I have often noticed that the professionals who are most satisfied with their price are generally those who have the most things to improve: how can we avoid falling into this trap?
🔴 Exceptional conference coming up to learn how to double your profitability, 🔴 don't miss this and immediately take your place right here: https://bit.ly/3nbwyqp
💯Receive the free book by email (the 6 mistakes that make you lose money) by joining my private group on Facebook 💯 https://bit.ly/2KRS5WK
(don't forget to enter your email to receive the bonus)
⚠️ Subscribe to this channel and 🔔 click on the bell 🔔 to stop saying to yourself: “what was the channel that gave good ideas on prices? » https://bit.ly/2OLq0lx
#jannoncecomplet #rentalsaisonnier #revenuemanagement #pricing #price #realestate #rentalsaisonniere #airdna #gite #maisondhotes #rentability #eliseripoche
Hello and welcome to this new video. We're going to talk today about why you're right if you're relatively dissatisfied with your prices, if you think you could do better, and you see a lot of things that can be improved, and you want to. improve. It may seem basic, but you will see, there is quite an interesting foundation to explore on this subject. So if you find yourself in all this, stay in the video. You will see, it will interest you. And I would even say more. If, on the other hand, you say to yourself: “My prices are pretty good, I do them well”, stay with us too. You'll see, we'll talk about all that. This may surprise you, but it's a concept that opened my eyes quite a bit, and I found it interesting to have in mind. So, that's why I wanted to make a video on this to share with you how this concept can help us see things differently. If you don't want to miss any of these daily videos that I make from Sunday to Thursday, don't hesitate to subscribe to our YouTube channel I'm posting Complete. Also click on the bell to be alerted when I come live, that way, you are directly with me, and you can ask me your questions live. It's still great, and I like being able to read your questions live during these meetings. And then you can also subscribe to the I display Complete page on which you will also see the videos in the same way, and you can ask your questions.
I'm going to talk about this concept. I will start by telling you the anecdote: how did I come to know and understand this concept? In fact, it comes from the commercial relationship we have with our prospects, particularly in concierge services, but the thing is similar for seasonal rental companies. I spoke, in fact, with Mellie, who is a sales representative in our team, and who shared with me the type of feedback we can get. And I said to him: “You'll see, it's interesting, because the prospects who don't yet work with us and who tell us that their prices are going very well, that they're doing very well, that they don't spend a lot of time on that, but everything is fine, it's quite amusing, in general, because those who say that, there is a perfect match between this speech and when we see it online , because in fact, we can see online, it's the advantage and the disadvantage, it's public, and in general, there is still a big match between those who say that, and precisely, the properties on which we clearly see that there are things to be done, and that there are problems in fact, and that clearly, a little touch of revenue management could help. And this is the response Mellie gave me: “You know that this is normal, and that this concept has a name? It’s called the Kruger Dunning Effect.” I told him: “I don’t know at all. What are you talking about? What is this thing?” And in fact, she explains it to me, and I find, to be honest, that it may seem very condescending to talk about this concept, but in fact, I share it with you in a very humble way, because I myself I said to myself, “It’s true.” As for revenue management, I no longer have it, obviously. With ten years of experience, fortunately I no longer have the Dunning-Kruger effect, but on many other elements which are not my primary expertise, I too can be a victim of this Dunning-Kruger effect. So, I said to myself: “Ah, yes. We really have to take stock, because it’s true that we have to be vigilant about things that we have less control over.”
In fact, the Dunning-Kruger effect is an effect which consists of saying that in fact, at the beginning, when we do not have skills on a subject, we tend to overestimate our level of skills. And in fact, we even tend to consider ourselves more competent than the experts, that is to say we will not necessarily recognize the expertise of people who are in the profession or who have experience in the subject. We may even be led to consider ourselves more competent than people for whom this is expertise. So that's what they call — it's a bit harsh, we shouldn't take it the wrong way when we read that — the mountain of stupidity. I promise you, you can google “dunning-Kruger effect” on the internet. It's that moment when we overestimate ourselves, and we also overestimate ourselves compared to the experts. And then when expertise increases, when we continue to learn new things, we fall into our own estimation of our expertise. We were very high, and then suddenly, we fall very low, because the more we learn, the more we realize the mass of things that we don't know, that we didn't do. And the more things go on, the more we realize, in fact, that our previous level of expertise was really low. And so there, we pass on an estimate of our expertise which is extremely low. We pass into what they call “the valley of humility”. So there, it really is the valley of humility, and little by little, we manage to find a reasonable curve for estimating our competence. The more you go, the more you improve your skills, and you eventually reach the skill level of an expert.
In fact, for me, it was truly a revelation. I said to myself, “Yeah, maybe I'm on the mountain of stupidity on some topics.” And actually, I said to myself, “That’s interesting to share.” It's true that it's interesting to share, this Dunning-Kruger effect, because ultimately, it means that when we are on a subject where we really know little, we would tend to feel a bit like a superhero. , to feel super efficient, when in fact if we just take the step of digging a little deeper, of finding out a little more, we realize little by little that there are things to learn, there there are things we don't do, and there is enormous potential. So for me, the lesson I learned was to say: “Being satisfied with what you do today can be extremely risky. We could fall victim to the mountain of stupidity.” And really, the solution to that is quite simply to train, to educate yourself, to learn, to read, to watch YouTube videos like the J'poster Complet videos. So for that, congratulations to you who are watching this video. But all of these are things that, in my opinion, are important to remember, and for me, it really struck me. So. I really wanted to share this with you. This live will be an extremely short live, but I found that it was worth the anecdote, and that it was important to say it again together.
I'm taking this opportunity to share some great news with you in this live. We have created, at J'poster Complet, a webinar which is truly a summary of all our best methods for doubling the profitability of your property. In fact, we realized that we have a lot of feedback from people, from seasonal rental companies with whom we are in contact, who are not satisfied, who are frustrated by constantly doubting when setting prices, being fed up with not knowing if we are making the right decisions or not, being tired of being frustrated with the occupancy rate which is not what we would like, being tired of not having the profitability that we would like deserves to have. And so, to answer that, we said to ourselves: “We are going to do a webinar with the summary of our best methods to be able to share and help on these elements, so as to allow you to take a higher step in your activity: having both the performance, but also the serenity that you deserve in your activity.” It opens a lot of doors, in fact. In reality, having better serenity is all the personal projects that you make with real estate that can take place, because a property that is not profitable will not allow you to have additional retirement, that will not allow you to travel. This is really important, and you know it as well as I do. And then there is something else: a profitable asset potentially allows you to delegate. It frees up time. All of this is really important. And that’s how we build our real estate projects. So when it doesn't happen like that, it's painful, and that's normal. So, that's why. First of all, rest assured, if everything I tell you means something to you, you are not alone, rest assured about that. So, we did this webinar. I'll put the registration link just below. This is a live webinar that will take place. It will be me who will be with you to share all our methods. I can't wait, really, to present it to you, because frankly, we worked hard. I think it's really full of good elements and good methods. I'm sure you'll like it. I would be happy to see you again. I'll put the registration link just below.
If you also want to sign up for our private group called seasonal rental pricing and turnover maximization, don't hesitate to do so. You will receive your free bonus with the six mistakes not to make when making your prices. So much for this live today which would have been shorter than the others.
− Thank you, Romain, for your feedback. It's always a pleasure.
I wish you a very good day. Take care of yourself, and then I’ll obviously see you tomorrow for the next live.