I have the talk about price reductions right up front when I take a listing. I tell my seller's that a competitive price will bring the quickest and highest sale, I'm not always able to predict that exact price. If we don't get some good action in the first 30 days, then we need to look at what's happening in their price range and find a range where we do get some action.
That's when my face gets all kooky, because I find this talk VERY STRESSFUL!
It's probably a mistake to post a photo like this of myself, but really I think I look worse sometimes when I get in this situation!
I know in my heart that it's my job to do the research and give the seller the best info and advice out there, but I always brace myself for their objections. Some of the most common:
- I'm not gonna give my house away
- If I go down any lower I won't have the money to do what I want
- The neighbors house sold 2 years ago for way more than I'm asking, and my house is just as good as theirs
- You haven't showed my house
Let's face it (another pun with the pic here don't you think?) if the price we're listed at is not getting any action, either everyone has stopped buying, or the price is too high! In Billings Montana we have a fairly balanced market in the under $250,000 range, even though we are down in total sale volume numbers from a couple of years ago by about 30%.
Price reductions are working in our market! I used to think price reductions were just a lame effort to get some attention for a stale listing. But right now, if you make a serious price reduction, you will sell your house!
The Quilting Realtor
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Many Dream Of Living In Montana I'm One of the Lucky One's That Already Do! Wanda Thomas Call or Text 406-698-8640 for help with all things Montana. |
