Week #10: Pricing Property
There are always going to be agents that will over price listings. There will always be agents, that out of desperation, will cut commissions.
A strong agent is showing their Buyer the exact CMA to decide what to offer on your property.
- Remember you are not technically responsible for the price — The market is. You are the messenger. We can’t take credit. If its priced too high the market will not look at it.
- Our success in getting listings sold always starts with the price and ends with the price.
- Market stats are critically important. This gives you strength and confidence when you walk into a Sellers home.
- Tell them the truth — If you are desperate you will not tell them the truth.
- In the pricing issue – If there are lots of showings and no offers – It’s overpriced. If there are no showing and no offers — Its overpriced.
- You have to explain to the Seller that no matter what’s going on — prices are fluid. Some days are up, some days are down. They do not always just rise. This is based upon the market and what the competition is doing. know your Market stats.
Homework
- Continue spending your time role playing your listing presentation for 30 minutes a day
- Start previewing more property when you can to get a better indicator of what the market is doing
- Review your inventory this week and if they are up for a price reduction