Lots of listings are nothing to brag about — unless they sell, and they only sell with the right price. In a market that is changing, it’s even more important to sharpen your pricing pencil to avoid the dreaded price reduction phone call — or worse yet — losing the listing after it expires.
So before you head out the door to take those listings, stay put until you know these things:
- What the seller wants, needs or thinks it’s worth. Know before you arrive.
- The average days on market for homes like your subject property. This helps set the sellers’ expectations.
- The list-to-sell price ratio. This helps you combat the “price it high, we can always negotiate” objection — or it helps you know if you can price it right on the mark and expect to get slightly more.
- Know the number of homes competing with your subject property.
There’s more rules to know and scripts to master if you want to become a pricing guru. Tune into the first part of this series to hear how to use them and when.
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Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.