This morning I woke up to an email from a graduate that needed some help. The situation paraphrased:
I need to call a client in response to an email I just received about his objection to a price reduction. After receiving low offers his argument is “If I reduce, then I’ll get even lower offers”.
The graduate was looking for a dialogue to use with the seller to get the needed price reduction and from the rest of the email it seemed that the initial conversation about reducing the price happened on the phone. Nothing was decided on the phone and then later the seller emailed his objection to the agent. Of course thanks to Floyd Wickman and several others I'm full of dialogues that fit in this situation to help get the price reduced, but for this post I want to argue a more important point: how and where you have this conversation in the first place is more important than the dialogue used. Price reduction conversations should be in person and ideally in your office.
"But Jason, I don't have time to meet in person." Really? How much time do you think an agent spends on the initial call trying to convince the seller to lower the price, then how much time is spent crafting the perfect response email when the seller sends you their objection? How much time is spent dwelling on it and asking other Realtors and trainers about how to respond? Add all that up and it's way more than just scheduling an appointment with the seller and then handling it all in the moment, in person. Besides, delivering a world class dialogue requires you use proper facial expressions, visuals and body language - these things are not possible over the phone.
And when you think about it, there are a lot of other benefits to meeting in person. Being in your office gives you more control over the situation. Being face-to-face allows you to build a stronger relationship with your client and it communicates non-verbally that you care enough to take the extra time. Since they're coming to you, it's not really that much extra time and you can even see if they have a referral to send your way. The more I think about it, the more I can't imagine why someone would want to have a price reduction conversation over the phone.Here's the only dialogue you need for the phone: "We've been talking about your house at the office and I want to go over a few things with you. It's important and I'd like to see you in my office. Would this afternoon at 4 work or would 5 be better?"
Have any thoughts? Let me hear em!