I just had this conversation with my client. He kept hinting towards wanting a discount AND listing above my recommendation. I told him that I only take listings if I know they’re going to sell. I walked out with a perfect list price, 6% commission, & charged him the transaction fee. Thanks Brandon for coaching us on how to communicate with these situations! 💪🏼🔥
Sharing some notes I took from this video, hopefully this helps someone! Sellers Motivation It’s important to find the seller's motivation, as the seller's motivation can help determine the price. If a seller has obligations and must move by a specific date, you may consider pricing the home to sell quickly. Setting The Expectation - Have a conversation with the seller about days-on-market, so they have an accurate idea of how long it will take their home to sell. - Be honest with the seller and explain that you’re coming into this with a list-to-sell mindset rather than a list-to-list mindset. Many agents will take a listing, price it wherever, regardless of the actual value, and then sit back and get a few buyer leads while your home sits stale on the market. I’m not here for that; I want to fulfill my commitment to you in the best way I can. - Explain the buyer's bracket, the percentage of buyers in each price bracket or price range. You can use ____ to access this information. - You can set private showings for your sellers to physically see the homes you’re competing against in person. In doing this, you can see exactly what other buyers see in competing properties, all the way down to the minute details. - Be truthful and transparent in all of your dealings. Tell sellers, “The only way I like to earn seller’s business is by telling them the truth, and if telling them the truth is hard for them to accept, making me lose the listing, that’s fine because I don’t want to win listings based on false promises.” - use this when showing comparative listings that have gone stale or expired. Explain the reason these listings have gone stale, leading to frustrated sellers, is that an agent came in and over-promised, telling the seller everything they wanted to hear, whether the information was accurate or not. A good mindset to have is, “I’d rather hurt you with the truth than comfort you with lies.”
Just implemented these strategies on a FSBO!!! This lady is literally dropping price on her own 😂 we have showings scheduled in two days to see competitors she literally told me on the way out the door it’s my job to get her level headed into the right price bracket 😂 This works no BS!!!!
Brandon, have you looked into our non distressed auction model at harcourts auctions. It allows the market to speak to the seller without influence from agents. An agents opinion of price doesn’t matter because they’re not willing to write a check.
Regarding the point made at 8:10 about listing at the right price to sell - Agencies push agents to list as much as possible stock on their books for buyers to compare. Im not justifying high listing prices but then the agents will have to tell the franchisee that its not worth listing. On another note: You don`t believe in listing at the high price, build a proven track record in the coming days or weeks, to assist you in counselling the price with the seller?
Why not take the overpriced listing and use it to lead generate in that neighborhood? Open houses can land buyer leads and your yard sign is free advertising to all the neighbors. Is there a disadvantage to taking a listing knowing it’s going to expire? If the seller is unreasonable so what, take the leads and keep building your pipeline.
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I just had this conversation with my client. He kept hinting towards wanting a discount AND listing above my recommendation. I told him that I only take listings if I know they’re going to sell. I walked out with a perfect list price, 6% commission, & charged him the transaction fee.
Thanks Brandon for coaching us on how to communicate with these situations! 💪🏼🔥
👏👏👏
Sharing some notes I took from this video, hopefully this helps someone!
Sellers Motivation
It’s important to find the seller's motivation, as the seller's motivation can help determine the price. If a seller has obligations and must move by a specific date, you may consider pricing the home to sell quickly.
Setting The Expectation
- Have a conversation with the seller about days-on-market, so they have an accurate idea of how long it will take their home to sell.
- Be honest with the seller and explain that you’re coming into this with a list-to-sell mindset rather than a list-to-list mindset. Many agents will take a listing, price it wherever, regardless of the actual value, and then sit back and get a few buyer leads while your home sits stale on the market. I’m not here for that; I want to fulfill my commitment to you in the best way I can.
- Explain the buyer's bracket, the percentage of buyers in each price bracket or price range. You can use ____ to access this information.
- You can set private showings for your sellers to physically see the homes you’re competing against in person. In doing this, you can see exactly what other buyers see in competing properties, all the way down to the minute details.
- Be truthful and transparent in all of your dealings. Tell sellers, “The only way I like to earn seller’s business is by telling them the truth, and if telling them the truth is hard for them to accept, making me lose the listing, that’s fine because I don’t want to win listings based on false promises.” - use this when showing comparative listings that have gone stale or expired. Explain the reason these listings have gone stale, leading to frustrated sellers, is that an agent came in and over-promised, telling the seller everything they wanted to hear, whether the information was accurate or not. A good mindset to have is, “I’d rather hurt you with the truth than comfort you with lies.”
Just implemented these strategies on a FSBO!!! This lady is literally dropping price on her own 😂 we have showings scheduled in two days to see competitors she literally told me on the way out the door it’s my job to get her level headed into the right price bracket 😂
This works no BS!!!!
Wow good stuff here. What a gold mine. Definitely not a cookie cutter approach. Didn’t even learn this method in my two years as a coaching client.
Wow simply because it’s a long video a lot of new agents are going to miss out. I know for a fact I’m going to win listings from the notes I took.
Thank you Brandon, There is always nugget of wisdom in your content. Appreciate your time and effort you put in creating these content.
Wow, one of the most valuable videos I saw lately. I’m realtor in Canada btw.
Dom = 🐐
Brandon, have you looked into our non distressed auction model at harcourts auctions. It allows the market to speak to the seller without influence from agents. An agents opinion of price doesn’t matter because they’re not willing to write a check.
Regarding the point made at 8:10 about listing at the right price to sell - Agencies push agents to list as much as possible stock on their books for buyers to compare. Im not justifying high listing prices but then the agents will have to tell the franchisee that its not worth listing. On another note: You don`t believe in listing at the high price, build a proven track record in the coming days or weeks, to assist you in counselling the price with the seller?
Mr. Seller I can tell you what you want to hear or I can tell you the truth. You do want the truth don’t you?
Dominic looks like a villain. 🦹♂️
How do you use the brackets on showingtime?
Great advices.
Lot's of great content!
Hi, in the US who pays for the staging and the marketing for the property? The sellers agent or the seller?
Usually the seller
I'm the one or two taking notes haha
👏
Why not take the overpriced listing and use it to lead generate in that neighborhood? Open houses can land buyer leads and your yard sign is free advertising to all the neighbors. Is there a disadvantage to taking a listing knowing it’s going to expire? If the seller is unreasonable so what, take the leads and keep building your pipeline.
I'm guilty of listing to list