Do you have a specific process to assure you list properties that sell? In many areas of the country, the market has turned from ‘list it at almost any price and you’ll have 3 buyers bidding’, ‘to list it with precise laser focus to get it sold.’ There are several sales skills agents need as the market changes to assure they will be able to list the home at the right price. One of the most important skills is to explain to the seller why listing at the right price is so important. There are many answers to this question. In this blog, I’ll share one dialogue. Now, to use this dialogue, you must have intestinal fortitude—that’s the guts to be prepared to walk away!
For many more dialogues, see Your Client-Based Marketing System—the complete seller marketing tool).
First, Decide What You Want
Sellers are pretty clever. They will say, “I just love you, Carla. You are so professional! We want you to list the property. But, we want our price.” So, you’re flattered. But, ask yourself, “What do I want? Do I want a listing and happy sellers for a short period of time, only to disappoint them when it doesn’t sell, or do I want a long-term professional relationship based on trust and honesty?”
I hope you answered the latter. If so, this dialogue is for you. Here are the five steps:
1. After the seller states his price, ask, “If I were to list the home today at your price, on a scale of 1 to 10, 10 being high, how would you rate me in customer satisfaction right now?”
2. “What would cause you to lower your rating?”
3. “If the house doesn’t sell within ______ days or ________weeks, how would you rate me?”
4. “I would rather turn down your listing now, and have you refer me to others, because I was honest with you now, than take your listing today to please you—and disappoint you greatly when your home doesn’t sell.”
5. “I assume you expect me to market your home to a ‘sold’ sign, not just put up a sign and wait for something to happen. I know I can’t get a ‘sold’ sign on your home at this price, so I don’t want to promise you something that I can’t deliver. My reputation isn’t worth a sign on your property.”
When you start using this dialogue, you will be amazed that you will have sellers stopped in their tracks, because you told them the truth! The majority of the time, this dialogue will re-open the question of pricing, and you will list the property at the right price.
Last question: How much ‘substantiation’ do you have to prove your price is right? Watch our next blogs to get ideas on how to gain credibility.