Top 3 Price Reduction Objections...

[DMG]

..and how you overcome them. I thought this might be a good thread for some thoughts being that today was price reduction day for my team. I am sure by now, most of us feel the pressure of properly pricing property and sellers who may not want to.

What are the top 3 price reduction objections you get and how do you reply to them?

[Susan Zanzonico]

Aren't the objections always about netting more money? I talk about how you must look at the competition in a market like this....more than closed sales. If the house if falling short of another that has a lower price...what else can you do. I take my sellers to the other homes to help them realize, if necessary. The market is dropping the longer your home stays on the market at a price too high, the more you are compromised...first question out of a buyers mouth is "how long has this home been on the market"... You don't want to chase the market cause in the long run you end up getting less money...the worst that could happen with the lower price is that you have multiple offers and then the buyers bid it up. ....those are some things I talk about..

[DMG]

Susan,

You don't want to chase the market

I heard that the other day from someone, I love the phrase and I now use it, good one.

[Nola Realty]

Totally agree with Susan. In addition when these prices are changed, we use the phrase "New Price" when marketing yard signs and all ads. To me, "price reduction", even though that is what you are doing, it sounds more detrimental.

[Susan Zanzonico]

How about "price improvement"...

[Calgary Agent]

How about "price improvement"...

or just plain old "price adjustment"

[Susan Zanzonico]

or just plain old "price adjustment"

Bingo!

[Kari Battaglia Englewood]

Typically I hear "I don't want to give my house away." I offers sellers to tour the homes that are in the price range their home is currently listed at. After viewing two homes, I am usually successful in getting a new price for their listing.