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How I lost a listing yesterday...

All I had to do was go over and sign the papers and the listing was mine. What a deal, a waterfront home with a great view, 3% percent commission, how could I go wrong.

I went over, paperwork in hand, and walked away without the listing.

It wasn't;

•A.      My breath

•B.      My attitude

•C.      My commission

•D.      None of the above

It was I wouldn't list the house for $85,000 higher than the comps and the recent appraisal they had done. I didn't know they had had an appraisal done only a couple a months ago for a refinance they hadn't done. The first I heard of the appraisal was when I was reviewing my listing numbers with them. They pulled out the appraisal and told me I only had a couple of the comps the appraisal had. It was actually $90,000 more than the appraisal.

I tried to explain;

•1.       The market condition

•2.       That even if we got an offer, a bank wouldn't finance it at that price.

•3.       The house would become stale on the market

•4.       It cost me money to list their house. I might (?) be able to pick up a buyer for my troubles but I don't take listings to find buyers rather I want to sell the houses.

Same old argument, different house, we need to make this much on the house so we can retire.

I explained that the buyer can't finance your retirement. Your home is worth this much, in this range, only an uneducated consumer would pay close to $100k more than the market in this financial climate. Your competition for this property is the foreclosed properties in the area and they are already below my list price.

He asked me if I knew any agents who would take the listing at his price. I said if an agent wanted to take a listing at your price would you really want him or her as an agent. This agent would only be asking for a price reduction soon after you signed the papers.

The clincher was when the couple told me they wanted to list the house before they left town so they could have someone watch the house while they were gone.

I know several of you are thinking what a fool I am for not taking the listing, but I'd rather take a stand now. I'm sure they would forget that the appraisal and I came up with pretty much the same numbers. I am not a for free service to take care of a house, many house sitters get paid good money or at least free rent.

Sometimes you just have to know when to walk to the door, don't you?

Authored by Paul S. Henderson, Realtor ®, RE/MAX Professionals, Lacey, WA.

(http://phenderson.net) or http://www.lacey-washington.com

by Paul S. Henderson, Realtor ®, RE/MAX Professionals & Four Seasons Inc.,

I am a Relocation Specialist and sell homes in DuPont, Lacey & Olympia, Washington.

*Visit my website at http://www.phenderson.net to search for homes in the South Puget Sound and NWMLS for anywhere in Washington State. All information is believed to be accurate, but is not warranted in any way.

Posted by Paul Henderson, Realtor ® Lacey & DuPont Washington homes on 03/04/2009 08:12 AM

Comments (108)

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108 Comments on How I lost a listing yesterday...

MAR

Paul, I think it's more like run, don't walk. You cannnot waste your time with unrealistic sellers. Have a great day.

Paul, Been there, done that, got the t-shirt. The sad part is that somebody will take the overpriced listing and the sellers won't really be served in a professional manner. Rich

Hi Paul, I have been thinking about this scenario so much lately. I applaud you. You are part of the solution, not the problem. I just am clueless as to why sellers don't get it. Not like it's not plastered all over the news. This has become a very touchy subject for me lately, I have strong emotions about it.

Paul,

You showed intergrity and professionalism. You displayed you were a listing agent concerned about really marketing and selling their home. You were not an inventory agent just taking a listing to add to your one of many that was not going to sell!

I lose about 1 in 5 over price. But you know what I lose nothing ,because I would make nothingas it willnot sell at the price they are asking. I stay in touch with these folks ,low key because when the listing expires unsold I want them to come back to me. Not let their pride prevent them from calling the guy who gave them the right information in the first place.

My first year in the business I would take almost anything. Those days are long gone. I don't even think twice about an overpriced listing. I just say NO (of course professionally). There is no way to ever please them and meet their unrealistic expectations.

I agree that in this market there is no point taking a listing that will be more trouble than it's worth. Maybe they will call you back after they have listed with another and failed to sell. Had that happen recently too!

You did the right thing.... All you have to do now is go: NEXT

I'm with Kevin, run don't walk. Take it overpriced so you can "keep an eye on it" while they are out of town? What?

I agree 100% with your position...

I am in the process of giving back a listings that the seller will not listen to my advise to reduce the price... They also have an appraisal from 10 months ago.. 96 days on the market and 26 showings and only 1 offer that seller did not even counter.... I should have never taken the listing but felt obligated because of our previous business relationship....You are not a fool for walking away...

I know you are disappointed but you did the right thing. Sometimes you have to let a few go...particularly when they are not listening to your advice, council and expertise. Sellers need to use realtors expertise --- not using realtors as a mere conduit to getting the home on the MLS.

I say Kudo's to you Paul. Not only did you show your professionalism but you saved yourself and your sellers much frustration. If the next agent takes the overpriced listing, that agent will be the one pleading for a price reduction or trying to explain his/her way out of why hasn't it sold. I personally do not need to spend my hard earned money on someone else's dream of what their house is worth. The market determines that , not me, not you, not the sellers or last months comps.

MORNING PAUL! Excellent post for those who struggle with walking away. You could see the big picture and looked beyond immediate gratification - sticking to "doing what's right" - in this case - for yourself. All that aside, just the idea that these folks think you are a house-sitting service would have been enough for me to walk. Nice one! -- Gabrielle

Paul, good for you! I recently had a similar situation where an owner called me to list his property. The previous agent had it listed way over the market - the reason it expired. I gave him comps and a detailed anaylsis. I lost the listing and he relisted at the same high price with the previous agent. You have to know when to walk away. Unfortunately, there are agents who will list it just to get a listing.

Paul..you are not a fool ..a fool is one who does not learn from his mistakes ..and that would have been a huge mistake..so don t think twice you did the right things you showed integrity,honesty,and offered loyalty..the sellers are the foolish ones ....:0)

You made the right move...And turned it into a delightful story. double points.

Paul - It sounds like they are notreal motivated to sell the home. They also want a agent to list it so they have someone to watch it while they are gone. You did the right thing by not taking it.

My Hero!!!

If only. . . . . .

Just think of the time you saved for other and better business that will come because you're available.

Just think of the money you'll save by not going through the new listing routine.

Just think of the angst you'll avoid by not having to listen to the owners whine about what are you doing to sell their overpriced home.

Just think of the satisfaction of seeing a competitor shackled with that overpriced, pocketbook draining listing.

Just think. . . and smile.

Congrats on taking control of your business! I personally would keep an eye on it. I lost a listing because I had it about $10,000 less than they wanted but new that it was still slightly high. Son after the house was listed at their prce and low and behold it was on the market for over 7 months and sold for far less than what I had figured!

You saved yourself for clients who need you and want you!

Paul, good for you. We've been doing this for a while now also. Just absolutely unrealistic.

Paul, you are not a fool, I agree with you completely, there is no way I would have taken that listing at such an overinflated price. Move on, you might even get the listing down the road when it expires.

Congrats on the well deserved !!

Great story and a good lesson for any agent. Greg Cavaiani

I know several of you are thinking what a fool I am for not taking the listing <------ are you kidding? No way. You're the kind of agent that makes me proud to say I am a Realtor.

Kudos to you for not putting up with their nonsense.

You may get this one back after it expires. The may be more realistic then.

Paul - Holy moly ! Rock on... Great decision... you just saved yourself a lot of time and money. You did the right thing. You and I both know that other more inexperienced agents will take that listing and recommend a price reduction right off the bat : )

Maybe when they come to their senses they will get back in contact with you or just decide not to sell. Either way, it is important for Realtors to be professional and not overpromise and undeliver and put another overpriced listing on the market that will never sell. BTW, just subscribed to your blog as well ! Great stuff ! ~ Chris

Good Post. I agree with you 100%.

you took a brave stance. I'd rather disappoint them now (while they're not yet my client) than an ongoing disappointment, and having the conversation of "you told us that we could list at this price... clearly you thought there was some possiblity that we could get it".

and

Why hasn't my house sold yet... what are YOU doing wrong? I want more ads... I want more open houses... I want fresh photos taken... I want new brochures... I want more broker's tours...(this time serve lobster)... and "no"... I don't want to reduce the price.

Paul -

An oft-repeated tale!

What's the point of taking a listing that will not sell? It costs you not only $$$, but TIME to service it, as well as the HEADACHE of dealing with clients not being realistic.

In my view, not worth the headache! Move on!

Better you find out now, than 6 weeks from now, after they start bad-rapping you - yes?

Call or stop in anytime!

DEAN & DEAN'S TEAM CHICAGO

Paul, we are all walking away from unrealistic sellers who have no regard for our professional services! It is the sign of the times and they will find an agent to list, but as we all know they will not sell!! That is fact not fiction!

Good for you for sticking to your principles!!

Yeah. This deal would have just wasted your time an efforts. Good choice to walk.

You did the absolute right thing. Something I read here on active rain might help you when faced with this in the future. If the other agent is going to list it for the higher price, advise the sellers to have that agent agree up front to not ask for a price reduction for 6 months. If he/she won't, then he is "blowing smoke".

No you are not a fool. This sellers will list with someone . But when it does not go as planned they will think back on your words and know you where right ! You will look like a very intelligent Realtor in there eyes. Even if they do not admit it.

Standing ovation! Pretty cut & dry. See it as a win for yourself. Though we wish everyone could win, there's a clear winner and non-winner in this case. Time will prove it.

Excellent stance,your no fool. Other Realtors should follow your lead.

You're my kind of Realtor! Sellers who refuse to listen in the beginning never hear the market. They just drain your wallet and your energy. Plus, as Lenn says, you now have time for better business opportunities. Be kind to yourself!

You're not a fool for refusing the listing and you didn't "lose" it either. This is not a serious seller and you had every reason not to take the listing. As you said, it was yours if you wanted it. Your professional ethics convinced you that this wasn't the right house to be associated with. Good for you.

Good Job Paul. You know you did the right thing. I actually did the same thing yesterday. My seller's house is worth $900,000. I wanted to put it at $1,200,000. If all the overpriced properties in our area came off the market, we wouldn't have a glut of inventory. I have buckled in the past but no more.

Good for you it is so not worth taking an over priced listing! Yhey will probably be back in 6 months when it doesn't sell!

Bonnie

You just saved yourself a lot of time and aggravation. Now go spend that time finding clients who will listen to your expert advice.

I would say, realistically you had no other choice. I've been there, done that so many times in the past year and walked away when they just didn't get it. One homeowner loved me but listed two days later with an agent/company that agreed to list it at $100,000 over what I told him was the highest price we could go. It is now 9 months later, the house has come down $100,000 and it still languishes on the market. I'm happy it wasn't me.

Hi Paul. Good move. My own point of view is that sometimes we come away from these types of meetings feeling as though we should have been able to persuade the seller to see the reality of the situation. But sellers will often be stubborn. In these cases, no you did not "lose" the listing. Rather, the sellers lost a great agent.

One thing I've started doing is keeping a history of properties that I have prepared CMAs for but did not get the listing. I include a photo, town, my suggested list price, the price the other agent listed it for, days that the property sat on the market, and final outcome (sale, expire, cancel etc). It's a great tool of facts to support my professional advice when talking with sellers. I call it my Stubborn Seller file.

Take care, - Kathryn

Great job Paul. You are definitely not a 'Fool'. You are my kind of Real Estate Agent.

Paul, It's a great feeling to walk away and know you won't be waiting your time here. Go to the next seller who will respect your time and marketing. I walked away from one last year and It is still on the market and still over price. Beautiful Home, Great Lot but they want to much money for the area. If they put it on the market with a high price tag within a month they will know they choose the wrong agent and the wrong price for the market. NEXT....

Paul, what you did was absolutely right. You're not a fool at all! No use to spend time, money and brain cells listening to the client complain when their home isn't selling. Great move.

Grant

Paul,

What would Andy Rooney have done? I'm sure the same as you. The only way I think you give into price is if the motivation is strong. If they have to sell is the primary object, then maybe you ride with them a bit. However, this market dosen't leave room at all for over priced and as you said, stales the house. They would probably get less than it could have sold for.

Richard

Paul..These folks were looking for a care-taker not a sale. Too many times when a place is vacant and the owners are expecting their agent to keep an eye on the place..that is when things go wrong. Especially on an over priced listing..that you are not likely to show often. Pipes, vandals, break in you name it..I would have passed as well. Give me a property management fee monthly..sign a contract for that and a 6 % commission and we can talk.

OOPS. My comment said I wanted to put it at $1,200,000. I hope you knew I meant the seller wanted to put it at $1,200.000. There are some jobs you have to turn down.

I don't think your a fool for not taking it. That's just wasting your time and theirs. Then in 6 months they are going to be upset with you for not selling their home. I never take a listing just to have a listing. Good for you!

HI PAUL! I just had to come back to say "way to go" on the feature! -- Gab

Good decision for not taking the listing. I wonder what the sellers will eventually sell for in this market. An appraiser told me that a previous appraisal is only good as a reference for what the value was at that point in time, but with the rapid change of market conditions you can't go by that value.

I wouldn't worry.....just watch now what happens...it won't sell at that higher price....and 3% of no commision is ZERO....

Good for you! It shows you are a true professional! When I was brand new 2 years ago, I would have jumped at that listing... now 24 months into one of the worst real estate markets since the Big "D", I know much, much better!

Thanks for sharing your story!

Hi Paul,

I've never once regretted turning down unrealistic sellers. Like you, I am not a listing collector. I sell homes. When we get a call from a seller who is unrealistic, I always ask them . I always ask. Do you want to List your home or would you like to Sell your home? If after all I share with them they still are unrealistic about the price I stand up and say "I'm not the agent for you. I'd rather turn you down now, than disappoint you and have you be mad at me throughout the listing period."

I think most seasoned Realtors would have done the same thing!

Hi Paul, sorry to hear about the unrealistic couple. The only way they could make that money is if they were to do seller carry back financing. For their house they would have to be willing to be the bank. Have they lawyer set up a land trust that would hold the deed until the house was paid off.

If only more Realtors would follow this approach, sellers would not be able to list over market value and we'd all be able to do a better job. You made the right call and I do the same thing regularly. I'm still amazed at how many sellers ignore data and fact in favor of wishful think, or outright dillusion.

Keep up the good work

Steve Crossland
Austin TX
http://www.CrosslandTeam.com/blog

Paul,

You did the right thing. I refuse to take an over priced listing. I tell them to find a better realtor than myself.

Good for you, Paul. That's a tough call Realtors have to make. Do you take the listing to try and generate buyers? Or do you walk away knowing it's not going to bring you a commission? Plus, you don't need to build a reputation amongst area Realtors of having over-priced listings.

Paul

Well halleluiah! As an appraiser I am glad to hear that Realtors are NOT accepting these listings. I just came back from a lake lanier appraisal this morning and two homes are listed in the $700,000 and $800,000 price point and they have NO water behind their dock and Realtors have them listed. Come on!!!!!!!!!!!!!!

You are just a SMART business man. I know Realtors play the game of taking the listing and then asking the sellers to reduce later, that always bothered me and made those Realtors slip down the integrity poll for me in a big way.

I have lost business as an appraiser by telling it like it is but I can sleep at night and I know I have protected the banks by doing so.

Here is my prediction for you.....You will get a call in several months when that house does not sell as they know you as an honest man who tells it like it is....BRAVO for you!

Mary Thompson-Appraiser

Paul, you definitely did the right thing, and like others here have said perhaps they will call you after a 6 month reality check.

Good for you, Paul. And they wanted someone to watch the house, next thing they will want you to cut their lawn and do their landscaping. Better to cut it off now than after you have your time and money invested.

Bravo. Your reputation as a good listing agent will get around. No need to tarnish it with an overpriced listing. Thanks for sharing.

Paul,

I am so proud of you. My biggest complaint in my market area is that we still have Realtors listing homes at whatever price the Seller asks them to. We turn down listings all the time in our office becasue I refuse to list homes that I know are not going to appraise. Not only does it cost me money to market the property, but it just seems unethical to allow a Seller to be misconceived about the true value of their home. In addition, any halfway educated Buyer is going to lose all confidence and trust in a Realtor who doesn't seem to know the true value of homes that they are listing.

Paul - you did absolutely the right thing. Lately we have been taking a much firmer stand on which listings we are taking and in a situation such as your we walk away too. So much energy, time and effort is put on marketing the listings, we want to sell it and we would hope so does the seller. ~Rita

I would love to know how many active listings out there fall into that category. If we could get rid of some of those, then probably inventory levels would be more realistic and people would start of move along instead of thinking that they can take forever to make a decision.

Paul,

Congratulations on making a tough decision and sticking with it.

There is something to be said about not being the first agent to list a home, especially in this market, and especially with unreasonable sellers. If and when they come around, you will be there. And if not, you have not lost anything.

Paul, smart move. You are a true professional. I have also been less flexible in the listing price that I have recommended. I love your argument that "the buyer doesn't want to finance your retirement". Spot on! You just saved youreself some time and money. along with headaches. You Rock!

Paul - Good for you. You handled this professionally. Sadly, it's human nature that we don't always like the truth. You told these folks the truth. They'll probably list with someone less professional who will ride the price slide downward with them for a few months with no lookers, no offers...and it will cost them more of their retirement dollars.

Awesome character Paul. There are a lot of agents that would have taken it at any price. Ethics like yours always are standing in the end. Way to go Remaxer.

As the second appraiser to comment, I'm impressed for two reasons:

1 - the appraiser did a proper job to analyze the market and opine a value based on market evidence.

2 - Paul did the same, using basically the same info. Kudos. Integrity means more than a fast buck, which is why the nation is in the financial mess we are in now.

Too often I read on these blogs that 'the appraiser' cost me the sale or listing. The reality is an appraiser (normally) has no financial interest in the property, and thus should (if competent) do a proper job to analyze the activity in the market. "It is what it is"...not...'I hope it'll be what I think it is.'

My m-i-l has a home currently listed for what I think is $35K more than it will sell for, based on market research I've done. Is the agent being greedy or foolish? Time will tell.

Paul - You did the right thing in walking away. Good for you and good for us! Now if we all would just stick together and NOT take overpriced listings..maybe sellers will start listening to us --the EXPERTS!

Paul - how timely an article you have written here. I think that you did the right thing. Having an overpriced listing is not good for the seller or for your as their agent. I have a possibility of obtaining a listing right now, and it too is over priced . . .

You made the right decision, Paul. No doubt.

Paul - your story is so true in the market right now. So many think their house is worth so much more and that agents will do anything for sale, like house sitting.

Dear Paul,

I don't think your parents raised any fools!

They wanted you to babysit their house.

Barbara

You totally missed an opportunity here! If they where going to be leaving town and needed someone to watch the house you could have rented it out for some extra income cash each month. If it is so overpriced you could have had a steady income for a long time to come ! ( You know I'm kidding here!) I think we all know better, and for those that do know better and continue to take the listings without being upfront and telling sellers like it is...well I think the other posters covered that.

Paul,

You done the exact thing I would have done. I have recently had the same experience. Then I watched other agents list the house and for more than I suggested, a lot more, and it will sit and waste their money.(seller/agent) Then after the listing hasn't sold, maybe I will get a call. Meh. There will be other listings.

Its better marketing to have a sold sign on the lawn rather that let people see a sign thats been up for a year or two and hasnt sold.

Get the reputation for SOLD....

You made a good choice even if you sometimes dont feel like it was...Let it go.

It cost you a listing now but it cost you problems in the future. The Listing may even return to you after its listed with someone else and it doesnt sell

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Good for you Paul - Sometimes the best deal is the one you don't make. Sometimes you can't win. Sometimes they listen to you and are mad when your price is dead on and it sell in 1 or 2 weeks. They think you under priced.

Paul - always trust your instinct! You were wise to walk. I am learning to only work with my ideal clients now, and while you would think that would narrow down my options, instead I have an almost completely full client load of people that I genuinely enjoy working with. It's taking niche marketing even further...

Yes, Paul you did the right thing. What sellers don't realize or want to realize it costs money to market a home. If the price is too high compared to other houses on market it will never sell. I had the exact same situation the other day and I ran out the door never to look back.

Paul, Congrats for saving time, money, and taking a stand.

Hi Paul,

"I tried to explain

1. The market condition

•2. That even if we got an offer, a bank wouldn't finance it at that price.

•3. The house would become stale on the market

•4. It cost me money to list their house. I might (?) be able to pick up a buyer for my troubles but I don't take listings to find buyers rather I want to sell the houses.

Same old argument, different house, we need to make this much on the house so we can retire."

You handled it perfectly, like a true pro! Great job. And it wouldn't have been a 3% commission to you, it would have been money out of your pocket. Congratulations on the feature!

Sorry, but you don't want to work for dishonest people. I say 'dishonest' because THEY KNEW they had an appraisal done a few months earlier. They did NOT want to disclose this to you, but they knew they had it!

They wanted to play you. See what you came up with. Their "bone" (the listing) would go to the good dog that did their commands correctly.

Who works like that?? Not a good, competent agent. Shame on them for playing you.

We don't read minds. Had they been HONEST, forthright AND upfront with you, they would have discussed their appraisal with you earlier on. Not that you would have done anything different in the comps you pulled, but to get this discussion done prior to wasting your time.

They'll get a listing agent that will screw them out of good market time, because they will be telling the sellers what they want to hear -- not what the maket will bear.

I've seen listing go stall all the time . . . priced too high to begin with . . . market sours, and it sits and sits. 185 days later, the price is dropped, but by then they missed the market.

Withholding the truth to someone is just as bad . . . lying to someone!

Paul,

I've only been in the real estate business as an agent for a short time, but there are agents I know of who will often throw a high price to just get the listing and then, as you say, try and talk the sellers down to a more reasonable price. Unfortunately many of these agents seem to be successful at this approach while others, me included, try and be realistic with pricing and end up sitting on the sideline.

If a seller wants to price high to test the market and knows full well that it is high, does it not make sense to at least take the listing and see what happens? I really don't know anymore what is the right approach because at some point the seller will be forced to become realistic about price, and wouldn't it be better to have the property listed with you instead of another agency or agent? I also wonder if you really have much of a chance on getting the property on the rebound once the seller has dismissed your analysis.

I applaud your convicitions as they have been mine, but I do get tired of losing on price to more aggressive agents doing their markets on the high side.

I don't have a problem with you not takeing the listing. I think you did have some other options, like telling them to find another agent, but to sign a listing agreement for the correct price with you that starts 90 days from now. So when the first agent dosn't sell it at the wrong price, you can already have listing ready to go. It would also emphasize your point about the price.

I think it is called working smarter, not harder. I applaud you from walking away from something that will just waste your time.

I applaud YOU!

WE do have certain standards that we can not give up on.

Ginger Harper

Southport NC

Good for you! I wish more agents would walk away instead of letting themselves be used as property managers - it would be better for all of us. Thanks for sharing your story. Marilyn

Paul,

Absolutely perfect!.... the way you handled this situation was absolutely perfect! Now if all other REALTORS behaved in the same manner, we wouldn't have such a stockpile of overpriced real estate and we would be selling where the market should be! .. Great ethics!

Kathy Opatka Re/Max OCEAN CITY, MARYLAND

An appraisal from a few months ago is useless in this market. I have people that have an appraisal from last year who think it means something. It doesn't.

I think you made the right decision.

The housing market and the professional realtor markets are two different markets. I don't think the seller was truly interested in a professional realtor.

Wait for them to list at the high price and pick them up when it no doubt will expire. Hopefully by then they will have realistic expectations.

Totally agree with your decision to walk away--work smarter,not harder, with clients who appreciate your knowledge, integrity and dedication.

I recently walked away from a listing because (1) I would not cave on compensation and (2) would not list for appraised value (done 6 mos ealier for the estate!). They listed with someone else and the listing has had reductions and is still there,unsold. Wonder who they will call when the contract is up?

Unrealistic to say the least, it probably takes a lot to walk away these days but more of us should try it and maybe they will take their unrealitic homes off the market making room for the true sellers.

I'm also guilty, I did accept a listing almost a year ago I was new to business and seller is the husband of friend. When I listed two properties one is a condo in a condo conversion complex I told he needed to lower his price which would be a short sale, he did not want to, now listing prices are even lower does not really want to sell. Also listed was their house was listed at market price but just too much inventory in area.

Now I would not list a property if they would not agree to list at market price, too much inventory and banks will not finance at a higher price than compatibles in the area.

Paul,

I'm going on vacation for a couple of weeks. Can you water and mow my lawn, feed my cat, and scoop the doggy do from my yard while I'm gone? ;-)

I'm with Carla that I find it disturbing that they had an appraisal and weren't upfront about it. That to me is a really bad sign.

Totally did the right thing...I've walked out without some too for the same reason...in the end they'll go through many agents before they get to the right price.

Paul,

Great Post!! The only problem is that your title is wrong...you didn't lose this listing. They lost the opportunity of your representation. Their loss...

You did the right thing. You don't need a headeache that wont sell and linger forever. They obviously have not watched TV lately.

Paul,

I doubt you will even look at this response, #102. You really struck a cord on this one with that kind of response. We have all been in your shoes. This is when I uesd my Bags of Ready Mix Strategy. It often broke the blockade and I got the listing close enough to my valuation to take the chance.

We all know it won't sell and if by chance it does, it won't appraise. What are the chances for a very uninformed cash buyer? You know the answer. We also all know that it will languish on the market for far too long and if it does sell eventually, it will most likely be way off the mark it could have sold for only if they had respected your professional opinion. But the pain of a lost listing lingers. How can Realtors even hope of maybe being the second or even the third listing agent after walking away. That IS the one memory these particular sellers (if we can call them sellers) will remember and they would be too embarrassed to admit you were right to ever maybe list with you at a much later date. This is and was the dilemma I always faced when walking away from a listing. I wonder if anyone in the industry has ever come up with a solution of how we could still regain that lost listing. I have some ideas but wonder if they are ethical concerning the Realtors that would take on what you wisely stepped away from.

Ron Whitworth

Oregon City, Oregon

Paul - You did absolutely the correct and profession thing to do. However my concern is that our ranks are still filled with those who make the rest of us look bad, that do not serve the best interests of the customer and in many ways violated the Code of Ethics of the NAR on a daily basis, all for the might $. Too bad we cannot effectively weed these bads seeds out of our midst. Bob Mori, Trumbull, CT

Paul - As a relatively newer agent to the industry - only a couple years into it - you have made quite an impression on me. Because I know the market pretty well now, I stay away from over-priced listings. But your integrity is head and shoulders above so many in our industry, that you are worthy of this Gold Star. I'm proud to be a part of an elite group of people where folks like you show immense strength of character. Thank you for being a role model. Cheers, Amy's Signature

Another great post Paul! You did the right thing getting the heck out of that listing. It would have only sucked the energy out of you. Great decision!

MAR

Yea! I am #108. Good for you Paul. You will be called sooner or later to salvage what is left of the listing-Dinah Lee

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