The Easy Way To Get Sellers To Adjust Their Price

Hey guys, now that the market's becoming more competitive, one idea to help your sellers be more competitive is to use the "Buyer Eye Strategy."

What's the "Buyer Eye Strategy?"

When you're sitting with the seller and you've just listed to the property, you might say something like this:

"Hey, Mr. And Mrs. Seller, now that we got the property listed, here's what I'm gonna do when I get back to my office. I'm going to treat you guys as if you were a buyer for a property that's very similar to yours. So here's why I'm doing that:

"I'm gonna set you up an MLS on a search pattern that's gonna include your house, but also any other houses that are listed that are similar. This way, you're gonna see everything in real time, every single listing that's happening. Every price reduction, every pending, every closing that's occurring in your price category. And this will really tune you into the market.

"And if you decide, Hey, look at this as a new listing over here, that's doing this and they did this. I like their marketing remarks or look at their new price. You're gonna be able to see it at the same time that I see it. And we can make some adjustments and have conversations about it. I just want you to be in real time, up to date on what's happening in your market area. So I'm gonna set you up for that. Is that okay?"

Boom. They get set up for it. Now every Monday morning, when I'm doing my Monday morning power hour, I'm having conversations with people I can say, "Hey, see that new listing that got sent over last week? You know, it looks like it was really competitively priced. I think they came in under us to try to undercut us. Your call, your decision, but do you want to be a little more competitive, maybe adjust our price so we can actually capture those buyers before where they do?"

Those are the conversations that will lead to price adjustments, which as what we're gonna all need as what this market starts to change.

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