Price Reduction Script Flashcards
“Its a price issue”
“This is not an issue of exposure, it’s an issue of price. Every buyer that is looking for a home in your area, in your price range, knows that your home is for sale.”
“They’ll think the house is weird if it sits for too long”
The longer it takes to sell, the more money you lose. Time is money! Listings do not have a shelf life. The longer it takes to sell, the less it will sell for.
And When houses sit on the market unsold, buyers start to question whether there is something wrong with the house.
Can you imagine buyers wondering if there is something wrong with your beautiful house just because it’s been on the market for too long?
“Price it correctly or it won’t appraise”
Its very important that we price it right or it won’t appraise; therefore,
even if a buyer is willing to pay a higher price, it won’t close. maybe we should consider an appraisal so you don’t just take my word for it.
tip. 1
Remind them that they will sell for less and buy for less also. If they
wait for prices to go up, they will sell for more and pay more for the
home they will buy.
Ask for the reduction that you need so you don’t need to keep asking
for reductions every week, which further aggravates the seller.
Call the seller and go straight to the point.
Price reduction opener
“I’m calling to give you an update on what’s happening with your
property and based on the response we’re getting and what’s happening in the market, we need to adjust the price.”
“I want to assure you that my goal is to sell your home for the absolute highest price this market will give us.”
comfort + shift source of price change
“If it was up to me, I would sell your house for one million dollars (use
a dollar amount hundreds of thousands higher). Unfortunately, I don’t
determine the price. Buyers determine the value of homes and how
much they are willing to pay.”
Reasoning
“When a house is priced right, it will get 10 plus showings in the first
week and it will get an offer.
If it gets 6 to 8 showings in the first week but no offer, this indicates that the price is high. If it only gets 1 or 2
showings in this market, it means that the house is 10% or more overpriced.
Based on the activity and feedback that we received, I recommend that we adjust the price to X today. Do I have your permission to do that so we can get you to ______ by ________.
Client upset
“I understand that you are not happy… and I’ll tell you… this is the
least favorite part of what I do. I’d much rather call you with an offer…
and unfortunately… for us to get an offer, we first need to have this
conversation.”
Updated CMA
“Pricing property is not an exact science.”
“Price is a moment in time.”
“Prices are fluid, they go up and down based on what other sellers
choose to list and sell their homes for”.
“With this in mind, it is my job to
keep you informed as to the recent activity in your area.”
“I prepared an updated market analysis, and I’d like to go over that
information with you now.”
“As you can see, in the last 2 weeks, these properties came on the
market at X prices, these were reduced to X, these went under
contract and these closed at X prices.”
If no new listings, price reductions, pendings or closed since your last conversation and/or they are the lowest priced active…
“You’re the lowest overpriced listing in your area.”
“If you were my brother (sister, mother, father – whatever is
appropriate), I’d be telling you to adjust the price to 450K today.”
“In a hot market, selling a house is a beauty contest. In this market,
it’s a price war.”
“I’d rather disappoint you now than 6 months from now when you’re
home doesn’t sell.”
“If we don’t go to ___K today, we’ll be talking about ___K in 30 days.”
“Buyers shop by comparison. If we stay at this price, we’re helping the
competition sell their home.”
“In this market time is not your friend. If we don’t… do the right
thing… and do it quickly… we will just be chasing the market down.”
