What are you being paid for?
I have been thinking about this post for several days. Sparked by a similar post last week and something I read today and others comments it reminded me of two stories.
Picasso was walking in a park, recognized by a woman who had known him when he was younger she approached and asked if he would sketch something for her. He quickly completed the drawing and asked the woman for a large sum in payment. She asked him how he could ask her for such a large sum, when it had only taken him minutes to complete the drawing? His reply, "Madam, it is not the time it took to complete the picture you are paying for, but my experience and skill which allows me to complete the drawing as quickly as I did."
The second story was in a newspaper in England when we lived there. It was a story about several European art and antique dealers. The last art dealer mentioned in the story told this story about himself. He had a client who was selling a painting and invited the dealer to come and make them an offer. This he duly did and they agreed a price which the client was happy with and the dealer took the paiting away with him. Several weeks later the client is walking past the gallery and sees the painting hanging on one of the walls, curious as to what the dealer was asking for the painting the client went in and inquired of the sales person in the gallery. Shocked at the price being asked they insisted on seeing the proprietor. As he approached they asked how he could ask such a large amount of money for the painting when he had paid them a much smaller amount for the painting. He remained calm in the face of the client's distress and speaking quietly and calmly explained that in their home the painting was worth one amount, but in his gallery, following attribution, restoration and cleaning the painting was now worth significantly more. People are paying for my guarantee of the attribution, my knowledge and for the service we offer regarding hanging and display of the artwork, not just for a painting.
So, what is your quality value proposition? Is your knowledge of the local specific market what differentiates you? Is it your knowledge of the real estate contract used in your market? Is it your negotiation skills? Is it your communication skills? What sets you apart and makes you worth what you charge?
For buyers of Main Line Homes, Mansions and Luxury Properties I would say Trudy and mine is that we tell the truth, we communicate well whatever method suits you best, we know and understand the Pennsylvania Agreement of Sale extremely well and we love the Philadelphia Main Line. We moved here from the UK 24 years ago and understand what it is like to move to a new area, either from another state or from another country. We know that real estate sales may be different where you come from and will make sure you understand the process on Philadelphia's Main Line so that you are comfortable and know what is happening or going to happen and when.
Image is of some Piero Fornasetti plates.
If you are buying or selling on or around Tredyffrin Easttown or along the Main Line we can help you, contact us or connect
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