With difficult times present, one of the biggest hurdles agents are going to have to overcome is seller expectations. It is your job to help sellers realise that the highest and best offer has been reached and they need to meet the market even though it might be quite a stretch away from their dream price.
However, this is not an easy thing to do. It is a process that should begin as early as the listing presentation. What I mean is that although you are going to encourage their dreams of getting them the highest offer the market is prepared to pay, it is going to come down to a number of variables such as:
- amount of similar stock available in the suburb,
- at what prices these competing properties are being advertised at,
- current buyer activity,
- method of sale the seller chooses,
- media coverage of the market
- and even time of year and season can have a profound effect on the result and days on market.