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Today’s show is part 2 of 11 MUST ASK Seller questions. Know the answers to these critical seller questions before you go on the appointment.
4 – Know the number of homes competing with your subject property. What are you up against? Is it the only choice? Which neighborhoods compete with your subject property? What will the potential buyer for this home also be viewing?
Secret: Always take appraisal classes for your Qualifying Education courses. This will help you hone your pricing skills.
5 – Know if there is new construction in the area which competes with your potential listing? Remember when builders provide in-house financing they often can sell a more expensive home for the same payment as your resale. New construction is not always listed in your MLS. Google for new construction in your zip code and use NewHomeSource.com to search for what’s being built. Visit the model homes so you know what you get for the money and if there are special financing deals offered.
Secret: A resale home listed for $350,000 may be competing with new construction as high as $500,000 if the builder has buy-downs and incentives in place.
6 – Know what the seller’s time frame is. Ideally, when do they need to close and move by? Have they considered buying first and selling second? Building? Are they relocating? Timing is often more important than price and may affect your strategy. You can also use this information to close for the signature. “So we can accomplish your goal of selling before the new school year, now is the best time to get your home on the market.”
7 – Know the seller’s motivation. When you know why they want to / have to move, you can use this to stay on task during the appointment, referring to their needs and making it more about them than about you. Your job is to be a problem solver! Again, this knowledge helps you close.