As agents, in the course of preparing to meet with a homeowner, we can sometimes spend hours running comps to put together an accurate comparative market analysis (CMA) on the property. So, we get pretty good at determining a list price on a home for sale that'll generate offers quickly, yet not so low as to leave some of our clients' money on the table. Even with the hours that we spend comping a property with the client's best interests at heart, it's inevitable that we will have to defend those suggestions time and time again. The truth is, most homeowners have an unrealistic dollar amount that they think their home is worth, and it's our job to educate them properly. Sure, we want a listing, but in pursuit of it, we shouldn't take an overpriced suggestion that will ultimately leave a uninformed seller wondering why the house is still on the market months later. Here are a few ways that we deal with sellers when we encounter resistance on our listing price recommendation: ...
- Credibility builds trust with potential clients, which aids in the discussion of price.
- Thorough fact finding will uncover clues about why your seller might object to your recommended list price.
- Showing the seller expired and withdrawn listings can have a huge impact on your ability to drive your point home.