MAPS Coaching...Price it right scripts and dialogs.

Price it right!

Looking for some backup when explaining to a client why the highest listing price does not translate into the highest sales price?

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Want to get top dollar for your home?

Despite the fact that declining home prices have been grabbing headlines for several months now, it can be a challenge for any of us to let go of what we had hoped our home would sell for. 

It's often the case that, prior to listing their homes, sellers interview a few agents, with a plan to sign on with the one who agrees to list it at the highest price. With the understanding that the listing price is ultimately the decision of the seller, not the real estate agent, I'd like to explain one of the most critical dynamics that impacts the actual sales price of a home.

Whether we are in a buyer's market or a seller's market, the same principle applies. The most effective pricing strategy for getting top dollar for a home is to price it competitively. This might not seem to make sense at first, but study after study, as well as my own personal experience, has proven that when a competitively priced home hits the market, it generates an instant buzz. Agents begin calling their prospective buyers and lining up showings to ensure that they don't miss out on a great buy. Bidding wars can even break out.

Let's contrast this situation to what happens when a home is priced higher than comparable properties. Neighbors and prospective buyers take one look at the listing sheet, and dismiss it as overpriced. The home sits on the market and sits some more. Eventually "REDUCED PRICE!" signs go up. The market starts to wonder what's wrong with the house since it hasn't sold.

Eventually, sellers take it off the market or agree to sell it for a much lower price than they had originally hoped.

In any market, competitively priced homes sell quicker and command a higher selling price than homes that factor high hopes into the pricing equation.

As a real estate professional specializing in the _________________ market, I diligently track trends as they pertain to the pricing and demand of homes. Want to learn more about how to sell your home quickly and at the best possible price?  I'd love to talk with you.  Contact me any time at (phone number or email.)

Agents: More tough talk on pricing

The first step to getting a home sold for your client is to price it correctly from the start. You do that by following the downward or upward tick in home prices in area neighborhoods and through an examination of local market trends.

Although you bring carefully researched information to the table, sellers still want to "chase the market" to get the highest price for their home. Use the following talking points to help clients understand the realities of the market and what they need to do to get their home sold for the best possible price.

To the point: Super short pricing scripts

1. The National Association of REALTORS® tracks statistics for us and they state that ten showings, no offers, or 2 weeks without a showing means the home is overpriced.
2. I don't make the market, I only interpret it.
3. Don't kill the messenger. I am only delivering the message the market is stating.
4. Anytime you feel uncomfortable then you know I am telling you the truth. You do want a Realtor to be honest, don't you?
5. If you went to a doctor and the doctor knew you had a terrible disease, would you want them to tell you or would you rather have them say, "Go home and enjoy." Of course you would want to know what you had and what to do to get better.  Well, I'm the professional, like a doctor, and I am telling you the market shows we need to price it right. Otherwise you are going to have a terrible disease called No Showings. And when you have no showings in a market that is going down every month, then you are losing money daily.You want the most money, don't you?
6. Have you ever been to an auction? It's amazing to watch the bidding go up and up when more than one person is interested in buying the object being auctioned. Well, by pricing the property low enough, you can possibly create an auction effect. As I stated earlier, buyers buy the home with the best value. When you price yours to be the best value, you may have more than one buyer interested creating an auction effect, driving the price up, getting you more money. You did want the most money, right?