Listed to Sold - the Favorit-est Tips!

Education & Training with Sell with Soul

Earlier this week we did a show in the SWS Virtual Studio called "Listed to Sold: Beyond the Old 3P's" where we discussed various strategies to getting listings SOLD so that our sellers can move on with their lives and we can enjoy a well-DESERVED paycheck. I say well-DESERVED because the premise of the show was that you can (and should) go way above and beyond the "Old 3P's" (Put a Sign in the Yard, Put it on the MLS, Pray) if your goal is to be the Best Listing Agent You Know (and I truly hope that IS your goal!). 

At the end of the show, I surveyed the audience to see what tip or tips they found the most valuable toward reaching that lofty goal, and here's what they told me:

Favorit-est Tip #1 (by far): Make your seller a partner in the pricing process. Show up with a detailed CMA along with clear summary pages, but don't include your suggested price. Go over the data with your seller and then ask them to sit on it overnight with a promise to call them in the morning to discuss.

Favorit-est Tip #2: Price is not always the best solution to a non-selling listing. Sure, recommending a price reduction is an EASY solution, but is it the best? Unless you're just grossly overpriced (and that shouldn't be the case, right?), there is probably something else that is keeping your listing from selling. And you can almost always fix the problem much less expensively than you can price for it.

Favorit-est Tip #3: Explain the two types of seller's regret

Favorit-est Tip #4: Don't overpromise and under-deliver in your marketing. If your listing has a substandard feature - e.g. a rickety garage - consider being upfront about the issue in your marketing so buyers aren't disappointed. In the example of a crummy garage, consider removing all mention of the garage in the MLS and let buyers be pleasantly surprised by the large storage building in the back yard!

Favorit-est Tip #5: Approach difficult conversations with your seller with a positive attitude "as if" you know they are going to be willing to consider your advice and suggestions. 

If you'd like to hear the whole show, the recording is available in the SWS Bookstore for purchase or you can join Club SWS and get access to all SWS teleseminars shows since 2010! Or, just join the SWS mailing list and be notified of all upcoming shows which are free to attend live. 



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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Donna Foerster 04/06/2014 07:35 AM
  2. Joyce Marsh 06/02/2015 08:01 PM
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Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Love the idea to make the seller a "partner" in the pricing process. Thanks for sharing with us!

Mar 28, 2014 01:04 PM #1
Andrea Ayres
Weichert, Realtors Pikes Peak Group - Colorado Springs, CO

Can't tell you how fortunate I feel to have found/read/stalked you so early in my career!  Your guidance continues to resonate.  (Can someone follow another person on FB, AR, LI, subscribe to their newsletter, read every book available, sign up for their webinars and NOT be considered a stalker or some sort?  Gosh, I hope so.)

Mar 31, 2014 01:41 PM #2
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul

I'm glad you like it, Donna - It truly works!!

LOL, Andrea!!!

Mar 31, 2014 10:43 PM #3
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Jennifer; so make sure your seller works with you to understand why their home should be listed at a specific price, do what you say you are going to do, look for alternative ways to sell the home, and always have a positive attitude. Sounds good to me! 

Apr 06, 2014 10:42 AM #4
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