If you can’t get your seller to reduce their asking price...
You are on the road to going broke.
Too many agents are more afraid of losing a listing than they are of telling the truth.
It goes like this.
The seller says, “We want to try it at £625k.”
The agent knows it should be £600k, maybe even £575k.
But instead of holding the line, they say “Okay, let’s do that.”
20 weeks later, the sole agency agreement period finishes, the seller is frustrated, and another agent picks up the pieces.
I’ve learned to set the stage on day one.
I would tell sellers, “We will go on that price, yet if in the first 14 to 21 days we don’t see serious viewings, the market is giving us feedback that we are too high.”
That way when I call them, I don’t have to tiptoe around it.
I simply say, “I’ve got good news and bad news. Which do you want first?”
Bad news: “We’re overpriced and the market has rejected us.”
Good news: “We can still get ahead of it by adjusting the price now and attracting a buyer.”
That conversation is the difference between being an order taker and being a professional.
You are on the road to going broke.
Too many agents are more afraid of losing a listing than they are of telling the truth.
It goes like this.
The seller says, “We want to try it at £625k.”
The agent knows it should be £600k, maybe even £575k.
But instead of holding the line, they say “Okay, let’s do that.”
20 weeks later, the sole agency agreement period finishes, the seller is frustrated, and another agent picks up the pieces.
I’ve learned to set the stage on day one.
I would tell sellers, “We will go on that price, yet if in the first 14 to 21 days we don’t see serious viewings, the market is giving us feedback that we are too high.”
That way when I call them, I don’t have to tiptoe around it.
I simply say, “I’ve got good news and bad news. Which do you want first?”
Bad news: “We’re overpriced and the market has rejected us.”
Good news: “We can still get ahead of it by adjusting the price now and attracting a buyer.”
That conversation is the difference between being an order taker and being a professional.
