[urlparam param=”First, MLSid” /] Your Listing is at [urlparam param=”Day”/]
Almost every market has a certain amount of Pent-Up-Demand. Those first 3-5 buyers, perhaps 5-7 buyers are the most motivated. Those are the buyers that often pay list price. Did that happen for you? If not, perhaps you have an offer coming, or possibly a price reduction is needed.
Is your seller in the READY ZONE? Meaning, were you able to set the expectation that if the buyers don’t make an offer, in a way they have voted. They voted that the “price does not match the features being offered on that property.”
Ideally when an agent takes a listing, they inform the seller of these factors
If we have 5-7 showings, we should have an offer.
Those buyers represent what is called "pent-up-demand."
Ideally we have those 5-7 showings in the first 10 days.
Low foot traffic and no offers, the "buyers made their vote."
If you set those expectations during the listing interview, 9 times out of 10 the seller is in what is called “The Ready Stage.” This means by day 10 they are receptive, they are ready for a price shift. In the absence of you setting these expectations, the seller may be quite a bit more reluctant to reduce the price.
Do You Need A Price Reduction?
If you need a price reduction, run a HomeZoop report. Look at columns H and I. It will provide you insight as to the frequency of price shifts for both the ACTIVES competeing with you and the UNDER CONTRACT proerties.
You can send your client a note that goes something like this:
“We are at [urlparam param=”Day” /]. By now I would have anticipated an offer. Please look at the attached report. It shows that 5 of the 11 (or whatever is on your report) other properties for sale have had a price shift. Plus it is interesting to note that once a price shift occurred, those properties went under contract in about 12 days.
Would you be available for 5-10 minutes on Thursday to do a Market Recap? I have a strategy to review with you that should positively affect the showings and create an offer.”
What Is Your Greatest Need?
Is it knowing how to build a substantial listing inventory? One listing can pay for a nice vacation. A high-end listing can get you a new car.
Do you need a single listing source? Not just your friends and family. But rather a person of influence that will refer you leads monthly.
Do you need to get balance, and be far more organized? Most people do!
Book your session. We have great eye-opening questions and solutions!
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