Today, I've decided to cancel a listing, which something I never like to do, but the seller has a friend. Well you know how it goes, the friend gives him some advice and they pass it on to me and then when the home doesn't sell, it is my fault.
You see from the beginning, the seller has never wanted to quite listen to my pricing suggestions and he is always one step behind someone else in the neighborhood. When we first put the home on the market, he had to have it about $5,000 above where I suggested. The neighbor who put his home on the market 4 days later at the price I suggested sold in 6 days. Well, lost that buyer and now, "OK, Todd, I get it, lets lower the price" But, now it has been 30 days since that home had the offer and if we only lower in $5,000 now, it won't sell. There is another home going on the market tomorrow at $222,500 and we need to beat them.
The seller stays steadfast on his $5,000 price reduction only because his friend said, if they really want it, they will offer you less and you can just accept it. Well, guess what, they liked the homes equally and put an offer on the other one for $5,000 less and they accepted it. Hmmmm, so if they were equal, could he have won and had the offer on his place?
This has happened two more times since then. Six months is coming up and he still hasn't learned and wants to do it again on the advice of his friend. So, if you are a seller, don't be one step behind, because the winner in any race is the one who sets the pace and finishes the race first, ahead of the pack.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739
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If sellers would ONLY listen...the market would pick up a little. But it's greed...and of course...they have the best house in town, why shouldn't they get what THEY want.