Reading the Market Signals
Nobody wants to tell a seller their home is overpriced. But avoiding the conversation doesn't help your client. It hurts them. The longer a listing sits, the harder it is to sell. Your job is to deliver the truth with data and empathy.
Signs It's Time
1 Showing Activity Has Dropped
If you had 10 showings in week one and 2 in week three, buyers are telling you something. The initial excitement has passed. The price-motivated buyers who would have acted have already said no.
2 Feedback Is Consistently About Price
When showing feedback keeps coming back with "nice home, but overpriced for the area" or "buyers liked it but felt it was too high," that's the market talking. One piece of feedback is an opinion. A pattern is data.
3 Days on Market Exceed the Area Average
If homes in that neighbourhood are selling in 14 days and yours has been listed for 30, the listing is stale. Buyers notice days on market and start wondering what's wrong with it.
4 Similar Homes Priced Lower Are Selling
This is the clearest signal. If a comparable home down the street just sold for $50K less, buyers have a direct comparison. They will choose the better value every time.
The Rules
No offers after 3 weeks of consistent showings? It's price.
No showings at all? It's definitely price.
The market doesn't lie. It just tells you things you don't want to hear.
Acknowledge, Explore, Recommend, Check
This four-step framework gives you a clear path through the conversation. It respects the seller's emotions while keeping the discussion grounded in data.
A Acknowledge
Start with empathy. The seller needs to feel heard before they'll listen to data.
"I hear you, and I know this isn't what you want to hear. I wouldn't bring this up if I didn't think it was important for getting you the best result."
The full playbook
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