Objection Handling - Talking Listing Price with Your Seller
One of the toughest objections Agents have trouble with when it comes to working with Sellers is PRICE! How much will the property be listed at. Sometimes it can feel like an uphill battle with your seller, but it doesn’t actually have to be this way. In this video, Alexander Fazelani, breaks down how to talk listing prices with your seller. Truth is, if you feel like you’re “battling them” or trying to really convince them of a certain price…you’re approaching it the wrong way.
Get Your Comps on Point
When presenting a listing, it is crucial to have well-researched and relevant comparables (comps) to support your pricing recommendations. Start by identifying 3 to 6 expired listings in the higher price range that should have sold for more but didn't. Additionally, highlight properties currently on the market that have been sitting for an extended period due to overpricing. These examples demonstrate to the seller that setting the right price is essential for a successful sale.
Show the Competition
To further reinforce the pricing strategy, provide your clients with information about similar properties in the market. Request pictures of the inside of their house to assess its condition accurately. By comparing their property to others in the same price range, sellers gain a realistic perspective on their house's value. This approach ensures that the price aligns with the market and the property's quality, avoiding the pitfalls of overpricing or underpricing.
Cushion the Objection
When sellers express objections to the recommended price, it's crucial to remain empathetic and avoid becoming defensive. Recognize their concerns and express understanding, acknowledging that it would be ideal to sell their property for the highest possible price. However, based on the comps and the current market conditions, it is essential to be strategic and competitive. Illustrate this by using a visual aid, such as a line graph, with circles representing the top and bottom of the market. Ask sellers to place their property on the scale based on its condition, allowing them to see where it falls within the market range.