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Real estate agents should drive sellers past competing homes to show them how condition and pricing compare. One agent's buyer chose a cleaner, better-priced home over nearby alternatives, proving the strategy works.

Real estate agents should drive sellers past competing homes to show them how condition and pricing compare. One agent's buyer chose a cleaner, better-priced home over nearby alternatives, proving the strategy works.
Sellers need to know what is under contract right now, how long did it take it to sell, and what do those prices look like. When the market is normalizing, you'll start to notice that the people that are selling tend to have a reason to sell. So that might mean that you've shown 8 houses and all 8 of them look distressed. Well, that's an indicator of what's coming into the market, but you still want to compare those to what's available and what's gone under contract. I have found that it's a great opportunity to educate sellers. Put them in your car and let them go see those 8 houses on the market right when they list so they know how they stack up compared to their competition. One house that I recently sold, the buyers were floored by what a deal that last house was because as compared to the competition, it was clean, it was updated, and it was priced the same as other houses that were not clean and not updated. So, hmm, those competitors made this one sell.