Stop your vendor living in the past.

When the market changes and sellers continue to anticipate the market will always rise to their expectations, we are often left with the gap between market reality and the sellers’ expectations. Just last week I was involved in an auction where the vendor had initially decided to believe that the market feedback from his sales consultant did not apply to his property. Despite 3 weeks of intense marketing and great feedback from qualified and prepared buyers (who would bid on the day) this seller was adamant the buyers were wrong and his property would fetch more than indicated.

To help move this seller we asked:

"If on the day there is no more, what are you going to do?"

We also said:

"Your salesperson’s job is nearly finished, and as auctioneer I will perform for a few minutes and ask the market what it will pay. Then you get to decide. So now we pass the responsibility of whether it sells back to you!"

When the seller got stuck between the market and his original expectations we had to tell him;

"The only people in the market looking for that figure are you, us and your neighbours."

Perhaps you have a stuck listing and here maybe is a hint of an approach you might use to get movement on that price the seller is hanging on to.

Quote for the week:
"The secret of happiness is to make others believe they are the cause of it."
Al Batt

http://www.salescoach.co.nz.