[urlparam param=”First, MLSid” /] Your Listing is at Day 21
After A Price Reduction
Ideally when an agent obtains a price reduction – they set expectations with the seller
HERE ARE WORDS THAT WILL SET EXPECTATIONS
Mrs. Seller, with the price shift, we expect often see 1-2 of the upcoming showings to be repeat buyers taking a 2nd look.
We also often see about 3-5 showings in the next 7-10 days.
Sometimes, just the price shift will generate an offer that had "saved the house as a favorite" and now they are ready to make an offer.
Once you have a price reduction sellers may say “I will not reduce it anymore.” Or they may say, “I will not negotiate any further.” In some cases the seller will become defensive. Often the reason people become defensive, is that “they are in pain, or hurt.”
It does not FEEL good to reduce the price. It may solve the issue and create the sale, but for some it still hurts.
What Do I Do Next?
Possibly Email Your Client this note:
We are at day 21, from our recent price reduction, here is what could be expected. With the price shift, we often see 1-2 of the upcoming showings to be repeat buyers taking a 2nd look.
We also often see about 3-5 showings in the next 7-10 days.
Sometimes, just the price shift will generate an offer that had “saved the house as a favorite” and now they are ready to make an offer.
I will keep you posted regarding feedback and interest.
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