Page 49 - New Agent Real Estate training book

Agent: Well, I think if we reduce the price by ______________ we’ll be much
more competitive in this market.

Seller: But, you’re the one who put the home on the market at this price…

Agent: You know, you’re right. My goal is to get you maximum dollar. And I’ll
always try to get you the best price. Now that we’ve shown the home to
several potential buyers we know that it’s a little on the high side so it’s
time to adjust the price to what the market is telling us. My professional
recommendation would be to adjust the price to $______. Why don’t we
do that and let’s see what kind of response we get. And then, for your peace
of mind, every Friday I’m going to give you an update on what’s happened.

Seller: What if a buyer sees that we’ve lowered the price and offers us an even
lesser amount for our home?

Agent: We can always say ‘No’ or counter back on a lower offer—at least
that would give us an opportunity to negotiate. Right now, the silence is
deafening. Why don’t we adjust the price and see if that will generate an
offer that will get you moving toward your goal of getting your family into a
bigger house before the holidays.

Seller: Okay, let’s do it.

Additional Price Reductions

If the listing is still not getting activity after a price reduction, you may need to continue adjusting the
price. If the seller becomes frustrated, here is a frustrated seller script.

The frustrated seller roleplay Script

Agent: Hello _______, this is ___________. (on phone with Seller)
Seller: How are you?
Agent: I’m fine. I’ll be doing a lot better once we get your home sold.
Seller: Me too.

Agent: I wanted to call you so we could talk about getting it sold. You know,
Mr./Mrs. ________, your home has been on the market for three months now and we’ve
only had three showings.

Seller: Yes, I thought we’d have more than that.

Agent: I wouldn’t be surprised if you’re frustrated and a little upset right now,
but just so you know…that’s normal for someone in your position.
You were probably hoping your home would’ve sold by now and you could move