This subject reminds me of sellers from last fall who refused a full price offer. They did it by countering the offer. Now, their home faced the freeway, of all things. You could watch from the front yard the big rig trucks and strings of cars whizzing by overhead. The location was noisy and visually unappealing.
After 3 weeks on the market, we finally received a full price offer and the seller rejected it. Why? Because they thought they should ask the buyer to pay more than they were asking simply because it was a seller's market. They did not realize how lucky they were to even receive a full price offer.
These sellers were also a bit perturbed about the home they won in multiple offers. Yes, they had already bought another home with my team. Since they were involved in a multiple-offer situation, they were naturally forced to offer more. Their reasoning? Because they had to pay more for a much nicer home than theirs, this was payback. Wha?
Even though I explained that buyers will feel they are greedy because there was zero basis to issue a counter offer. Usually, sellers will counter if we have multiple offers but we had only this one, single, lonely offer. From a well qualified buyer who loved the home.
Nope, they didn't care.
Of course, after the buyer received the counter offer, his reply was forget it. After that, they finally realized this strategy was not a smart maneuver. MLS has ramifications for sellers like this. You can read more in my personal blog today at this link: What Happens Sellers Reject a List Price Offer?