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...