I had a conversation with a seller last night about their listing and why it's not selling. Of course, the conversation led down the path of pricing and the seller was not having it. After using all the pricing scripts you probably use today, I still wasn't getting anywhere so I finally asked this question and it led to a reduction...
"Have you thought about what it would look like to just stay put for a few years until the market comes up to your price?"
And then I followed it up with..
"I am doing you an absolute disservice by keeping your home on the market at this price, and so would anyone else."
Finally, I said..
"When agents call me to ask why we have it priced so high I do my best to help them understand the differences of your property vs the competition but I need more ammo... let me ask you.. if an agent were to ask you why your home is priced $35,000 more than your neighbors, what would your answer be?"
The above led to a discussion about getting it reduced once and for all and getting the listing sold. A 35k reduction later and the listing will probably sell in the next 10 days.
Now more than ever we have to be working on our pricing dialogues. Good news is, I have an entire segment at the Summit this January dedicated to handling conversations like the above.
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