Managing price reductions is the single most important skill for real estate agents and teams. As inventory rises and days on market increase, listings fail to sell unless agents earn the right to ask sellers for price cuts.
Everybody listening to me right now, you better go back to the drawing board and master this one fundamental price reductions. Inventory is growing, average days on the markets growing. So that means as you're going to get more listings, you're also going to have more listings failing to sell. And we do not want to do that. We want to make sure when we get listings they sell. And you can sit here and say, yeah, I'll just price them right. Yeah, okay, whatever. If the market was to decline, then your price right today is not priced right in 30 days because the market actually could go below where it was in a 30 day period of time. All teams, all brokerages, all agents study how to communicate and earn the right to ask for price reductions.
Spend time with the leader of a team ridge doing nearly 4,000 transaction sides per year. Check out episode 37 of Real Estate Team OS.
Zillow, PPC, Referrals… what’s actually working in today’s market? #realestateteam
