Getting a buyer 
from their hope price 
to their highest price 
in real estate sales

There are many reasons that getting the highest price in real estate should be one of the main priorities for real estate agents.

One of the biggest mistakes I see is when agents only consider the small amount of money they get in commission for the extra large amount their vendor receives. An extra $20,000 for a vendor can mean that one of their children can go to private school, or play high level sport. This can be huge.

Unfortunately, I was speaking with an agent at an open inspection who proudly declared: “I won’t ask you to increase your offer because by the time I take the tax and franchise fees out, it won’t be worth a pie and a can of coke…”

This is entirely the wrong attitude.

Let’s also consider the consequences. If a buyer got a property for less than their maximum price, do you think they will go back to the agent they bought through when they want to sell?

Of course not.

What do you think happens when the seller finds out they undersold? They will not recommend their family, friends or work colleagues to their agent and the word of mouth is negative. These situations occur as a consequence of short term thinking.

The salespeople who focus on getting the highest price for the vendor have a very high percentage of their offers accepted and they tend to enjoy a long career where the referrals flow in.

How is this possible?
By always getting every last cent from the buyers and showing the sellers that you have worked hard to do this.

Market considerations for getting the highest price in real estate

Your buyer response will differ depending on your market:

If you are in a good market you can flinch with confidence and be sure another buyer will buy the property.
If it’s a normal market you don’t flinch.
If it’s a poor market you definitely don’t flinch.

Handling a proposal to get the highest price in real estate

In order to extract the proposal you have asked the question: “What are you prepared to pay?”

When they have responded with their figure, you have said: “So if the owner can afford to accept this price will you buy this house?” If they answer yes, then this is what you do next:

You say, “I don’t know whether the owner can afford to accept this price but let’s put it to them and see what happens.”

You then write up the proposal and leave the price to last. The more time they invest the more likely they are to buy.

Then when you get to filling the price in you say:

“I have been thinking about you and this house.
It really seems to suit you with the large living areas, the big bedrooms, ensuites and the large allotment.
So my concern for you is that if you put this low figure forward, the owners are not going to think you are serious and they will probably reject your offer.
But if you were to offer a good fair price, I may be able to get this property secured for you today. Which means that nobody else can buy your beautiful home.
So come on, why don’t you pay the asking price?”

Whatever figure they now give you (always above the price they gave you from your sharp angle close) you nibble it immediately.

As soon as they give you a figure you suggest a higher figure. You will again get more.

Then before you part with the buyers you say, “I don’t know what the vendor can or can’t afford to accept. If they can’t afford to accept this figure I will be back to you with what they can afford to accept.”

Then you watch their body language.

Next week I will show you how to present that proposal to the owners and put the sale together.

A salesperson who was struggling with the change in the market in Sydney, reached out and asked for help.

After our chat, which revolved around dealing with buyers, he made 6 sales in 7 days by using exactly this.

To find out more about how to create more consistency in your results and add an extra $100,000 to your income in the next 12 months click here for a complimentary one hour training session.