Pricing Persuasion Tactics

Hey, it's Mark Podolski, the lane Geek with thelanegeek.com let's have another virtual cup of coffee together. So I was just reading Robert Cialdini and Noah Goldstein's book called the Big small and how 52 small changes can make a huge difference in your business and your persuasive ability with your employees, your business, your children, all these things. So I'm not going to go into all 52 small ideas and changes that they request, but from a pricing standpoint, I thought it was really interesting the way that they talked about pricing. And I thought this is a great way to price your land. And what they would do is they would use anchors, right? So a good example would be a car salesperson. You go into a a dealership and the salesperson says the car is $5,000, even though you're only willing to pay $2,000 for the used car. What they found in the study was when the salesperson anchored at 5,000 and then negotiated down, you were more likely to pay upwards more for that car, not 2000, but more towards the 5000 than you were if they didn't use the car anchor. You were even more likely to buy a car if the price was $5,132, for example. It was more precise because in the buyer's mind, they're thinking, oh, they've really researched exactly what this car is worth. We can do the same thing with our land investing and our land prices. Even better is to have a couple options that aren't great. So you've got, let's say, three properties. One property is at $40,000 and the other property is at $15,000, and the other one's at $8,000. Well, probably no one's going to really want that $40,000 property, but I guarantee you're going to get a ton of sales on the $15,000 property. So if you want more tips, tricks, techniques on how to make an incredible income actively and passively buying and selling raw land, and go to www.thelandgeek.com. download for free the Passive Income Blueprint, get the ebook how to Avoid the three Fatal Land Buying Mistakes, and of course, get the always informative and engaging Land Geek podcast delivered each week to your email inbox. This is Mark Podolski, the Land Geek. Thanks again for having a virtual cup of coffee with me. I'll see you next.