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May 2, 2021

The Monopoly Analogy: Real Estate Skills vs Geography

PowerfactThe key to success in ANY field is about building a relationship with people and helping them get to their next level.  

By Darryl Davis, CSP 

Whether you are a new real estate agent or a seasoned pro, expanding or moving into a new farm area can be daunting. Recently, one of our Power Agents® asked me for advice: “How do I professionally respond to a potential client when they ask if I have sold anything in their area before when I haven’t?” 

The Monopoly Analogy 

This is what I tell homeowners: “It doesn’t matter whether I sold something in this particular area, because the rules for listing and selling real estate are the same, regardless of what market you’re in. It’s a little like Monopoly! Whether I’m playing the game here on the beach, or hop on a plane to Hawaii and play it on the beach – the rules for playing Monopoly are the same in any state!  The same is true about listing and selling real estate. Mr. and Mrs. Hunna Hunna, the thing to focus on when hiring an agent is how skilled they are at marketing, promotion, and selling real estate.” 

Why Location Doesn’t Matter 

It’s boils down to skills. An attorney who is excellent at litigation in consumer fraud will still be excellent if he decides to shift from litigating malpractice suits because it isn’t about WHAT he is litigating, it’s because he is excellent at litigation itself. 

My son, Michael, had a job conducting phone sales for health insurance when he lived in Florida. He was their top salesperson when he left and came back to New York. He recently got a job doing business loans. His first two weeks were spent learning the ropes, but he was the top salesperson this last month.  Health insurance isn’t anything like business loans, but he excels at both, and this is why: In sales, the key is to build relationships with people to find out what their challenges are and what their committed to, and then see how your product might be able to solve that challenge or help them achieve that commitment. 

When it comes to answering the location question for your potential sellers, focus on showcasing your skills and ability to market and sell property, and the “where” will no longer matter.  


 

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