Home > Blogs > Jennifer Bell > Jennifer's Blog

Idea for Dealing with Overpriced Listings

By Jennifer Bell

Real Estate Agent with Keller Williams Realty #53224

March 01, 2008 02:18 PM

Let's face it, we all try our hardest to have clients list their home at the correct price point, but it does not always happen! Some of you may use this already, but after a horrible experience I will ALWAYS use this!

Add an addendum to the listing contract stating that after "x" days the seller will agree to reduce the home to "y" price.

I feel this really makes the seller more accountable and realistic with the market. It also takes stress off us to "convince" the seller of the necessary reduction!

Comments(6)

Comment

Show All Comments

Sort:

Susan Davis

Austin, TX

Excellence Advocate

So simple! Great idea!

To your success!

Susan

Mar 01, 2008 02:23 PM

Ryan Hukill - Edmond

405home @ ERA Courtyard - Edmond, OK

Realtor, Team Lead

I've done this before too, but the problem is, by the time x days gets here, we've already missed out on all that great initial traffic of the first 30 days. The new has already worn off.

I prefer this clause: 'List price determined by seller. Agent advised seller of the perils of over-pricing'

This one really makes the seller accountable. It makes them completely own the price and question just how sure of themselves they really are.

I'm to the point I simply won't take a listing if the seller insists on overpricing.

Mar 01, 2008 02:24 PM

Pam Joffe

Solaris Realty - Tampa, FL

Hi Jennifer - I have often thought of doing what you suggested, please update us in the future it it works, good luck.

Mar 01, 2008 02:27 PM

Jennifer Bell

Keller Williams Realty - Hilton Head Island, SC

Ryan, I have heard of adding to the listing agreement what agent advised seller of listing it for. Good idea, I may add that part too!

Mar 01, 2008 02:31 PM

Joan Whitebook

BHG The Masiello Group - Nashua, NH

Consumer Focused Real Estate Services

A very good idea and I know several agents who do that as well. It is a very useful tool and I think this approach has been successful. Sometimes simple it what can make a difference.

Mar 01, 2008 03:00 PM

Christine McInerney

Great Life RE - Knoxville, TN

The McInerney Team, Knoxville TN Homes For Sale

That is a very good idea.

Feb 03, 2010 04:43 AM