You’ve been there: a client insists on pricing a home way above market value and three months down the line, blames you for the home not selling. As a real estate agent, you are constantly balancing your expert market knowledge with keeping clients happy and this can be hard – especially when it comes to pricing during a listing presentation.
In fact, how you handle pricing objections at a listing presentation often times will determine if you even get the listing. But sometimes this is easier said than done. Which is why we partnered with the master of overcoming objections, real estate coach Tom Ferry, to create Cloud CMA’s Listing Presentation Kit by Tom Ferry. This Cloud CMA add-on contains content pages that help you overcome the most common objections you’ll face during a listing presentation. Your real estate CMA software can be complimented by the beautiful covers, illustrations, and script book.
Our favorite pages in this kit are the “Pricing Strategy Pages”. These explain in detail what will happen when you price a home above, at, or below market value. The client can also clearly see the pros, cons, and expectations for each option. This is crucial because they go into the decision making process with no surprises.
Your client can choose to price their home above market value, which states that the most likely scenario will be the home sitting on the market, resulting in an expired listing.
You can price at market value, which asserts that you will have an advantage in online exposure, appealing to other agents, and easy appraisal.
Or you can price below market value, which suggests that it will be a quick sale, however, buyers bidding on the lower number may not be qualified or capable of getting financing for the actual/intended sale price.
The final page (and my personal favorite) is the signing page. The fact that your client has to sign on their final decision enforces the idea that this is an agreement made upon by both parties, and ensures that the client fully understands the pros and cons of the pricing strategy. It prevents the dreaded scenario of your client blaming you if a house is not selling. You can always refer back to the pricing agreement and remind your seller that this is the option they chose, which makes you look cool, calm, and in control.
Add Cloud CMA’s Listing Presentation Kit by Tom Ferry to your account today and let us know how it works for you! Have you already used the pricing strategy pages on your previous CMAs? Tell us what you like about them!