Pricing Strategy: MLS Reduction Examples


Adjust the price with MLS data.How many times in the past year have you met with clients who just couldn’t seem to accept realistic pricing for putting their home competitively on the market? How have you handled it?

Next time you face this situation, don’t forget to let the numbers do the talking. Absent yourself and your own experience from the equation and come prepared with MLS listing data which shows examples of overpriced listings.

If you’re able to show clients how many price reductions a property experienced (and how much longer it took to sell), you will have a compelling and unbiased case for your pricing advice.

Consider pairing mispriced MLS examples with the following comment:

“Do I think you deserve more for your home? I absolutely do. But it would be professionally reckless of me not to honestly represent the path ahead if we price your home outside of what’s competitive. Price reductions and an extended number of days on the market send a negative message to buyers. I also want to make sure this is as quick and pleasant a listing experience as possible for you.”

The important thing is to never place yourself in a situation where it’s “what you want against what they want.” Remove yourself and present the best evidence you have to support the pricing case.

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