“Don’t play hard to get. Be hard to get.”
How do you sell a $20,000 purse? You keep it in short supply and only sell it to people who meet certain criteria. Once only a few people can have it, everyone will want it.
Of course, it is a lovely looking bag. And Grace Kelly reportedly fell in love with it when filming Alfred Hitchcock’s To Catch a Thief, eventually leading to it being named the Kelly Bag by Hermes.
There’s more to this than just being hard to get, of course. Few people can afford such a huge expenditure on an accessory which also makes it a status symbol but Hermes understands what makes people desire something to their core.
A big part of what drives our desire for something is not a rational need. Knowing other people want something, not being able to have it easily and fear of missing out, all drive us to want something more than we would otherwise. It also drives us to make decisions and take action. It’s the foundation of the simple principle of persuasion called the Law of Scarcity.
Understanding this law and putting it into practice in your real estate business can help you sign the tenants you want quickly, negotiate better deals with sellers and have your potential investors say yes to your deals faster.
Here’s how to use the Law of Scarcity in your real estate business:
The Law of Scarcity is a powerful tool to use in your real estate business. But there are many ways to do better deals and find great tenants. If you are looking for other ways to do better deals, here’s another video tip for you: https://revnyou.com/how-to-find-great-real-estate-investing-deals/.