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8 Comments on "I'm Not Going to Give This Away!" What has been your response?
Steve: I always go back to the comps and data that suppport a sales price. I sometimes take them to currently listed competiting properties so they can do an actual comparision .... and SEE first hand. Good luck!
Steve...we ALL hear this over and over and over again...each time I ask for a price reduction...As Kathleen, I go back through the comps with the seller again...Hopefully, thinking this time--THEY WILL SEE THE LIGHT!
what do I do in this situation. I pack up my bags and wish them luck because I will be unable to list their home at that price. In the words of the Great David Knox, "I just let it go." I hand them my card as I am leaving and let them know that I would be happy to relist their home at a more competitive price when their listing expires and they fire their realtor. And then I breath out and "just let it go."
I tell them I cannot list for a higher price than the comps show.....if I do I write into the contract that we will reduce in 2 weeks if activity is low and no offers.....If they don't agree I walk and when it expires with the agent who took the overpriced listing I then get in touch and ask if they are ready to list now at a realistic price.....works quite well....
The same people who "don't want to give it away" and those who want to "steal" their replacement property from the Seller because "it's a Buyer's market"! "You can't have your cake. . . "
I just go back over the comps, and tell them that it is just market reality, and that I won't list a home that I don't believe that I can sell. Then, if they won't get reasonable, I just politely wish them luck with their plans, and make my exit. No point in wasting my time and marketing on an overpriced listing.
Thank you for the many thoughtful suggestions.
I have walked away from quite a few. I want realistic sellers. I don't want to waste their time and put false hope in their heads. Even if you take the listing overpriced and scream from here to kindom come that you are taking the listing against your better judgement and they need to know that it won't sell at that price, they still hold out the"hope" that it will because you took the listing. The act of taking the listing plants the tinyest of seeds that "maybe" it will sell for this inflated amount. I have taken overpriced listings and I have ALWAYS regretted it.