Three Key Strategies to Help Sellers Lower Their Price

Being thoughtful and strategic is vital when bringing up the topic of price reductions with your home sellers. You’ll need to maintain constant communication, do your research, and be patient. Here are three key strategies to help sellers reconsider their prices:

1. Manage expectations.
   Let sellers know that prices are less predictable in today’s shifting market. Tell them right away if their home isn’t getting enough traction. You should also ensure they always feel in control of their choices, even with your price recommendations.
2. Back up proposals.
   Hearing your strategies for lowering their price won’t be as difficult if you let your clients know what could happen as a result. Back up your price reduction proposal with current market facts and explain how reducing the price could increase offers.
3. Find the right price.
   Ultimately, sellers will decide on the price reduction. But you’re the expert and need to educate them with the latest data on comparable sales in their area.