Do you Prepare for Price Reductions?
Most Agents do a poor job of preparing their recommendation of price.
I really think so.
As I speak to Agents all over the country, live, in teleseminars, coaching calls, and over the Internet, I find there is a lot of talk right now about overpriced listings and sellers who won’t change their price.
Then I hear Agents say things like, “No matter what I show them they won’t budge.” “It doesn’t matter what you show them, they won’t reduce their price.” OK there are some sellers like that who are not motivated to sell. They exist in the healthiest of markets not just now.
Then when I ask the Agents what kind of work they did to prepare for recommending a price at the listing presentation or when I ask what they do to prepare for their pricing conversation with the seller I realize many of them, most, in fact simple don’t know how or are not willing to do the work.
By the way, the work consists of two major parts. One is how you prepare, the data you pull, the drive bys, the analysis you do and how you put all that together to show the seller. The second part is your skill at presenting it to the seller.
The long stretch of good buyers market from the early 90’s to late 2005 and 2006 made many Agents both lazy and lose their edge in both pricing preparation and presentation. It is costing them. Is it costing you?
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