Here is my topic list for a listing presentation in the order in which I present them to the sellers:
- Real Estate Fee
- Appointments with other agents
- Family members in real estate
If you put together a powerful listing presentation addressing these 5 topics you then have a better chance of securing a listing agreement.
But, of course, every seller is going to have objections to at least one (and more like all) of these points. We could discuss each one for an hour and still want more time, so for this post, I’ll briefly address just the first one.
You lay out the comparables you’ve selected, point out the similar features, explain your thinking and you hear this…
“Suzanne, are you kidding? These are nice houses, but really they don’t compare with ours. Ours is much better.”
And you are thinking…”Oh ya, how many times have I heard that.”
Well, in my opinion there is only one logical way to respond to this reaction.
Expect that the seller will always object to your Pricing Proposal and Range of Value. So, as I’ve mentioned in previous posts, as part of your preparation for the listing presentation, always create an “Over-Market Value CMA”.
Here are a few of my suggestions for handling the Pricing Objection
- Open your laptop to the comparables you’ve used in your Over-Market CMA
- Ask the sellers to “pretend they are buyers who qualify to buy a home at the higher price range.”
- Take the seller on tour of those comparables that will now become their competition. (Note: you should always refer to Active listings as the selller’s “competition”)
- Point out during the tour the justification for the higher price for the comparables
- Ask the sellers, “If you had the choice between your house and one of these homes and you wanted to maximize your investment, which home would you buy?”
Taking an overpriced listing should not be an option!
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