> The “Just Listed” Approach
You just finished sitting through a listing presentation with a top agent and things went well. The agent’s company has a great track record and some impressive sales stats. Maybe you even interviewed at least 3 agents (which we highly recommend).
But one of the agents you spoke with gave you a price that’s much, much higher than the other two. Of course, you’re going to go with the agent that claims they can get you the highest price, right? Not so fast.
In this limited inventory market, it’s crucial to fully understand the pricing data you’ve been presented with. It’s also critical to understand if YOU were the sole reason for the higher pricing recommendation.
Was your listing price determined by market data or the emotional attachment you have to your home? Unfortunately, many sellers who dictate their listing price without a collaborative conversation find themselves with another “Just Listed” and eventually expired listing months down the road.
Every expired listing seller wonders why their home didn’t sell, and most blame the lack of a successful sale on their agent. Sometimes that’s true, but the reality is that homes don’t sell for five reasons: Sub-par location, sub-par condition, improper pricing, poor marketing, or hiring the wrong real estate agent.
Over the years we’ve discovered that many unsuccessful sellers have one thing in common. It was something they inadvertently said to their real estate agent during the conversation about the initial listing price of their home. We’ve sat across from hundreds of homeowners who have made this same statement time and time again which almost always hurts their chances at ever being successful in selling their home with the “Just Listed” approach.
Do you know what that one phrase is?
Here it is….
“WE DON’T HAVE TO SELL.”
This phrase can really be a detriment to any seller who wants to sell at their price rather than the fair value market price. This one phrase leads most sellers to simply go on to the next agent who finally agrees with their pricing.
This is how the conversation in this situation usually plays out.
Typical Agent says: “Mr. and Mrs. Seller, I know you said you wanted to sell your home for $500,000, but the other similar one-story homes down the street are only selling for $400,000.”
Seller says: “Oh well if that’s the case, um…um…well…We Don’t Have to Sell. We were just checking things out. We’ll be sure to give you a call in a year or two when the market is better.”
(Insert a few moments of awkward silence…)
Seller thinks to self: I’m not willing to lose that kind of money. Zillow® can’t be that far off. This agent is trying to low ball me on price to get a quick sale. Do they think I want to give my house away?
Agent thinks to self: OK, so, you don’t have to sell, and it will obviously take extra time and effort to hopefully attract a buyer at your price…Hmmm… Ok, why not?
Agent says to the seller: “You know Mr. and Mrs. Seller, why don’t we try it at your price? It can’t hurt anything. You do have a beautiful home and if you’re willing to sign the listing contract tonight, I can list your home for that price.”
Seller thinks to self: Good thing I stood my ground. I knew the agent felt my home was worth more. You can’t slide a fastball past me!
Seller says: “If you feel comfortable marketing the home at our price, and you think it will sell, then I think we are ready to move forward.”
Agent says: “Great! Please sign here and press firmly. I’ll get your house on the market first thing in the morning and start marketing it right away. What time works best to hold an open house this weekend?”
Avoiding this scenario is all part of becoming honest with yourself and working with a trusted Homes Sold for MORE™ agent to determine the best price to start with. We don’t just TRY to sell homes; we get them Sold for MORE™!
You will know you have a good agent when they thoroughly explain their pricing recommendation, yet have the confidence to politely disagree and work with you to determine the right price based on real data. Find the right agent first, then work TOGETHER to determine a realistic listing price.
> Homes Sold for MORE™ Process
Our Homes Sold for MORE™ philosophy is different from the “Just Listed” approach. We work with every seller to determine the best initial price to take advantage of your first impression period and get you the MOST for the sale of your home!
If our agents don’t feel we can sell your home at a price we can all agree on, we won’t waste your time or ours. When listing your home, you are essentially entering into a multi-month relationship. There needs to be a mutual level of trust, from pricing to process. Isn’t that what you really want? If you and your listing agent aren’t on the same page from the start, your chances of success dwindle.
Let us show you how we can change your expectations from having your home “Just Sold” to Sold for MORE™!
