Training Article - How To Get The Listing Priced Right!

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Getting clients to reduce their price is problem that all agents face and it can be a difficult problem for some agents, both new agents and those who have been in the business for many years.

Here Is A 4 Step Plan You Can Use To Get Clients To Reduce The Asking Price:

STEP 1: Get It Price Right From The Beginning:

Get the property priced right when you list. Tell the seller the truth about the price. Be compelling and convincing.

Make the seller understand that the other agents want the listing and will not be so truthful. Tell them that while you want a sale, you are NOT willing to be dishonest.

STEP 2: Get A "Price Reduction Agreement" For A Later Date:

If you decide to take the home overpriced initially, then get a price reduction signed for a future date. Get the commitment that if in 30 days the property hasn't sold, they (the client) will drop the price.

STEP 3: Have A "Price Reduction' Campaign:

Create a specific "price reduction campaign" of letters and phone calls to the client... This is something you should already have or you can do up and then reuse each time that you need it.

The clients should receive information and guidance about the dangers of "over-pricing" their home. They need to know the importance of price, even if you clearly explained this during the listing appointment.

STEP 4: The 'Reduce Price' Or Cancel Approach:

After a while, you need to say "Enough is Enough", you cannot make money by listing homes that are over priced - plain and simple. If nothing else has worked, it's time to try one last time or drop the client.

Your time is much better spent focusing on your other listing and getting new ones... NOT EVERY LISTING IS A GOOD ONE!

Talk to the client in person or send a letter - include a "price reduction form" and a "listing cancel" form. Ask them, in a polite but serious way, to please choose one.

Training Article Summary

Over-priced listings had no value. In the long run, they will only cost you money and more importantly your valuable time and energy. Don't allow clients to dictate your success by their refusal to look at the facts objectively.

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