One of the primary challenges in helping people sell their homes is getting their home priced correctly. When we sell anything, we set "the price we have to get" for that item. As a real estate agents, we all try to help our clients sell their home, and a very important part of this is getting the home priced so it actually will sell. But we all hit this pricing wall. So what can you do?
Even when you provide a detailed Competitive Market Analysis, look at active listings and undercontract listings for pricing trends, and try to help the seller set a realistic price, you still hear: "I've got to get this much out of my home". More times than not this number is far, far away from what the price should be to sell. So the next time you find yourself at this point with your client, try an analogy. Pull a $100 dollar bill out of your wallet (or a $10 or a $20 if you're like me), and ask the home owner how much they will pay you for that $100. When they respond, logically, "$100", tell them that you have to get $120 for it, and you can't sell it for less....and pause. Then draw a parallel to the real estate market, and say that it works the same way. It won't pay $120 for a home worth $100. Try it. Even the most stubborn will often will stop and rethink their pricing demands when faced with the sheer logic of this analogy.
Do you have a pricing analogy or strategy that works? I'd love to hear about it. I'm always looking for better ways to help my clients understand the process.