Everything you need to know about the price reduction conversation.
How do you discuss price reductions with your sellers? Ideally, these conversations should take place when you are preparing to list their home—you don’t want the seller to feel like they’ve left any money on the table.
Discuss the high and low price ranges with your seller before you list the home. Be preemptive. Let them know that while you intend to start on the high side, you will be adjusting the price along the way.
Give them a timetable and conditions for a price reduction upfront. For instance, should the home not see any offers or showings in the first 10 days, then you’ll decrease the price by $10,000.
The conversation about price reduction should be part of your price discussion at the listing appointment when you’re getting the listing signed.
Sellers want to make top dollar, and buyers want a good deal, so early and effective communication is vital. If you have any questions about discussing a price reduction, give me a call or an email. I’d love to help you out.