Listing properties nowadays brings a myriad of challenges. Proper pricing, convincing sellers of the actual value of their property, even with the most detailed market analysis, is the biggest challenge. I normally do a traditional market analysis, followed by another analysis of sold prices vs. assessed values in a narrow ($10k-$30k) sold price range, and a 3 month and 6 month analysis of current year solds, in the same narrow price ranges, as compared to the previous year time frames in the same 3 and 6 month periods. Sellers, almost always, are able to see, and usually agree, with my conclusion of value.
Seller motivation is always the most important variable I consider whether I will list a property, yet it never ceases to amaze me when the even the most motivated seller wants to list at a price considerably more than my recommended list price, even when they agree with my conclusion of value.
Some sellers look at the challenge, as having a negative attitude, rather than a realistic assessment of the market.
Maintaining a positive attitude in a rapidly declining real estate market brings many challenges to all agents. How an agent handles these challenges will determine their longevity in the real estate business, as well as how the agent adapts/embraces the changes taking place in our industry in technology and transparency.
The sooner agents properly advise their sellers as to market value and market conditions, rather than taking the listing for long time periods figuring they will eventually wear the seller down and get the price reduced to where it needs to be to sell, the sooner the market will recover.
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