LeRoy Houser

7 Strategies for Presenting the Price Effectively

There is no one “best way” to present the price to the seller. With all the resources available to homeowners today, it’s important to have as much information as possible prior to the listing presentation so you are able to justify the market price in a logical manner. Remember that it’s the information you present that creates trust between you and your potential client, and how you present it is just as important as what you present.  Following are seven strategies that may help you not only get the listing, but get it at a price that will sell. 

Ask for “Their Price.” Hey, it’s their house, so ask them what they want for it! Sometimes their price is right, but usually it’s too high. However, it’s their house, so it’s courteous for you to ask what they want for it, as this indicates that you value their opinion. When and if they give you “their price,” respond by telling them you will search the market data for support for that price. Then at the presentation you can say, “I looked everywhere for support for $400,000 but couldn’t find any. However, I did find support for $375,000.”

Consider Bracket Pricing. Many agents today use bracket pricing because it’s easier for the seller to understand and for the agent to explain. Pricing is not an exact science, so telling someone their home should be offered at $315,500 may cause some concern, whereas Read the rest of this entry »

When Do You Cut the Price to Sell the Listing?

In these times when negative equity is commonplace, cutting the price of a listing is something none of us want to do. Many real estate markets are characterized by falling prices, an overabundance of properties on the market, and more properties for sale than there are buyers to buy them. A listing can go from extremely marketable to UNSALEABLE in the blink of an eye. Consequently, “So, when do you cut the price to sell the listing?” is a question most top salespeople deal with daily. Below are ten clues as to when to drop the price so you can get that listing SOLD!

The 10 Price Dropping Clues:

1. If the house has not been shown in the first 2 weeks of the listing, it could be time to Cut the Price. More people look at a listing in the first 30 days than any other time, so it’s dangerous to keep a new listing on the market for more than two or at the most three weeks before a change is made. Otherwise, in that time the majority of the prospective buyers have seen and rejected the property, so Cut the Price before this happens.
2. When salespeople with customers tell you the house is overpriced Read the rest of this entry »

How to Create an Awesome Listing Presentation

Many REALTORS^® out there believe that price is the main aspect of a listing presentation. Because of this, in many instances price is the only presentation made, sometimes only over the phone or via email instead of in person. I believe presenting the price is just one segment of an awesome listing presentation, so I’ve written this blog to help you with all the other components so your clients will see that you’re the best choice!

One of the most important functions of a listing presentation is to establish a trust relationship between the seller and the REALTOR^®. This happens when the seller is convinced the salesperson has the skills necessary to get the property SOLD, and the salesperson is convinced they can sell the property to meet the seller’s criteria. It’s the information that is shared and presented by both the seller and the salesperson that creates this trust factor between the parties, so here’s how to make the information you share shine. 

Components of an Awesome Presentation

1. The Prelisting Interview. This is usually a telephone interview (which may be the most important aspect of the entire presentation) which generally takes between 30 and 60 minutes. To make certain you provide the information the seller is looking for, it’s important to ask questions related to the following:

1. Their timeline for moving
2. The price they are looking for (they have one)
3. Their reason for selling
4. If the house has been listed in the past 24 months
5. If they have talked with other agents
6. Are they ok with their mortgage
7. What concerns them most about moving

2. The Prelisting Visit. This visit is often referred to as a walk-through. It’s a good idea to start by saying Read the rest of this entry »