Asking THIS Question to Sellers Costs You Listings

Okay, guys, do you ask the seller what they want to list the property for?

When you walk into that listing appointment, do you say, “Hey, do you have a price in mind?”

If those words are coming out of your mouth, it’s a mistake, and I’m going to tell you why.

Because when the seller voices that number, I believe they start to solidify around it. They begin to take a position. And if they feel like they’re being backed off of it, they may feel like they’re losing face. So they start defending it even more—especially in front of a significant other, a spouse, husband, wife, whoever.

They feel the need to defend that number.

So what’s the alternative?

Don’t encourage them to state a price.

Sometimes they'll volunteer it anyway, but don’t prompt them.

Instead, try saying this:

“Hey guys, I brought in a lot of data for you. I’m a data person, and I believe that to make a really good decision, you just need really good data. So I bring in all kinds of information that helps with pricing the property.

That includes comparable sales—things that have sold in the last six months in your market. The same data an appraiser will use. And by the way, an appraiser charges $700 to $1,000. But you're getting this for free.

I also bring in the active listings—what you’ll be competing with. Where they’re priced, what incentives they’re offering, how long they’ve been on the market. We can take a deep dive, look at price reductions, and see what strategies others are using. We’ll also look at trendlines for your neighborhood and the local area—what’s happening in the market overall.

So, let’s open that up. Let’s go through the data, and then we can talk about pricing and what we can do strategically for your home.”

When you approach it this way, the seller still might come in with a number in mind. But as you talk, they start to mentally adjust it downward.

By the end of the conversation, you can say, “Would you like my suggestion on pricing based on all this?”

Or, “If we can come up with a price you feel comfortable with, and I feel confident I can market the property at, hopefully we can work together. I’d love to work with you.”

So it becomes a conversation, not a fixed number stated at the beginning.

That’s really strategically important. Because right now, there are 500,000 more sellers than buyers. It’s a much more competitive market than it was a year or two ago.

That’s why you must get this right.
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