In a changing market, the hardest thing to deal with is sellers’ expectations. The market always changes. A smart agent uses the sellers’ motivation to help them get the listing signed.
We continue our series on the 10 pricing secrets you must know to sell listings in a changing market. They’re so important that we don’t want you to go on an appointment until you know these things. So take notes on these powerful questions, and get ready to be good at pricing.
5. Is there new construction competing with your potential listing?
Nearly seven out of 10 homebuyers will take a new construction home over a resale — even if the lot or neighborhood is less desirable.
6. What is the seller’s time frame?
Would a 30-day closing pose a problem for them, or are they ready to hunker down for the winter if it doesn’t sell?
7. What is motivating them to move?
Use this valuable information to keep the sellers focused on meeting their goals.
8. Are they listing and buying, or just listing?
This is the No. 1 question agents forget to ask, and they lose out on valuable commission because of it.
9. What happens if it doesn’t sell, or if they don’t get “their price”?
10. How did they contact you?
Track your source of business so you can repeat it.
Remember: working with buyers is manual labor, and working with sellers is mental labor. Listings require you to have more skills, and pricing is a skill.
Without the right price, your listings are like a carton of milk that has set outside the refrigerator too long — and gone bad.
Another way to ensure you get great at pricing? Do BPO (broker’s price opinion) work. Then you become the market expert and put mad money in your pocket.
Read part 1: “Podcast: 10 powerful pricing secrets in a changing market.”
Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.
Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.