Procuring the perfect listing and arriving at the perfect listing price begins by listening. There is a good chance that the seller is nervous. This is an important decision. Finding the most qualified agent to handle the sale of their biggest asset is serious business.
You have arrived at the home prepared. You are confident with a market value range. Your official tour of the residence may lead you to make some recommendations about improving the “showability” of the home. Do not be timid about these recommendations. Your expertise is part of the reason you are there. Convey your qualifications.
When you arrive for the tour, know the fair market value range. Let the tour, the showability of the home, the amenities and the condition of the lot and neighborhood determine where in that range the listing price should be. You have determined that this is a listing you want and a client you are comfortable representing. Most likely you determined this a while ago, but now it is confirmed.
There are only three possible outcomes to this meeting. In the ideal world, you and the seller will agree to the marketing plan and listing price, the listing will be signed and tomorrow showings begin.
Another possibility is that the seller likes your marketing plan but disagrees on the listing price and agrees to list at a slightly higher price, but at a price in your original range. This can create several possibilities but you will most likely accept the listing and agree to follow your marketing plan as long as the seller is aware that the listing price is slightly above market value.
The third option is the tough one. You and the seller are far apart on the market value listing price and the seller’s required listing price. Some agent’s stick to their guns. Sometimes they get those listings but most often they do not. This is a critical time. Reverting back to our earlier commitment, we are motivated to act professionally, treat our clients and ourselves with professio0nalism and be true to all parties.
We hate to admit it, but determining absolute fair market value is not an exact science. We have all be surprised. With this in mind, we do not burn our bridge and we do not put a line in the sand. Instead, we welcome the challenge and display determination that is above and beyond the call of duty.