Timing and Motivation Client Immutable laws

Today I had what I would expect is a common challenge most business owners in real estate fact often, that challenge was the matter of timing. We have all heard the phrase “timing is everything” and I would agree that timing is the most important business force surmounting any other.

The client that I had a booked meeting with, albeit several days ago by the team – which in today’s faced paced real estate market might as well have been a lifetime ago …. had already bought a house. Now, this could result in frustration, anger, resentment, or many other colorful emotions and expletive language to go along with it! (the mental battle was touch and go for a few minutes there)

A better tactic is to ask yourself “self…what am I meant to LEARN from this experience?” Which was what I did to analyze the chain of events that lead to the outcome I didn’t want because if you constantly focus on what you don’t want you tend to get more of that.

Looking back through the booking process, sending the calendar invite (not accepted but that’s common), sending the zoom invite, text message the invite to be sure they got it, then as is my custom – the phone call 15-30 minutes beforehand to confirm they have it all and will by by the computer and not driving or walking the dog so I can garner their full attention to the meeting. I did not see many improvements that could be made in the system, other than calling the day before on a holiday weekend to ensure the meeting time still works.

Then I thought a bit harder, and I was reminded of the fundamental truths of sales: it could have just been the timing or motivation of the prospect. In this case the motivation was there clearly – just not the timing of our sales presentation. That is something that no salesperson or staff member can change. If someone does not have the problem your product solves or they have said problem and are unmotivated to solve it, you could have the cure for cancer and they will not pay attention let alone pay for that product or service!

Whether your business is in real estate investing, rocket ship repair, forestry, or IT timing and motivation is something you need to explore/ nail down/work within or you will have a real task on your hands wasting cycles attempting to convert those who are not in the end of the buying journey.

Thinking of investing in real estate in Calgary or other markets in Canada? Contact our team to book a discovery call to find out how building wealth for 3 generations could be easier than you think.

To your success,

Tim Reid

-Respect The Hustle

Calgary Real Estate Market Heating up?

The Calgary Real Estate market for buyers, sellers, investors is certainly a strange place over the last couple months. Everyone thought that after all the deferrals were done there would be a flood of foreclosures. Are they still waiting in the wings? Could be, but the low inventory situation that we find Calgary in right now has created an atypical surge in sales.

Low interest rates and much higher than average savings in Canadian bank accounts due to pandemic lock downs have allowed many families to inadvertently save up a down payment! Now, not all sectors of real estate in Calgary are moving fast:

  1. Luxury homes are slow moving over 1.5M in most areas of Calgary – some areas of aspen have seen motivated sellers drop prices 100’s of thousands of dollars to get the homes sold
  2. Condo market for apartment style homes in the inner city has been a slow mover, with inventory here being far higher than demand.
  3. Older un-renovated homes under 1000sft which are normally sold to developers are slow to move because spec-home developers are being very cautious on their purchase prices for lots.

Single family and semi-detached homes are moving quick, also demand for half-duplexes with no condo fees has skyrocketed due in part for the buyer now seeing the possibility of adding a basement suite for having that extra revenue. I had a younger client recently tell me that that type of property would be great for his first home so that he could rent out the 2 suites when he decides to upgrade – what a smart young man! I wish I was thinking in those terms when I was younger, things would be very different now if that were the case.

We are seeing CS properties before I can get clients in to view them, properties going 50K over list price, and even private deals which we specialize in normally not having as much competition…we got outbid by a neighbor for a private seller of a lot I was working on selling to a builder contact of ours! Ouch – losing out on a private deal in a great location is not normal operating mechanics for Calgary real estate.

The stats won’t support this opinion, but I am seeing a balanced market at the moment in Calgary and if we don’t see a volume of inventory hit the market by spring when it gets warm and everyone wants to move….then we could have a seller’s market on our hands.

What do you do in a sellers market VS a buyers market? Good question – contact us and we are thrilled to help advise/answer questions on what could be the best strategy for your goals.

To your success,

Tim Reid

-Respect the hustle