A real estate agent explains how to negotiate with sellers who overprice their property. The gap between asking price and market value can be millions of dollars. The strategy: get them to accept small reductions first, then use those wins to push further down.
Chapters
Sorry to add. So he's probably trying to convince the seller to sell to him, and the seller probably said, well, I want $15 million, right? I want $15 million. So now the seller's thinking it's worth $15 million. So he's probably coming in like, I can get you $12 million. The conversation he has to have with the seller from $12 million to $2 million is one of the hardest conversations because the seller's not going to see that. Even with the facts, they're going to fight it. They fight us all the time. So he's— he was probably just trying to secure a win here so he can later on secure another win here. And so, yeah, it's difficult having the conversations with our sellers. So he's again going against property. Yeah. You gotta be responsible about this, right? But people are afraid of having the tough conversations.