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Ask For Price Feedback

feedbackIf you have listings, you have a duty to coach your sellers about the realities of the market. Fail in this duty and many of your listings will not sell.

It could be argued that in a booming market most listings sell, but markets change and so it is better to not let your coaching skills become rusty. Coaching, not conditioning Many in our industry indulge in the disgusting practice of conditioning. I do not condone this practice. Conditioning is best described as giving sellers good news during the listing presentation, statements such as, “You should get that price. Let’s put it to auction and see what the market has to say“. Happy news, can-do spirit, nothing negative. But then, after the property is listed, it’s nothing but negatives. “The market response has been less than encouraging…” followed by low price feedback, perhaps even a dummy offer. The euphemistic term is “Managing the sellers’ expectations“. The truth as a sales tool

You don’t have to treat people this way in order to succeed. Sadly, many do not realise that the truth is a terrific sales tool. And that telling the truth does wonders for their integrity.

  • At the listing presentation, tell the truth and give a realistic estimate of the likely selling price. Yes, it takes skill to tell the truth and still win the listing, but there are many skilled and honest salespeople out there who know how to do it. It can be done. It is being done… daily.
  • Whether you show properties by individual inspection or by open inspections, ask every buyer for their opinion of what the property is worth. Elicit honest feedback from genuine buyers and pass that honest feedback on to your sellers.

This helps you to qualify the buyer too. Is their feedback realistic for this type of property in this current market? Buyers’ answers to the question ‘what do you think this property is worth?’ tell you whether or not they know the market. Also, if they quote you a price and later offer a lower figure you now know they may

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Ultimo NSW 2007
Australia


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Strawberry Hills NSW 2012


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