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Overvaluing in Estate Agency

ESTATE AGENTS .. Some of you are coming across overvaluing by competitors.. and find it hard to have a counter argument. Logically, we know many people whom go on the market for too much money end up selling for less than you originally said or don’t sell all

Yet people are emotional beasts and make decisions accordingly.

Shoving a ‘comp’ in front of their nose is logical... and humans aren’t logical

So here is an idea... why not spend some time (I know you are running around like blue ar$ed flies at the moment, so it will be tough) ... yet rack your brains of all the properties you have lost to overvaluing in the last 2 years ... and then go and look what they sold for.

Then look at what you valued it for and what correctly priced stuff was selling for. You only need a couple to make this work. 

Even better, find properties that didn’t sell 

Then, when you are up against it, whip these properties out ...

BUT BEFORE YOU DO ... the real magic is the ‘story of the vendor’. You tell the story of the vendor wanting their dream home but they lost out becuase they were greedy or had to take a lower price and compromise on the next purchase.

People are emotional beasts ... tell stories and they will listen.

Would love to know your thoughts on this?