YouSaid · the spoken record

Barbara Corcoran

lines on the record: 96
first: 2024-03-06
most recent: 2024-03-06
sittings or episodes: 1
sources: podcast

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“Thank you. You're wonderful at what you do. I'm not just giving you a compliment back, but you really are wonderful. I do a lot of this, so you are.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Tell you, it came right to my head the minute you started asking the question, I would say you're a lot more capable than you think you are. People write themselves off so early. I mean, I saw people through my career with the Be entrepreneurs, the shark time, whether it be corker group agents, come in with battle scars from life, not really thinking they deserve their success or could accomplish it. I saw losers become winners constantly, and they wrote themselves off somehow too early, so I think people are so much more capable than they think they are. So I would write you with capital Y, oh, you are more capable than you think you are. Maybe I could come up with something better, but that's how I feel. So I'm telling you that now.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I don't know. That's a satisfying thing in life. But I like to make a difference with everybody by a smile, my hello, whatever I do. But my sweet spot is helping entrepreneurs. I know I make a difference. So having that confirmation come back at me makes my day. I almost have a hard time working after it. It's like, oh, I'm cool. I'm cool. I'm cool. Then I squeeze my head down and go, get back to work. But that's most satisfying, yeah, without a doubt.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“An entrepreneur coming back and saying I made a difference that my suggestion to do this worked and this successful because of it, which they're exaggerating, I realize that. But feeling or not feeling knowing the feeling of having somebody come back as proof that I made a difference. If you think about it, I think maybe all of us just want to make a difference, you know?”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I'm trying a new thing every week, a new approach to it, getting the feedback. They tell me what they like, what they don't like, what they want to do differently, but it's taken on a life of its own. It's only a muffled. But I see it like. I almost feel like I have my old Corcoran group back. Isn't that weird? Because I see their faces. They tell me their problems. I could see what's good about them. I could see what's bad about them right away. You know, I feel like I'm building my Corker group all over again. I couldn't have done it without a large platform to do it that way.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Two reasons. I wanted to make a team of entrepreneurs that I loved and also I was constantly giving advice, constantly giving courtesy meetings to people to help them with their business, constant. And I would get to maybe seven, eight a week. And it was heartbreaking because I'd have 30 people who wanted help. So I just tried to think of a system where I could help a whole bunch of people at once where they could interact with me. I could answer their questions and then also get help from the other entrepreneurs because all my entrepreneurs from Shark Tank help each other. I molded them into a family. It's not one business. It's 130 businesses. They don't all help. Some of them aren't going to make it, but most really help. And so I wanted to bring people together to help each other. And I wanted to give them honest advice, no bullshit advice, not slice of my words, tell them what I really thought, what I really thought was a problem, whether they wanted to hear it or not. And I felt I could help them really build their business. But it's young.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I would have told myself because I had to learn this over a few years hire happy people. I mean, I started hiring salespeople that were phenomenal from other firms. I turned into an ACE recruiter, but they were miserable at home. They drove me crazy. You know, great salespeople have two personalities. Most of them have two personalities. So I had, for a number of years, I had miserable people that could suck the life out of you with their bitching and complaining. And then I decided one day I'll never, ever hire anyone unhappy again. And that was like pulling the curtains back and the sky opened up for me in every way. It was fun at work every day. You know, complain is our funny thing. They're part of all families, all business, all circumstances, but they're horrible. I just don't, you know, just complainers. They suck the life out of you. So I think I would have gotten tough on complainers right away and fired everybody who complained. You're out of here. You're out. You're out.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“He said, because you forget about it, the many own it. And I thought, if Harry Helmsley, so rich, could overpay, I was stunned by that answer. And I always overpaid and always bought real estate that wasn't for sale just by knocking on the door. You get exactly what you want. I love that house. Let me knock on the door. And you can often... Be two years early, but you could be persuasive with money.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Yes, he said My house was done in a month. The house was supposed to take nine months was done in a month. So I always am willing to overpay. And you know who I really learned that from, or maybe didn't learn it from, but first heard it and I've always often thought of it was from Harry Helmsley. When he was the biggest landowner, big developer in New York and owned all the best real estate and the best locations I attended a speech by him and somebody in the audience said something, what's another tip? What's another tip of buying? How do you win the bid and everything? He says, I always overpay for everything I want.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I've always paid for any real estate I want. I always overbid. I even get my construction jobs done by overpaying, and I Two summers ago, there was so much construction work in Fire Island where I bought a new home but it was dilapidated. I had to rebuild it. The last minute the builder said to me, I can't handle it. You're going to have to wait a year. I said, really, why is that? He said, well, I can't get the help. I can't get the materials. It's COVID. He gave me a list so long I was suspicious. I said, what if I gave you $200,000? Could you get it done this month? And he said yes. Didn't even have to think about it”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Waiting forever. But these neighbors are so genuine and so real. They're all from the Hollywood business, but they're camera hand, stage hands, ladder people holding the script people. They all had these menial jobs that most people seem menial. They love their jobs. They were so happy to be in Hollywood. They're always talking about it They've had happy lives and they share them with me, so I could never move away just based on my neighbors, even my trailer blew up or something. I would just move right back on the same block. They're really lovely people”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I very much fell in love with my neighbors. I'll tell you, my neighbors right up and down the street, you never get to know the neighbors on the other streets. So there's like a total of 12, 13 houses. I know most of them. I know most of them well. I have dinner at the house. They come to my house for dinner. But why I like them is they were just like my mother and father. They were simple blue-collar people with real values that were as lovely as a day as long. loveliest people in every way they cared for my trail when I wasn't there let me know if there was trouble a storm coming making sure I was batten down I mean if I tried to find neighbors in New York City around my very expensive apartment to even give me a pound of sugar I'd be”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I put the place into a spin not because of me. I just bought it the right time. I put another $200, maybe $300,000 into it, and now it's worth like $1.9, maybe two. Not a lot when you're in New York and hear crazy prices, but for that trailer park, it's a lot of money. But I have a full view of the ocean. I'm like at the Four Caesars Hotel, flowers. I have my garden. It couldn't be more beautiful. And so it was one of the best decisions I really made, definitely.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“right to use it for two weeks a year. She's been using it two weeks a year. She's so happy. She brings her family. She's had reunions there as tiny as it is. And she sold it to me. Now I paid for that trailer $800,000, which everybody in the trailer park said a morn from New York just paid $800,000 for a trailer. I purposely overpaid by $100,000, but it seems so undervalued to me. I said, what do I care about? I'm going to use it for 20 years. What do I care about $100,000? Which is true in buying real estate. What do you care about it if you have the money to spend? But, you know.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“And I met a lovely woman who owned the home and I asked her if she'd like to sell it. She said, no. She had no intention of selling. Maybe in a few years. And so I called the local broker I'd never liked the homes I saw there that she showed me. And I went back to the lady. I said, what if I give you a life estate you could come and visit it whenever you want? Would you move out? And she said, yes.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“My next neighbor New York said, I've always wanted to buy a house in Alliance. That's funny. I'm thinking the same thing. Why don't we buy it together? So we went out there to buy it together. Her husband wouldn't let her buy it. And then I took a car and I drove around and I found a trailer park and I fell in love with it. That's all. I was trying to turn on US1, which is hard to turn on. Takes forever to make a U-turn. So I took it right up the driveway and I was in a trailer park. And it's only a half hour from my studio. And I went around and looked at all the trailers and picked out I thought the best position. So you could always change inside, but you can't change the location.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Now I do use it in more than a few weeks a year. Probably five weeks a year maybe. I shoot my show of shark tank in LA, and I always stay at the Beverly Hills Hotel, which is so luxurious because they pay for it. I'd never pay the price. They put me up there.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“But I will almost always walk away because it's never worth my energy. You don't really win. That's what I've concluded. Now that I'm older, I've watched people, not so much myself, but other people that I know well in business, they never win. And the people, like you said, the people who are litigious all the time, righteous litigious is even worse. They're always unhappy. Almost fuels their unhappiness. What a waste.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Not happy people, by the way, those people are constantly in lawsuits here. How I assess them is probably backwards. I think how much energy is it going to take from me because it's always negative energy. It's never positive. So, I think how much energy is it going to take from me for how long? And I take a quick guess and I make my decision there, not on whether I could win or not, which is it worth the energy. Is it worth the energy? You do have to stand up for yourself like on that lawsuit with Trump. There was a lot of money at stake and certainly that entered into it. I don't know if I would have sued him for $10. A lot of money on the table.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“What is that stupid? But then I had the flowers. So I send them flowers for the next four or five, whatever many years it was, and flowers that I liked because I knew he sent them back every month, rejected.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“With the flowers, and he sent it back to me and he put a big, he always wrote in thick ink, you know, and he put on it, rejected, and sent the flowers back to me.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“It took me five years to get the commission because the judge, he said he didn't have the money, which was true. He was near bankruptcy. So the judge made him pay me the commission in $55,555 in stolen payments for five years, or whatever, how many years it takes. And you know what? The best part of getting those commission checks, you've done such research. Maybe you read this, but I got to tell it's my favorite thing. I sent him a giant bouquet of flowers when I got the first $55,000 hand delivered to me by a messenger. I said, thank you, Donald. Handwrote it. I really appreciate the check. And I sent him the note with the same messenger. And he took him back.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I wasn't getting my money. No, I'm so sorry. I misrepresented Donald Trump took about two weeks, I guess, because my attorney called me like two weeks later, can I represent Donald Trump?”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“He was a showman in court like show business. And his thinking was so smart and he didn't give Donald an incha and he called me after the lawsuit was won like two weeks later and said I need your permission to work for Donald Trump. Donald Trump He said he's hiring me for a major lawsuit. It's a conflict of interest. I said, I got my money on the way. So, no, no problem, you know”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“You sign, you'd give it to me, and you're not giving it to me. Are you suing me and said, Oh no, I don't think so. But what other lesson I learned at that juncture just as important as a willingness to fight is get the right help? I never had a lawsuit, as it just said, and I interviewed the top law firm. I think I had five or maybe four, maybe four is more realistic. The four top attorneys and the four litigious firms in town. And I wanted to hire the toughest guy thinking, I need a tough guy to beat this tough guy. But I didn't conclude there. I met an attorney, I forget which firm, Scadmarks, I think it was with, Richard Seltzer. He's now retired. And he had the most solid thinking, and I used my common sense to say, which attorney is not saying I'll win, but which attorney is saying why he'll win. And this guy told me why he was going to win and the strategy and it was so simple. I said, you've got the case.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“And thank God how life happens. It was the first year I made a real profit in Corcoran Group. So I never made money. Because I was always throwing my money back in and living so cheap so that I could afford to open offices. Always the money went to the business, the money went to the business, never came to me. And that year, I had more money than I could spend. I had like over a million dollars in profit the year before, the many years before that either had losses or 100,000. But it cost me $500,000 to sue, but I had the cash. Think about that. So I felt powerful that I got the money to fight it. And I'm certainly not going to walk away because you know what? My thinking is I'm walking away from a well-thought fight. You resent it and regret it for the rest of your life. I didn't want to be that girl. I said, I'm son of a bitch. How did he get away with it? How did you get it? You regret when you don't confront things. I think in anything, but particularly with a moral fight. And in my mind, that was morals, all about morals. I earn the money.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“That's a good example because he's an intimidating man. He's a bully. He's a real live bully in every way. With him, I wasn't scared for a second. I had never had a lawsuit. I didn't know how to hire an attorney. I didn't know what it was about. I'm not a fighter. You got me wrong on that, Tim. I don't like to fight. I'll walk a mile to avoid a fight. But when someone insults me, it brings out the fight in me. I don't know where that comes from. I guess same thing with the competitors being insulting to me. I know where that comes from. When my father would drink and he was a social drinker, so it wasn't a big issue, but it wasn't an issue. He would be abusive with his mouth, like a bully, and he was the loveliest man in the world and would turn into a bully. I hated him for that. I hated how he talked to my mother. I hated how he talked to his children. And so it would just tip into that. So when Donald is like, you're not seeing a penny, I'm like, I turn into a killer. It's insulting to think I'll really roll over on that.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“First of all, you have your own time. I have an hour just for me splurging on me. It's all about me, and I don't ever have any time like that'll make the time. What I also get is relaxation. I run hot, calms me down, calms you down. I get vanity. I look firm, I look good in clothes, people say you have a great figure, so I get all the flattery that's good for my ego. And most importantly, I find that when I don't exercise, it's really a question when you don't like, even when I go on vacation and give myself a break for a week, I don't think as well. I think it gives you a great ability to think clearly. I really do. Exercise and pulling weeds in my mind on the two best therapies in the world. You really don't need much more than that. You straighten out all your problems that way.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Nothing special but what it does have is consistency. And that's the key to any exercise. I don't think it matters what you do. I've thought of taking up different kinds of exercises. I never get to it. But I have four appointments with a trainer well before I could afford it. She'd be the last person I'd give up if I was going to the poorhouse. A trainer that is at my door and I have no choice because if I had a choice, I would never work out. But there she is, Margaret, who's been with me like now 15 years, and I got to do it. So it's weightlifting, stretching, cardiovascular, a little bit of that. I get away with as little as I can. I don't like it. I've never liked a day of training in my life. I really don't like it. I love to give it up.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“That time of year a nice hearty red wine with a lovely handwritten note. I don't know what we did. We didn't do anything special, but the fact of the matter is we did it, and a lot of people didn't do it.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“We started, I think, with a calendar. Everybody gives a calendar, but my face was on it. Pretty ego driven, don't you think? Why would somebody hind a calendar with my face on it? Right, a pinup girl maybe, but my face, but at least they sue who I was. Then we said, we did bottles of wine, boujelet.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“It had a rhythm to it, always like a steady drip, a steady drip. So it was hard for them to forget us. I remember I learned this lesson. I didn't do it the first one or two years, but I was at Lincoln Center one day having a lovely dinner with a friend, and I sat next to a couple and they were talking about moving and they were trying to recollect the name of the agent. Right there, right next to me. And they were saying, what was her name? Where did she wear? But they had lived in this apartment like 15 years. And I thought to myself, oh my God, that's terrible. And I went right back and created the system to stay in touch with people because I saw what a loss it was, how much money did that mysterious agent lose that day? Probably a lot of money. They looked rich to me the way they were dressed.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Definitely, I bought a gift, which was from the salesman because I want them to get the repeat business. Those are my men. I need that. Always sent a gift. I always had a lovely gift that wasn't too expensive, but we were making money so I could afford it. And the most important follow-up was the follow-up. I made sure that every three months they got a postcard from the sales ring, but it had my face on it, my brand on it, saying hello, I had cute little messages really hokey now that I look back at it, but it's unimportant. What was important is it didn't have to open an envelope to find the message they had to see it because it was on a postcard.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Because I don't want you to be rash. Everything takes thought. You should really buy something you love. And even if you think you love it today, you cannot buy it the same day because it might not really be a love affair. Promise me you won't buy anything. I would have customers calling me and I panting and begging me to let them buy something. It's a routine, right? It's sales, you know? But every customer was happy with what I sold them. Every customer referred their business, so I knew I was doing good and making everybody happy. It wasn't like I was selling anything bad. I always believed it when I sold her. I wouldn't have shown it, you know? I'm saying that because I don't want you to think I'm a bad person.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“You close. That's what I was Very important thing the reverse clothes, the best close in the world for any business, and it would start like this listen today I'm going to show you a number of apartments I don't expect you're going to like all of them, but they're all to be measured against one another. I'll show you a range of prices so you see the value. This way you're moving them from the price they said they had to have. You would have like a 10% leeway. I'm going to show you all of this stuff and I want you to promise me right up front you will not buy anything today. What do you mean I won't buy anything”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Try to hang out with the men, they usually won't let a lady pay for the cab. That's a bonus. You could line up eight apartments to show to a man, but if you're showing it to a woman, make sure the apartments are closed, limited to three. Not because you're biased against women, but you had to make your care. Now, all these little details, how to sequence what you show, what street, like 86th Street was. A choppy street, so I always approach eighty sixth Street not from Lexington where my office came from, but I always went to York and East End Avenue that was quiet with the birds with Colchester's part and then got out of the cabin, walked them through that neighbor to up to 86. I wouldn't say, well, maybe some people might, well, it's scamming people, but presenting it as best you can. All those things are so important in sales”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“The best answer of all is I really have to find something within the month because I'm being transferred here. Terrific. What are you doing today? So to rate your customers based on need only, don't worry about another thing, just do they need it and get out with them if they need it. And so I taught her how to pick the right customers to work with. And nothing unusual I taught all my salespeople how to do that, how to qualify customers, how to rate them A, B, and C, A, immediate, B, sort of immediate C, forget about it, don't call them back. And I also taught her how to hustle, how to build a routine in showing customers, show them one apartment that's terrible, or you could reverse it, show them the apartment you think they'll buy first, and then you compare everything else to it. You know, there's certain sequences selling that you want to expose how to dress for the part, how to get away with not paying for the cab. Very important when you don't have money in New York City.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“How to assess a customer's immediately when they're talking to you on the phone, immediately. And it isn't how much money they have to spend, what they're looking for, what pot of town, whether you even have the listing possibly to show them. The whole thing was urgency. When do you need the apartment for? I taught her the golden question in all sales. When do you need it for her? we'd like to get in by Christmas that's a decent answer at least it has a timeline another answer whenever we find the right thing don't work with them”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Having lunch with her tomorrow, she claims now, and she's very elderly, I'm hoping she makes the lunch, she said. She said her purse wasn't nearly as organized as I make it up to be. I said it was, Esther, it really was. She goes, no, it wasn't. So we argue about that all the time. But she likes it. She says, even if it's a story, I like it, but it's not a story. Distinctly remember what that person looked like. I could draw you a picture.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I told her I'd open a position for her. I teach her everything I knew she'd be my right hand person, blah, blah, blah. I never expected her to make a sale, honestly. She did. She was a consistently hard worker in soul which she needed to because I didn't want to pay her to help me out. I didn't have the money. But I told her I'd give her 10% on my business if she would be my right-hand man and I'd teach her everything I know about selling. And that was a wonderful partnership. I could have never built that business without Esther. She was my exact opposite. She did everything well that I didn't do well and I did everything well she didn't do well. That was a lucky day.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“And she had a file cabinet inside it, not a metal one, but she had partitions with labels in her little purse. And I'll tell you, I had never seen it in my life, and I've never seen it since. I thought to myself, which I've said before, but I remember consciously thinking.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Boy, thank God she opened her purse when I gave her my business card to put business card in her purse, and that was all the difference because she opened that purse with her little click, even the click of her purse was concise. She was one of those. And she opened it up and she looked for a place to file the card and she tilted it toward me like you are where you are now.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“That's much more than I had apartments, and so guaranteed me a line, and they were all there were people upset, you bet you they were like, I didn't get my, I was going to call it a puppy again. I didn't get my apartment. I didn't get my apartment. And you might ask, why would the person last in line who got the run to the litter, a horrible apartment? Who was it? Why would they buy it? Because they could turn around and see another hundred people in line. On sales, everybody wants what they're short supply. It's kind of like one empty desk, the same theory. You make it tight. You can't always get it.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Best way. Who doesn't like a secret? I didn't have the money to advertise, but I wouldn't if anyway, if I had the money. I told my salespeople only bring you two best customers. Of the litter, you get the early, your customer is going to get the best pick, get there early, but don't you dare bring more than two customers aren't enough to go around. Now, two times, I guess I had at the time 150 salespeople, that's 300 people.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Load it up, big stacks of them with signatures on. I signed them all. And then I had a new stack with no signatures. I go, Visa taken, sign the contract here. Find them so fast, and I sold them all like within. Close to three hours, two and a half hours And Bernie Mendik wrote me a check”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Of the puppy sale, the morning of the one price sale, one price sale, I called it. And you should have seen the couples, the individuals running. I had a bus rating for them for the east side and west side. It said deals on wheels, deals on wheels. And they took them to the west side, took them up the upper east side everywhere, and they grabbed those apartments. And then I had a great, well, I should just really say a scale. I had the contract of sales.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“I looked at them and realized they were not saleable. They had no kitchens, they were dumpy, they were in the wrong buildings, they were just really the losers in the marketplace. And so I went back and said I couldn't sell it. Nobody could sell it. I couldn't think of any way to sell it unless they let me do an auction. They said no auctions. And then Bernie Mendick talk about positive reinforcement. Great developer. He said to me, Barbara, you're such a smart girl, you'll figure it out. And I thought, I will. And I went home and I copied the puppy sale. So I priced the 88 departments exactly alike, different floors, different locations, views, no views, no kitchens, did have a kitchen, had a back wall, whatever. Equalize them like the puppies. And I offered them for the same price, which now you'll say, why wouldn't people buy them? But not a great price at the day, but they were all flat priced at $59.99, inch under $60,000. And I had almost 180 people waiting for me the morning.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“The puppy sale, which my mother took us to visit our grandpa ward down in New Jersey, this shoreline. My mother made us sit and watch the farmer next door who was having puppies Jack Russell's for sale, and she had maybe eight or nine puppies to sell. And there was a long line of fancy cars, cars I had never seen so fancy.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, was that good? I made a juicy 1.225 million dollars in one day, three hours to be exact. That was another idea they said I couldn't do. Huh, they were wrong. There was no law against. I checked the law. Okay, what I did was it was a terrible real estate market. It was when interest rates in the early 80s, I think, late 70s, were 18%, so no one bought real estate in New York. Nobody would dare buy unless you had all cash and very few people. So I thought of this idea, I copied it from a puppy sale that I went to with my mother. I guess I won't give you that detail. I'll tell you how I applied it to real estate. I'm curious.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT
“But they all bend against me and wanted to throw me out of business. And that was tenuous. It was a rough time. But that was something trying to do things differently that didn't pay off so good, really. If I had to do over again, I wouldn't have done it.”
2024-03-06 · The Tim Ferriss Show · #725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul · IDENTIFIED FROM THE TRANSCRIPT