Why He Never Has a Hard Conversation With a Seller - Josh Morrissey #94

Josh Morrissey says he never has a hard conversation with a seller, and he means it literally. The reason is a meeting he books into the calendar on day one: if there is no offer between weeks two and four, they are sitting down to talk about price, and everyone knew that before the campaign started.

Josh Morrissey is a director and auctioneer at Hive Property in Canberra, a city of about 477,000 people where he puts the luxury segment at roughly 5 percent of the market.

What you will learn:

- The weeks two to four rule, and why he schedules the price conversation before the campaign even begins

- Why he says the market being down is rarely the actual reason a listing has not sold

- How Hive broke into an old money market where the incumbents had been trading for thirty years

- Where he would go looking for a buyer at the top of the market, which is not in the property data

- Why nobody is entitled to their own facts, and what he puts in front of a vendor instead of an opinion

Chapters

00:13 Build the who, and the what takes care of itself

03:20 Think bigger, and why excuses are the thief of success

06:39 Gym, a 7:30 first call, and no appointment before 1pm

10:10 Refreshing the plan every Sunday, and cracking Canberra's old money

14:26 Positioning an agency as an advisory firm instead of an order taker

17:34 The streets are littered with the commodity you sell

21:32 Build an ecosystem, not a one trick business

24:38 Ask the client whether they actually want you to get on a plane

28:16 Being present, and money only mattering once you can give it away

32:11 Relapsing, and not letting one bad night undo a month

35:26 Perspective when something actually goes wrong

38:28 Whose fault is it when nothing has sold in eight weeks

42:45 Everyone gets an opinion, nobody gets their own facts

45:52 The weeks two to four rule, booked into the calendar in advance

48:56 Knowing the buyer metric as well as the market metric

52:44 Stoicism, Ryan Holiday, and where the mindset came from

Josh Morrissey books the hard conversation on day one so it never becomes one. Property should be bought the same way.

Most properties only make money if the market does. The ones that pay for themselves from the day you settle are bought differently, and it comes down to four points.

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General information only. Not financial, tax, legal or credit advice. Bothsides is not a mortgage broker or credit provider.