Home > Blogs > Bryant Tutas > Broker Bryant's Real Estate Ramblings

"Broker Bryant, how much is my home worth?"

By Bryant Tutas

Real Estate Broker/Owner with Tutas Towne Realty, Inc and Garden Views Realty, LLC BK607690

March 03, 2008 08:02 AM

Hi folks. Are you having difficulties getting Sellers to agree on pricing? If so, maybe you are approaching it wrong. Try this.

"I'm not here to tell you how much your home is worth I'm here to tell you what it will take to get it sold." That is my opening line on my listing appointments. My goal is to get the Sellers emotions out of the deal.

In my market right now, I spend a lot of time meeting with Sellers who have properties that have declined in value since they purchased them. It's difficult when I have to tell a Seller their house will sale for less than they owe or want. But I have to be honest with them.

So by opening with "I'm not here to tell you how much your home is worth I'm here to tell you what it will take to get it sold." I am setting the ground work for my entire presentation. The best thing about this phrase is that it covers just about every pricing objection the Seller can throw at me.

"But Broker Bryant we just had an appraisal done 6 months ago that stated our home was worth $220,000!"

"I'm sure you did but I'm not here to tell you how much your home is worth I'm here to tell you what it will take to get it sold."

"Broker Bryant our home is worth much more than that!"

"I agree....but I'm not here.........."

"We paid more than that and we spent another $20,000 on upgrades!!"

"And it looks great.....but I'm not here..........".

"Broker Bryant we are not giving our house away! We know it's worth more than that."

"And you shouldn't give it away. It is certainly worth more than this but...I'm not here......."

"Folks, it's not about your house, you have a lovely house. It's worth all that you say it is but I'm not here........."

"Broker Bryant why are you wearing that stoopid pig suit"

"Folks, I'm not here to talk about my stoopid pig suit. I'm here to........

What I'm doing is getting them to "detach" from their home emotionally and getting them to think about market conditions. And I'm doing this by not disagreeing with them about what their home is worth. I can agree with them about what their home is worth because...."I'm not there to tell them what their home is worth I'm there to tell them what it will take to get it sold". Make sense?

***The picture was given to TLW by Danny Smith. So hands off!!! We miss you Danny!!!

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://www.brokerbryant.com/
***The content of this blog is solely my opinion***

Comments(64)

Comment

Show All Comments

Sort:

Loreena and Michael Yeo

3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX

Real Estate Agents

Woo hoo.... I've learnt to say this too. It sure sets the listing appointment to a whole new level.

Mar 04, 2008 11:25 PM

Diane Aurit

LKN Realty, LLC - Mooresville, NC

Lake Norman Real Estate

I like the many ways this statement can be used, especially some non-real estate related ones. But, seriously, thanks for the lesson Professor BB. As always it is most appreciated!

Mar 06, 2008 06:10 AM

Dustin R. Burke

Lakeland, FL

Lol... another great post. Thanks for the reminder.

Mar 07, 2008 05:48 AM

Todd Clark - Retired

eXp Realty LLC - Tigard, OR

Principle Broker Oregon

OH, I thought that was Bertha's prom date. Thanks for explaining that was you... (ROFL)

Your line is perfect and wow! Talk about giving away a gem of a line to use in a listing presentation! No one can argue with it because it isn't a arguable phrase. It is a reason why you are there, you are not giving them a price and you giving them why you are there. If they choose to listen and move forward all the better.

There choices are no longer "Price A" or "Price B" It is sell or not sell!

Thanks Bryant,

Mar 07, 2008 05:00 PM

Bryant Tutas

Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL

Selling Florida one home at a time

Todd, You got it man. I am limiting their choices and effectively getting them away from the "worth" argument before it even comes up. I'm immediately moving them into a pricing to sell conversation.

It's so much more than a simple little opening line. It works great!!!

Mar 07, 2008 11:48 PM

Karen Monsour

Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL

REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

BB,

I think I will try that on my listing presentation Monday...if I may?

Going to be tough on her when she paid $589K two year's ago and it will sell in the $400's - I hope.

Mar 08, 2008 02:02 AM

Ray Nellum

Envision Real Estate Group, LLC. - Fort Smith, AR

Fort Smith Real Estate

BB, I love the suit. You did a great job explaining a great technique. Often agent's get caught up in emotions as well and need to keep a level head.

Mar 08, 2008 01:12 PM

Anonymous

Royal Goodman

Well said. Good job.

Mar 10, 2008 06:51 AM

#52

Karen Rice Keller Williams Real Est

Keller Williams Real Estate - Hawley, PA

Northeast PA & Lake Wallenpaupack Home Sales

Love it!!! This is great psychology - you're not saying the home is "worth less" than they insist -

this is great. (I followed your link of 97 Posts...I'm going to read, or re-read, them all!!)

Mar 21, 2008 06:16 PM

Anonymous

Rick

Great advise! Thanks for sharing. I love the part about getting them off the emotions...there are emotions when purchasing AND when selling....Don't we all know that? People make up a decision to buy and then, then they justify it AFTER they fall in love with the home...

Rick

Jun 27, 2008 08:41 AM

#54

Debe Maxwell, CRS

Savvy + Company (704) 491-3310 - Charlotte, NC

The RIGHT CHARLOTTE REALTOR!

GREAT pig suit, BB and VERY sound advice, especially in this market!

Debe in Charlotte

Jun 27, 2008 08:46 AM

Anonymous

winston lawrence

Sounds good in theory and it may get you the RE-listing on the secod or third attempt to sell but a LOT of agents will just agree to what the seller wantsd just to get the listing thinking that they will get it reduced after the agreement is signed.

Winston Lawrence

Digitalbeat.com

Jun 27, 2008 08:51 AM

#56

Maya Thomas, Broker

Tampa, FL

Please see my client recommendations.

Fantastic!

Jun 27, 2008 11:39 AM

Jen Olson

First Weber Group Realtors - Marshfield, WI

Another great post! I used to be so afraid of "losing" a listing to someone else, that I would go into the listing appt with an accurate idea of price and end up caving in the end, and saying the infamous"sure we can try that price to start!" I recently began going into my listing presentations with an absorption analysis and comparables sheets and I have stuck to my numbers. Because of that I am proud to say that I have had accepted offers on the last 4 listings I've taken in 30 days or less (our market average right now is at least 100 dom)! I think your to the point opener will fit in well with my absorption chart, and I can't wait to borrow it from you! Thank you again!

Jun 27, 2008 02:33 PM

Marty Vacca

Prudential Pequot Properties - Westerly, RI

I woke up this morning with trepidation with my listing appointment scheduled for this afternoon. I'll be dealing with the son as well as the aged owner of the property, who is also a retired real estate agent!! Your line has helped me very well and it gave me food for throught for what I'm going to say to these people. It was just what I needed to fuel my knowledge and homework that I've already done to prepare myself for this appointment. Actually, it's not a "line", it's an excellent way to incorporate those words into a very powerful message to the sellers. Also, with others reponses to your post, there were more helpful messages that I will use. I especially liked the words from someone who mentioned ..'what someone is willing to pay for the house based on today's market" I have always known and believed a home is worth whatever someone is willing to pay for it. Also, one can give it to another agent, at the price that the seller wants, yet go through numerous price reductions to make the sale happen.

Great advice for my waking brain this morning.!!!!! And my mantra for the day is "Price is Right"

Jun 28, 2008 12:23 AM

Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA

Future Home Realty - Seminole, FL

Providing the integrity and service you deserve.

What a great line. I've used the "what someone is willing to pay..." before but this one is even better ("i'm not here to tell you...."). Love it. Thanks.

Jun 28, 2008 12:41 AM

Margaret Mitchell

Coldwell Banker Yorke Realty - York, ME

Seacoast Maine & NH Real Estate

Just discovered your blog, and what a great post. Thanks.

Jun 28, 2008 02:10 AM

Susan Zanzonico

Berkshire Hathaway Home Services - Morristown, NJ

Sellers/Buyers Agent, Morristown NJ Real Estate

BB, love reading your blogs. I notice that you have great dialogue and technique. Thanks.

Jul 16, 2008 04:56 AM

Eunice Waller