At some point or another (if not every day), Realtors will have to deal with a client who thinks their house is worth “more than the comps, because it’s better.” This drives most Realtors up the wall, and so many have trouble turning down this type of client. But listen up! Sometimes it’s the right thing to do for your business! There is no point in taking a property on that you know is going to sit stale on the market because it’s overpriced. It also hurts your business in several ways; your list price can suggest to other Realtors that you don’t know what you’re doing, it increases your monthly overhead for advertising, and most importantly, it ties up your valuable time when you could be selling properties that will sell.
My advice is to be honest with the buyer, and tell them upfront the reality of the situation. Here is a sample sales pitch you can use to try and close the listing appointment:
Mrs. Chalmers, I understand you want $790,000 for your house right now, but the honest truth is it’s not worth that. I don’t want you to think that I am saying this so I can quickly move your property and make a buck. I’m telling you to advise that comparable homes are selling well below your price point. I understand that you have an emotional attachment to this property, but what you have to understand is that a buyer coming in to see your house has no attachment to it. We have to make your property competitive and appealing to home buyers who are shopping for this type of home. You may consider going with another realtor who will promise you a higher price, but I truly feel they will say that to get the listing and then just come back to you recommending a price reduction to sell the home. I have sold plenty homes in this area, and I can tell you that if your home is priced correctly, we can try and get the best dollar value for the home in this current market. We can’t out-price ourselves because we won’t get any leads and the property will become stale and less desirable. I sell a lot of homes because I know pricing in and out, the right price will move a property. I think we can reasonably list your property around $735,000. But if you don’t think you can work with me on the price point, I don’t think it’s in my best interest to take the listing on because I don’t want to disappoint you as a client.
Blamo! That’s how you close a tough listing appointment. Just be honest – don’t waste your time over a commission that might take forever. Top-producing realtors put properties on the market at the right price and move them in volumes; so don’t sit around trying to please unrealistic home sellers. Get yourself in the top selling mindset and realize that sometimes it’s okay to walk from a deal, because chances are you would have been unhappy had you taken it!
Author – Michael Soros