Today’s show is sponsored by RED/X.
Question: Are you (finally) ready to become a LISTING AGENT? Of course, you are. Great news, this podcast is sponsored by Tim and Julie Harris’s favorite SELLER Lead systems. You read that correctly, this trusted company will provide you with the names, addresses, phone numbers of homeowners who want to sell….truly motivated seller leads. Best part? NO referral fees. What are you waiting for? Go there now and become a member. CLICK HERE NOW. When you do you will save $150 because you are a Harris podcast fan.
P.S. This is the same system Tim and Julie used when they were top-producing agents.
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This podcast mini-series was partially inspired by this email:
Tim,
This is just a quick note to say thank you. I’ve been listening to Real Estate Coaching Radio for about a year and a Premier Coaching member for almost that long.
I went on a listing appointment Sunday night and nailed it, thanks to you and Julie. The sellers agreed to let me list the home but as I was leaving, Mrs. Seller said, “I guess tomorrow I will have to call our old realtor and let her know we are going to work with you.”
It was awkward. I should have offered to make that call for her. You just mentioned that scenario on the podcast last week, even. But I dropped the ball and didn’t offer. The seller called me the next morning to let me know their past agent “took it hard” and they just had to use her because they are such good friends. I lost the listing because I didn’t act.
In the past, I would have wondered what I could have done differently. Now, thanks to you and Julie, I immediately knew exactly what I should have done, and I will never make the same mistake again. So thank you. Here’s to the next one!
God bless,
David Doty
Today’s show is part 1 of 11 MUST ASK Seller questions. Know the answers to these critical seller questions before you go on the appointment.
1 – What the seller wants, needs or thinks it’s worth! Pricing it right in the first place prevents future price reduction drama. Even if they’re thinking it’s worth more than the comparables, you must know by how much and how they arrived at ‘their price’… BEFORE you arrive at the appointment.
Script: (when they tell you a price too high): “That’s interesting Mr. Mrs. Seller, how did you arrive at that price?” Listen carefully. They may have different comparables than you, they may have a recent (or not so recent) appraisal or other reasons for their thinking.
Secret: Sellers overprice out of either Ignorance or Arrogance. Even in a hot seller’s market, there is such a thing as ‘aspirational pricing’…when it’s just WAY over market.
Ignorance in pricing is because they just don’t know how to price a home (square footage matters, view, condition, etc.)
Arrogance is when they just won’t listen to comparable sales and have reasons other than real value to try to justify their price.
Caution! When there is little or no competition and the seller is higher than your last higher comparable, you still MAY get that price or even higher. Don’t lose the listing because you’re being super strict on your price. This will change when the market changes.
2 – Know the Average Days on the Market for properties like your subject property. Not just for the town or zip code it’s in, but the actual subdivision or neighborhood. This helps set both your expectations as well as the sellers. It also helps you strategize with sellers who are both buying and selling. Which should they do first? What kind of timing should they expect? Will you need to negotiate a leaseback?
3 – Know the List to Sell Price Ratio for properties like your subject. Again, this sets expectations. Are homes selling for 100% of list price, 105% of list price, only 95% of list price? Is this a neighborhood where you can expect to get well over list or is there enough competition that you’ll have to negotiate?
POP QUIZ:
Please choose one answer:
1) I am ready to join EXP Realty.
2) I am interested in EXP Realty and need more info.
3) I am not interested in EXP Realty.
Key:
* If you answered “#1” congratulations. You are about to join the fastest-growing real estate company in the world. Tim and Julie Harris are inviting you to join them at EXP Realty. Text Tim directly for the next steps: 512-758-0206. (text only please)
* If you answered “#2” please watch the videos and check out the other intel on this site. http://whylibertas.com/harris .
* If you answered ‘#3’ no worries. You will want to check out whylibertas.com/harris so you can at least know what EXP Realty is and why so many agents are moving to EXP Realty.
