Kathy, well said! The REALTOR® usually does end up taking the blame for an over priced listing.
And unfortunately Michael, there are a fair number of our colleagues who will take the overpriced listing when we walk away from them. It just doesn't help our reputations in the long run
Kathy, good points and thank you for stating it so well, I am sending this to some of my agents who are frustrated with their sellers.
I can remember one instance where a seller actually told me I was right, a year after the listing expired because it hadn't sold. The following year they lost it to foreclosure. What a terrible lesson! I should frame what she said!
I wouldn't restrict that just to your marketplace in Lansdale. I would say that is true of everywhere. Its funny how I have been in RE for a decade now. And there are certain homes that have been on the market "CONTINUOUSLY" for that decade. The sellers apparently think that with each passing year there must be a fool out there that will give them their extravagant price just because they have it "for sale". Needless to say, I have yet to see a SOLD sign on these FSBO homes.
Natalie E.
I took note of the clown suit and 13 dogs idea... I couldn't agree more with the points you make.
Yep, that's correct. We really do have to do what's right by the sellers. We don't have to take the listing if it aint priced right...why its done its beyond my understanding. The way I see it its just a waste of everyone's time and money.
Wait. What? Free hot dogs don't sell houses? Crap. I need to take another look at my marketing.
Great article...always important to remind people of how important pricing is in the real estate market!
Price Price Price - I say that all the time. And I get - I thought it was location?? Well the location can affect the price up or down!
I think maybe free hamburgers might be the way to go!
Jan - I'm glad they admitted you were right, but that's really said to lose the house after all.
NO ONE is EXEMPT from the downturn we've been experiencing since mid 2007 in PA !!!!!
So true everywhere. . . I am just curious, do you list homes that sellers want to overprice?
Joy - No I don't. I tell the seller that if they want to pay me upfront as a retainer fee, I will take the listing at their price. And it is the only way I will do it.
I can't believe how hard it is to get otherwise intelligent people to understand the market pricing mechanism.
Kathy,
Thanks for all the great ideas on how to promote an overpriced listing. Maybe charging admission for all of the activities would be a good idea since the agent will not be receiving a commission on the sale of that over priced home.
Hi Kathy, this is Basic Real Estate 101. Why does the public still not get it? I do love all the examples you used! Great post.
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