Use this letter to gently recommend a discussion around a possible price reduction for their listing.
Depending on your market, this letter might come into play anywhere from 30 – 90 days into the listing.
The letter remains positive while supporting the idea of a price reduction with recently sales and fresh comps.
Ultimately, the goal is to encourage your client to have a face-to-face meeting in which you mutually agree on a suitable price reduction. During that meeting, it helps to show clients the carrying costs associated with an extended term on the market.
Don’t try and shoehorn what you think the price reduction should be in this letter.
Concentrate mainly on letting the market data tell your story. Present facts.
In your meeting, focus on the positive aspects of a price reduction: “This will rekindle buyer interest.” “I can approach other agents with an update to get your home in front of them again.” “We can avoid carrying costs.”
Included in the downloadable .zip file is:
- A PDF file with instructions on how to use the letter (and the full copy of the letter)
- Original Word .doc file
- Original plain text .txt file