I always stick to my guns with people looking to sell for more than market value.  When the listing cancels or expires they will usually call us back because SELL their home not just LIST it.

Good luck Charles.  You are absolutely correct that it is not the sellers that determine the SOLD price; it is the buyers.

Rob

I agree- I have been saying this for months in my office - I had a lot of people arguing with me in the beginning , but now they too are tired of spending money on listings that will not sell.  I had a discussion with a client that was mad because I was not doing a lot of advertising on their home. 

I told them that when they priced the home in a price range it would sell I would start spending money on it. They are chasing the market down.  I even offered to let them out of the contract because they hired me but will not take my advice.

I did not get the price reduction... yet - but they did not want me to cancel their contract either. So hopefully soon they will take my advice and lower the price of their home.

Rob- I am keeping the two listings under close observation-thanks for the comments.

and the 2nd Rob-I love free enterprise!

Two Robs leave comments in a row just begs the..."Oh, Rob!" in your best Laura Petrie voice...sorry guys could not resist!

I know a realtor who is having his clients agree to automatic price reductions every 30 days until sold when he takes the listing.  I am thinking of doing the same.   Just checking the MLS out in Surprise and I am amazed at what you can now buy in the $180,00's --wow!  Sold my house earlier in the year for $204,500 -- Price now is going back to where it was before the boom.

Donna- Sounds like they did not want to hear it from you but must realize your right since they kept thelisting with you.  Good luck!

Shayne-I too know a realtor over in Scottsdale that deals with "luxury" properties (pretty much over $750k) and is doing the same thing.  I hesitate to put people on a schedule of every 30 days.  Way too regimented for me and buyers would definately notice that pattern but I like the idea of haveing an exit strategy that includes some predetermined price breaks based on showings, comments, realtor tours, and the like. 

Thanks for the comments!

You hit the bulls-eye with this one, Charles.  How about the sellers who want to trot out their financial situation and dwindling funds as a reason for not reducing the price?  What kind of convoluted logic is that?  The market could give two figs about your predicament, it's all about relative value.  Many sellers have already earmarked the expected winfall, so they ride the property all the way into the ground rather than making the needed sacrifice up front.