Priced to Sit: Why You're Losing Listings Before You Walk In

GROW WITH LIBERTAS & EXP REALTY

If you don't know why the seller wants that price, you shouldn't go.

If you don't know how long homes take to sell in their neighborhood, you shouldn't go.

If you don't know about the builder down the road offering more house for the same payment, you shouldn't go.

Most listings that sit were in trouble before the agent rang the doorbell. Here are the eleven things to know before any listing appointment.

Getting the price wrong can cost you the listing, and it costs your seller time and money. Active listings don't gain value by sitting on the market. Your job is to price it to sell, not to sit.

Find out what the seller wants, needs and thinks the home is worth before you walk in. If their number is above the comps, know by how much and why.

Then listen. They may have different comps, an old appraisal or another reason. Once you know why, your strategy may change.

Sellers usually overprice for one of two reasons: they don't know better, or they won't listen. The seller who doesn't know has never had to price a house. Bring facts and numbers and land on a price together. The seller who won't listen ignores the comps and justifies the price with things that have nothing to do with value. That's when you consider walking away.

One caution: when there's little or no competition, a price above your highest comp might still work. Don't lose the listing by being rigid. Have a plan.

Look at the subdivision, not just the town or zip code. Neighborhoods can behave very differently from the city as a whole. This sets expectations and helps sellers who are also buying decide what to do first and whether they'll need a leaseback.

After years of a hot market, most sellers expect to sell in a weekend. Walk them through the plan if it sells right away, in two weeks or in two months.

Are homes in this neighborhood selling for 95%, 100% or 105% of list? That tells you whether to expect a bidding war or a negotiation.

How many homes is this one up against? Which nearby neighborhoods pull the same buyers? What else will buyers see that weekend?

Secret: Take appraisal classes for your continuing education. You'll learn more than one way to reach the right price.

A lot of new construction never shows up in the MLS. Search online for new builds in the zip code, check NewHomeSource.com and visit the models. Builders with in-house financing can sell a pricier home for the same monthly payment as your resale.

Secret: A $350,000 resale could be competing with a $500,000 new build once buydowns and incentives are factored in.

When do they need to close and move? Timing often matters more than price. If they need to move fast and average days on market is longer than their window, the price has to come down to fit.

When you know why they're moving, you can keep the appointment about them and their problem. You're there to solve it.

Could they keep the house? Are they testing the market or serious about selling?

Ask every time, and track where your business comes from so you can do more of what works.

Use it every time, even if it takes two phone calls. It keeps you from missing anything above.

Send it every time, even to your mom. Make it your own. If it looks like everyone else's in the office, the seller will pick the cheapest agent or the one who quotes the highest price.

Before your next listing appointment, run through all eleven and find the ones you've been skipping.

How should a real estate agent prepare for a listing appointment?
Know the seller's expected price and how they got it, the neighborhood's days on market and list-to-sale ratio, the competition including new construction, and the seller's timeline and motivation. Use a pre-qualification script and send a pre-listing package in advance.

Why do overpriced homes sell for less?
New listings get the most attention in their first weeks. When a home is overpriced, buyers skip it, it goes stale, and a later price cut often signals the seller will accept even less.

What do you say when a seller's price is too high?
Ask, "How did you arrive at that price?" and listen. Then walk through the data together and agree on a plan to adjust the price if the home doesn't get a viable offer within a set time or number of showings.

Does new construction affect resale home prices?
Yes. Builder incentives and rate buydowns can make a more expensive new home cost about the same per month as a resale, so agents should check what local builders are offering.

Listen to the full conversation on Real Estate Coaching Radio: https://podcasts.apple.com/us/podcast/listing-appointments-11-things-every-real-estate-agent/id849772346?i=1000793265199

Tim and Julie Harris are America's most recognized real estate coaches, bestselling authors, and the voices behind Real Estate Coaching Radio, the nation's #1 daily podcast for real estate professionals. With decades of hands-on experience and a track record of helping thousands of agents achieve breakthrough success, Tim and Julie deliver real-world strategies that actually work. Whether you're looking to scale your business, sharpen your skills, or simply stay ahead of the market, their insights are your competitive edge.

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