This High Performance Podcast for Real Estate Agents features Josh Phegan and Alexander Phillips on knowing when a price reduction is necessary and explaining this to the client. Alexander tells his clients from the start that a price reduction may be needed and why. Josh addresses the issue of poor agent recommendations and Alexander expands on ways to make better pricing judgments.
They discuss aligning vendor expectations with current market conditions and getting past your fear of confrontation in order to deliver recommendations in a timely manner. Alexander describes how he verifies that a price reduction is necessary and demonstrates due process to the vendor. They discuss how government regulations will affect pricing, and Josh ends with making sure you understand your market and become a pricing specialist.