I got a phone call today from a broker in New York off one of my web sites. He referred me a client that has a high-end property to sell in Austin. While it's fantastic to receive those type of calls, the owner thinks his property is worth about $700k over market value.
I've sold million dollar properties in my day, but never have I seen a seller that believes his home to be worth 30% more than market value. As much as I would love to take the listing, I can't do it on principal alone. I would be wasting both our time and MY money! There are 5,000 rookie Realtors in Austin he can call for that!
I have provided sold comps that are far superior to the subject property for less $$$. I'll see if that makes a difference in his judgement of value. So many people think they are sitting on a gold mine when in fact they are sitting on a mountain of pyrite!
I'm sticking to my guns and see what happens. In my opinion, I don't care if you have a home worth $10 million. If you want to sell it for $20 million you can scroll on down to the next page of Google and find yourself a Realtor that does real estate on the side after his day shift at Mickey D's.
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