100 Day Challenge

A Deal A Week

Elaine Stucy

10.05.09 Your seller has agreed to lower their price if the home hasn't sold in 21 days, which is next week. You thought the home was priced at the low end of its range, but no offers so far.

They speak to a friend who is an agent, and the friend tells them that perhaps they should RAISE the price instead.

How do you respond?

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You could do that, did you ask'em "where's the beef"...We discussed this when we met remember,
1) if your agent friend is willing to ignore market realities then they lack market knowledge, where is the integrity in that, do you want that in an agent???
2) your friend doesn't want my sign infront your home, there is a very good reason why I'm your agent and they are not, would you agree???
3) your friend is afraid they'll lose business over price, do you want an agent who'll buy your business and sacrifice Professionalism???
4) your friend is willing to list high with the hopes of getting you to lower price later, is that the best they've got???...ask'em to prove it...ask'em to show you who has raised the price the past year, got an offer and sold....ask'em have they raised the price on any listing they have in order to get an offer in writing, got it and sold, year-to-date???
What I'm hearing is that agent doesn't want you to be competitively priced in a downward market and wants you to think as a homeowner instead of a homeseller...ask yourself do you really believe raising the price will be in the best interest of getting sold in a market that is still tracking downward??

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I see, what do you think will happen if we raise the price?

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The market had clearly spoken that the price is too high and needs to be lowered, do you think a price increase will entice more buyers?
Buyers buy when they perceive value, so we have to be competitively priced to generate an offer, are you willing to price you home ahead of the other homes that are not selling?

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Are we pricing the property to own it or are we pricing the property to sell?
The buyers in the marketplace will determine the sales price. If we can't generate an offer at our listing price, what makes you think an offer will come forward if we raise the price?

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Was this advice given as a friend or as an agent? A good friend does not make a good realtor and a good realtor should not be a friend.

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Agent: What does your friend think will happen if we raise the price?
If buyers dont percieve your house as great value at the current price why would they change their minds if the price were to go up?

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How do you think this is a benefit to you?
What message are you trying to communicate to the marketplace?
What message would you like ME to communicate to agents when they ask me about the price change?

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FREDIAN THEORY....

Commitment is measured by action.

Who will do what.... when?

Are you talking to people in terms of benefit (opportunity)?

Enlightenment is being free of self-limitation.

"I like to find out what people think."

You don't vend a propportunity™ to sell that specific property, although that is a possibility. You vend opportunity to find out what people will do.

Every day you need to watch from falling into the trap of thinking, "Tomorrow things will work out."

Measure your success by what you do today.

One definition of success is... taking appropriate action.

The goal is to find out what you don't know vs. judging what you think you know. This is what it means to be "open".

Things don't get done because they don't get done today.

Great is being great today.

Your career, your year, won't come together until you break it down into the unit of today.

What are you pushing away, distraction or deals?

The practice of being in the hunt leads to production on a regular basis.

Begin each day "on purpose". Clear, connected, open, and READI.

Your decisions define who you are.

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