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Why do you need to educate your sellers about the market? It’s easy to assume sellers are familiar with their neighborhood and market trends, but that’s not really the case. That’s why it’s important to educate your sellers; it helps set clear expectations and makes the sale process quicker and smoother.
One tip that’s worked well for me is setting up sellers to receive immediate updates on the market, so they’re always informed about key factors that matter most. Here are the things to focus on:
1. Set up a search. Right after taking a listing, set the seller up on a search that sends them updates for all the actives, pendings, and solds in their area. Whether it’s a five-mile radius, a school district, or a specific neighborhood, these will keep them in the loop about what’s happening nearby.
2. Watch for price reductions. We need to know when listings around them drop in price. When sellers see a price cut nearby, it naturally makes them think, Are we priced too high? It opens the door to discussions before the listing goes stale.
3. Track pending sales. It’s also important to see which homes are going under contract and at what price. This gives both us and the seller a sense of what buyers are saying yes to and helps them understand where their home stands in the market.
4. Pay attention to closed sales. Closed sales are the reality check. That’s the data sellers need to see—what homes like theirs are actually selling for. It helps set realistic expectations and supports your pricing strategy with facts, not feelings.
5. Keep the conversation going. Doing all of this keeps the conversation alive. It gives you a reason to check in every week and keeps the seller engaged in the process. You’re not just keeping them updated—you’re helping them stay competitive.
Even in a fast-paced seller’s market, like upstate New York, there are still homes that sit too long. When sellers see the activity around them, it helps them understand why their home isn’t moving and what to do next.
Educated sellers are easier to work with, quicker to act, and more confident in their decisions. So if you want better outcomes for your listings, start with this simple move: keep them informed. If you need any help, just call me at (518) 376-1073 or send an email to wmiranda@mrgteam.com. I’m happy to assist you.
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