Apply the 10% rule and increase your listings activity and sell them faster

The 10% rule is based upon the premise that in any given month 10% of the inventory in a town will sell because it is perceived as a good deal compared to the rest of the active inventory. In a market like we are in driven by price it is critical to have your listing positioned competitively.

The question is - How do I get my clients home in that group?

First start by researching how many competing listings are currently active in that town that are comparable in size. In order for your client's home to sell this month it needs to be 10% below the competition. It will then be perceived as a deal or bargain and go under contract saving your clients months of carrying costs. Naturally your clients may resist reducing the price of their home so make sure this conversation takes place in person and that you present them with your research. If they are still unwilling to do a reduction ask for a 10 day reduction and market it as a 10 day sale in your open house ads and online. The worst that can happen is that they get more traffic or an offer