When dealing with a Seller, do you sometimes find that they are unrealistic about how much they want for their home? Do you find yourself wanting to ask for price reductions right after you put the house in the MLS? Do you not always know how to bring up the topic of a "price reduction" to one of your clients? If you are having difficulty getting price reductions or are continually asking your clients for a price reduction, ask yourself:
- Did you take the listing hoping to get a price reduction without first educating your Seller about the market?
- Do you find yourself taking over-priced listings often?
- Do you provide feedback to your Sellers?
If you answered YES to any of the above questions, you are most likely not taking the time to educate your Sellers prior to taking the listing. By educating your Seller to the market conditions, you will be able to list the property at a price that will result in a faster sale. Then when a Seller is provided feedback about showings, they are more likely to reduce the price of the property into a more saleable price range.
I will implement a Seller Presentation and Follow up Process that includes educating my Sellers to the current market conditions. My Sellers will receive weekly calls from me with valuable feedback from showings as well as information about homes that have sold in their neighborhood. By educating my Sellers before and after I accept the listing, I will have realistic Sellers whose properties will sell quickly.
This week's document: Understanding The Real Estate Market
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