price Reduction Script & Hustle your listing Script
1. Mr. and Mrs. Seller … based on my knowledge … it seems you’re still the highest bidder for your home … we need to go ahead and reduce the price by 5% or 10% … tonight!
2. Hi ____ … I’m calling in with your weekly update … in the last 7-21 days, we’ve had _____ showings … and _____ offers … As we’ve discussed… it’s time to … reduce the price … so we can create some activity and receive the showings we need to get you an offer.
3. On a scale of 1 – 10 … 10 meaning … We must move now … 1 meaning we’ll move only if we get our price … where would you rate yourself in terms of your motivation to sell this home?
4. We’ve been on the market for _____ (number of) weeks and we’ve had ______ (number of) showings and_________ (number of) offers. it’s time to … reduce the price … so we can create some activity and receive the showings we need to get you an offer.
Clearly, you are starting to realize that buyers are not willing to pay your price. So we can… REDUCE THE PRICE…. now by 5% or wait another month and be forced to reduce it by 10 percent. Which one of those would be better for you in the long run?
Softer Script for someone who has marketing concerns
Let me ask you a quick question, _____ (Mr./Mrs. Seller). If you needed milk and one grocery store, say__________ (local grocery store in the area), had milk at $2.98 a gallon and a store very close to that grocery atore had milk at $9.98 gallon, where would you buy milk?
What if the store had dancing bears on the corner, holding up signs saying: “Milk $9.98 a gallon”- Now where would you buy your milk?
And what if the store had helicopters with paratroopers jumping out and spotlights on the paratroopers who were holding signs saying: “Milk $9.98 a gallon” would you still buy your milk at the (local grocery store in the area)?
Of course, because the ________ (local grocery store in the area) had the best value. See it doesn’t matter how many people I tell about your home. It sells when the buyers see the value.
Let’s make certain that we get you what you want and position your house where it will sell. So the questions is: Do you want to ….REDUCE THE PRICE… or reposition your house in a new category where it will sell?
If you and your seller are aggressive personality styles
(stating you need to advertise more)
We certain can, yet then we would tell more people you are overpriced? (Zoinks!) We know your house is great, we know our marketing works, And as we discussed when you hired us all we were testing is the price. So do you want to do a 5% or a 10%
Go back to Motivation: Script 1
Let’s do the right thing and get you and your family what you want in the time you want. All we have to do to achieve your goal is to reduce the price, so we can position your house in a new category and get it sold.
Go back to Motivation: Script 2
So, let me check with you on your goals again. You said you wanted to be in __________ ( location) by ________(date), right?………….Well that means that we must sell by _______(date), since it takes almost 4-6 weeks to get the house closed once it sells. __________(Mr. & Mrs. Seller), I don’t make the market, I only interpret it. And the market this week states that_____ (dollar amount) is the price that will…. SEL YOUR HOUSE…. and get you to ________(location) in time.
So the question is: Do you want to stay here and wait for the market to catch up to the price of your house and take the risk that as predicted we are at the top of the market or do you want to …. REDUCE THE PRICE NOW…and …. GET YOUR HOUSE SOLD…. and your family moved to ________________( location) in the time frame you are asking for?
Close for Price Reduction
Frankly, ______(Mr. & Mrs. Seller), I’s here to help you and if at any time I make you feel uncomfortable, then you know I am telling you the truth. You did want an agent that would tell you the truth, didn’t you?
FOR SELLERS’ MARKET -Our market is hot. Things are selling, yet if we are overpriced we still stay on the market week after week, month after month. We will just be helping other homes sell, right? Let’s get it reduced today. We will reposition it to attract the right buyer.
FOR BUYER’S MARKET -Our market isn’t the best one I’ve had the opportunity to sell in, and I tend to make people uncomfortable when I ask them for a price reduction. It isn’t about their house and whether it is a great house or not; it is about the market. And even though I don’t make the market, I do know how to interpret it. The marketplace is telling us that, in order to…. GET YOUR HOUSE SOLD…. and get you to__________ (whatever their motivation), then we must…REDUCE THE PRICE TODAY. Did you want to d the normal price reduction or the drastic one? The normal is 5% and the drastic is 10%.
Hustle your Listing Script for Showing & Open Houses feedback to get an offer
Call the agent representing the buyer
Does the home fit the needs of your client? (If it does or doesn’t) What other homes are they looking at?
Are we in the top 2? (If not) What would it take to get us into number 1?
Is the current list price a factor in the buyer’s consideration or decision-making?
If they were to make an offer, how much would they make it for? or If they were to make an offer of fair market value, how much would that be?
(If they say I don’t know) Would you mind asking your clients that question? If that is an issue, if I could assure you no matter what they came in at, I would provide you with carefully considered counter, would you WRITE IT UP.
(Note: Make a reverse offer only if hustle doesn’t work. 5-10% below and make the offer good for two days and send it out to all the buyers who have seen it.)
(Conversion with the sellers- putting the house on sale) Why don’t we put the house on sale and see if we can get multiple offers going. (We have to put the verbiage in that we are doing it for all parties.)
Counteroffer- When you counter an offer lower the price on the MLS to match the counter.
Great let’s counter the buyer at $____________ Also let’s match this price on the MLS. Since you are willing to accept this price for this buyer…. let’s offer it to all the buyers at this price to attract additional interest. Also, it will cause fear in our current buyer and encourage them to act quickly to avoid multiple offers or continuing to negotiate and drive your price down.