By Julie Escobar
Ever have a seller who wants to WAIT to price the listing right?
Here’s a strategy that I call ‘The Waiting Game’ – see if it will work for you…
Try this dialogue when a seller wants to wait to lower the price: “Let me ask you, what do you think happens to an overpriced home that doesn’t sell right away? Do you think it eventually sells? I’m afraid, more often than not, the answer to that is no. Listings get the most traction in terms of buyer traffic, agent attention and offers in the first 2-4 weeks after coming on the market. If you wait, you’ll lose that traction.
Worse than that, the longer it sits on the market, the more buyers will begin to wonder if there are more serious problems than price in terms of why it hasn’t sold yet. Think about it…what’s the first question you would ask when you look at a new house? How long has it been on the market – right? Long time on market = problem in the eyes of a buyer. In this market, or any market – that’s not a position that can give you any kind of leverage. Let’s price it right and get it sold.”
Agents and managers both –– One of the best ways to really fine tune your negotiation and objection handling skills is to get together once a month with respected colleagues and role play. (I have the old Sweathog mantra in my head – “practice, drill, rehearse…”) Have everyone bring their best objection to the table. Then collectively come up with some dynamite dialogues, strategies and visuals for overcoming and handling those objections together.
If you’d like to learn more price objection handlers – check out 21 Ways to Price Your Listing Right in Any Market (Despite the Seller’s Best Objections!) at www.prospectsplus.com/21Ways.
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