Super Smart Real Estate

SSRE009: Using feedback gauge price reductions on your listing

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Have you been on the market for over 30 days? Chances are your home is overpriced. Listen to this 20 minute podcast and discover EXACTLY what to do.

  • Learn who’s opinion most matters when it comes to selling your home.
  • How to get valuable buyer feedback
  • Three specific questions to ask buyers who previewed.
  • Following up on feedback to get your home sold.
  • What to do if your listing is getting no traffic.
  • When price reductions are necessary.
  • Scientific process of making price reductions
  • Which market place metrics are most important.
  • How to take current inventory / competition into consideration
  • Best chance of going from NO offers TO MULTIPLE offers
  • and more…

    • Quick Tips from Matthew

    Agents have a VERY POWERFUL Sales Funnel to market homes, also known as the Multiple Listing Service (MLS). When homes are priced right they sell well in MLS. We look to marketplace feedback when listings do not sell to give us an indication of what’s holding up the listing.

    Occasionally there is room for improvement in the listing itself. Typically it’s price holding up the sale though. Especially if your home has sat on the market more than 30 days without any price reductions.

    When you reduce your price you need to BRIDGE THE GAP between buyers and sellers. If you do not EXCEED that gap then you are not keeping up with market and loosing opportunity to sell.

    Sites & Podcast Downloads

    • Buyer Preview Feedback Template (for agents) exact template I use to get nearly 100% feedback on buyer agent previews as well as the three questions you need to ask of buyers to get your home sold.
    • Feedback Worksheet no contract in first 30 days? Go through this worksheet every 30 days until sold.
    • Feedback Metrics and questions
      • Absorption rate number of homes sold in your community in last 12 months to number active & under contract now.
      • Similar Homes on Market how does their price compare to your list price?
      • Average Days on Market what is average days on market?
      • Original List to Sold Price Ratio how far apart are sellers and buyers?
      • Real Estate Search Engine Hit Count how many hits is your listing getting on the internet?
      • MLS Hit Count how many hits is your listing getting in the MLS?
      • Number of Buyer Previews how many buyer previews have you got?
      • Buyer Agent Feedback Received what are “qualified” buyers saying about your home?
      • Number of offers received have you negotiated any offers? If so how close to your list price?

        • More Information

        This post is intended to help anybody, agents or sellers on the market. Make sure to share this with anybody you feel might benefit from the information be it friends thinking of selling and or listing agents you’re working with.

        If you do not have a listing agent feel free to check my team out and learn more about our sales process at KeysToAz.com/Selling/

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        Super Smart Real EstateBy Matthew Jeschke, Real Estate Agent, Investor, consultant, and super nerd
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