My CMA Template Helps Calm The Nerves (Link Below)
I'm sure we've all sat at that kitchen table, surrounded by lovely sellers, a tidy house, and a sense that the property is worth a whole lot more than anything comparable on the street. And that number in their head?
It didn't come from anywhere near the real market - it was conjured up by what the neighbor down the street MIGHT have gotten, or what they simply need to clear in order to move on to their next dream home.
For years that was the conversation I dreaded the most - the one where you try to convince sellers that the market says something different from what they're adamant is true.
Early on, I'd give in a bit - list the property a fraction higher than I knew I should, just to keep everyone smiling, and then spend the next couple of months trying to talk myself down from that lofty price.
By the time we finally got it right, the listing was stale and we were left with a lower sale price than if we'd got it right on day one.
But, it was only when I changed my approach that I started to get it right. Showing up with some solid data that just can't be argued with - laid out clear as day so the number did all the talking for me - was the key.
A few things that made the difference.
Its all about the tight comps, not just loads of them. Compare four homes from the same neighborhood that sold in the last 3-6 months and they're far more convincing than ten houses from all over town.
When a seller sees four homes that are just like theirs and what they ACTUALLY sold for, it stops being about feelings and gets down to business.
Don't focus everything on averages... adjust! The comp with extra rooms or a finish basement isn't the same as your own home. Show them how the differences impact the price and it stops being a vague number.
Name the cost of overpricing out loud. I just tell sellers straight out: your first couple of weeks on the market get you the most serious buyers.
Price it too high and they'll skip straight on by, and then the longer it sits the more people start to think there's something wrong with the property. Most sellers haven't ever been told it that way but it really lands.
But, what really changed for me is that I no longer start from scratch building a whole new CMA every time.
I built one spreadsheet that I use for every listing; subject property, comps, an adjustment sheet that does the math, and a clean summary I can hand the client or save as a PDF. It works on either Excel or Google Sheets.
I've made it nice and easy to use and now I've made it free for any agent who wants it, along with the scripts I use in the pricing conversation.
You can grab it here, if you need it. → A Free Comparative Market Analysis Template I Wish I'd Had Years Ago
I wish more agents could walk into that conversation with real data and not guesswork. So, I'll let the rest of you weigh in...
how do you handle the seller who thinks they know what their house is worth 15% more than the market says?
Do you go along for the ride and then try to fix it later, or hold firm from the very start?
I'd love to hear from the rest of you in the comments.
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