You’ve been there.
You’ve smashed the valuation. Nice rapport. The vendor’s nodding alongside. You allow pondering, “That one’s within the bag.”
Then you definately get the decision.
“We actually preferred you… however one other agent stated they’d do it for much less. Sorry.”
It’s one of the crucial irritating elements of being an property agent. You understand you’ll get them a greater outcome. You understand the opposite agent is chopping corners. However until you deal with it proper, the vendor doesn’t see any of that. All they see is a less expensive quote.
So how do you cease getting undercut?
The reply isn’t simply higher persuasion. It’s higher positioning.
Many brokers make the identical mistake. They speak about what they do. We’ll get skilled photographs. We’ll record on all the foremost portals. We’ll do viewings, negotiate gives, and preserve you up to date. And guess what? So will the subsequent agent.
If you deal with options, you make it simple for a vendor to imagine all brokers are the identical. And after they assume you’re the identical, the one factor left to check is the price.
What you might want to do as a substitute is make the vendor really feel the distinction between you and the remaining. Not simply what you do, however what that truly means for them.
Which means giving real-world examples. A current sale the place your recommendation helped add 1000’s to the ultimate worth. A property that had caught with one other agent, however you bought it transferring in two weeks. A vendor who left you a five-star evaluation as a result of your course of made a hectic transfer really feel easy.
You’re not simply providing a service. You’re guiding a serious life choice. And that’s value extra than simply throwing it on Rightmove and hoping for one of the best.
You additionally want to point out the danger of going low-cost when promoting what’s probably the vendor’s most financially worthwhile possession. Not in a pushy approach, however in a relaxed, assured approach that frames the dialog.
For instance: “The common dwelling round right here sells for £400,000. If the advertising or negotiation isn’t fairly proper and you find yourself reaching 2% much less, that’s £8,000 gone. Nonetheless assume saving £1,000 on the price was a great deal for you?”
If you phrase it like that, abruptly the upper price doesn’t seem like a price. It seems to be like an funding in a constructive outcome.
And if the vendor nonetheless isn’t satisfied, don’t panic. Ask them what they’re basing their choice on. If it’s purely the price, they’re evaluating apples to apples. It’s essential to change the fruit. Present them the depth of service, not simply the headline price.
The perfect brokers don’t draw back from the price dialog. They lean into it. They’re ready, they’ve received proof, they usually present sellers what makes their strategy more practical, not simply dearer.
As a result of while you’ve carried out that properly, your price isn’t one thing to apologise for, it turns into one thing to be happy with.
Chris Webb is the founding father of The Property Agent Consultancy
