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Going, Going, Gone! How the Flea Market Analogy Wins Buyers
Simple analogies and metaphors can turn potential client hesitation into action, showcasing the transformative power of storytelling in real estate.
We love metaphors and analogies here in the POWER Program®, so when we hear of some of the brilliant analogies that our POWER AGENTS® come up with during their conversations with potential clients, we just have to share!
The Situation
One of our POWER AGENTS® Tyler Stoltz told us of an analogy he came up with recently. He was at his open house and started talking to a young couple that came through. He was focused on relating to them to build rapport. Easily done – they both had kids, dogs, and were in a similar sized home, so it was going well! This couple really loved the house, and everything seemed to line up: their credit score was great, the house had the amenities they wanted, but then came the hitch. They were still bound to their lease with their apartment complex. They turned around to leave the house, praising this POWER AGENT® and his skills, saying they had only just started looking around, and wanted to continue window shopping while waiting for their lease to be up.
He really felt for this couple, knowing how much they loved the house, but still wanted to consider all their options. He said this:
“I’m the same way. I love to look at all the options and figure out the best deal, but here’s the thing…THE best deal isn’t always YOUR best deal. Waiting until your lease is up may not be your best deal after all, but what’s best for you and your family might actually mean that now might be a better time. You think you are window shopping, but window shopping is for big box stores, strip malls, and places that tend to have all the same merchandise. Real estate is more like a flea market. What you see is what you get, and when it’s gone, there probably won’t be another one like it any time soon. So, if you believe this home is perfect for you, and you love it, you need to know that it’s not going to be here next month. It might not even be here next week. What you see in January isn’t going to be around in February, the whole market will be different. If you love it, you need to lock it in. Go with your heart.”
We loved the flea market analogy!
Think about the difference. When you go to a Macy’s, they have lots of great stock. You see a necklace that you like, but oof, it’s a little expensive, so you wait for it to go on sale. If it sells, it’s no big deal because Macy’s will order another to replace the stock that sold. You never have to worry about missing out because they will always have one whenever you are ready to buy.
Flea markets are the complete opposite. Everything is unique (and sometimes a little weird), but the one thing that everyone is sure of is that if you don’t buy it when you see it, it’s not going to be there the next time you go. Will there be other homes available? Yes! Will your buyers find one they like? Hopefully, but the point is, they won’t find THAT house. When you have a buyer who really loves a house but is still thinking about it, the flea market analogy can help spur them into action.
Related reading: Using Metaphors and Analogies to Connect With Your Sellers
Related reading: TeacherVision – Metaphors and Analogies
The Results
This POWER AGENT’S® analogy was so effective that the couple stayed to continue talking. He explained that while they were trying to wait until April, they were also losing money by paying rent rather than a mortgage, which becomes an investment in themselves rather than being pocketed by someone else. They talked about lease options, and the couple quickly realized they had never read the terms of their lease. For all they knew, the landlord might say “no problem” and help them pack!
In the end, the couple decided to take the plunge and are moving forward on purchasing their first home! There is power in using metaphors and analogies, and growing your skills in creating these on the spot brings you that much closer to helping your next clients get the home they love.
Related reading: The F.O.R.M. Acronym: How to Create Analogies On The Spot
Now, the question is – will YOU take the power of metaphors and analogies with YOU on your next open house, listing or buyer presentation? You should! POWER AGENTS – head to your classroom and look for the Objection Handling Arsenal for a powerful THREE HOUR audio training and workbook on the power of using metaphors and analogies to handle the top objections in our industry!
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