A real estate agent explains a pricing strategy addendum all agents must use on listings. It documents asking price versus market value, requires 30-day reviews, charges $695 at closing, and auto-extends unsold listings 90 days. The speaker says it protects both sides and generates serious income.
This is a must use for everyone in this group. You're filling this out for every listing. And the most important part here is a listing, the pricing strategy agreement. It's very rare that we write in pricing adjustments, but we say, okay, Mr. Seller, we're going to give our, give it all at, you know, at 250, even though the data supports 220 to 225. We're going to start at 250, but we're going to. And as I'm saying this, you write TBD, TBD, TBD. We're going to meet every 30 days, TBD, TBD, TBD. To discuss what's going on in the market. If the market's responding to the price that we're asking and end of it, and if you're unhappy for any reason, give us 24 hours. If we're not happy, you can cancel at closing. There's a 695 transaction fee. It's part of your closing cost. It handles the contract to closing portion of the transaction. If for any reason the property doesn't sell in the six months we have it listed, this will just automatically extend the listing for 90 days so you don't lose any time on market. This acknowledges that you looked at the market conditions. We went through the observation absorption analysis, you know that it's a seller's market or it's a buyer's market. And just initial here. Even though we're gonna fight for your price, you know, we agree that there's no Data to support 250. So just go ahead, initial here. This doesn't really mean anything. It just, I don't want you to have you come back and be pissed off at me when you know the market doesn't respond to 250. Even though we're gonna give it our marketing, our full on marketing onslaught type effort. So go ahead and sign here, sign here. This is a valuable document. This document will make you lots of money, lots and lots of money.
