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Do you know how Uber got started?

In 2011, Uber introduced luxury black car transportation as its first product. It was 1.5 times the cost of a taxi.

Uber identified a sizable niche of people who would pay higher prices for a more exclusive way to travel. So it developed a smartphone app that made ordering a black car a piece of cake.

It was a highly visible, highly differentiated, high-margin business. Uber didn't try to be a better taxi, it decided not to be a taxi.

Who is the richest person in the world?

Warren Buffett? Elon Musk? No, it's Bernard Arnault.  

As of May of 2023, according to Forbes, Arnault surpassed Elon Musk with a net worth of $215 Billion. Arnault owns luxury brands like Christian Dior, Tiffany & Co and Louis Vuitton.

These are companies with highly differentiated, high margin businesses. They are masters at leveraging scarcity and exclusivity into desirability, which drives up margins and profits.

Have you purchased a Ferrari lately?

Want a Ferrari? Sorry, you can’t just walk into a dealership and buy one. It starts with a waitlist, and you hope it's the "real" waitlist.

What is the "real" Ferrari waitlist? It's the list where you may get a call. If you're on the other list, you won't.

For example, reliable rumor has it that when you walk into a Ferrari dealership if you don't look at least 40 and don't look good on Google, you won't get on the real waitlist.

Does Ferrari's obsession with scarcity, exclusivity, and differentiation pay off? The company pre-sells every car it makes, those cars typically go up in value, and Ferrari often earns as much selling one car as Ford does selling 900.

(Learn more about how Ferrari leverages differentiation, exclusivity, and scarcity in my weekly blog.)

Get out of the Mediocre Middle!

Uber, Ferrari and Arnault are not in the Mediocre Middle. Unfortunately, I believe the real estate industry is.

This week a 72SOLD agent told me about a recent listing appointment where the seller was blown away that part of our program was she actually showed up for showings. The seller’s previous agent put the home on lockbox and never showed the home... not once.

Then she explained our 7-Step Showing process to the seller, and how we enhance a home’s perception of uniqueness, scarcity, and exclusivity to increase buyer offers. The seller said, “Why doesn’t every agent show homes that way?”

Good question!

Wouldn’t you think teaching agents how to sell homes for higher prices (what every seller wants) should be every real estate firm’s #1 priority?  

I'm going to vomit (is that too graphic?) if I read another Inman article celebrating real estate firms that increase agent count the fastest. Does this make sense when home sales are down by 1,000,000?

Every real estate firm's priorities right now should be bringing in more business for the agents they have and teaching them how to do that business better. Hats off to KW for partnering with 72SOLD to help its agents have more business.

PAM - Escape the Mediocre Middle

As you know, we are launching a Protected Area Model in July. Your TV referrals will now be "close to home", and you will have exclusive rights to the 72SOLD brand, program, DIY marketing, and TV referrals in a geographic area where you work and know best. Your sellers will be better served, and so will you.

This will be a HUGE STEP in enabling you to differentiate yourself from competitors, increase your profit margins, be protected from others capitalizing on your hard work, and build a business that has salable value.

The PAM model will also limit the number of 72SOLD agents nationally…like Ferrari limits its cars.

You will be coveted.

You will be rare.

Like Ferrari, you may even need two waitlists.

You will not be in the Mediocre Middle.

-Greg

Have you submitted your ZIP code requests to have your own protected area to market and build a scalable, salable 72SOLD business?

We are currently vetting requests from hundreds of our agents for thousands of ZIP codes to have as their own Protected Areas. Watch this short video from Greg if you’re not already familiar with this opportunity.

If you have not already done so, apply for a Protected Area by sending the ZIP codes you service and know best to support@72SOLD.com.

Did you attend the Wednesday Team Call? If so, you learned how 72SOLD agent, team leader, and national coach Karl Tunberg has developed a gifting program that earns him a 500%+ return. Check out this excerpt of Greg interviewing Karl about his gifting program. 

We are running our first "7 Steps in 72 Seconds" tournament next week! Check out the rules below and enter to win $200 by being the best at explaining our 7-Step Showing Process in just 72 seconds. Watch this video to see Greg "wing it" on Friday’s team call.

A Different Spin on 72SOLD

Check out the new and different type of 72SOLD TV commercial. How is it different? We say that we have a “higher price program” for selling homes, removing any ambiguity that we buy homes. If it draws as well as our other commercials, it should help you convert more leads to appointments.

This new "Just Sold" postcard will be available in our Print Shop next week for you to customize, download, print and mail to homes around your recent sales. It encourages neighbors to reach out to you if they'd like to know the sale price of your recent sale.

Our new and improved Seller Preferred Term sheet will be coming to our Print Shop next week for customization and download/print. It should be given to every prospective buyer as a playbook on how to buy your listing.

Use these national graphs and stats on your listing appointments to convince sellers to price their homes right and sell in 8 days or less to maximize the price.

We update these every Friday (thank you Sarah Perkins).

Click the image below to download the PowerPoint version or you can get the PDF version by clicking here.