What do you do when your listing isn’t getting any attention? There’s only one reason: It’s not priced correctly. The homeowners want answers. But the market has spoken.
What now? How do you get those homeowners to see the writing on the wall? I’ll tell you in this episode of the #TomFerryShow.
I’ll even give you the exact script to get that much-needed price reduction.
I’ll also show you how to avoid this situation in the future by getting the home priced correctly from the start.
Learn more: http://bit.ly/2Kzc2fK
The #TomFerryShow is here to help real estate professionals stay ahead of the curve to always be innovating, changing, adjusting, staying as relevant as possible with the very best tools, the right-now strategies, and the things that are working today for rock star agents!
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By Stock Chat

where the coffee is hot and so is the chat

28 thoughts on “Real estate pricing strategy and price reduction conversations #tomferryshow”
  1. Avataaar/Circle Created with python_avatars Nicole Rose says:

    I can think of a couple homes sold in 2022 that were listed 150k below market value or what similar homes were going for. Both sold for around $100k over asking still losing $50k overall. This is why this "list below tactic' makes me nervous.

  2. Avataaar/Circle Created with python_avatars Ashley Ortiz says:

    If you have time to answer, how far below market value do you have to price it in order for chum in the water to work? Im from Monterey County so houses are definitely more expensive here than the rest of the US.

  3. Avataaar/Circle Created with python_avatars CODY HOPSCOTCH 35 says:

    How you price condos/penthouse condos when all comps are showing overpriced (and sold after being on market way to long and below listing price) and comps on sale (and you already know OVERPRICED) hence sitting way to long (50+days) based on areas average DOM=18

  4. Avataaar/Circle Created with python_avatars Gabe Estrada says:

    Thoughts on current market shift bec of the housing rates, and how sellers caught in the midst of the shift should respond?
    context: we had a thoughtfully priced condo now raking up DOM since the shift

  5. Avataaar/Circle Created with python_avatars Tony Fiorentino says:

    Great video Tom, I've been doing this a long time, but it's really great to listen to your videos to remind and refresh my memory in these changing times.

  6. Avataaar/Circle Created with python_avatars BlueDunn says:

    What's wrong with you're seatbelt genuis…

  7. Avataaar/Circle Created with python_avatars Brandi Watt says:

    Sending love and appreciation from the Jersey Shore! Thank you Tom

  8. Avataaar/Circle Created with python_avatars Real Estate Angle by Oz Realtor® says:

    Definitely I talk to my seller today Amend is a new word for me but I use it thank you Tom

  9. Avataaar/Circle Created with python_avatars Fatima Kahedi says:

    Thank you Tom, the strategies were really helpful

  10. Avataaar/Circle Created with python_avatars Bernard Ting says:

    Excellent analysis

  11. Avataaar/Circle Created with python_avatars Wendy Sharp Farkas says:

    Thank you! Very practical and will use your strategy. Practice, Practice and Practice!

  12. Avataaar/Circle Created with python_avatars Tammy III says:

    I like very much how you don't seem to beat around the bush, as others I see in YouTube, but you go straight to the point.

  13. Avataaar/Circle Created with python_avatars Anthony Flores says:

    Should I sell 5 or 10% below FMV????

  14. Avataaar/Circle Created with python_avatars Dalia Michail says:

    Tom you’re totally awesome! Shifting from a communications/marketing profession to real estate, what you say just speaks volumes to me!! Thank you

  15. Avataaar/Circle Created with python_avatars denise davis says:

    excellent tips!!

  16. Avataaar/Circle Created with python_avatars Hengameh Nazari says:

    How about after bring the price below market price and we don’t get multiple offers.

  17. Avataaar/Circle Created with python_avatars stuart says:

    ok. I'm a relatively new agent. My background is marketing. So I literally came up with this strategy on my own when I was putting together my business plan. When I ran it by my brokerages' productivity coach she really tore it apart.

    Here were the main takeaways she left me with
    1- Creating a bidding war is great, except what if the bidding war ends up pushing the price well above what it ends up being appraised out? Now you have buyers who weren't initially that high end buyer who got caught up in this "frenzy" and now the deal implodes because the appraisal comes in far lower and their lender won't cover the pumped up sale price.
    2- the deal implodes as mentioned above OR the frenzy just doesn't work and your sellers now have you on the line for a strategy you convinced them was a good idea
    3- at the end of the day, it may work, but its also a little deceptive and dishonest and if the local market starts to catch onto this strategy it might hurt your reputation.

    Now, admittedly my marketing experience was in other industries. I saw an opportunity for my skills in real estate but I never had to deal with things like lenders and appraisals etc… So she really convinced me not to take this route. Now I Come on here and see this video and I'm like… well what the hell? So is this just a bunch of sound-good garbage that could end up landing agents in hot water?

  18. Avataaar/Circle Created with python_avatars Lynn Sustad says:

    Love this video..casual chat full of Golden Nuggets; thank-you Tom!

  19. Avataaar/Circle Created with python_avatars Frank Baldwin says:

    Thanks Tom. Right on point!

  20. Avataaar/Circle Created with python_avatars Clayton Pearse says:

    Excellent advice!

  21. Avataaar/Circle Created with python_avatars Kiara Justice says:

    Your content ROCKS!…I am taking notes and soaking everything you teach…

  22. Avataaar/Circle Created with python_avatars Brian Eliel says:

    " Here is the reality, The agent that only has a one price pricing strategy is not the agent that gets the highest possible net proceeds for their clients in this environment. I on the other hand
    have a three price pricing strategy, empowering you to decide what is the right strategy for you guys in your circumstance, let me explain"

  23. Avataaar/Circle Created with python_avatars Shavon Allen says:

    Awesome advice!! Thank You for this

  24. Avataaar/Circle Created with python_avatars Big Uub Torres says:

    Thank You For This Knowledge, I will be looking deeper into pricing and self-educate for the Internet is for all GODS to use within us is always gloom but Hope will Prosper.

  25. Avataaar/Circle Created with python_avatars evermore8888 says:

    So relevant to the Australian East Coast market right now…..interestingly most agents here consider themselves "seasoned" real estate professionals after 5-10years of a "booming" market but who now actually lack the scripts, dialogues, experience, mental/emotional ability and personal strength to service, manage and ultimately successfully sell a home in these unfolding/changing times…..just so timely and spot on Tom – thank you, you're the best!!!

  26. Avataaar/Circle Created with python_avatars Doug Spiers says:

    Awesome Tom!

  27. Avataaar/Circle Created with python_avatars Happy Life says:

    Love this, I’m getting a lot of requests for my homeowners, to do more open houses, how do we get over that

  28. Avataaar/Circle Created with python_avatars Carmen Scherubel says:

    Awesome!!!! Thanks 🙂

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