Boost Your Sales with This Proven Price Adjustment Script Before Summer Ends!

As we approach the end of summer, many listings might still be lingering on the market. Currently, two-thirds of listings in the U.S. have been on the market for over 30 days, and 40% have been on the market for over 60 days. We're seeing more listings and less activity on the sales side, leading to a buildup of inventory and a shift toward a buyer's market.

If you have a listing that’s been on the market for a few weeks with little activity, try this script:

"Hey, Mr. and Mrs. Seller, this week I’m refreshing all my listings. Here’s what that means: I’ll be updating the lead photos so your listing looks new in the MLS. I’ll also revise the property description and review all the data points to ensure everything is accurate.

I’ll also schedule a 'meeting the market' to discuss any potential improvements to the listing. This meeting involves considering any incentives we might offer buyers or buyer’s agents. For buyers, we could consider offering to buy down the interest rate, contributing to closing costs, providing down payment assistance, or offering a home warranty.

For buyer’s agents, we could increase the commission from what we initially offered. If we started at X percent, maybe increase it by half a percent or a quarter percent to provide extra incentive.

Additionally, I’ve been reviewing our peer group and similar listings that have sold in the past month. Out of four comparable listings, three had significant price reductions before they sold. Therefore, it’s worth considering a price adjustment.

Here’s why a price adjustment could be crucial: I’d recommend scheduling an open house for your property. The number one marketing tool to get your house in front of every active buyer in your price category is a price adjustment.

When we adjust the price, it will trigger an alert in the MLS for every buyer searching in your price range. They’ll receive an email notification about the new listing or price reduction and be encouraged to take a second look. In the remarks, we’ll mention that the house is being held open this weekend. This approach ensures that hundreds of potential buyers, the so-called 'backlog,' will be notified about the open house and the price reduction."

This strategy is an excellent way to put your house in front of every interested buyer with targeted precision. Ultimately, the decision is yours. You can opt for a small price reduction or a more significant adjustment. Typically, I recommend a minimum 5% price reduction to attract more motivated buyers.

Have these conversations with your sellers today to increase the chances of closing sales before the end of summer.

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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?

+ 32 Years of Real Estate Sales, Management, and Coaching Experience
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