Wow, over 19000 listings in the Columbus metro areas.  I let expire or gave back over $1,000,000 worth of listings last week mainly because Sellers were not motivated.  It was my mistake for not recognizing this in the begining but I thought they would do what I asked.  They didn't so I quit wasting my money on them.  The market is what it is and right now its all about price and quality for most homes.  I can tell when sellers are really motovated because they call me before I call them with a price reduction.  My partner had a listing expire and we asked about a price reduction they said they knew they should reduce it but "I'll be dammed if I sell it for less than what I paid for it" well, you have to wait for the market.  Sometimes they forget about all the tax breaks & enjoyment from the house.  Also, they forget they will make it up on the other end (if that is what they are looking for).  We have over a 9 month supply of homes on the market right now, things are selling at a good clip but you have to stand out, have some unusal feature or be priced below the market.  It's simple economics.  I was on a Realtor tour today and saw a new listing a 90 yr old guy was selling , needed a lot of work but priced $30K below market because it needed some cosmetic work, I called my investor friend and he looked and we were going to write an offer but decided against it because there was already an offer and 2 more coming in!  Im sure it will go for more than list price in a day! So this goes to show, they are Buyers out there, they are looking for deals though.  So in most cases, it's the price silly!
 
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2 Comments on Fired Sellers

Hi Paul, great post.  Welcome to ActiveRain! Can't wait to read more posts, it sounds like you will have a lot to share with the community.

07/19/2007 07:55 PM by Stephanie Edwards-Musa, Realtor ® The Woodlands, TX Real Estate (Prudential Gary Greene, Realtors ®)


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Real Estate Agent: Paul George (Coldwell Banker King Thompson)
Paul George
Columbus, OH
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Coldwell Banker King Thompson

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