‘Skin In The Game’
Pensive greetings from ‘The Shed’!
I have had my Pandora ‘Bosa Nova’ music on, and have been pottering about sorting and packing and scheming all day. Lots of time to think and sort out my week too. I have been thinking a lot about the concept of ‘Skin In The Game’.
Definition: ’Skin In The Game’ – “to have incurred monetary risk by being involved in achieving a goal”.
A buyer, who came through one of my properties yesterday, described my business model back to me in a way that had never occurred to me before. He said that I have ‘serious skin in the game’. A lot of it! It made me think … what a great way to describe how I am so different to other real estate agents! It’s my point of difference. Big time.
By providing my furniture and accessories staging inventory (and my styling time) at NO cost to all my real estate clients, I share the risks with my sellers as we all have ‘skin in the game’.
As a direct result of the investment I’ve made into my business assets, I am making a direct investment into the sales result of every property I sell. The more I invest in my business, the better it is for all of my sellers. Making my ever expanding range of high quality furniture and accessories available to all of my clients allows every seller to make their home as beautiful as possible, so when they enter the market they are immediately positioned to generate higher ‘buyer desirability’ and higher ‘buyer competition’, which in turn drives faster sales and higher prices.
My stock, and my time spent scheming and staging, returns nothing if, on the off chance, my seller doesn’t sell. My risk? … no return for my styling time, no return for the cost of my stock and the opportunity cost of my stock being out of circulation that could be used elsewhere. Needless to say there is also no real estate revenue as well.
Everything I use in styling my homes has been purchased from re-investment in my business. Behind the scenes I receive A LOT of enquiry about pieces that I have purchased and that I use … where I often refer many readers on to the supplier that I have purchased from … with no kickbacks or benefit to me. I need someone full time to answer email enquiries. I am working on that!
I can also honestly say that I have not received one gift or freebie from anyone when it comes to my inventory, although I am definitely not opposed to that!!! My inventory has been painstakingly schemed and purchased by me over the years. I now have an inventory insured for over $200,000. For a minimalist by heart, it overwhelms me at times! It’s work, it’s stock, it’s not possessions! Repeat, repeat!
That said, I am always looking for something different for my homes and vignettes. If you have a product that you feel fits in with my aesthetic, and that you think would look great in one of my vignettes, I would love to know about it. In return, I am happy to link back to your business in my social media posts and pass on your details to buyers who enquire about your product and want to purchase.