Have you ever had this situation? When the vendor says “We think we might just give it a break for a while…” when they are coming to the end of the listing agreement. What do you think this means? What do you think is the best way to handle it?

See if we get this wrong we have most likely spent months or years building the relationship with this vendor, then we have failed them by not having the courage to reduce and get them happily moved.

THEN worst of all we are basically giving them the opportunity to reduce the price for the next agent, who will walk in, take a look around, and say: “who put the price on this?” list it in the right price range and sell it quickly.

They take home YOUR professional fee and get all the referral business, which can be up to 10 properties over 10 years.

Crazy isn’t it? I cover this in detail in my listings generator webinar which you can register for below.

But, If we handle this correctly, we can use this as an opportunity to get the price reduction, and sell it quickly. We then get the vendor happily moved, become their hero and get the referral business, equivalent of around $100k over 10 years? So this is pretty important isn’t it?

OK, so I’m going to share with you three quick tools for handling this situation:

1. Challenge it: Now that you can see exactly how much is at stake, have the 10 seconds of insane courage to call them and tell them that you know what they are going to do and challenge it.

2. Your work: Tell them how much work you have put in. Detail everything you have done throughout their time listed with you.

3. Fairness: Explain that if they list with another agent, it will probably be at a reduced price, like the price you are suggesting. Suggest that you try at that price as you have put all the work in. Ask if they think that is fair?

Remember: What is their main motive for wanting to move? Mention this often during the talk. Stay calm. Get the price reduction.

Thanks for watching today – if you would like to join me for my “listing generator system” webinar – register here. If you liked this video please hit the like button, comment and share with your friends.