Don't ya hate gettin' fired!!!!!

Head 'em off at the pass, Pete.  Don't even list the overpriced, ugly house.  You really do have that option.  However, be sure to let the sellers know they should not hesitate to call you when they "fire" the agent that took the listing at the ridiculous price.  That way you're the agent that's listing at the lower price that sells...

Try to get presigned price drops from the client at the time they are agreeing. That way you can put them in at the date they approved for unless they call you and tell you not to.

I have spent a lot of time explaining to seller's how an appraisal works and why overpricing a listing doesn't work.  The home just won't appraise.

Things like this do happen. If you take an overpriced listing thinking the sellers will lower the price soon or at least you will get some buyer calls from the listing. Sellers do forget about lowering the price then become upset because no one is looking at the home. Then you are out and another agent is in with a home price in the range it will sell in. With REO properties I have noticed banks and mortgage companies will sometime price the home at the top of the market. Then lower the price every month. About the time the list price is in the range it will sell you have had the listing too long, they take it away from you and give it to another agent and the next week it gets a full price offer. In this case it is best to be second in line for the listing.

Thanks for the post!

Rick Irving

Lanette is right on!  Beat them to the punch and fire them if they won't listen to your expert advice.  Then it won't be your fault when t doesn't sell.