Why would an agent allow a seller to overprice a house in Charlotte, NC? I had a prospective seller thank me today even though they chose not to list their home right now. I don't think I have had this happen before but they assured me when the time was right I was their agent. You see I spent over 6 hours in two different meetings with this seller explaining the market conditions and showing them charts, graphs, comparables and absorption rates to ensure they understood what they were up against. They interviewed other agents as well but told me that they knew I was honest and telling them truth. They went on to tell me the other agents were willing to list their home at a higher price based on what they originally thought they could get, that is before I spoke with them. They shot me an email after wards again thanking me (see below).
Hi Jennifer, we want to say ‘thank you’ for taking the time to sit down with us and explain in detail the situation with the market right now. We were very impressed with your thorough presentation. You told it as it is and it certainly was a little discouraging as we worked so hard on this. I know we aren’t alone. We were very pleased with you and will want you to represent us when the time comes.
Now I will admit these sellers were rational and actually took what I said to heart and that is still rare these days. Their next door neighbor has had their home on the market for over 1 year with only 1 price reduction and almost no showings. This home is similar in size and features as my seller's and even now is still $30-40K over what comps would suggest it is worth and should be listed at. As I walked them through all the data they made mention of this neighbor and asked in amazement why would an agent allow a seller to over price a house in Charlotte, NC like that? I told them that is a good question that I could not answer.
I continued my discussion with these sellers and let them know that I had made a commitment to myself, my business and clients to only work with people that were realistic about the market conditions and committed to getting to the closing table. I believe many folks call that a win win situation. Without it, agents waste time and resources pursuing a result that is not likely to happen. Which makes me wonder why would an agent allow a seller to over price a house in Charlotte, NC with the current market conditions what they are?
I know allot of agents can justify taking an overpriced listing, most all of us were taught to just take listings. We even have a CE instructor (Bill Gallagher, super funny) here in Charlotte, NC who jokes about being "Listless", like it is shameful. That always gets a laugh in class. It does make me think though why would an agent allow a seller to over price a house in Charlotte, NC? Are they afraid of being "Listless", do they think they will get loads of buyer leads, do they think they can work on a price reduction once the sign is in the yard, are they yellow and let the agent feedback tell the seller that the price is too high? I could go on but there is not enough time for this post.
My question to the Active Rain world: Do you allow a seller to over price a house? How is that working for you?
If you would like to search homes for sale in the greater Charlotte, Matthews, Mint Hill and surrounding areas, you can see for yourself what is available. If you would like to meet with Jennifer Manchester to discuss buying or selling your home in the greater Charlotte, Matthews, Mint Hill area visit her at www.JenniferManchester.com to schedule an appointment today!
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