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April 15, 2015

           Volume 17 - Number 15

      
Streamlining the Business of Commercial Real Estate
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YouConnect© is a Web-based Appraisal and Vendor Management solution enabling financial institutions to automate and streamline their process, while satisfying federal and state examination and auditing requirements.
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No. 1 Selling Comp
Database Software
 
DataComp© is the No. 1 In-house Commercial Comparable Management Software on the market today made by and for commercial real estate appraisers.
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New Edge 2011

 

EDGE© is a simple to use, but powerful report writing solution. A stand-alone application that integrates seamlessly with Word, Excel and DataComp©. 

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Manager© is our cloud-based commercial appraisal workflow application that can be accessed from any browser, Windows, Mac or cell phone. 

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DataComp and Edge
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Check Out Our Sister Publication...
TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring Hicks)

Brenda Dohring Hicks

 

Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry.


Sense of Urgency

 

A woman in my exercise class had a seizure recently. She's fine, but as we waited for the paramedics to arrive we all kept track of how long it was taking. Not that it was taking much longer than we thought it should, but it did. We all felt the strong sense that it was urgent and that someone get there quickly to make sure she was okay. That's real. The need to do something immediately was real.  Lucky for us, we don't have urgent situations that need attention like that very often. Lucky for us, most of us don't have anything in our work
lives that create such an intensive need for action. But in some ways it might help us if we did.

Sometimes we need to spark a fire in us or in others to act. To do something. To make a move. To stop living with the status quo. Nowhere is this truer than when making purchase decisions.

We see all sorts of ways that companies try to get us to move. Of course, the most common, and frankly one that all of us are so familiar with, relies on the most powerful marketing word there is "sale." Studies show that we can't resist a sale. And a huge part of the buying population won't buy something unless it's on sale. They just won't. A big part of that is because retailers have worked
off the "create a sense of urgency" by putting things on sale all the time. Retailers didn't always price things this way. It used to be that most items were sold at full price, with a limited number of sales to clear unsold inventory. That began to change in the 1970's when malls and retail exploded, creating intense competition forcing retailers to look for new ways to stand out. So over the years we've been lured into believing we are stupid if we pay retail. It doesn't matter that there are few real sales out there and that most retailers build the discount into the product manufacturing or wholesale price. We can't resist the word sale. And I'm not saying it's a bad thing. After all, our whole economy is based on consumption and if it's hard to get people to make purchase decisions, creating a sense of urgency by offering temporary discounts makes sense.

My point is this retail mentality has no place in the professional world of products and services, but creating a sense of urgency does. It's just very, very different. The sense of urgency must be created only after a true need is discovered. "Discounting," like in the retail world, isn't applicable. I'll go so far as to say "discounting," because the need for and benefit of the product or service hasn't been identified, is akin to using gimmicky sales tactics. And that is just stupid. What isn't stupid however is building extra value into your "offering," because people always want, deserve and will pay for value. They know that most of the time the only way you can really add value is by working harder for them. And that's what great service and great products backed by great service is all about. Adding value is real, it's honest and it's good. But even if you are willing and able to "go the extra mile" and bundle extra value to your product or service, you still need to help most people feel a sense of urgency - make it a no-brainer, which takes skill, because nothing is really a no-brainer.

 

Whether you're trying to sell your boss, client or friend on the fact that something is a good fit for them, if there's no sense of urgency it can be tough. Really tough. But don't get caught in the awful trap of discounting. Stay focused on the legitimacy of the business proposition and pointing out that acting now rather than later results in tangible savings or process improvement. Work on the right end of the problem. Recognize that people have all sorts of reasons for delaying decisions. Your job is to help create a sense of urgency with reasonable effort or move on. Do not do anything to cheapen your idea, product or service.

 

Think right now. Is there something you've been working to get done that you've let linger too long? Wisdom shows people are naturally inclined to continue living with their current painful situation for three reasons: 1) It's not all that painful to them, 2) it's at least familiar to them, and 3) they'd rather not pay the short-term costs to alleviate their pain over the long run. Create a sense of urgency or stop the effort and move on. Can you do it?

I welcome your feedback through email.
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