How to Prepare for the Conversation about Reductions w/Jeff Quintin

No agent wants to have a conversation about reductions because they’re conflictual by nature, but it’s a good idea to be prepared for them. How can we protect ourselves from receiving all the blame when a reduction is required? What information should we be giving sellers upfront, and how can we maintain our credibility with the client? On this episode, team owner and agent at The Quintin Group at Keller Williams, Jeff Quintin, shares how to have the conversation about reductions. 

 

Price reduction conversations need to begin at the listing presentation. -Brendon Payne

 

Takeaways + Tactics 

• Don’t decide the price: As agents, we should be guiding the seller towards the most appropriate price, but it’s not our job to tell them an exact number. Give suggestions, but don’t take ownership of the price itself.
  
  
• Remind the seller that the market determines price. This isn’t about shifting the blame, it’s merely letting the seller know that the price depends on more than us. 
  
• Earn the right to reduce: If we want to reduce a price, we have to ensure we’ve been hands-on throughout the process. We lose all credibility if we suggest a reduction and haven’t been keeping in touch with the seller.

 

At the start of this episode, we spoke about why agents are so reluctant to have conversations about reductions. After acknowledging that these conversations are typically conflictual, we offered advice on how to approach and prepare for the topic with sellers in advance.

On this episode, we discussed: 

• Why we need to know what is - and isn’t - our fault
• The importance of mentioning potential reductions upfront with sellers
• When to advise a seller against changing the price

 

Guest Bio- 

Jeff Quintin is the Team Owner and Agent at The Quintin Team Keller Williams. Jeff has sold over 4000 properties in his career, and with a track record of selling over 175 properties a year, he’s known for being one of the most successful real estate agents in the United States. Jeff is also the host of “5 Best Time Hacks

That Changed Jeff Quintin’s Business Forever” Masterclass. 

 

To find out more about Jeff, head to:

https://www.linkedin.com/in/jeffquintinsuperteam

https://www.thequintingroup.com/agent/masterclass/

You can also find him on all social media at @jeffquintin

Email Jeff at Jeff@TheQuintinGroup.com