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Stop the Panic Price Drops—Use This Listing Pivot Plan Instead · The Real Estate Agent Playbook

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  listings are sitting longer
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  40 days on average but some are 60
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  some are 50 and we have to understand that
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  sellers may be panicking
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  but I think agents might be panicking a little bit more
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  and we need to take a deep breath
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  and figure out exactly what we can do
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  not only to get these listings moved
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  but absolutely leverage them to level up your business
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  and you have that opportunity
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  and we're gonna dive in next
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  what's up guys
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  I'm Jeremy Kane with the Real Estate Agent Playbook
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  helping agents like you find solutions in our market
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  and that's exactly what this one is about
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  I see a lot of agents dropping prices quickly
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  and not having enough tools in their tool belt
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  and it starts with communication
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  it starts up front but I help agents like you
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  solve the problem based on your market
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  every single day
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  and I would love to have a conversation with you
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  if you are feeling overwhelmed
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  stressed and just need someone to talk to
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  let's Game Plan I love talking to agents
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  about getting buyers off the fence
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  getting sellers you know back into our corner
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  that's what I do so if you like that
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  please reach out below all the contact information
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  but also like this video subscribe to my channel
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  because I provide strategies all the time
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  to help you level up your game as a real estate agent
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  and guess what I did it all myself
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  I'm still doing it myself 100% organically
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  and I think you can too okay
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  so here we are 2025
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  and we are in a position that we haven't been in
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  in 10 to 15 years maybe 15
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  you know we'll talk about that later
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  but as we grow we need to understand
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  that it's our communication and our expectations
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  upfront right
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  we need to normalize
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  the idea that listings may sit for a month or two
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  or maybe three but hopefully not
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  but we have to do this by not front loading everything
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  right we're not we're not at the stage where it's like
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  go to great Wolf Lodge with the kids
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  I'll pay you know
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  come back on Sunday and we'll have multiple offers
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  sometimes it happens depending on the price point
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  depending on the neighborhood
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  depending on the house however
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  as agents the norm is becoming much different right
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  and there's this you know
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  mid listing slump where you're coming out of the market
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  maybe the first two weekends
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  you're having some showings getting some feedback
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  and then it starts to wear off
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  the new starts to wear off why
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  because all of our marketing was front loaded
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  all of our MLS was front loaded
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  all of our you know
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  flyers and open houses
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  and everything was on that first weekend
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  and then it's like okay
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  well you know
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  we got it out there
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  let's just wait for the MLS to sell it
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  and even in the hot times
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  if you were way overpriced or something like that
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  listings did have this kind of mid listing slump
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  after 10 to 14 days you know
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  it kind of lost some traction
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  you might still catch a flyer which you know
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  in the past market you certainly did um
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  but it's not that market where
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  if we're not selling in that opening weekend
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  we're just not priced right
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  that's not the case and so
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  we need to make sure that we aren't panic
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  price dropping
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  because you're just chasing the market to the bottom
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  and if everybody's just price cutting
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  and that's the only tool we're using
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  we will end up you know
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  really doing poor things to our market right
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  and so we need to understand that
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  depending on the timing and depending on the situation
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  absolutely right
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  and the truth is some listings are overpriced still
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  but we need to find that out through what we're doing
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  so it starts with the expectation
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  talk about that
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  talk about our first two weeks are really important
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  you know but then there might be a lull
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  it doesn't mean that we're you know
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  completely way off off target doesn't mean anything
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  let's just kind of wait and see
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  but it's okay to communicate that up front
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  because you set those expectations and you understand
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  and with the pivot
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  that I'm going to explain to you shortly
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  this will be a much easier conversation
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  so first and foremost what can you fix
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  before you start price dropping
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  or what can you at least analyze right
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  is the photos do they need updated
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  in Colorado right now
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  the listings have been sitting on for a little bit
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  might have snow in the front yard
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  and now the backyards are beautiful and vibrant
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  it's okay to spend another hundred dollars
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  to get your photographer back out there
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  to take some exterior pictures
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  I promise right so look at those look at that
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  does the staging need to be updated
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  is there a couple things that keep coming up
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  up on feedback that need to be changed right
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  can we refresh the listing description
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  can we put stuff out there
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  that makes it a little bit different right
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  the age old trick right change that front listing photo
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  drop the price $100 so it ends up in those emails
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  certainly things we can do
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  but not necessarily something that you know
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  is is required
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  but take a analytical approach and look at it
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  and non bias and just say okay
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  what what would I think as a buyer
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  and if you can't do that which I struggle
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  because it's kind of like all the things
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  have your spouse do it or have
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  you know somebody else look at it right
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  I recently had an open house
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  one of my agents went through and they're like
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  they need to do this this and this
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  I think you know
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  there's there's opportunity here
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  but as it sits we're overpriced
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  but if they do these things
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  we might be able to get that price
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  and it's just feedback right
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  and that was an agent that she was experienced
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  but you know certainly not as experienced as mine
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  but that's you know one degree of separation
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  surely helped and kind of opened my eyes
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  to some of the things that we can do and
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  you know get creative and so on
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  so that's huge um
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  obviously
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  getting out there and doing some updated videos or
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  you know maybe you did a video at first
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  maybe you can add some shorts
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  this is all stuff in my listing plan that I plan out
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  so what I do is I go out to the you know
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  on photo shoot day
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  we're doing the professional photography the drone
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  all the things and I have a videographer there with me
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  right we stay out of the way
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  they get the professional photography done
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  and then we're gonna do a full length video
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  we're gonna do a short length video
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  we're gonna do some shorts and features
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  on the house that I like we're gonna do you know
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  some some neighborhood stuff
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  so that I have that in my tool belt as we
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  you know
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  go to the get closer to the average days on market
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  we can slowly drip those out
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  so it's reminding the audience
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  or maybe someone was on vacation
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  now they see it now they have to have it right
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  that's exactly what we do
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  so if you have a plan in your market savvy
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  you can build a 15 to 30 day
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  you know refresh checklist or you can you know
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  have a delayed marketing plan
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  which I have um
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  reach out to me and I can send that to you for sure um
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  I'm actually releasing a GPT that you
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  as a listing agent can put the address
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  it'll analyze the listing for you it'll give you ideas
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  it'll give you video scripts
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  it's gonna be super cool I just have to uh
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  make sure it's dialed in
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  but if you comment listing GPT below
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  I will certainly send that to you because the truth is
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  this video isn't coming out for a week or two
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  and it'll be done by then so uh
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  make sure that you do that
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  if you want to play around with this
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  and have an assistant in your pocket as a
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  in the form of chat GBT and you can absolutely
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  take your listings to the next level next
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  maybe your home is overpriced
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  maybe your listing is overpriced
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  and that's something that we can start to talk about
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  but let's start driving home the data right
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  if we put a listing video out
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  and it had 400 views the first weekend
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  now it's got 450 or whatever it is right
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  that that gets kind of old and stale
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  we need to get information from everywhere Zillow Yep
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  I said the Z word you know
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  look at the listing on there look at your MLS matrix
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  look at your MLS email blast open rates
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  look at all of these things look at your weekly emails
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  whatever you're doing
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  make sure that you're understanding hey
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  your property was highlighted here
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  that's a that's an impression
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  that's a view and then plant the plant the seeds
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  lay out the story show the numbers
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  and then go to your MLS and understand okay
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  we can do this we can check the average days on market
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  we can do all these things
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  and incorporate those into the conversation
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  where you can say you know
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  typically homes have gone under contract after
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  you know 15 showings
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  and we're averaging seven to eight showings a month
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  those numbers don't usually add up for some reason
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  I'm not sure why
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  but that's a very you know traditional number
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  we've been on the market we've had 15 showings
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  um and we've only been on a month
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  so we're ahead of pace as far as showings
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  but that to me
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  tells me that it might be time to look at the price
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  this is all the impressions
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  this is the average showings and so on
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  and you have that data to kind of dial it in
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  then you can go see what the average price drop is
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  you can see what the you know
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  average price drop was for
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  you know
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  homes that were on the market that went under contract
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  you can have all of this at your fingertips
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  through your MLS and you do um typically
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  so make sure that you're using those tools
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  and learning how to use those tools
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  so that you can take an entire package
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  that's data driven
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  remove that emotion and have those conversations
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  but before you have all of that
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  please don't just rush to the table with the price cut
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  now one caveat is you say
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  hey Mister Seller this is what your home's worth
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  they want to list it a little bit higher
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  you know certainly you're not gonna turn down a listing
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  I don't care what you say
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  you all take overpriced listings right
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  if you have that conversation
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  and you have a price drop plan
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  still bring the statistics to show it
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  but also
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  you know that's that's a little bit different scenario
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  so once it is a time to adjust
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  the data should show
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  and your seller should be much more on board
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  now comes the conversation like
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  we can't lower the price because we can't sell it
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  for that totally different
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  you know totally different conversation
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  and I'm not saying you you know
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  force your clients to drop the price
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  with the statistics and things like that
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  you have to have that relationship
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  you have to have that empathy
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  but one of the things I talked
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  I just talked to a client today right
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  he's like my dream is to keep that property
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  and build an apartment one day on it
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  you know and have turn the single family into you know
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  three to six units
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  right on the edge of Cal Carol States campus okay
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  let's do that right
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  us as agents in a professional manner
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  have to look at the opportunity cost
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  that people are doing
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  by putting their house in the market
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  if he has the skills to do that
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  and he has a dream to do that
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  and he has a desire to do that
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  that's an amazing investment right
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  and I said
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  if that's the goal and you have the energy to do it
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  and you wanna do it and you can hold the property
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  you know financially for that long yes
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  do it right or hey
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  we're kind of up against the gun pretty much after fees
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  you're gonna be even Steven
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  cause you bought the property
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  you know two years ago you have to as an agent be like
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  have you ever thought about renting it right
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  it's okay to lose that listing because I promise you
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  if you come from that empathetic
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  strategic place where you're looking at it
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  you're looking at the options
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  and you're presenting options that do not benefit you
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  as the agent
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  you can absolutely win that client over for referrals
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  for future transactions and so
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  I want you guys all to hear that
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  there is a time and a place to sell
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  how's the market it depends it also applies to sellers
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  right so not to say everybody does that
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  not to say none of you do it
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  but it's something that you need to understand
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  and it's really difficult
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  when you are
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  trying to put food on your family's plates
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  and all the things but sometimes
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  there is better options out there
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  than putting the house on the market
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  so that you get the listing
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  so that you can market it
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  so that you can sell it and get that commission
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  and so um
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  make sure that that's part of it right
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  because I promise you
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  the return on getting that listing
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  or the future business and the future relationships
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  that will come from you taking
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  you know that approach and saying yeah
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  like let's look at renting it right
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  you may be able to list as a rental
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  I don't know uh in your market
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  but let's look at it and come from that angle
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  and you will be shocked right
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  that would almost multiply your listings
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  now
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  don't go talking people out of selling all the things
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  you know
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  because that's that's a whole other thing right
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  it it has to come from them
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  it has to come from their desires and needs
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  but there is some strategy behind just saying okay
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  let's look at all these options
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  we're getting tight here on
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  you know your profit that you wanted to walk away with
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  to buy the next home let's look at that first right
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  let's look at what your options are
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  if you only have 80,000 to put down on your next house
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  you know do we still get into that
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  you know area where you can move on
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  so all of this has
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  has so much to do with these price cuts
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  and just slashing the prices left and right
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  and just getting to the bottom of the market right
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  so it's time to adjust the price
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  when the strategy and the statistics meet
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  and that's something that we need to get through
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  we need to understand and we need to stop as agents
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  just having a price drop
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  as the only tool in our tool belt
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  so if you want to talk about this
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  please let me know listing GPT below
• 13:27
  we'll get all that to you like comment subscribe
• 13:29
  we'll see you next time