Join Rob Nelson and Peter Parnegg on this "intellectual safari" as they explore a timely and crucial topic: how to effectively discuss pricing with sellers by understanding and addressing their inherent risk tolerance. Moving beyond traditional, often adversarial, pricing conversations, Peter introduces a Ninja-inspired approach that positions the agent as a trusted advisor and partner, helping sellers navigate their two primary fears: leaving money on the table and the property not selling at all.
Triggered by observations during the pandemic and the current market shift where price reductions are common, Peter breaks down how sellers' pricing desires are often an expression of their individual tolerance for risk. This episode offers a fresh perspective on visual pricing and the "choices and consequences" framework, empowering agents to guide sellers toward informed decisions rather than dictating a price. Through insightful role-play and discussion, Rob and Peter demonstrate how to reframe the pricing conversation to be collaborative, reduce conflict, and ultimately help sellers achieve their goals.
Learn how to ask the pivotal question that uncovers a seller's dominant fear, leverage market data effectively, and dust off underutilized tools like the "buyer's eyes" conversation (with some caveats!). This episode provides actionable strategies to transform your listing presentations and build stronger, more trusting relationships with your sellers in today's dynamic market.
Join the community of 16,000+ Ninjas on the Ninja Selling Podcast Facebook Group for more valuable insights, collaboration, and networking opportunities! Leave a voicemail at 208-MY-NINJA if you'd like to offer more direct feedback. Be sure to check out Ninja Selling Events for upcoming installations and other events, and if you'd like personalized help in achieving your goals, visit Ninja Coaching to connect with one of our fantastic coaches. Don't forget to subscribe to the Ninja Weekly Action Tip at ninjaselling.com (upper left corner) for more great insights!
Episode Highlights:
The Genesis: Pandemic Lessons and Evolving Seller Risk Tolerance
Seller's Three Greatest Fears (and How They Relate to Price)
The Problem with Traditional Pricing: An Adversarial Approach
The "Aha!" Moment: Overpricing as an Expression of Risk Tolerance
Visual Pricing and Choices & Consequences: Partnering with Sellers
Role-Play: Asking the Key Question – "Which Risk Pings on You Harder?"
Managing Seller Expectations: The "Try Price" and Price Reduction Strategy
Using Real-Time Market Data to Guide Decisions
Dusting Off Seller Tools: The "Buyer's Eyes" Conversation (and its Nuances)
The Importance of Homogeneous Properties for Effective Comparisons
Reframing the "Overpricing" Dialogue: Understanding Seller Motivation
The Power of Reminding Sellers of Their Initial Investment (Subtly)
Controlling the Process, Not the Decision: The Ninja Way
Key Takeaways:
Recognize that every seller has a unique tolerance for risk, and frame pricing discussions around helping them manage this.
Understand that a seller's desire to "overprice" often stems from their fear of leaving money on the table, not just being unrealistic.
Utilize visual pricing tools (like scattergrams) to empower sellers to make informed pricing decisions collaboratively.
Ask sellers directly which fear is greater for them: leaving money on the table or the property not selling at all.
Educate sellers that a more aggressive initial pricing strategy can attract multiple offers and potentially drive the price up.
Position your value by offering a "pricing strategy" designed to achieve top market value, rather than just a "CMA."
If sellers want to test a higher price, establish a clear timeframe and data points for reassessment based on market feedback.
Shift from "convincing" sellers to guiding them with data and helping them understand market dynamics and their choices.
View sellers who seem "unreasonable" or "unrealistic" as individuals managing their fear of loss, and approach them with empathy.
Subtly reminding sellers of their initial investment can help frame the current market value more positively.
Links:
Links:
Website: http://www.NinjaSelling.com/Podcast
Email: TSW@NinjaSelling.com
Phone: 1-800-254-1650
Podcast Facebook Group: http://www.facebook.com/TheNinjaSellingPodcast
Facebook: http://www.facebook.com/NinjaSelling
Instagram: @NinjaSellingOfficial
Upcoming Public Ninja Installations: https://NinjaSelling.com/events/list/?tribe_eventcategory%5B0%5D=183&tribe__ecp_custom_2%5B0%5D=Public
Ninja Coaching: http://www.NinjaSelling.com/course/ninja-coaching/
