Today I want to talk about the dreaded price reduction. I don’t know anyone who loves price reductions. It can be really hard. We all love our vendors… well most of time and sometimes it can really hurt to have to go and see them and say hey look I made a mistake or we made a mistake, or we need to reduce the price.

But really when we break it down you know you are doing the right thing because let’s think about what happens if you don’t reduce. I believe each listing is worth 10 listings in the future, so if you don’t reduce, you pass this up. 

So let’s talk about 3 tools for quick and easy price reductions…

1. Build rapport for easy price reductions
   There are a list of specific rapport building strategies that must be applied during each phase of the sale. During prospecting, during the listing process, and during correspondence about buyer activity. These strategies allow you to make the price reduction a simple no brainer for the vendor – often when I used them, when I would call to set up the appointment they would say: “Michael, I think the house might be in the wrong price range.” Imagine that!
2. The listing presentation is the first place to start
   You MUST set up the price reduction at the listing appointment. This is non-negotiable. There is one dot point that I use as part of my listing presentation and every time I forgot to go through it I had trouble getting the price reduction. When I would explain it, people would be ready for me when I called. They even expected it.
3. The price reduction appointment
   The price reduction appointment needs to be set up so that the vendor is telling you that the price needs to come down. There is a set of specific questions you can ask to make this happen.

I will share all of this with you as part of the price reduction section on day three of Success in Real Estate, which is coming up in July, plus the following points:

• The sale is in the price reduction – easy price reductions
• Over 15 scripts including one for overcoming sales-killing comments and handling the situation when the vendor is threatening to change agents
• How to change your mindset towards price reductions so that you approach them with positivity and enthusiasm

One of the guys who came to Success in Real Estate in January sent me an email saying:
“Thanks Michael! I am sitting on great results after obtaining 4 price reductions two days after attending the conference.” –Les Preston – Country Estates Realty.

 Another one of my coaching clients had 4o minutes with me the other day and I taught her just some of the tools I share at Success in Real Estate

from this she got 6 price reductions in one day. 

Imagine what four or six SPR’s could do for you?

I have made it really easy for you to register – just click here and put your name down. If you register now you receive over $10,000 in Bonuses – this will not last forever so get your registration in. This event will likely sell out so click through and check out the details today.