You walked out the door with the listing contract signed and an offer is only days away, or so you thought. The next thing you know, 30 days have gone by with no offer. But it gets worse. When faced with the dreaded price reduction conversation, your seller slaps you with every reason in the book for why they can’t (or won’t) do it. What went wrong? You didn’t ask the important questions ahead of time. Caught up in the thrill of getting a listing, you neglected to dig deep for the answers that would determine whether this seller was truly motivated and ready to yield to the market. If you’ve ever found yourself in this scenario, its time to learn a brand new way. Get your game face on and learn the secrets from our pricing playbook that put you in control of pricing your listings to sell – every time!
Today our theme is “Don’t go until you know.” Know what? There are several key answers you must have from the seller before knowing if this is a listing you even want to take! Not all listings are created equal. Sadly, many agents work hard to acquire listings in their inventory, only to end up with a bunch of unqualified and overpriced sellers instead of actual sales. So, why do sellers insist on overpricing their home? It may not be a cut and dry as you think.
Secret: Sellers overprice out of either Ignorance or Arrogance. Ignorance is when they just don’t know how to price a home (square feet matters, bedrooms, baths, views, condition). Arrogance is when they won’t listen to comps and have reasons other than real value to try to justify their price.
You won’t be able to do much about arrogance (though you can try), but ignorance is an opportunity for you to sharpen your skills in pricing and really convey to the seller why their home is worth that is, rather than what they think.
Listen on as we discuss the ways you can reframe the pricing discussion and arm yourself with the information you need to help the seller understand how critical pricing it right the first time is to their final result!
