We’ve all been in a situation where we have a listing that just won’t sell. What can you do when that happens?
You might not like the answer, but it’s the only one: The price is too high. You can’t out-market a bad price, and if you keep telling your clients you’re going to do more marketing to get it sold, you’re wasting money and must bide your time until your clients fire you.
When my clients tell me about the things in their homes that aren’t quite perfect, I respond with “Any objection is overcome by price.” If you’re priced at $100,000 and the house is worth $300,000, is anybody going to care that the kitchen isn’t done or it backs up to a busy street? No. I know that’s an extreme example, but I really want you to think about it.
As you reduce the price, the objections from buyers magically disappear. When a client says they want more marketing and won’t touch the price, you need to be careful. You’re going to be blamed when the home doesn’t sell even though the marketing was never the issue—the price was the issue.
If you have a house right now that’s not selling, I’m going to guarantee you that your price is too high. If you have any questions about how you should handle your specific situation or any questions about the business in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.