There are instances when your listings appears to languish on the market, necessitating a nuanced approach to address challenges like unrealistic pricing or a slow market. This is where “future pacing” comes into play — a technique that involves coaching sellers through collaborative problem-solving conversations.
No matter how well we communicate with our sellers, some listings resist finding their ideal match. Whether it’s a divergence in pricing expectations or the impact of a sluggish market, tackling these challenges requires finesse and strategic communication.
The Technique – “Future Pacing”
Imagine you have a listing that has been on the market for an extended period, and you believe a price adjustment is necessary. Instead of bluntly stating, “You need to cut your price,” consider asking questions that guide the seller toward recognizing the challenges themselves. For example, “How long has the current slowdown lasted?” or “How long has the current market situation lasted?” This approach fosters a sense of involvement and openness to alternative solutions.
The Power of Questions
The key lies in posing questions that prompt sellers to reflect on their perception of the situation. Once they share their viewpoint, provide information that either aligns with their beliefs or offers a more accurate understanding of the market dynamics. The emphasis is on asking questions rather than issuing directives, creating a space for a more productive and collaborative exchange.
Coaching Sellers to Solutions
Encouraging sellers to contemplate the current market status and its potential trajectory is a crucial step toward revitalizing stagnant listings. Actively engaging sellers in the process makes them more receptive to solutions, allowing you to guide them toward a successful outcome. Remember, successful communication is paramount in navigating any market conditions.
By employing the power of questions and coaching sellers through the process, you’ll not only strengthen your client relationships but also increase your chances of selling even the most stubborn properties in any market. The next time you face a challenging listing, remember the potential of strategic communication.
If you have more questions about breaking into the luxury market, don’t hesitate to reach out or consider joining Luxury Real Estate Unplugged!