How to Sell a Stale Listing (Without a Price Reduction)

If you have a listing that's been lingering on the market, I like to have a “positional pricing” conversation with my seller.

What does that mean? That's for a seller who's not quite ready to do a full price reduction, but they would definitely look at an offer.

So my conversation looks like this. I'll say:

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"Hey Mr. or Mrs. Seller, I know you're not quite ready to do a full-blown price adjustment yet, but can I give you an idea?

And my idea is this: when we have the next showing or we do the next open house and we have attendees, what I like to do is, with your permission, call that buyer or that buyer's agent and say, ‘hey, my seller's gearing up to do a price adjustment soon. Not quite yet, but we wanted to give you some advance notice, so we are going to make you an offer on this home that is going to be reflective of the price that we're going to be going to in MLS, but that's going to be a little bit off, a ways off.

So here's our price for you:”

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So what are we doing? Why are we doing this?

We're giving them an incentive price.

We're doing this to reignite the buyer's interest. And if the buyer has been out looking at ten other homes today and you suddenly say that you’re offering them a special price compared to every other buyer in the market that’s not getting this special price.

It's a really powerful strategy.

It's the way I bought one of my recent houses myself. The seller's agent did exactly that.

They reached out to me and said, “Hey, Jim, the seller would like to make you a special offer before this list price goes to the market and we do a massive reduction in the whole market. We want to give it to you first.”

I immediately took action. I made the offer, we made a deal, and it was good for everybody.

So a little idea there for you: positional pricing. See if that'll work for some of your clients out there in the marketplace.

Now, if you want more ideas like this and lead generation strategies, check out the Path Performance Coaching. Use this link to get your first month for only $1.

You’re going to get tons, literally hundreds, of lead generation strategies over there.

Hope to see you over there soon. Have a great day and good selling.
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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?

+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
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+ His Current Team Closed $1.4 Billion in Sales in One Year
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