Urgent Before Summer Ends: Why REALTORS Must Have This Conversation When Listings Aren’t Selling

Hey, guys, we're coming up on the end of summer. What does that mean for sellers?

Well, if they're still on the market and they haven't got an offer, this is really when we should be having some of those conversations with them about really getting their pricing, maybe realigned, repositioned for the market, meeting the market where it is. And so we're having these repositioning conversations.

One of the things I like to talk about is their peer group. And their peer group, for me, is the other 10 or 20 properties in the market (if there's that many, or maybe it's five) that they're competing with.

And in other words, those are the most likely listings that someone will look at if they're also looking at theirs.

So my conversation might look something like this, where I call the seller and say:

“Hey, coming into the end of the summer now, I wanted to give you a quick update on what's happening with your peer group. That's the people that will have houses that are similar enough to yours that a buyer would likely look at those at the same time.

What I found is that when we put the home on the market, we identified ten properties that were in our peer group. Of those properties, six have now done price adjustments. Three of the six identifying adjustments did so and then almost immediately got an offer. And two of those are now closed.

I'm going to send you all that data over, and I'd love you to just take a look at it, and then you can tell me what you'd like to do. If you'd like to make an adjustment and kind of meet the market where it is.”

This is a conversation we should be having this time of year. Definitely powerful.

What we don't want to have happen is get that listing all the way to the end of the contract and have it expire, and then have the next agent pick it up at a reduced price and sell it.

That's the worst thing that can happen to you as an agent.

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We'll give you tons of lead generation strategies and conversations like this to help you dial in your business and really grow transactions over the next 12 months.

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Hope to see you over there soon! Have a great day and good selling!
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