Every market has one, or ten, of those agents that just don’t get it. I realize that you are probably thinking the number is much, much higher but let’s play nice.
Last week we received a call to list a canal front property and went right to work on coming up with a price. What we came up with was $400K-$500K, closer to $400K than $500K, depending on the inside.
When the owners (investors) heard this they let it fly in one ear and out the other. They wanted to list the home for $720K. Just an inside market tip for you, there has not been a canal front home sell for anywhere near that price with one or two exceptions back at the height of the market in 2005. After explaining our market and our pricing for 20 minutes we got our answer. It was explained to us that they did not care if it sold; they just wanted it to be listed, arguing that it would never have a chance to sell if it was off the market.
After another 20 minutes explaining how homes that far overpriced hurt the market by giving other sellers the idea that they can ask that much for theirs and so on and so forth it became obvious that no amount of reasoning would change their minds. They asked again for us to list the property and we finally said “No, Taking a listing like this would hurt the market, our company and our own business.”
A few days later there is a $700K canal front home on the MLS hot-sheet. I just can not understand the philosophy that any listing is a good one.
To all the Realtors out there who have enough sense to run their business wisely, Thank You!!!
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