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Debbies’ Tip’s – Real Estate Pricing and Price Reductions for Realtors

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Hello welcome to Debbie’s tip for today. Today we’re talking about pricing and price reductions you know as I travel across the nation I hear stories that in many markets and many price points the days on market is starting to build now of course in some markets especially high-end resort markets having properties on the market for many many months is just normal now I do find though that for many agents increased days on market can create stress and worry worried about keeping the sellers satisfied that they’re doing their best to get the property sold so I wonder is this ever a challenge for you if so then you’re going to want to listen carefully so step one be a market expert and fine-tune your skill of pricing properties so this means you need to know the stats the area the demand you need to be able to guide the sellers in selecting a price that will actually allow the property to be sold in a reasonable amount of time step two be honest about the price but also give them options and work with them to select a price that meets their timeline step three when in doubt ask your friends in real estate in the local market to view the property and give you their opinion step four if you’re still uncertain if there’s not enough data consider recommending an appraisal this may be critical for unique and unusual properties step 5 consider laying out a price reduction strategy an adjustment plan at the table now do this after you take the listing now we have a great script for this and if you want to email me Debbie@excelleum.com I’ll send it to you now that you’ve done your best be committed to calling your sellers each and every week and be very very specific about the recommendations the directions that you’re giving them that will allow them to get the property sold and also be honest about the feedback the online activity and the things you are doing each and every day each and every week to get the home sold so be strong be confident and tell them what they need to do now they may not always listen right but I have a theory if you’re going to keep that listing then you need to keep asking because you owe it to them as the professional that they hired to be relentless and helping them achieve the goal that they have set right so if you’re not going to buy the house you can’t take responsibility for the fact it hasn’t sold but what you can do is you can do the activities that you promised be very consistent in your connections and communication and be patient and strong and confident and tell them what they need to do have a great day I’ll talk to you soon.

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