It's a BUY YOURS Market!

By
Real Estate Agent with Keller Williams Classic Realty

As a newer REALTOR, I hear that one of the most important obstacles we have right now is getting sellers to be realistic about pricing.  Everyone wants the most money for their home, in the least amount of time, with the least amount of personal hassle and inconvenience.  So we all rack our brains trying to find ways of explaining the market to our sellers in order to get them to understand what is necessary to achieve their goal. 

I think that most people are competitive by nature.  Sellers already feel that their house is the best one in the neighborhood, it has the best features.  They have that MINE IS BETTER mentality.  So we need to tap into that and turn it to their advantage.

What if we explained the market this way? "You certainly have a nice home here Mr. Seller and I am sure that in your view, you are more than justified in your asking price".  "But, there are 13 other homes in the neighborhood for sale."  "That's a lot of competition".  "What can we do to get someone to "BUY YOURS"? 

I'll try to get them to think about their home as a commodity and make it a competition to SELL.

"Mr. Seller, property "A" down the street is larger than your house and it's priced for less. What can we do to get someone to "BUY YOURS" instead?

"Mr. Seller, property "B" around the corner is smaller, but it has a new kitchen. How can we get someone to "BUY YOURS" instead?

"Mr. Seller, property "C" is the closest comparable property to yours and it sold for less, how can we get someone to "BUY YOURS" when they know they can find a home just as good, for less?  If that property sold for that price, we could get someone to BUY YOURS for that price. 

It seems so simple, I wonder if it would work in practice.  I have yet to get a listing appointment so I haven't tried it yet? 

Any thoughts????

 

Comments (2)

Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Hi Mark, Welcome to Active Rain.  I thought I'd stop by your blog after you visited and commented on mine.  Glad that I did.

I like this concept.  It makes the client stop and think.  I'm not sure that people can take the emotion out of their own home.  I know in spite of all the facts, even I have a hard time doing so.

One of my favorite comments on Active Rain by a Real Estate Agent that was discussing the same concept as you.  Her comment was:

"Well Mr. & Mrs. Client, when do you want to sell your house?  Today or 3 years from now?

 Pretty much says it all!! eh?

 

Dec 05, 2007 08:40 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection
Mark - I really like it.  With that approah I think you will do well.   Please let us know when you get your first listing.
Dec 06, 2007 04:23 PM