Communicating With Distressed Sellers May Suprise You On How Easy It Is… Keep Reading To Find Out How To Communicate With A Distressed Seller In Austin…
Long gone are the days of walking around the neighborhood handing out flyers and knocking on doors to find and communicate with distressed sellers. Yes, the real estate market has drastically shifted but that does not mean it is a bad thing. Sellers were told by every real estate agent they spoke with, every friend that knows someone, and even people that barely pay attention to real estate, that selling their house will be easy and they can get top dollar.
Many real estate agents are still under the impression that they can take mediocre photos, a poor listing description, weird showing instructions. These agents are unfortunately causing most of the properties to sit on the market way overpriced. It is NOT always the agent that has the listed property sitting on the market. Sometimes, the agent has done everything right, to include inform the seller on the current market, but the seller is not budging.
…that is OK! This is not a motivated seller, nor are they in any form of distress if they are willing to let their property sit on the market for 120+ days. Now, the easy part. Search Zillow, Redfin, Trulia, and the local MLS for properties that have been sitting on the market for more than 30 days. Talk to the agents if they represent the seller. Talk to the seller if they are For Sale By Owner. Find out why the property has been sitting. Assume they had offers and ask why they did not accept them.
Have a conversation. Do not sell yourself, do not put them down, do not criticize their property. Actively listen and find out if you have a solution for them. If they do not have a problem, they are not motivated, they are not in distress, and you do not have a solution that will help. Arrowood (2017) stresses how using plain language between the parties helps demonstrate not only knowledge but understanding. This understanding is both professional and personal with the person you are speaking with.
The following learning module is a short demonstration on how to communicate with distressed sellers.
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