Metaphors and Real Estate
Metaphors and real estate, Oh Boy is there some content on this front. Oh man, I know everyone gets tired of a metaphor, there’s a metaphor for just about everything under the sun. But bear with me for just a quick moment. We’re going to talk about metaphors.
The Chef Example
In a previous email, I talked about the example of a top chef or one of the chef cooking shows where real estate agents are kind of like one of those chefs on the cooking show. On the cooking shows, they get 2, 3, 4 chefs, and they get a basket of all the same ingredients, and they’re working in the same kitchen with the same tools, the same pots, the same stoves, the same ovens, access to all the same stuff, and you get three or four vastly different outcomes. Real estate agents are that way. Yes, we all have the same MLS and the same social media and the same access to the internet, but so many of us really and truly can just come back with vastly different outcomes. And these outcomes produce success in vastly different ways. Some with a quick orderly sale, others with a slew of open houses and price reductions leading to a protracted process. This protracted process is something I am sure a seller would prefer to avoid.
The Fashion Week Example
So you have the chef analogy in there, and I was actually borrowing this analogy from the folks at Iman News, but there’s also there’s a great analogy for open houses because a lot of clients don’t believe in open houses and for a period of time real estate maybe lost the value of an open house. But I liken the open house to being very important to the sale process of a home. If you think of the fashion industry, what people are trying to do is they’re trying to parade a new look or a new fashion during Fashion Week. So then the product ends up getting bought and ends up in the retail store, the department store, whoever’s buying the product. If you think of your open house as Fashion Week, you get a bunch of brokers coming into the broker open house. Every broker has one or two buyers, and these days we all have three or four or five buyers for the same property, you’re getting an exponential boost from the broker open house. In a way, this is very similar to fashion week.
The Open House Tie-In
So, in the open house, you’re getting the same thing. You’re giving your house up for two hours and I know it takes a good bit of time to get your house ready and clean and then you have to leave, but if you have a successfully marketed open house and you’re going to get 10, 15 groups through the house or more depending on your price point, all of a sudden you really just expanded the home’s exposure, it’s like Fashion Week for your house. And so I love the use of metaphors because sometimes they help people understand what it is that we do here in real estate.
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Other blog posts of interest:
Getting Divorced | Understanding Home Valuation Methods