Perceived Scarcity increases demand for anything from that sold out lemon cream donut to the masseuse you need to book weeks in advance. When things are rare, or scarce, we want them more.
We all know that people want what they can’t have.
Our annual Wilderness Explore in August is full and this week we posted SOLD OUT on the website. This brought us a flurry of inquiries about this opportunity.
I have been unable to accept any new clients on my coaching roster for some time now and this creates a lot of demand.
A client of mine was asked this week, “Are you taking new clients?”. Her answer “ No, but…” because the perceived scarcity makes her much more appealing.
So how do we engage this instinct in our prospects, but still end up working with them, and making sure they know we will prioritize them and serve them with excellence?
Well here are a couple ideas…
- If you do have an abundance of time, don’t lead with it. If you’re a new agent, coming out of a slow period, or some time off- don’t make the conversation about how much time you have- the psychology goes both ways.
- Show that your scarcity comes from quantity and quality: many people want to work with you, but you also ensure you only take on as many clients as you can serve with excellence
- Adopt the mentality of mutual choice- they don’t just choose you as a REALTOR, you’re choosing them as clients too.