Real estate agents should ask sellers about competing agent showings and decision timeframes, then preview comps selectively on the phone but save the full valuation for after commitment. Leave behind data like scatter-price analysis to show the cost of overpricing: longer time on market and multiple price cuts.
Part of the last question here or a question in the seller phone consultation is, you know, are you going to be meeting with other agents and if they say yes, you know, ask them what the timeframe is and when they expect to make a decision. You can decide if you want to be first or last or if it's worth you being involved in any of that. You're going to have leave behinds, you know, and hopefully those brownies will hit to kind of give you some additional likability. But the only thing we would do is go through, you know, we basically what we say and when I coach my listing partners to say is when this time is right, we're going to go through, we leave an old equity evaluation with them. So let me leave. What I can do is kind of go through some comps. So we can go through some comps. We have to price the home as we list it because I don't know what's going to happen between now and then. So I can go through some general comps. I wouldn't show them the punchline, don't show them the overview page because you don't want them to see the numbers on that page yet. But you can go through some comps and say, you know, we do a way more extensive analysis when we actually come up with a pricing strategy. And there are different strategies. And I always talk pricing strategy and I coach my listing partners to talk pricing strategy because some agents will come in here. So I'll caution you, Mr. Mrs. Seller, some agents will come in here and they won't talk about a pricing strategy. They'll give you a high price but not tell you that it's going to take multiple price reductions and six to nine months on market to get you a price that you could get in 30 to 45 days. And that's where that scatter price analysis Claris Metrics page is very, very important. It's critical we leave that packet with them. And I leave, I would leave that page open and say, listen, I've just got to caution you that a lot of agents are going to come here. They try to buy the listing with a high price. So I'll tell you right now that, you know, I'll be open with you on my recommendations on pricing. When it gets to that point, we can go through the comps. Generally speaking, you can see there's a smaller comp that sold for less than you want. You could see that there's a bigger, maybe a nicer comp that sold for more. That's why as part of that phone consultation, we ask them what they think their home is worth. And so we know a lot going into the appointment. And you just want to make sure that you don't lose it by giving them a low price because that's probably what your, your price is going to be lower than other agents. But so there is a little bit of kind of, you know, dancing with them a little bit there to make sure that you don't ruin the rapport by saying, I'm not going to leave my equity valuation with you. Be like, hey, I'll leave you example of what we do and I'll go through some comps. And then when we decide that we're definitely going to work together, we're going to get you the most aggressive pricing strategy to make sure that you get top dollar on this property. You know, make no mistake, my job isn't to get you to come convince you to do, to commit to a lower price than your property's worth. It's to get you absolute top dollar for your property. But a lot of times an agent that isn't very strong on knowing the market and helping you with a pricing strategy, they'll just, the only thing they have is to overprice the listing. And then the data shows like, this is data, this is past data. It doesn't include. There's no opinion in that. Claris Market Metrics report. This shows you that people that overpriced stay on the market for three times as long and they have two price reductions. So the data really helps. When you put all that together, it's a slam dunk.
