Lead with facts, not fear. Use local sales data to show sellers why a price drop can help avoid bigger losses.
Selling a home can be a rollercoaster of questions. You’ll likely get questions from sellers like, ‘Am I asking too much?’ ‘Will I regret pricing lower?’ With the market shifting and buyers becoming more selective, guesswork isn’t an option. What you need is a strategy rooted in real numbers and a plan that gets you from “for sale” to “sold” without the stress.
But how do you negotiate a price reduction without losing the seller’s trust or the listing itself? If you’re on the fence about talking price drops with your client, read this.
Not long ago, I worked with the owners of a stunning multi-million-dollar home in Utah that had been sitting on the market with zero activity. I told them, “Your property is incredible, but the price is too high, the market isn’t there.” After reviewing the numbers, they agreed to my recommended price. Within 30 days, we had multiple showings, an offer, and a signed contract.
“The right price opens the door to serious buyers.”
That’s the power of realistic pricing in today’s market. Sometimes, the right results come from having the tough conversations that lead to the right price and the right buyer. Here are a few tips you can follow:
1. Acknowledge and respect their position. Sellers often see a price drop as a sign their home isn’t valued. Start by affirming the strengths of their property and the effort they’ve put in. Make it clear that your recommendation is about aligning with the market, not diminishing their home’s worth.
2. Use data to tell the story. Bring visuals, whether printed comps for older clients or screen shares for remote discussions that compare their home to others in the market. Show side-by-side examples, pointing out differences in features, acreage, and pricing. Ask questions like, “If you could buy this upgraded home for less, which would you choose?” Let the market data, not your opinion, drive the conversation.
3. Track the market and show trends. Use recent statistics for their zip code to highlight changes in days on market, interest rates, and inventory. Explain how shifts in the last 30, 60, or 90 days impact buyer behavior. This turns the discussion into a market update rather than a personal critique.
4. Present a strategic plan. Don’t just recommend a price change; pair it with an action plan. For example, evaluate results after 14 days, and then adjust if activity remains low. Tie the price drop to marketing opportunities like open houses or fresh online promotion to maximize visibility.
5. Move quickly to preserve value. Explain that time on market can hurt perceived value. Acting fast, even with minor adjustments, can re-engage buyers who may have previously overlooked the property.
When sellers won’t budge on price, the winning approach is empathy plus evidence. Acknowledge their attachment, present undeniable data, and pair your recommendation with a clear, proactive plan. In the end, you’re not just lowering a price, you’re positioning the home for success in today’s competitive market.
If you have any questions about pricing your home strategically or want to know how current market trends could affect your sale, call me at (801) 285-0521 or email Justin@JustinUdy.com. I’d be happy to walk you through the numbers and share a plan that works.
