So yesterday I got two offers on two different listings. One was 36,950 low and the other was 31,950 low. While the market is still nothing to write home about I’m seeing consistent improvement all over the market and forecasts from The National Association Of Realtors that values are slowly but surely on the rise.
I think it’s time we start preparing to re educate our buyers about the market conditions and enlighten them on the fact that they are no longer going to be able to steal properties. If they are bottom feeders perhaps they need to stick with the distressed properties and even them I’m seeing banks be much less negotiate than you would think as well.
Needless to say both of the offers were insultingly low and offended both my sellers to the point of not really wanting to negotiate at all. We’ll see if we are able to come to terms some how. In any case it inspired me to share and I actually went to the book I wrote, Now What Do I Say? to look up objection handlers for buyers in these types of situations to see if we had included any in our book and I found a few and thought I’d share in case you are coming across similar situations.
So the buyer says, “they’re asking too much”
Here are a few we wrote in our book:
I understand you don’t want to pay more than a certain amount for the home. And, after reviewing the market analysis and seeing all the other homes we’ve looked at, you chose this one. You saw that it’s priced well within the market so why suddenly do you feel so strong about not coming closer to their list price? The average list to sales price ratio across the board is x and you aren’t even close to that at your offer? Do you really want this to be your home or are you just looking for a below market deal?
They’re asking too much? I understand your concern and just so I’m clear, I’m curious, what specifically causes you to believe they’re asking too much? I’m on your side here and to negotiate strongly on your behalf I need to understand where you’re coming from so I can present to the listing agent why we feel our offer is justifiable. The market analysis shows they are priced exactly where they should be, which means you can buy this home even at full list price and feel comfortable knowing that you got a nice deal. And hopefully, we’ll be able to negotiate an even better price. Let’s crunch the numbers and make a reasonable offer, okay?
I think before even looking at properties we need to sit down with our buyers and discuss the market statistics with them. Share the overall market statistics with them just as we do our sellers when discussing listing their homes. Reveal the list to sales price ratio for the areas they’re looking in, the average days on market, etc. Just because a home has been on the market for a while doesn’t necessarily mean the seller is going to give it away. In our market the average days it’s taking a home to sell is just over 200.
Obviously we are on one side or the other in most cases we are either representing the seller or the buyer unless we’re practicing dual agency and we’re looking to get our client the best deal possible. There is reasonable and then there is completely unreasonable and I just think it’s something that needs to be brought to the table with both buyers and sellers in today’s market.
I hope everyone is on track to making 2013 YOUR year! The market is strong and seems to be consistently improving. It seems a great year for taking your business to the next level and if I can support you with that I would love to. If you haven’t already purchased our book and would like to discover over 400 answers like the above to more than 70 of the most common objections we face, please visit our website at www.yourethedifference.com to purchase your copy. We offer it in an immediate E book, in an audio format, and we have a live role play program with the 12 most common objections we face. If you prefer the published version you can get that on Amazon.com
Also, don’t forget about our upcoming Expired & FSBO Course beginning Feb 21st, here is the description:
Discover how Christy was able to grow her business from 0 to 35 deals her first year in the business in a brand new town where she didn’t know a soul. 95% of her business this first year came from working expired and fsbo listings.
Learn how she perfected and streamlined the scripts, the follow up, the mailings, and the objection handlers to grow her business from 35 to 140 deals a year in less than 5 years.
Beginning on Thursday, February 21st 2013 Christy will lead a six week tele course sharing exactly what she does and has learned. She’ll spend the first three weeks on Expired listings and the second three weeks on FSBO’s.
The cost for the course if you sign up before February 1st is $149, after February 1st it’s $199. The course includes her scripts audio program which normally sells for $50.
Each call is one hour long and again, will run from 12:00 to 1:00 EST. Each call is recorded so you can listen and download each week’s call for future listening.
The course also includes a hard copy of the scripts and the mailings that Christy sends to both expired’s and fsbo’s. Each week she will reveal a powerful NLP language pattern designed to help you communicate more confidently and conversationally.
Jump start your business and take it to the next level this year with this intense course designed to help you immediately start taking more expired and fsbo listings. Allow Christy to share her experience of over 23 years in the business so you can replicate it in your own business.
It’s packed full of information, motivation, inspiration, and all the skills you need to be as successful as you choose to be.
The course traditionally fills up quickly so please visit our website at www.yourethedifference.com to sign up today. Just click on our products page and click on the FSBO sign to add to you cart.
“Christy Crouch is the co-founder of You’re The Difference Sales & Life Coaching, co-author of the highly acclaimed real estate objection handler book, Now What Do I Say? a collection of more than 400 answers to over 70 of the most common questions and objections faced in the real estate industry. She is still an active agent in Virginia, has participated in closing thousands of transactions in her career, was inducted in the RE/MAX Hall of Fame for her production. Christy is in the top 2.3% of her marketplace. Her goal is to share what she’s learned with other agents to support them in having a highly successful real estate sales business while having a happy and balanced life. To learn more about her coaching and products please email her at firstname.lastname@example.org or visit her website at www.yourethedifference.com