It is difficult to secure a listing these days, and some agents will do just about anything to get a seller to sign a listing agreement, whether it is true or not.
When I finished a listing presentation a few years ago, I asked, “Is there something that another agent has told you or shown you I don’t have?”
The seller thought for a moment and said, “Yes, another agent (he gave her name) said she was number 1 in the county for sales. It’s hard to beat, don’t you think? ”
In the shocked silence that followed, I tried to find something to say without saying directly that I knew her numbers and also knew that she was lying openly. He called back a few days later to review the seller’s decision and let me know that he would be working with “The No. 1 Agent”. He said, “Thank you for visiting.”
Hundreds of slacked off Listing of appointments Over the years, I’ve come across almost every lie a competing listing agent could tell. While it is easy enough for me to spot the untruths, it can be difficult to explain them to a salesperson. I’ve never been one to beat up another agent, and I’ve struggled multiple times to stay cool while other agents push the boundaries of reality to get a listing.
Here are the top five lies agents list and some strategies for effectively responding to their lies.
1. I can give you a higher price than anyone for your listing
This tactic is known as “buying the listing” and has been around since pictures of animals appeared on cave walls. Trained agents can prevent this before it can happen by speaking to it right outside the gate.
“We know that some agents may be tempted to price you artificially so that you can sign with them. This is known as “buying a listing” and we believe this is a misleading practice. Integrity is one of our core values, and we will do nothing to undermine our relationship by inflating a list price to raise your hopes or get you to sign with us.
“We carried out a comprehensive market analysis. We believe that should you choose the market today, a fair market price for your home is between _____ and _____ USD. Knowing that most sellers are not ready to hit the market right away, we will return the day before your launch and provide an updated market analysis to ensure you are bringing your home to market at the best possible price at that time .
“The truth is, buyers are the ones who actually set prices, not sellers or their agents. When you are ready to go to market, we will work together to define a strategy to establish a price that gives you the best opportunity to get the highest price and terms. Is that ok for you?”
2. I have buyers for your home
I’ve lost the number of times I’ve contradicted this argument. It sounds so good on the surface, but underneath it means a disregard for the interests of the sellers. When we hear this argument, we answer as follows:
“I’m so glad you mentioned that. One of our goals is to offer you the highest possible price and the best possible conditions AND to protect your interests. First of all, you need to know that this is a common tactic agents use to get you to sign a list and that it is NOT in your best interests.
“While they may or may not actually have a buyer (chances are they have a buyer for your exact home), usually the best deals you can get by going live and everyone out there competing for your home to let. not just a buyer controlled by the listing agent.
“If your listing agent brings you a buyer, it is a dual agency that is actually banned in some states in the country. Your best representation is when your agent is representing you and another agent is representing the buyer. “
3. I am the top agent in this area
This immediately raises several questions:
- Is this particular agent # 1 in your office?
- Your team?
- No. 1 on the water cooler?
- Is it your entire office that is number 1?
- No. 1 in what? Homes sold on the block last year, or the entire county?
We go into our list presentations with documentation detailing our actual numbers and their relationship with other people and teams. Dedicated sellers can also track our numbers on sites like Zillow and we will provide customer testimonials, reviews and more.
Ironically, some sellers are not interested in working with the # 1 agent in the area, assuming they are too busy to handle their transaction in person.
Instead of entering a spitting contest, show that your marketing is the best there is. After all, being number 1 doesn’t sell houses – fantastic marketing does.
4. We have access to a special pool of buyers via our national networks
This sounds plausible as some agents have contracts with national moving companies. Even if there are buyers on the network, you need to understand buyer behavior to combat it. The script we are using is as follows:
“Some agents will tell you that they have a national moving network that gives them access to a larger pool of buyers. While this sounds logical on the surface, you need to remember that even if buyers have a signed contract with a relo company, they still act like normal buyers – they are constantly on their phones checking out homes in the area that they are going to move into.
“In other words, you will still see every listing, regardless of whether an agent has a contract with a relo company or not. While this sounds like a benefit on the surface, ionically it has no actual use at all. Also remember that the listing agent involves the buyer, it is a double agency – which is NOT in your best interests. “
5. If we can’t sell it, we’ll buy it!
The biggest lies always have a grain of truth somewhere. Yes, it is true that if they cannot sell the house, they will buy it. May be. The real question is, will you be ready to sell to them at the price they offer you? If this deal is this great, any listing agent in North America would make this claim.
All you have to do when hearing from a competing listing agent using this program is to ask the sellers if they received the guaranteed price in writing and if they would actually be willing to sell their home for that price . You can also mention that in some cases the guaranteed price may be the starting point, but the broker’s buyer may make deductions based on property conditions.
There are a lot more lies out there, but these are the most common ones I come across on a regular basis. With good scripts and exercises, you can counter these if you hear them.
Also, make sure to always ask if another agent made promises that you didn’t – this is your window into what others have said and is an opportunity to counter lies with the truth.
Carl Medford is the CEO of The Medford team.