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frequent objections during the meeting for the price adjustment and answers

Salvatore Coddetta, trainer specializing in real estate

Whenever we discuss the price with a seller, you are going to receive to meet some objections. Remember, the only objections are unanswered questions, revisited. Sellers are very emotionally attached to their homes, which sometimes affects their rationality. Here are six common objections that you receive during the meeting with the seller to the owner of the house price adjustment and its effective solutions to keep your job and your income on track:

Objection 1: "We want to reduce the price of our home just a few thousand euro, say 1,000 or 2,000 Euros."
You're often faced with this type of objection. The strategy is quite irrational and will be ineffective because it does not adequately address the problem of price. Here are two ways to respond to this objection:
Real Estate Agent: "I understand your concern. Signori sellers, if we had sold the house at a price close to that market, now we would have at least a few offers. If you were a buyer looking for a house and make a donation of 1,000 or € 2,000 lower than the request, the seller would be difficult not to consider it, right? The same goes with your home. If we were in the range right now inquest would be employed to receive proposals. The key is being first in the price range right, the price range of other comparable houses on the market with your ".

Real Estate Agent: " The market does not recognize the price reductions of less than 5%. ".


Objection 2: " A other employees of the "Real Estate Lie" told us that our house is worth more than its market valuation ".
This is a common objection of many proprietary vendors. They are inundated with many real estate agents who try to get their job telling sellers that their house is worth more money than you really can get.

Real Estate Agent: "I understand your concern. Gentlemen sellers, no matter what you say, that this is another agent, appraiser, your banker, your neighbor, anyone! The only person who really knows the value of your home is the buyer. What anyone else thinks is really irrelevant. Are not the buyers of the house. As someone wants to dictate the value of your home, the market is the ultimate judge ".

Real Estate Agent: " A lot of agents will try to convince you that your home can sell for more money. Real estate agents do not have control of the value of homes. The market determines the value of houses. Let's make a professional assessment with the synthetic comparative method ".

Objection 3: " Rather than replace the carpet (repainted the walls, change the tiles, etc.), we find a buyer with a check ".
Feels This is because Sellers often do not want to spend extra money on a house they are selling. It may seem logical, but really jeopardizes the quality and value of their home, when shown to potential buyers.

Real Estate Agent: "I understand, but remember, buyers make decisions to purchase based on emotion, then justify the purchase decision with logic. Imagine the feeling of a buyer who walks into your home, and sees smell of a new carpet. It makes a big impression. You see, I just want to do everything possible to strengthen the emotional impact of your home on the buyer to make you get the highest sale price possible " .

Objection 4: "We need that money to buy our new house in another area
" .
The seller often sets the price of his house on the basis of what he wants to buy, not on what a buyer is willing to pay. With this claim, the seller asks you to help him get into his new home, not only to help sell the old one.

Real Estate Agent: "I understand your need to gain from the sale of your home the money to buy a new one. However, the amount of money needed to buy your new home and what a buyer is willing to pay for your not are connected. Maybe what you're asking is: how can we buy our new house with the proceeds of this. And 'this is the case, am I right? Let's take another look at the numbers and see if we can find a way to do both operations.

Objection 5: "We're asking to make improvements on the house and lower the price, but you do not are willing to reduce your Commission .
This is a variation of "we want you to lower the commission" objection that you often hear during the meeting in acquisition. This argument is made even when the sellers feel they are paying too much to sell their home is a matter of perception value of the service that you have in return. I somehow think that sellers should also reduce part of your committee if their house has a wrong price or has other problems.

Real Estate Agent: "I understand your concern. The condition of your home and the final sales price is unrelated to what I earn for my services. Let's have another look at our business plan and tell me what are the items you want to delete ".

Real Estate Agent: "Reducing my Commission will decrease your chances of selling the house. Less money means less money for commissions for advertising and less money for rest of our marketing plan ".

Objection 6: " We have a structural problem, but we will not tell the buyers ".
add this because I wanted to happen sometime in your career. If you hear people say this I strongly urge you to be strict with your customers or end the relationship. There will be no more assignments. Your reputation is something that can not afford to be damaged. You can tell these people that:

Real Estate Agent : "I understand your concern, but I can not take a position without ethically disclose everything to the buyers. If you want to proceed with the signing of the assignment is necessary to fix the problem and identifying its existence to potential buyers. There are other areas that we need to discuss? "

Wishing your success in real estate,

Salvatore Coddetta , trainer, expert real estate

Final Tip: Salvatore organizes training courses for real estate professionals. For information and registration visit www.formarealestate . info@formarealestate.it it or write to or call 06991969 54

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effective strategies for the adjustment of the sale price of owner-seller How to manage the

Salvatore Coddetta, trainer specializing in real estate

There will be many times during his career di agente immobiliare professionale che avrai bisogno di modificare il prezzo di vendita della casa del venditore. Ecco una regola generale: se la casa è sul mercato per il 75% del tempo medio di vendita per la zona, hai bisogno di parlare di riduzione del prezzo con i proprietari venditori. Ad esempio, se il tempo medio di mercato nella vostra area è di 100 giorni, è necessario parlare con i vostri clienti venditori intorno al 70 ° o al 75° giorno. Usa il tuo giudizio, però. Se stai effettuando molte visite e prevedi di ricevere una proposta a breve, o se hai un acquirente che sta tornando a rivedere quella casa per la 2 o più volte, si consiglia di non ridurre il prezzo di vendita. In caso contrario, il mercato sta dicendo chiaramente that the house is not sold at the current price. At that point, you will need to convince the vendors to adapt their selling price.

An important note: when you go to a meeting with the owner seller for a price adjustment, not ever settle for anything less than 5% of original asking price. Preferably, you should go to get a 10% reduction or more, depending on market area and how it is acquired from his ministry. Small adjustments on houses that are priced much higher than their market value, usually have little impact on the market. Your sellers will think to make a liter of blood, providing a reduction of 5%, but buyers will be still cold. Here are the best times to discuss a price adjustment:

• When capturing! Already during the appointment to capture you need to talk with the owner of the seller to reduce the sale price, especially if one believes that the request is greater than 20-30% at market value. Ask this question: "If, in 60 days, we get offers for your home, how much you want to adjust your request to market value?" When responding, you can ask if they want to do it now, instead of losing money (interest , time, energy, etc.) while waiting for the market to tell us to do so.

• Write your adjustment in his role as the sale of the house. Many agents write the adaptation of the selling price directly on commissioning: "If you can not sell the house within 45 days of signing this agreement, the seller must reduce the price of x €. Moreover, if the house fails to sell within 90 days of signing this agreement, the seller must reduce the price of x € ". This is a very powerful tool for use with the sellers are very reluctant to grant the power to sell your home at a reasonable price.

• Immediately after submitting the property to other real estate agents. If you receive more than one negative feedback from others on the price Agents who work with you, go directly to the seller and tell your customer what your colleagues are saying about the price.

• After 75% of the average selling time for that. sometimes even before, depending on the level of activity and comments.

• If there are few visits in the first 4 weeks. If you make very few visits in the first 4 weeks, go to the seller client to obtain a reduction of the selling price.

• If you make a lot of hits, but no offers. something wrong with the house, where many people visit and no offers. Once a real estate agent I know told me that I have a job (with a heavy heart, and learned the lesson!) from a seller that the owner was on the market value of 30%. He said he made over 500 appointments in sales and retired only one proposal, the lowest 10% of the vendor's request. Sellers have declined the offer and the potential buyer withdrew the deal.

• Are you receiving more than a low bid. When more than one buyer makes a low offer, it is necessary to reconsider the price of the house. Bring your clients sellers to consider all offers. The lowest tenders are the best proof that the price is high.

• Have you lost a buyer for another home. This is an exciting time for sellers. It 's also the best time to discuss price reductions.

• Sellers are upset because their house is not visible. When sellers are angry are more motivated. They may have to complain about the lack of hits, probably because of the high price. In this situation you need to meet with them soon to discuss the issues of marketing and pricing.


Wishing your success in real estate,

Salvatore Coddetta , trainer, expert real estate

Final Tip: Salvatore organizza corsi di formazione per professionisti immobiliari. Per informazioni e iscrizioni visita il sito www.formarealestate.it oppure scrivi a info@formarealestate.it oppure chiama il numero 06 991 969 54

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'power to sell

di Salvatore Coddetta , formatore specializzato nel settore immobiliare

Qual' è la strategia più importante che si può impiegare con il cliente venditore? Hai detto, "comunicazione"? Se è così, hai detto bene. Questo suona semplice a molti agenti immobiliari, tuttavia molti di loro cadono proprio su questo punto. È necessario stabilire regolari comunicazioni con i clienti per tenerli aggiornati sullo stato del loro incarico. Ci sono due ragioni fondamentali to do this:

1. when customers do not feel anything, you automatically think two things:

1) are not doing anything to sell their home, and 2) Is there a connection between the fact that you are not doing anything to sell their home and the poor results you're getting. Regular communication is the cornerstone of your current assignment. It 's also a great way to search for references.

2. In about 60-70 percent of your assignments, you will be asked to speak with clients sellers to reduce the selling price of their property. It will be harder and you need more time to convince sellers to lower their selling price itself does not establish regular communications periodically for updates on the status of their assignment.

We strongly advise you to implement two standard systems in your practice starting today. These are:

1. Program in your agenda of regular meetings with the owners vendors, personal or telephone, to update them once a week on the status of their assignment. Make sure your customer receives a standardized report on marketing activities that are done to sell your property so you can review together. Some real estate agents actually write nell'incarico that the customer agrees to meet with the agent once a week to discuss of this assignment, talk about the best marketing strategies for selling the house and the results that you are getting. You (or your partner) should also call the customer to the seller at least once a day each week, in addition to the meetings. If you do not know what to say, you talk about a marketing strategy recently that you just used to sell your home, or the results you're getting.

2. Make a standardized report of marketing activities used. Note the word "standardized". I use this word because it provides, from week to week, about selling the house in a consistent format. The vendors will more easily understand what you are by every week to sell their home. Use a standardized report will also allow you to better manage relationships with vendors to manage their assignments. I have included an example of this standardized report of marketing activities that show you here below. Your report of marketing activities should be divided into two sections as follows:

Section 1: Market Value. Create a simple form where you can show the activity of real estate in the area. The market activity shows an overview of current transactions, pending completion and closed for the area in question. E 'can also show the average time of sale, % reduction in the selling price than the original request of the owner of the seller, the price per square meter, etc.. The real estate agent or the employee can easily generate a weekly basis this data via their MLS.

Section 2: Marketing strategies and results. This section simply lists the marketing efforts you made to sell the home seller and the results of each effort. This list relates directly to the marketing action plan that the seller had promised to implement when you had given the job in writing and exclusive. Be sure to list the strategies they use, results that take you and the comments received regarding the home. For example:

Appointments for sale: the numbers of visits, the second of the visits and comments from potential buyers
outgoing calls to contacts database: numbers and comments
Incoming calls from advertising: numbers Comments and
Any serious buyers or offers: Issues and comments

Wishing your success in real estate,

Salvatore Coddetta , trainer, expert real estate

Final Tip: Salvatore organizes training courses for professionals Estate. For information and registration visit www.formarealestate.it info@formarealestate.it or write to or call 06991969 54