Setting Expections - Price
The National Association of Realtors states that if we go two weeks without a showing, or we have ten showings without a single offer, then it’s time to adjust and improve the price of your home. So, if we go two weeks without a showing or we have ten showings without an offer, then I want you to expect a call from me. At that time I’m going to ask you adjust and improve the price so that we can accomplish our goal of selling your house. Remember, I don’t make the market, I simply interpret it – does that make sense?
Source: MAPS Power Hour
What do you do differently than other realtors? / You are just the same as other realtors/real estate groups
That’s a great question! You know, some realtors put the sign in the yard, place it on MLS and pray that somebody else sells the property for them. We kinda go an extra step. We do prospecting on behalf of our sellers and we aggressively market the home to get that property sold for top dollar in no time. It is definitely a different experience with us than any other realtors. How does that sound?
Do You Have A Buyer?
We absolutely have buyers and I am really calling today to see if you are interested in selling. What are the circumstances that would enable you to sell?
Getting an Email Address
What is a good email address where we can send the market analysis and also a little information about our team and how we work?
Seller's Motivation
- Do you really want to sell your house?
- Are you willing to price your house to sell or do you want it to sit on the market?
- Do you want me to sell it for you?
Pricing To Sell Is Based On Understanding What Is Selling
Mr./Ms. Seller, some of the things you can control during the selling process are the condition of your property, the availability of your home for showings, and your positioning in the market. In the end, value is determined solely by what a buyer is willing to pay in today’s market, based on comparing your home to others currently on the market for sale. I don’t determine value and neither do you. The market determines value. Does this make sense?
Source: Ignite
Address Pricing Honestly
Do you want me to tell you the truth, or do you want me to tell you what you want to hear?
If a seller insists on a higher than market price, get agreement now that if you have not had a bona fide offer in a reasonable (short) time period, you will reduce the price to your recommended price.
The first few weeks your home is on the market are the most critical and will attract the most serious buyers. If we don’t get a bona fide offer in this time, the market is telling us the home is overpriced. If after three weeks this is what’s happening, do you agree to reduce the price to my recommended price to meet market demands?
Source: Ignite
Explaining the CMA
Mr./Ms. Seller, would you like to obtain the highest price possible for your property?
If “no,” dig deeper. If “yes,” continue.
To achieve the highest price possible, you must have maximum exposure to the marketplace. The most important decision you will make in this respect is where you decide to price your property. The way most sellers establish their listing price is with a Comparative Market Analysis, what we call a CMA. (take out your CMA pages)
As you can see from this CMA, the average market time in our area is 60 days*. This means that if you want to sell your property in less than 60 days, you have to be in the top 50 percent in terms of price and property condition. To sell in 30* days, you’ll have to be in the top 10–15 percent in terms of your price and property condition.
*You will need to find out the correct numbers for your marketplace and customize this script.
Source: Ignite
Determining The List Price
Mr./Ms. Seller, the most important decision you will make is where you will price your property. Pricing your home at fair market value will attract more buyers. Attracting more buyers normally results in a higher purchase price. Overpricing your home results in a longer market time and possibly a lower price.
Would you like to price your property to sell quickly, or will you price your property where it could take longer to sell? The choice is yours. What would you like to do?
Source: Ignite
Listing Presentation: Closing The Deal
After studying the comparables, taking into account the unique characteristics of your home and its setting, and using my knowledge of the averages in your neighborhood, I have prepared my recommendation.
Remember that my primary goal is to net you the most money possible. And I believe this pricing plan, matched with my 14-Step Marketing Plan, will draw agents and buyers to your home and position it as a highly appealing and highly competitive property.
After looking at everything I’ve presented about condition and price, what are your thoughts? Do you agree with this price recommendation? Is this what you’d like to list your home for? Are you ready to make a decision to work with me?
If Yes:
Great, it sounds like we’ve got a price and are ready to put a sign in the yard. Let’s do it and get this house sold!
Source: Ignite
Seller May Not Be Willing To Bring Property Up To Standard
Seller: All the agents that have been through have loved our home and have told us how nice it is.
Agent: [Insert Seller’s Name], I can appreciate that. You do have a very nice property, otherwise I wouldn’t be here. The ultimate question is: are those Realtors going to buy your house?
Seller: Well, no I don’t think so.
Agent: Just out of curiosity, let’s pretend you were a Realtor and in order to make money you had to attract buyers so you could sell them a home and you know that most buyers call from the signs in front of homes. How many signs would you want to have out to attract buyers?
Seller: As many as I could.
Agent: That’s right, all Realtors would. And let’s say you came to my home and you didn’t care if my home sold as long as you could get a sign in front and attract a lot of buyers. Might you tell me anything I wanted to hear in order to get your sign in front of my house, attract a lot of buyer calls and sell them other houses?
Seller: Yes.
Agent: the agents that were here before me may not have as high of standards that I do. Maybe that’s why the homes that have my signs in front of them also have sold signs on them. You want an agent that tells you the truth right?
Seller: Yes I do.
Agent: Believe me, if I didn’t care if your home sold for top dollar and I just wanted the buyers off your sign, I would be telling you the same things as all the others. It is important that you know: (1) I tell the truth no matter how uncomfortable it is, (2) I get sellers more money than almost any other Realtor in my area, and (3) I get more money in less time because the standards I have for my sellers are placing their home on the market in the best possible condition so it screams value over all the other homes a buyer is comparing their home to. Because my sellers want the most money and the quickest sale possible they bring their home to the highest standards and you do want the most money right?
Seller: Absolutely
Source: MAPS Power Hour
Seller Pricing - Position Your Expertise
If you went to the doctor and the doctor told you that you had a terrible disease, would you want to be told the truth, or would you rather be told, “Go home and enjoy.” Of course, you would want them to tell you what you had and what to do to get better. Well, I am the professional, like a doctor, and I am telling you the market shows we need to price it right. Otherwise you are going to have a terrible disease called No Showings. And when you have no showings in a market that is going down every month, you are losing money daily. You want the most money don’t you?
Source: MAPS Power Hour