Spam prevention
Rainmaker
3,612,652
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Debbie... if the seller is willing to write in automatic reductions to the asking price on a schedule into the listing agreement, I would.

Apr 26, 2015 09:12 PM
Rainmaker
5,053,236
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Debbie,

There are so many pros and cons on this one.  Bottom line is that you have to feel good about it.  And if someone else gets the listing, so what!  You can get many more that will actually get a showing and you sell it rather than having a listing and hoping they will come to their senses.  A

Apr 26, 2015 02:11 PM
Ambassador
1,770,705
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Yes Debbie, I would say to to the seller in this situation that we try it your way for a set time (2 to 4 weeks) and then if there are not many 2nd showings and or comments regarding the price then a price reduction will take place.

Apr 26, 2015 11:21 AM
Rainmaker
1,602,594
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

No, but after they list with a competitor, and it expires; then it's time to re-approach them to see if they have wised-up to reality.

Apr 26, 2015 10:55 PM
Ambassador
2,759,162
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good morning Debbie. The market certainly will dictate what the seller will get. Expect a hard negotiation process.

Apr 26, 2015 07:10 PM
Ambassador
4,321,658
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I'd be inclined to say no if the seller's price is that far off? But perhaps a written agreement to reduce the price in 3 - 4 weeks if there is no offer? I sure wouldn't want to spend money on marketing this overpriced listing.

Apr 26, 2015 02:59 PM
Ambassador
3,985,894
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I would say that much over in our marekt will not get any showings. In fact in the CMA range it may not get any showings, Noah Seidenberg, Isn't it giving credibility and endorsement to such a high price? 

Apr 26, 2015 11:33 AM
Ambassador
1,542,290
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I would take it.  I tell my sellers let's see what happens in 3 weeks if we don't action or good feedback we'll go my way and do a price drop. 

Apr 26, 2015 11:47 PM
Rainmaker
3,331,885
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

 We would not...someone will !

Apr 26, 2015 11:42 PM
Rainmaker
943,650
Brigita McKelvie, Associate Broker
Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA
The Broker with horse sense and no horsing around

I ould not take the listing.  It would be a waste of time and energy marketing a property overpriced by this much.  An overpriced farm in my area had been listed with numerous different agents at different agencies.  The Seller did interview me a couple of times, but I walked away from it because it was over market value.  Finally the Seller contacted me a third time and he had come down in the asking price.  Still slightly overpriced, but workable.  Guess what, after 5 years on the market, this time it sold.  

Apr 26, 2015 10:32 PM
Ambassador
1,706,764
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Probably not, but if I did only on the condition of automatic price drops that would bring the price down to reasonable in one month on market.

Apr 26, 2015 10:13 PM
Rainmaker
3,321,768
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

No I wouldn't.  If they wanted lets say 10% over market that is one thing. Anything higher I would walk away. 

Apr 26, 2015 08:52 PM
Rainmaker
581,577
Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

And yet one more reason why I have never taken a listing, not ever. I deal exclusively with buyers. 19 years now. Sellers almost always seem to have the "best" house to sell, even in a pure cookie cutter neighborhood.

Apr 26, 2015 04:31 PM
Rainmaker
829,522
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Debbie - I know every home seller always feels that they have the most expensive home in the neighborhood, but I would certainly ask why, after I provided comps, the owners still wanted to list their home 20-25% higher than your CMA range? I would also have a very honest discussion about whether they really want to sell. I also like Evelyn's approach regarding a price reduction. You will need to get that agreement in advance, or the home will never sell.

Apr 26, 2015 03:54 PM
Rainmaker
1,682,389
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Someone will list the home even overpriced.  Perhaps you can get them to sign something showing what you recommended and where they wanted to list it.  Then when it doesn't go anywhere you can show them where you suggested and get a price reduction.

Apr 26, 2015 02:21 PM
Rainmaker
2,433,114
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

If you don't someone else will, but I would ask him how long he thinks it will take to get an offer.  Then I would get the price reductions at the listing appointment so when it doesn't happen you don't have to have the discussion again.

Apr 26, 2015 12:32 PM
Rainmaker
1,421,677
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Debbie Reynolds No, I don't believe I would. Over priced listings don't seem to sell in any market.

Apr 26, 2015 11:40 AM
Ambassador
2,031,476
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Hopefully, the seller will listen to reason and agree to a lower list price. I think it would depend on the listing itself  and the cooperation of the seller whether I would take it.  

Apr 26, 2015 11:35 AM
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

If I feel that he will come around, yes.  If not, no.

Oct 25, 2018 06:49 AM
Rainmaker
699,027
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Sure but let them be aware that within a few weeks you will be beating them up for a decrease, then do it.

May 01, 2015 07:02 AM
Rainmaker
3,768,182
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Debbie - there would have to be some  pretty overwhelmingly positive factors why I would choose to "buy" into this concept.   20-25% over your recommendation seems to represent a very different sense of reality that makes me wonder about representing them.    

Is there something else going on here?

Apr 27, 2015 01:31 AM
Rainer
83,331
Amy Gutschow
RE/MAX - Sheboygan, WI
Professional Real Estate

No. I tell my sellers I do not take pretend listings. I sell for real. It only hurts you to have a sign up for a year The neighbors see you as a agent who cannot sell

Apr 27, 2015 12:57 AM
Rainmaker
113,789
Jeanne Feenick
NextHome Premier - Basking Ridge, NJ
The Agent you choose REALLY does make a difference

I like Nina's suggestion - though tempting to take in any case, the seller may view your acceptance as "buy in" to their inflated pricing view.  And then it can be pure heart ache trying to change the course and get the job done.

Apr 27, 2015 12:51 AM
Rainer
2,310
James Cahill
Prime Real Estate Group - Hoboken, NJ

I would probably do it with the understanding that there is a reduction after 2 weeks of less than standard activity.  

Apr 27, 2015 12:35 AM
Rainmaker
4,433,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I have done it and will not do so anymore. Sellers never agree for price reduction and then when it expires list with another agnet .It is better to be the next agent.

Apr 26, 2015 11:45 PM
Rainer
26,764
Beatrice Briseno
RE/MAX Unlimited - San Antonio, TX
Beatrice M. Briseno, GRI, CDPE, San Antonio, TX

Only if they agree in writing that if they have no showings or offers within the first 21 days, a price drop will then be done.

Apr 26, 2015 11:39 PM