Why should the number EIGHT be so important to you as a listing agent?
The number 8 is the market speaking to you. The number 8 is buyer's telling you something about your listing, regardless of FEEDBACK. The number 8 should be brought up in EVERY listing presentation.
So what is so important about the number EIGHT?
Eight is the number of showings you should expect to generate an offer. Statistics show that if you have EIGHT showings on a property, then an offer should come out of those eight.
If you have EIGHT showings on your listing and you have not generated an offer, then there is something wrong in one of two areas that you have control over. Granted, it could be other things like location, but you have to say that if it is a factor you do not have control over, like location, then PRICE OVERRIDETH ALL. So if you do not have that offer in EIGHT showings, you have a problem with PRICE or PRESENTATION.
Presentation could be clutter, staging, repairs or whatever. You and your seller have control over PRESENTATION. Ultimately, you may choose to fix PRESENTATION with PRICE because as we said, PRICE OVERRIDETH ALL.
Right Price + Right Presentation/ EIGHT SHOWINGS= SOLD!
What's the downside of that equation? If you have EIGHT OR MORE showings and NO OFFERS, you have probably just sold the neighbors house! Why? Because if they find the neighbors house to be a better presentation or price value, your listing becomes the one that pushes them into that door and away from yours! Think about it. If you are buying yard signs and at the REAL ESTATE STORE, you see you can get your signs for $50 each but you don't buy right then so you can compare. You go down the street to Super Sign Company and see the SAME sign for $35, you buy right then because you've found your "DEAL". In essence, REAL ESTATE STORE just SOLD Super Sign Company's product to you!
So give the number EIGHT it's proper due. Set the table in your listing presentation by letting your sellers know that NAR STATISTICS show a properly PRICED, properly PRESENTED property should sell within the EIGHT showings. Let your seller's know what has sold in the neighborhood each week and let them know if they HELPED sell the neighbor's house!