Casey Lewis is a consultant, helping people get out of debt. Additionally, he is a real estate agent. This episode shows his perspective on value in those areas.
What is the most important thing you can share about pricing?
- If you can't help solve a problem or add value, it is OK to walk away from a sale.
- Sometimes the best way to serve a customer is to not serve them.
How does pricing work in residential real estate?
- Real estate agents can charge the percentage they choose between the real estate brokerage and the buyer, so there is an opportunity to add value.
- Pick your own commission rate (8-9%) by enticing the buyer's agent to show your house over the other houses.
- Price is one of the biggest parts of a real estate transaction.
How does marketing affect the real estate price?
- The real estate agent is responsible for helping set the price marketing. The seller is responsible for the condition of the house.
- Condition and marketing are the other two parts and you can increase price based on those things.
- You can add value by taking pictures with a professional photographer.
- Under promise and over deliver is a general rule of thumb that can apply to all businesses.
- Coaching, with a money-back guarantee, has some perks that Casey doesn't bring up during the initial consultation, like getting his books and some tools.
- Airplane ticket pricing is a good example of how different people are priced differently.