Consider the following scenario:

A buyer’s agent has a buyer that he just started working with. He researches the market and identifies 4 homes that are a great fit for his buyer. Three of the four homes are comparably priced, while the fourth home has a much higher asking price. Of the three with similar prices, one home is poorly staged and doesn’t show well. The second home has a poor location, and the third home has been properly staged, is in an excellent location and also happens to be his listing. The fourth home, the one that is overpriced, also shows well and has a great location.

The buyer’s agent is confident that his buyer will be interested in the third and fourths homes above. He considers the showing strategy to be ideal. If he is right, and his buyer is most impressed with the third and fourth homes that show well and are in great locations, the buyer is most likely to make an offer on the third home because the fourth home is priced much higher and is very similar. The buyer’s agent above, has used the overpriced home as a “Sell-Against” his listing which is priced reasonably. This is a great selling approach. The much higher price on a comparable property has made the reasonably priced property look like a real bargain.

When a seller you’re representing is frustrated because other properties are selling while his overpriced home continues to sit on the market, it’s an ideal time to explain how the “Sell-Against” strategy is being used to market other properties. Don’t let this frustrating situation happen to your sellers. Research specific examples of how this strategy has been used recently against sellers that have priced their property too high.