When I first got into this business in the early 80's, I believed in the old addage that "any listing is a good listing". That's the conventional wisdom and it's coming back to bite a lot of agents today.
If a listing has no chance whatsoever of selling because it's $100,000 over market, what good is it? In my view, it's a liability. It costs money to advertise, it weakens your reputation because it never sells and the perception to the world is, if you are too weak to negotiate with your seller and have him see reality, how can you can you negotiate with a buyer?
In any market, it's hard to fight momentum. If the momentum is downward, then your market analysis is wrong the day you print it. Find out the average rate of depreciation and use it. Then, if a seller does not take your advice, say thank you very much and move on to the next one. It will save you time, money and a lot of stress.
You can still sell a house in 30 days. You need a motivated, rational seller who is willing to be the best value on the block.
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