metrics and is that going to get them to where they need to be at end of the year? The other thing we focused on, which was really valuable was ⁓ you guys actually did your pitch to the group and On reflection, that was so powerful. Cause I think when as a estate agent, do you ever get to see anyone else in a front room? You don't unless you're kind of at the beginning of your career. So that was really powerful. And we did some mindset work and we also had Laura from Progressive come and give an overview of kind of pipeline leaks and how to kind of stop them. Cause I know that is a real challenge for people. with their pipeline and getting it out and not losing it really. It's not just getting it out quickly anymore. It's making sure it doesn't fall through. So there was loads going on, but one of the things that I absolutely love when everyone gets together is the collaboration in the community. And I think that above everything else is just the magic part of the TCA masterminds. I know we've started doing a member of the quarter. So at the end of the mastermind, they all have to send me a vote of who they think the member of the quarter is. And it can be for anything like, you know, have they had an amazing result? Are they implementing, you know, what we give them? Have they got a challenge that you can see that they're kind of working through? And honestly, the votes that I've got so far are just amazing. And it's that recognition and support of each other that you just don't get as a business. speaker-0: Okay, Michelle, I'm going to blush. speaker-1: There's no game, James. He can't make peace. speaker-0: I you, I told ⁓ speaker-1: But you don't get recognition as a business owner, you just kind of do what you do and it can be a lonely place and you know, so to have that kind of collaboration and community, think we love and the members love as well. But I just want to go back to the doing your pitch and first of all, it was hilarious because we now know Dave Warburton cannot role play. speaker-0: or Dave Wilberton. speaker-2: Well it's speaker-1: but I think we've got so much out of that. really do that when I've had conversations since they're implementing stuff from that already straight away back into their own pitches and adding value. So what do you think? Well, how did that go for you guys? speaker-2: Yeah, I I mean I I agree. I I think one of the things that's great about the whole setup is the fact that we are doing it every single day. and obviously know how they are feeling, if that makes sense. Yeah. That we're all going through. And I think when it's a lonely place being a business owner out there and and especially you as an estate agent. When you're struggling maybe for leads, you might be struggling to ⁓ get a a a case over the line, you know, from from a sales progression point of view. Cash flow might be tight. You know, I think a few people high fived when Ian said there were cash flow issues sometimes at stories. Yeah. ⁓ you know, it's it's it's good to hear that everybody suffers the same problems every now and again. But there's always a way out and there's always a way to overcome it. So you're right, the first thing for me is is the community's feel because you know I've I've been to if I've attended events ⁓ you know in years gone by and not wanted to. You know, knew knew it was coming up and I was so busy and stressed within my business and I've taken the time and made the effort to go to them and come away completely re energized with new focus. ⁓ and I think it's ⁓ you JK said it a while ago, I think. It it's it's easier to sit in a room and just make notes And from somebody who's talking and and not actually doing it, if that makes sense in the politest possible way. But I think with us with us we we're genuinely doing this day to day. So when when you can sit in a room like that and run through a pitch, and it's listen, it's by no means perfect. Everybody has their own style. ⁓ but it certainly works and has success certain for for me and and obviously Ian did his bit as well. ⁓ and and I think that it's useful for people to be able to Take stuff from that. ⁓ and and it's it's all implementable stuff. And and it's the same a lot of it is the same challenges in the b in the business at the moment. You know, some people are struggling with a lack of instructions because as JK just said, then it's maybe a little bit quieter, people sitting on the hands, people have got sticky stock. You know, what sort of conversations should they be having with their with their homeowners to try and get things moving? ⁓ challenges with sales progression. I mean, that was just a brilliant hour, I think. Yeah, well. speaker-1: So valuable. speaker-2: really, really was. You know, there's a lot of I think you know, myself and Ian we're were taking notes at one side of the room ⁓ through that. You know, the I think there's there's always stuff that you can implement. In fact, Ian on the day, ⁓ I think ⁓ one of the members said ⁓ and I won't name names, but one of the members said, I'm not sure we're ready to get two percent. Do remember? Yeah. ⁓ and we were like, well tell tell us why and talk we talked through it and she said loads of stuff and and all the stuff that she was already doing was so far ahead of of other agents and competitors in her area. They were they're absolutely ready to be two percent. It was a mindset thing. And I think we we said to her like if you if you wait to implement all of these things, you'll you'll never do it 'cause it'll never be perfect. And Ian made a great point. He said, I've I've it's this is our mastermind, we're holding this event. And as as the people that we've had up speaking, you've got you'd yourself, Michelle, ⁓ I did my Patreon law up from Sales Progressor, he'd he'd scribbled a lot of notes and he picked his pad up and he showed this particular member his pad, like three or four pages. He said, There's there's about four pages of stuff that we need to go away as a business and implement. You know, it's never perfect. But I think the the context I think I'm giving is that you're right. the community comes together, you go away with loads of things to implement, easy, actionable steps to take your your business on to the next level. ⁓ so yeah, it was actually it was actually nice to do that. I mean the role play, as you said, went out of the window. but it was it was still good to be able to sort of talk through, you know, what we do and how we do it. speaker-0: I think we should draw maybe some nuggets out of what was there without giving up the whole game away. So there's some value in the podcast. ⁓ one of the things I took away, ⁓ from Laura and it's something that we've been trying to do more of is the whole delay for paperwork in the beginning. So, you know, when you're instructing solicitors, ⁓ you know, don't wait for the memo to be received before your clients instruct the solicitors. So instruct them at the point of instructions. So, you know, get the TA6 and TA10s filled out, get everything ready, because that can save you two, three, four, five weeks. know, people get busy in life and, know, if you're filling it out while you're preparing the marketing, like they've got two, three, four weeks then to make sure everything's there and ready. So that can then speed up the process as well. And also, if there's any potential issues, like Taylor Rose do a sale ready thing. things like 75 quid and the clients, so you know, the clients not committing three, four, five, six, 700 pound upfront, it's 75 quid to get your TA six and TA 10 sorted and ready. So at the point that sales advice is issued, they can click a button and issue the draft contract pack to the other side straight away. And that's a, I mean, whether you've even said it before on a podcast, but I mean, that's a great tip for anyone that wants to spill spilled speed their process up. And move things forward quicker because the longer a transaction goes on, the more likely it is to fall through. The data is ⁓ well behind that. I think Laura said at the moment, as of last week, the average time for a transaction to happen is about 17 weeks. And the longer that goes on, the more likely they are to pull out and buyers are to. And the thing is, as you said, there's more on the market now than it has been for ⁓ well over the last decade, buyers have got choice. There's a lot of noise in the media and the news. There's every opportunity for a buyer to pull out. And what you need to do is ensure that you lock them in, keep communicating, make sure that they are invested. And that was another thing that I took from the process there. know, good sales progression people, Michelle, you'll be testament to this as well, are not just sales progression people, they're relationship managers. And it's all about bringing the people back to, we talk about it on the podcast a lot, bringing them back to their why and how they feel about the house and igniting that emotional spark of commitment to make sure that they're doing what they need to do and they are constantly moving forward. speaker-1: Yeah, I agree. mean, you know, some of the members brought kind of real life scenarios to the table and, we talked through and I think when it is such a buyer's market, you have to keep their kind of focus and why so kind of on point so that you can sense very quickly if that's going off. the other thing which I think would be great to share is because I think a lot of agents were finding that there's definitely more appetite for renegotiation after survey. And one of the things that we talked about was kind of a phrase of how to handle that. So when somebody's come in with a report, a building report, and they've got, you know, lots of reds, for example, there was two key things that I thought were really impactful. Firstly, it was before they even get the report back. it's setting their expectation of what it's going to look like. So you are definitely going to get a red for gas. You're definitely going to get a red for electric because they're not specialists. They haven't seen it. You may also get reds for other things. ⁓ And these aren't, you know, a huge cause for concern. They're just things that maybe you will need to look at now or in the future. So that was one thing. But the second thing was when they're coming back to you, if they are looking to renegotiate, and say they've got six reds. So some mistakes that can be made here can be really costly. So if they say, you know, we're really unhappy and we want all of the reds addressing, a mistake can be, because you've also got to manage your seller's expectations and emotions here, is to go straight back to your seller and just say, right, you know, this is what we've got. They really want these rectifying, et cetera. Another approach is that you say to your buyer, There's quite a lot here. Now, I think the sellers may be open. I'm not sure, but I can certainly have a chat with them. If there was one thing on here that was really important for you to get resolved, which one would it be? So there's two things that happen there. You're automatically trying to set the buyer's expectations that this is not ⁓ a free for all. You know, we're not going for everything. And also there probably will be one or two things on that report that really bother them. ⁓ They may not be so bothered about the other stuff. So it's just making sure that you're setting the expectations and then you can have a much more ⁓ productive chat with the sellers ⁓ about the key things that are really important. Cause you're almost saying, I've saved you these other four points. We're not looking at those now. We're just going to look at this. So yeah, I think those two points can be really helpful. speaker-2: There was I can't remember the exact stat, but I'm sure she said, and you might know better than me, Michelle, but she said, I'm sure, thirty percent or thirty five percent of sales fall not of sales maybe, but the sorry, the reason they fall is 'cause the buyer just changes their mind. speaker-1: Yeah, I think it was 39%. speaker-2: thirty nine I mean that I was I was actually shocked at that. And never really considered it. You know, y a sale falls through and you just you kinda just crack on, don't you? It's usually a survey or in my head it's usually a survey issue or whatever. But to think that nearly forty percent of the well the reason for forty percent of buyers that pull out is just because they change their mind is unbelievable. And I think what you were you talked about then is keeping the contact, keeping the emotional connection to the house. And that's where this falls down massively. I mean, one of the reasons that we had Laura there, you know, because ⁓ communication throughout the entire process is so, so important. I think that ⁓ people will do a great job in the valuation, tell sell their services, they might do a brilliant job with the presentation, put it on the market, it might sell really quick and then they think job's done. And and actually the the biggest hurdles to get over start at the point you act you accept an offer verbally. You know, so how quick are we doing all the ⁓ proof of funds, source of funds, all that sort of stuff. How quick are we getting the contract packs out? Are we chasing them relentlessly? And I think, you know, I've I've had both where I've had sales progression in house and I've outsourced. ⁓ and what whatever you choose, you've just got to have somebody that's on it all the time because it's too easy. It's all about. speaker-1: I think that's stat as well, that if the sale goes through within 12 weeks, the risk of fall through is 20%. But as soon as it goes over 12 weeks, it goes up really steeply to 35 by the end of it. speaker-2: We've we've we've been the beneficiary of one quite recently, and and it's for that reason. So I've I've had another home actually, one of the offers that we've just recently negotiated, JK. ⁓ been on the market for a little while. Great house. ⁓ but the the and we've had a few offers, but the owner's really holding out for top dollar ⁓ to the point where I'm thinking, are we ever gonna get this? We've got very, very close this week, but the people buying it, ⁓ they've had their eye on it before. But they chose a different house around the corner. And anyway, they they they said our ch our chain is ready, our buyer is ready, they've done all the conveyancing process. We've been sat on this house for three months and it and it's nowhere near. The agent acting for them isn't really helpful. The solicitor acting for the seller is dreadful at returning messages. We genuinely don't know where we're up we're up to. So if he will accept our offer, we'll flip onto this property. And and he did eventually accept their offer. The reason that they are pulling out of that sale is because they've no confidence that it'll actually go through because the communication is horrendous. That's the exact reason they gave. And he said th he said that that they prefer the location of the other house. It's a little bit cheaper. There's a bit of work to do on it. It probably suits them better. They've just no confidence that it'll actually go through. So this house is as close as the scene, the one that we've got. and yeah, we've we've sale agreed it in the last two weeks. It's moving forward nicely. speaker-0: you think what we did before WhatsApp, right? Imagine like, I mean, I go back to ⁓ Sandra, bless her, who works with me. She's, she was the biggest pain in the ass ever. When we were selling her house, she was ringing in constantly ⁓ for updates. And obviously the irony in all this is that she ended up being our sales progressor. Cause she was, she was such a lovely pain in the ass. ⁓ But she was tenacious and it's like, you it's that feeling of being out of control when you're trying to, you know, buy or sell a house. And she was trying to assert control by with information. know, this is probably nine years ago now, we did use WhatsApp to communicate with clients. So everything was on the phone and, we were doing back then, we were doing 270 transactions a year, which is ludicrous. Really, you think, you know, I think I said on a podcast before the whole 1800 pound plus VAT and 270 odd transactions a year. Like, you know, honestly, it's just relentless. You just can't keep clients serviced and up to date with that sort of volume and level, that fee level. So, you know, having WhatsApp available for buyers and for sellers and just being able to keep those comms channels open and. Cause you can have six conversations, seven conversations at once without having to pick up the phone physically. You know, you can type, ⁓ you know, can put holding messages in this, you know, we, use WhatsApp to deliver so much in the business, you know, when it comes to offers and, know, sort of conversations that need to quote you, Dave tone of voice, then, know, we don't use WhatsApp. We stay away from it, but You know, for general day to day information, ⁓ by the way, your solicitor just issued the draft contract to the other side. Your buyers have applied for searches. Your buyer is ⁓ constant information. Our SLA is once a week communication minimum. So, you know, there's always something happening. And like you said, Dave, you know, we see it so often where, and we've, been the benefactor of that as well, where people buy another house for another agent. And what's also interesting as well, because the communication's so bad. We've sold a house to somebody that's pulled out of another house. And I've seen that house still sold STC online for another six, seven, eight, nine weeks. Um, because no one's actually thought to, you know, speak to that seller and say, Oh, by the way, your buyer's pulled out. if the agent was on it, I mean, then what happens is, that, you know, it's the classic 1 % and below argument, isn't it? Where a lot of this happens and. The solicitor will then message their client and go, by the way, you buy a port out six weeks ago. And the agent will go, ⁓ did they? No one told us. And it's like, well, that's your job. so just on the sales progression side of things, I think, you know, there's a huge amount of value there. Again, don't want to give the game away too much on the valuation process, but, you know, it's always nice to hear somebody else's pitches, isn't it? And I think for me, like we all do things very, very similarly, but also very different in some ways as well. and I always find that when I, don't know what it is about you, Dave, but whenever I listen to you talk, like I feel like I'm locked in. speaker-1: Yeah. I love you said that. I love you said that because I think when we started that section of the mastermind, ⁓ there was a quote on the presentation. said, people don't remember what you say. They remember how you made them feel. I asked specifically for the members not to take notes because we recorded it. It's going on our online membership portal anyway, so they can rewatch the video. ⁓ But I didn't want them to take notes because I wanted them to feel what a seller would feel because it's really important because they're not going to go into their clients' front rooms and be a second rate JK or a second rate Dave or a second rate Ian. They're going to be a first class then. So it can't be that they copy the words, but what the real key thing to get across is how are they being made to feel? ⁓ What is the language doing? that allows them to have an emotional response or not so much as an emotional response when it comes to kind of price and things like that. So I'm really glad you said that because I think that actually was what underpinned the value of that. speaker-0: I think the thing is like, I guess we've all got our own styles, right? But, you know, for me, listening to it on the outside, looking in, one, the overall thing was expertise for me. I felt like I was listening to someone that was an expert in what they were doing. But also there was no over promising. There is no, can't do this, I can't do that. You know, this is the way that I think it felt having observed it. ⁓ is, you know, we're in this together. I am an expert. I'm going to try and get you to the best possible result, whatever that is. ⁓ but you, you say you're an expert without saying you're an expert. If that makes sense, you show them, you don't tell them and people are making their mind up about, know, and then the language that I know, my opinion that you use is world-class when you speak to people. And I think people really kind of, you know, even me, like bearing in mind, this is a role play. and we're sat in Manchester boardroom. speaker-1: because he went up peace constantly. anyway, Carrie. speaker-0: But I was fully invested. Like even though I know what he does, I was fully invested and I was like, I wonder if I sound like that when I'm doing it. speaker-2: It's nice of you say that, JK. Thank you, mate. It is. And I I I mean, I I think you've you're quite right. I think it's about how you make the seller feel. ⁓ and and as I've said many, many times before, about things like data, which can data can be really boring, and especially if you you're not into it and you don't like spreadsheets and all that sort stuff. ⁓ it's more about how it comes across. And I always think that the person that you are speaking to wants to know that you are the expert and you know what you're talking about. So it's just articulating it and delivering it in a way that they understand. And they also understand why you're telling them. ⁓ and if you remember at the start, you know, I think we we originally were gonna maybe start at that bit, ⁓ how we deliver it, but I really like to make a point to everybody in the room that it it it it it does start way before that, because it's it's that feeling that is most important. So as I've said, I I spend a lot of time getting into the detail of that. particular seller, what what is it that you are trying to achieve? Let's park your house for a moment. We'll come back to that in a second. and to to really understand where what they want to do. Now the majority of people are moving to another house. So what what is that house? What does it look like? Where is it? and what does it need to have? What could you do without? What would you potentially add on? What's the budget? All this sort of stuff. ⁓ and obviously this is where the role play went shit because you speaker-0: Thank speaker-2: You you kind of try i you you want to ask questions and they're not real answers and I and it so I w I wouldn't have felt it as much. That's what the point I was trying to make. ⁓ and y w it would lead into other things like the kids' names and all right, what university did they go to, what did they study? ⁓ you know, ⁓ they might have a pet, you know, all that sort of stuff. And it seems silly because you're there to value the house. But the reality is all of this fuels their move. All of it fuels their move. And you need to keep realigning it and coming back to that point. So you're not just saying that by following our 16 step plan or if you by following our pricing strategy, we'll get you sold. You know, it's more, you know, if we get you if we if we go on at that price, John, it's it risks stagnating. And these are the stats from Right Move that tell us that. people who overprice spend a more prolonged period of time on the market, it takes longer to sell. But if we're gonna get you to Jersey and you're gonna see be near your your your gr your mother so that you she can see out the rest of the days near the grandchildren and all that sort of stuff. Honestly John, I think we need to be more aligned at this kind of level and these are the reasons why. And you're always bringing it back to that point. But it's not it's not salesy. Like I said to everybody in the room, we we did we did closing pitches and all sorts. it's not Wolf of Wall Street. Is it it's more getting to know your client, telling them the truth and educating them on the market ⁓ and being completely honest with them. You know, y you you you cannot you can't guarantee a result, can you hell? You know, you can't I had a conversation with a client in in recent weeks who's tried to give us a ⁓ a fee structure based on the selling price. And the the the numbers that he came out with were really attractive on paper, like yeah, sounds good. If the numbers that the house would sell at were realistic. Yeah. You know, and and the word I actually said to him, you know, with with all due respect, you could offer me 10% of 10 million. I'm never gonna get it. It's never gonna happen. We've got to be realistic here. I can't control that outcome. But what I can control is how we get you to the outcome and at the realistic level for the market conditions. So it's it's just about I think, I think, being honest, ⁓ completely honest, giving them we always say It gives them all the information so that they can make an informed decision. Not not me telling you what I think it's worth and not you telling me what you need to achieve in terms of the the financial outcome. It's worth what the market suggests it's worth. ⁓ and the the other thing, just going back to the sort of making them feel how they make them feel and getting all that information up front, the s the sale price is not always sorry, their their sale price is actually not always what they need. And once you understand their why at the start, you can go back to that and say, Right, you're telling me you need nine hundred, but based on everything you've told me, I I'm not actually convinced that you do. This is why. And then we can talk ⁓ through that sort of stuff as well. So, you know, it's I think some some agents will be very samey, take a best price guide out, look at some different comparables, tell them all about themselves and how they can sell the house, and forget the homeowner. And and it's ⁓ it's all about them at the end of the day. And they need to know that they're in safe hands, good hands, hence the education process around data, the market conditions and and how you can actually help them move. Yeah. speaker-1: Yeah, it was. think, I think it was really powerful. We've had great feedback since. And what I do like is some of the members, they'll bring their other valuers with them. So, you know, I think there are different types of members that we've got, haven't we? We've got kind of the one woman, one man bands, ⁓ up to multi-office operations and everybody's in a different place. So some people have. absolutely jumped forward with the business and they're looking for, you know, those small tweaks. Some people are in the absolute messy middle ⁓ and there's loads of changes going on and some people are right at the start of the journey. So they're kind of implementing best practice straight away. So I think it was nice because there was feedback across the board that it was helpful. So I think it definitely was ⁓ a ⁓ major value add. speaker-2: The other thing for me as well, when we did it the ⁓ obviously we did the the business review, so I'm going back to a little bit here, but ⁓ when we did the breakout sessions, so we got everybody into four or five groups of four or five and then and obviously we we went and hosted with a few of the groups. ⁓ and what what I found really interesting and actually really nice is that people people did have struggles, but they were so solvable. Yeah. You know We w we were d it's certainly in my group there was some th there was there was five of us, and we had five different issues and they were all solvable. And not just solvable by sort of myself or you or JK, Ian, whoever coming along and saying, This is what you've got to do. It was also like other people within that group, you know, that community being able to say, ⁓ no, no, wow, I've had that recently and you know, this is how you can do it and then both all going away energized. You know, a couple of people thinking they they can't do video because it has to be ⁓ this full cinematic production when actually we've shown them another way where they can really, really mi add well add value to their client, add value to their business and social media following and things like that that will make them much more comfortable doing it. And I think there's a couple of people that I'll be keeping an eye on over the next quarter that I think will really do it and and transform their self confidence and their business by doing it. So it was just nice to have that time with them and to see I think see them go away energized with new ideas and and and problems almost solved. So if any of this is resonating with you and you want to have a chat with us about ⁓ attending the next mastermind and jumping on board, feel free to give myself, Michelle, JK or Ian a call, drop us a message at the Complete Agent ⁓ and we'll tell you what it's all about. speaker-0: quote reference seven sales for Dave for a discount. Right. See you soon. speaker-2: Yeah.