Is Your Seller Serious About Selling?

March 2, 2012

When sellers aren’t realistic about the price in listing their home, they may not be all that serious about getting their home sold in the first place. 

“Before aggressively investing time in sellers who may never be ready to price their homes realistically for today’s buyers, get to know them and establish routine communications,” writes Bob Floss, 2011-2012 president of the Chicago Association of REALTORS®, in a recent RISMedia article. “If you connect with prospects effectively and provide a full picture of the market, the true sellers will eventually signal when they are prepared to make the move.” 

Floss suggests negotiating — in advance — target dates in which the seller agrees to consider a price change on the property if it hasn’t sold yet. For example, the agent may have the seller to agree to consider a price reduction after a certain number of market days have passed. 

Also, Floss suggests keeping clients informed about the local market conditions and selling trends. He recommends agents take advantage of housing data available through their local REALTOR® association’s multiple-listing service and other resources to educate sellers about what’s going on in the market so that they can be realistic when it comes to pricing and in negotiations for getting their home sold. 

Source: “How to Tell When Your Seller Means Business,” RISMedia (March 1, 2012)

Read More

Sellers Willing to Do More to Get Home Sold