Script Practice Saturday

Happy Weekend everyone! We hope you’re having a successful time hosting open houses and taking clients on showings. In order to continue to help you to grow your business, we will be sharing a real estate script every Saturday. If you’d like to see a script for a specific topic let us know by emailing Jennie at jsherkness@kw.com.

Today’s script: The Importance of Pricing Your Home Correctly

Agent: Mr. and Mrs. Seller, I’ve shown you the market analysis. We expect your home to sell right around $____($300,000). You’d be happy with that approximate sale price, right?

Seller: Yes.

Agent: My suggestion to you is to list the home at $____ ($299,000) but no higher than $____ ($309,000). That’s because you will be within the three percent range with those figures. Given that pricing, we should get multiple offers, in which case, the sale price may go higher. You’ve indicated that you prefer to list the price a little higher, at $____ ($329,000). You reasoned that you could always come down, and that it didn’t hurt to start a little higher.

Seller: Yes, and we’d leave a little negotiating room.

Agent: Let me tell you about the psychology of negotiating for 90 percent of the people out there. No one wants to be perceived as a jerk in the negotiations, right? Well, if we start with an asking price of $___ ($329,00), that’s almost $___ ($30,000) more than our expected sale price of $____ ($300,000). If a buyer is willing to pay $____ ($300,000) and expects you to come down by $____ ($30,000), then they will plan to come up $_____ ($30,000) in their negotiating. But that means their first offer will only be $____ ($270,000) on a $____ ($329,000) asking price – if we get that offer at all! [Watch the seller’s body language as they will show negativity.] Everyone wants to feel like it is a win-win negotiation, because the buyer has gotten you to come down a little bit in price, and in exchange for that, the buyer is willing to come up a little bit. Typically, homes sell within three percent of the asking price. Why don’t we price your home within three percent of the expected sales price? Does this make sense?

Seller: Yes.

Are you interested in joining a company that teaches it’s agents how to talk to clients in all situations? Then give us a call at 215-631-1900 or email Jennie at jsherkness@kw.com.

*Adapted from Keller Williams Millionaire Real Estate Agent

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