Price Reduction Conversation – Important

If you have a listed property with a motivated Seller that is not selling, it’s important you have this conversation:

• What would you do if you had an offer of X? Put it out on the table as to the type of “lowball” offers that are coming in sometimes.

• Explain we have to counter ever offer – If EVERYTHING else is right in the offer but the price and they ASK us for a counter… THEN what would you do?

• Play the Negotiation Game as if it were real life.  If you countered at X and they come back at Y, then what?  Keep playing until you’re “done”. As in real life, this can take 3+ counters back and forth.

• Get the bottom line price. It’s critcally important that your Seller understands what his/her bottom line price actaully IS so when an offer DOES come in, they know it.

• Ask: WHY would we offer that “best price” to just 1 buyer… or even this IMAGINARY buyer… rather than offer that price to ALL the buyers out there?  – Most Sellers THINK we MUST leave room to negotiate – like that’s a rule somewhere out there…

• No… you actually don’t.  You only HAVE to sell it at the full price. And properties that are price RIGHT or even BELOW market value are often selling for MORE than full price.  Here’s an example of one I was involved in recently (tell a true story).

• What it boils down to is this:  You need to sell your home.  You know your bottom line.  But no one else does.  – Let’s price it at that price now. I’ll commit to supporting you in countering ALL the offers we get at FULL PRICE if that’s what you decide to do.  You see… I’d rather you counter all the offers at full price rather than not get any offers at all. Doesn’t that make sense?

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