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Why is it that some realtors know how to correctly price homes until it is their own home that is being sold?

By
Real Estate Agent with Charles Rutenberg Realty

I recently had the task of listing a realtor's home, so I thought ok this will be simple enough, I went in and did my listing presentation and he loved it, I thought cool, so now he wants to go and see some of the other listings in the subdivision that were comps to his I have to admit that they were horrible for the price they were asking. His house was the best in the subdivision and showed very well and had a ton of upgrades So now he wants to set his listing price  mind you I have done the cma and I even gave him 3-4% more than what it should have been listed for, he blew me out of the water with what he wanted to list for which was about 20,000 above what I told him it should be...(now I know I should have got up and left at this point but I did not) I figure I can talk him down you know let him test the water a bit since he was so adamant about it  now I did not have to do this because I had the listing already and I had no fear of losing the listing I am not the type of agent  that in order to get the listing lists high and then hoodwink the seller and reduce the price I told him straight forward that it was too high. Well I took out my listing modification agreement so that after about a week or two I could reduce the price well to my surprise he tore it up (now I really should have left but I didn't)  I go ahead and list the house anyway. Weeks go by and no showings  then we get a showing and they put in an offer exactly the price I said from the beginning and my seller turns it down they were not asking for any concessions at all,  So now an open house was held there was some interest but nothing came of it. Now comes a second open house and no one showed. We get a few showings and finally an offer over list price so now we have a contract and I am praying that it appraises out. During all of this I constantly was trying to get a price reduction, I finally thought ok the market will pick up again soon he wants to wait it out and see what happens.He was trying to be helpful and gave me a 2 page feature sheet of course I went with my own and he had what was called "Our team marketing" I thought he was way too involved with doing my job instead of doing his job as a seller as he is no longer an active realtor. I know I went against some of my personal rules I set for working with sellers and it is a lesson learned.

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