MLS & Associations

3 ways to bring sellers down to earth

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

As the market heats up and inventories shrink, sellers are once again becoming more aggressive about overpricing their property. Seriously overpriced listings still don't sell, even in the best of markets. What can you do to persuade your sellers to be realistic? A major reason that sellers overprice their properties is that their agents have never mastered the scripts and strategies that will persuade sellers to be realistic. Below you will find three of the most powerful approaches to meet the overpricing challenge. 1. What properties have qualified for When you go on a listing appointment, sellers generally want to price their property based upon what other properties in the area are listed for, not based upon the closed sales price. The way to overcome the seller's attachment to list prices is to explain, "Mr. and Mrs. Seller, in order for your transaction to close, you need a qualified buyer, right? Did you know, however, that your house also has to qualify?" Mos...