In our business, we can be absolutely correct in our evaluations and never earn a dime because we never get hired. See, you must get hired to have the chance to earn money. You could be the smartest real estate broker to ever lace up a pair of wingtips, but if you don’t understand what the seller is really looking for, you will never get hired.
I had this conversation yesterday with a guy. I ask him, “if he was working for a company and it was his job to hire the broker, what is his number one objective?” There are many answers that come to mind, but in the end, his number one objective is to keep his job. He keeps his job by making safe decisions.
So, let’s say this same employee has three equally qualified firms that have made proposals, which one will he hire? The one who had the best analysis or the one who gave him the highest value? Answer, ding, ding , ding – is the one with the highest value.
Now, to retain credibility in this process we always give a range (from conservative to aggressive) along with an asking price that is higher than both. I figure if we miss on all three valuations, we shouldn’t get hired anyway and get sent to our room without dinner. Ha
So, in hotel sales like much of life, the real insight comes when we understand what the other person really wants. If you can understand that, be ok with that, you will go far in life and in business. So, in our company I tell my brokers, you can be right, or you can be hired. I believe if you really think it through, you can get both. KT