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Make Them Think!!
Most sellers like to play a game when it comes to pricing or price reductions.
How many times have you heard some version of... You're the expert... we want to know what you think?
Don't take the bait!!
They really don't want to know what you think. They just want to find out if you are thinking... what they are thinking.
They want confirmation of their thought process more than your opinion on price.
Zillow is a great way to determine what your seller is thinking about price.
Agent: You probably looked at Zillow.
Seller: We did.
Agent: Zillow showed $1.2mm. That probably seems low to you.
Seller: It does.
Agent: You are probably thinking more like $1.5mm.
Seller: We would love to get a $1.5mm however we are probably thinking closer to $1.3mm.
This strategy will work most every time.
1. You give the Zillow price.
2. You say... You probably think this is low.
3. You go really high with your next number, way higher than market value.
4. They will correct you.
Here are some other pricing dialogs to get sellers thinking in terms of reality...
Let's talk price. You probably have a specific number in mind.
When it comes to price... how do you want to position your home against the competition?
What are you basing your price on? (Remember, always have the seller defend their price, not the other way around.)
In terms of pricing your home, what outcome are you most hoping to avoid?
I am not here to convince you that your home is not what you think it is worth. I do have one question for you. What if the best buyer in the market right now, is not willing to pay you what you think your home is worth? What will you do?
If for some reason... your home is not selling at the price you want... how will determine the right time to adjust your price?
What scares you most about having to make a possible price adjustment?
How long are you willing to be on the market without getting an offer that is acceptable to you?
Some more pricing thoughts...
Seller -
We don't have to sell...
We are not in a hurry...
We will only sell if we get a certain price...
Our neighbor's home sold for $x and we think our home is better...
Agent -
It sounds like the sale of your home is conditional on achieving a certain outcome...
How are you going to make the decision to sell or not?
What would convince you that it is probably better to hold off vs. putting your home on the market right now?
It sounds like not selling is definitely an option for you...
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Again, make the seller think.
Never make the seller wrong and understand it is not about convincing them with facts, logic, and reason.
This is an argument you are not going to win or should you.
Instead, make them think to find out whether there is any motivation to be realistic.
When the seller throws up the smokescreen of "I don't have to sell"... give them an out and see if they take it!!
Remember...
The person in front of you is talking.
When it comes to price...
What are they saying?
Listen...
Make them feel understood...
Make them think...
Find out if there is an opportunity to move forward or not.
You cannot help people who don't want your help.
When you are the Favorite, they will trust your guidance.
When you are the Fool, they want to make you wrong.
Here is the link for the monthly Black Swan calls - MONTHLY BLACK SWAN CALLS.
You can register at any time.
Please email [email protected] with any questions about this program.
Also... SPECIAL ANNOUNCEMENT
In June of 2023...
We are going to do a live 2 day program with Chris Voss and the Black Swan coaches.
The location will be either Los Angeles or Las Vegas. If you would like to get updates on this program - dates/ location/ pricing... please email [email protected] with BLACK SWAN in the subject line.
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Don't forget to check out the 4-part video series that is the perfect compliment to the book:
The Full Fee Agent 4-Part Video Course [Non-Compass Agents]
The Full Fee Agent 4-Part Video Course [Compass Agents]
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