1. Seller Pricing Strategies
Pricing Your Listing to Sell

2. MAIN IDEAS
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3. Main Ideas Perspective on Pricing Strategies Study Your Market
Approach Sellers
Get the Right Price!
Manage Your Listings in a Buyers’ Market
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4. PERSPECTIVE
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5. Perspective on Pricing Strategies
When the market shifts toward a buyers’ market, the listings sit! Don’t let that happen to your sellers.
In a buyers’ market, real estate becomes a commodity.
Only properties in good condition and priced right will sell in a buyers’ market.
Price can correct bad condition—but condition won’t correct bad price.
Correct pricing represents 80% of your marketing effort.
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6. Perspective on Pricing Strategies
Your Role in a Buyers’ Market
When houses sold in a matter of days, agents were undervalued, but now customers need you for your
Pricing strategies
Market knowledge
Buyers
Fiduciary commitment
Knowledge of financing options
Negotiation skills
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7. Perspective on Pricing Strategies
What Are the Opportunities?
- Opportunities for Agents
- Opportunities for Sellers
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8. Get Ready, Get Set, Go! SHIFT happens!
Maximize your effectiveness as a consultant to your sellers.
Get Ready! – Study your market
Get Set! – Prequalify your sellers, update your listing presentation
Go! – Get the right price
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9. Getting the Most Out of This Experience
The Prisoner
Has to be there, doesn’t want to
be there, and doesn’t know
why they’re there.
The Vacationer
A day in training is
Better than a day on the job.
The Explorer
Excited and curious about the new knowledge, skills, and tools
they will discover in class.
Doesn’t engage
Spends as much time chatting as listening
Listens attentively, then participates fully in discussions and exercises
Spends class time catching up on their s
There to have fun—distracts the class with irrelevant comments
Asks meaningful questions and contributes compelling aha’s
Escapes by spending time in the hall on their phone
Returns late from break and lunch
Arrives to class on time and returns promptly from breaks
Holds on to limiting beliefs
Not purposeful in their learning goals
Adopts a posture of acceptance
Multi-tasks on their computer by working on side projects
OMG! Spends the day on their smartphone, texting and checking Facebook
Takes notes in their manual for future reference
Picks fights with trainer or other participants if they don’t agree
Isn’t paying attention
Respects the different learning styles and opinions of others
Hopefully, you picked “The Explorer!”
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10. STUDY YOUR MARKET
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11. Study Your Market Be the Local Market Economist
Be more knowledgeable than the headlines—research the local conditions and trends that will affect them.
Preview more properties to get a better understanding of what is on the market.
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12. Study Your Market Analyze the MLS
Take time to study and internalize the statistics that are reflective of your market and which matter to your sellers.
Choose numbers and statistics from the MLS and use the data in a sentence later that same day.
Choose a partner from your team or Market Center with whom you can practice the numbers. Meet weekly.
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13. Study Your Market Analyze the MLS
Use your local MLS to track market numbers in their price range.
Take the shifting market into consideration when evaluating the comparables.
Get the big picture. Buyers will prioritize the deal, rather than the area. Your sellers are competing with homes in their price range all over town.
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14. Study Your Market Use Formulas and Graphs
Enhance the raw data from your MLS by using formulas and graphs to illustrate the market to your sellers.
TIP
Practice the math before your listing presentation until you are confident with the numbers, but for a powerful presentation, take copies of the MLS data and work out the figures together with your sellers.
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15. Study Your Market Use Formulas and Graphs The Activity Index
The number of properties going under contract compared to the number of active properties on the market.
Actives + Pendings
Pendings
= Activity Index
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16. Study Your Market Use Formulas and Graphs The Absorption Rate
The absorption rate will tell you how many months of inventory you have on the market. It demonstrates how long it would take to sell all the homes on the market if no other homes were to come on the market.
Number of active homes on the market
Number of homes sold in the last 30 days
= The Absorption Rate
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17. Study Your Market Use Formulas and Graphs Graphs
Many people respond well to visual information. Show your sellers the MLS statistics by using vivid, clear, and colorful graphs.
TIP
Use Microsoft Excel when plotting your graphs, or get help from your Market Center. There are also online services and software programs that you can use to create graphs.
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18. Study Your Market
Use Formulas and Graphs
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19. Career Growth Initiative
Listing Management
Listings (Monthly)
Pipeline (Buyers/Sellers)
VALUE
GCI
Agent Trend
Agent LORE
Local Expert
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20. Career Growth Initiative
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21. APPROACH SELLERS
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22. Approach Sellers Find the Motivated
You can only afford to work with the very motivated.
Prequalify your sellers before you make the listing appointment.
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23. Approach Sellers Update Your Listing Presentation Tell the Truth
You are not doing your sellers any favors if you are tempted to soften the blow in order to get the listing.
Care enough about them to be strong up front and get the right price.
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24. Approach Sellers Update Your Listing Presentation Leverage the Media
Clip out articles from the newspaper that support your position and send them to your sellers.
Back up the news stories with your own hard data.
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25. Approach Sellers Update Your Listing Presentation
Listen for Responsiveness
Return to their motivation if you sense they are not receptive, and determine whether or not you want the listing.
Some sellers may not be able to face reality and won’t be able to list their home at the price needed to sell it.
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26. Approach Sellers Update Your Listing Presentation
Learn New Scripts and Dialogues
To present MLS data effectively, you will need to speak with confidence to educate your sellers and vividly illustrate the new reality of their market.
Take the time to learn new scripts so you are confident and polished during your presentation.
Choose a partner from your team with whom you can practice.
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27. Approach Sellers Update Your Listing Presentation
Communicate Effectively
Practice scripts and dialogues.
Focus more on your sellers’ need to express themselves.
Keep them talking and LISTEN to what they tell you.
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28. Approach Sellers Update Your Listing Presentation
Be Prepared to Answer Objections
Address objections before they come up. Send out a thorough CMA in your prelisting package.
During the listing presentation, bring up objections yourself and then sweep them away.
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29. GET THE RIGHT PRICE
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30. Original Price is Critical
Get the Right Price!
Don’t Miss the Window of Opportunity
Original Price is Critical
If a buyer believes a house is poorly priced, they will write it off from the start.
Even if the price is subsequently reduced several times or home improvements are made, the best chance for selling is lost forever.
For homes that have a price reduction, the time to sell increases by two to three times.
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31. Get the Right Price! Allow Your Sellers to Self-Discover
Ask simple questions:
“Looking at all the comparables here in the MLS for your neighborhood, how much would you be willing to pay for your house if you were a buyer today?”
“Given what I’ve shown you about the market, what do you think your house will sell for?”
- “Look, what do you think we need to do? Here are the numbers.”
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32. Get the Right Price! Tell the Tale of Two Markets: Sellers’ Market
Great
Poor
Condition vs. Comps
Above
Below
Price vs. Comps
In the
Market
Out of the
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33. Get the Right Price! Tell the Tale of Two Markets: Buyers’ Market
Great
Poor
Condition vs. Comps
Above
Below
Price vs. Comps
In the
Market
Out of the
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34. Get the Right Price! Tell the Tale of Two Markets: No-Man’s Land
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35. Get the Right Price! Tell the Tale of Two Markets
Fill in the chart on pg. 30 of your guide
Think of current listings in your market that you consider “IN the Market,” “OUT of the Market,” and in “NO-MAN’S-LAND.”
Now think of what price adjustments would have to be made to the listings that are in “NO-MAN’S-LAND,” and “ON the Market” in order to get them “IN the Market.”
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36. Get the Right Price! The Law of Supply and Demand
When pricing their home, sellers need to obey the law!
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37. Get the Right Price! The Law of Supply and Demand
How can you use MLS Statistics to explain the effects of supply and demand in your market?
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38. Get the Right Price! Don’t Chase the Market
Whether the market is going up or down, you want to price your listings ahead of the market—ahead of it on the way up and ahead of it on the way down.
“You’re in a race against time. The best price you’ll get is the one you get now. If you wait, it will be lower.”
Jackie Ellis
Boynton Beach, Florida
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39. MANAGE YOUR LISTINGS IN A BUYERS’ MARKET
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40. Manage Your Listings in a Buyers’ Market
Offer Phenomenal Customer Service
Increase frequency of communication.
Increase frequency and unique timing of open houses.
Send your sellers regular market information updates.
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41. Manage Your Listings in a Buyers’ Market
Get Price Reductions
Overpriced Listings
There are very few overpriced listings that are too overpriced to take. If you take overpriced listings, three elements will help you get the right price.
Time
Your strengthening relationship
Market statistics
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42. Manage Your Listings in a Buyers’ Market
Get Price Reductions
Schedule your reductions
Get into the next bracket
Keep carrying costs low
Mind your language
Know when to call it quits
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43. Manage Your Listings in a Buyers’ Market
Auction Your Listings
Create desire for your listings by marketing well-priced and staged properties as “Coming Soon.”
Establish correct market price
Have property inspected and staged
Put up “Coming Soon” yard signs with the date of the MLS opening
Wait a week to ten days without showing the house
Announce the opening
Sell the house!
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44. Manage Your Listings in a Buyers’ Market
Offer Seller Concessions
Learn about the seller concessions and real estate financing concepts that create a competitive edge.
Work closely with a trusted loan officer who is knowledgeable about the details.
RESOURCE
For more details on seller concessions, see SHIFT Tactic 10: Financing Solutions, from Keller Williams University.
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45. The Bottom Line
There may be no single factor more important to getting a home sold than its price.
Your local expertise and market knowledge are the key to getting your sellers to price their homes to sell.
Let the numbers do the heavy lifting. Arm yourself with the facts and figures and use formulas and graphs to explain the current market to your sellers.
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46. My Action Plan
Don’t put away this guide without developing a plan to put what you have learned into action!
Refer to the Action Plan on pages of the guide to assess your strengths and areas for improvement.
Write down steps you will take to improve your skills—complete it, share it, and commit to it!
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47. Take the other courses in the SHIFT Tactics series!
Gaining Mind over Market
Upshifting Your Lead Generation
Seller Staging Strategies
Lead Capture and Conversion
Internet Lead Capture and Conversion
Creating Urgency to Buy
Bulletproofing Transactions
Expense Management
Effective People Leverage 
Short Sales, Foreclosures, and REOs
Financing Solutions

48. From Aha’s to Achievement
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49. Select drop-down to scroll for title of this course
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