“Can we talk about price first?”
I don’t know about you but I HATE it when that happens.
Now some agents feel it’s fine to talk about price first. They defend it by saying…”that’s all the seller cares about so why not?” AND in full disclosure I do believe that under one circumstance it is fine to talk about price first…that’s when the seller is a sure thing; you know they are hiring you. Likely, the seller is a previous client or an established friend and they have said to you…”bring the sign“. To be clear, not assuming they are hiring you…you know they are.
Other than that situation, talking about price first can be a death nail for two reasons:
First, by the seller totally changing your listing presentation agenda, you just allowed them to become the leader in your relationship and now you are the follower. Sellers don’t hire followers.
Secondly, if they hear from you a price that’s different than the number they have in their head, the seller will simply shut down to anything else you are going to say.
So what do you do when they want to talk about price first and you don’t want to? There are two strategies:
Strategy #1 is to build trust as quickly as possible.
Let’s be clear…the goal is not to hold the pricing conversation necessarily to the end of the presentation. Rather, it’s to hold the conversation until you have built enough rapport and trust that they will be open to your guidance.
The seller may have some trust in you already or they may be a completely cold prospect. Regardless, a great strategy is to build trust even before you get to their house. How? With a Pre-Listing Package.
Now most agents don’t use Pre-Listing Packages and if they do, many fill them with information about the company or they put in forms, etc. However, the point is to build trust in you, i.e. who you are and why they should hire you.
Now, you may say…they aren’t going to read it. Honestly, I don’t care. What I want them to do is glance at it and have feelings of like and trust and care and competency. And to begin feeling confident that you can get the job done.
So, what should go in it? I have a giveaway for you. Click on the link to download the 411 on Pre-Listing Packages.
Okay, now Strategy #2 – Address the objection before it happens. This means, assuming they will ask to talk about price first and kill the objection before it happens. Identify the order of your presentation to the seller and tell them why waiting to talk about it is critical. For example:
…the last thing we talk about is what the market is saying about your house. The asking price decision is the most important decision you will make in this process. To ensure that you have all the information to make a smart and profitable decision requires that we place it last. Does that make sense?
Okay, those are the two strategies for holding the pricing conversation as long as possible. Which one should you use….BOTH! Don’t forget about the giveaway: the 411 on Pre-Listing Packages.
Having a correctly priced listing is so important to you and your seller. So mastering pricing is the most important skill you can have.
Remember, we have a free webinar coming up this week: How to Get a Reasonable Asking Price from an Unreasonable Seller: Discover the 3-Step Process. Click here to register.
P.S. Want to see these Strategy Sessions and other new material and offers before anyone else? Join the Strategic Agent Facebook Community Group to always be among the first to receive our special offers, resources and materials not available anywhere else. Click here to join today.