"One of the most challenging conversations to have as a real estate agent is when you need to tell your client that it's time for a price reduction. It's crucial to handle this type of discussion carefully so you maintain client trust and still make them feel valued and respected for their opinions. Here are some tips to ensure the conversation goes smoothly and sets"
"When working with a new client, it's best to set their expectations at a realistic level as soon as possible. When you first meet with them, educate them about how pricing works. Make listing their home a joint decision, where they can decide how aggressively to price it. Ensure they understand that if the house doesn't sell at their desired price within a specified timeframe,"
"By giving the home enough time to sell on its original list price, reducing the price can seem more proactive than a setback. The housing market is dynamic. Multiple listings could go up on the same day that are similar to your clients' home. What your sellers hope to receive might not come to fruition due to factors beyond your control. If comparable houses in"
Set realistic pricing expectations with new clients and make listing price a joint decision. Allow the home at least a week or two to gather feedback from buyers and agents before suggesting a reduction. Use market data and comparable sales to justify price adjustments so the decision is seen as market-driven rather than a lack of preparation. Present numerical evidence to clients to support a price change. Recognize that the housing market is dynamic, with competing listings and external factors affecting sale outcomes. Handle the conversation carefully to preserve trust and value client opinions.
Read at www.housingwire.com
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