Careful not to sing the "It's not my price" country and western blues

The tell them anything they want to hear to get a listing and then shift gears and spout way way too high priced and boy, they have to see reason. You are right about expectations, who set them or was the enabled for nose bleed pricing. That is like vehicles on a high speed highway that someone threw into park, left them scattered here and there all over the multi lane highway. Stalled, wasting resources and causing other owners to say if Joe's place is blank, mine is way way better and two and a half times blank. Not how the dog and pony is supposed to play out. Ground rules. Only you can prevent over priced listings.

Too many of these around in my market. Too many that don't sell either. Everyone takes over priced listings at one time or another for different reasons. No way to market that property by saying "motivated seller" etc... that is just wrong.

Andrea, I rarely take overpriced listings unless I know the motivation to sell (must sell, bought another home, relocated, etc.)...too many associates hold onto multi million dollar houses for years waiting for the client to die!  We make our bed and sleep in it in this business...whatever is comfortable for you.

Andrea, taking an overpriced listing hurts the seller in the long run and often hurts the reputation of the agent and our industry. Educating sellers on the current real estate market is a must if they really want to sell their home.

If a seller is going to be or get all they can...a sellers market is the time to do it in

There are times we have to be more creative when taking an over priced listing to receive offers.

I agree, submitting any and all offers does sound desperate. Justify that over priced listing and get as much as possible for it!

I do my best to avoid the pain associated with listing it too high, by paying for an appraisal beforehand.  If you still want to list it at that price, be aware we may have a financing issue later.

So true!  I recently viewed a house during a broker tour and the agent (from out of area) told me that the price was not hers, it was the seller's.  Hmmm.

One month later the listing was canceled, a new local agent had the listing, and it was priced right.

Proves your point, I think.

Andrea

A very clever post about a not so clever approach to selling homes, but we see it all the time and everyone knows it's overpriced. It's especially easy to tell in this market with the demand being high and inventory being low. As we all know, all the marketing in the world will not sell an overpriced homes...it just advertises to the world that it's overpriced.

Jeff

Yes, if an agent agrees to accept a listing at a price they know is too high, they need to cowgirl up and support their client. 

Andrea, I like your story and the message.  It is right on the money.

Yeah and you wont be adding priced to sell quick either lol

Andrea, I found this post because Lenn Harley reblogged it. Thanks to Lenn for that.

Your post is quite entertaining, but I hope you don't take outrageously over-priced listings. There must be a limit.

Bill Roberts

Andrea, I just stopped by to wish you a happy Labor Day, I hope all is well.

Very good reminder!  If we as listing agent can't stand by our clients, then maybe we should reconsider taking their business.

Andrea, great post, and I agree with you 100%.  Recently I had a Seller micro-manage me, and insisted I advertise "motivated seller, and bring all offers."  Obviously I objected, explaining the reasons why, but he won.  The Seller has been fired.

Andrea,

Or it has radon coming out of the chimney.....

Ann Hayden in Wildwood, MO

Oh this is a good post Andrea.  Yeah, not "MY" price, but you consulted with the sellers on price!