Ask questions prior to meeting in person. That puts you on offense. When do you want to move? Why are you selling? Let me do some computer analysis work for a CMA and when can we get together? Is tomorrow at 11 good or the day after at 10? ( this is called the “either or” close)
In MLS, pull up comparable properties for sale and go “preview” a few. This is because when listing a home, pricing will be your main discussion with the seller. But the seller will make the decision. You bring your comparables, some of which you walked through.
Keith’s pricing strategy based on a CMA:
The right way:
When walking through the competition’s houses, put yourself in the buyers’ shoes. Buyers are looking for a deal.
You walked into a comparable house for $500,000 just down the street. Nice, but your subject is better. So technically, we would price ours at $510,000 because it’s better. But price it at $490,000 and it’s an obvious DEAL for the buyer. It generates a feeding frenzy of buyers all competing with each other with escalation addendums. This will usually bring offers higher and will get it Sold faster. Always use the “Coming Soon” status to start feeding the excitement.
The wrong way:
Pricing too high and then slowly dropping the price when it does not sell, will be a disaster for the seller. Once the excitement of a new listing becomes a stale property, the time on the market and ultimate sales price drops considerably.
When going in for your listing appointment, have your listing agreement all filled out except the price. Fill that in when decided. Once it is signed, do not stick around. You should leave. Submit the listing in case processing sheets for Paul to sign so you can return a copy to the seller.
Don’t forget to get the buy side too: Have you thought about when and where they want to move to? I can start sending you some homes to look at.
What are three things you need in a home in order to buy it?
This is another National Realty Training in a Minute.