Michael J. Perry, Lancaster, PA   Relo Specialist (KW Elite )

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Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I base my decision more on the sellers ability to understand it is over priced, we can try their price for a week and then it needs to be priced at market value. When they are firm on their over price, that is when i may decline a listing

May 18, 2016 09:24 PM
Rainmaker
1,183,326
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I always want to be the last agent at a listing presentation.  I never considered at what percent I would walk. I definitely would have a mark down built into the contract. 

May 18, 2016 08:53 PM
Rainmaker
5,096,266
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I much prefer to be the second or third agent in on a listing with unrealistic sellers after a home has failed to sell--by then they get real and are ready to sell. I don't have any hard and fast rules at what point I walk away from an overpriced listing--depends on the home, the neighborhood, the sellers' willingness to drop price after a certain point. But typically once it gets 10% or more, I walk. Charlotte tends to price homes very close to market value, so if  you overprice you don't get traffic and sales. All you get is a stale listing.

May 18, 2016 10:14 PM
Ambassador
6,353,321
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

It depends on the property and how long it has been brewing on the market with an unsuitable price tag.

My offers generally reflect more of what I think it is worth and seldom the asking price.

May 18, 2016 09:50 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

If they are adamant and will not sign a reduction in price schedule it would be a thank you nfor the opportunity.

May 18, 2016 09:49 PM
Rainmaker
987,052
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I don't take over priced listings ever - I don't want to get a reputation for over pricing

May 20, 2016 02:28 AM
Rainmaker
823,379
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

I agree with Nina Hollander - best to walk away if you know it will be overpriced.

May 19, 2016 03:28 AM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

It is a case by case situation, and it really depends on your relationship with your client.  We know agents who will not take an overpriced listing under any condition, and those who do.  Those who do usually have a great relationship with the seller and an agreement to lower the price.  A

May 19, 2016 03:26 AM
Rainmaker
1,046,434
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yeah, no, not taking that one.
And yes - first love, second wife and 3rd listing agent . . .  <3

May 19, 2016 03:00 AM
Rainmaker
2,809,749
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - We're pretty confident with our CMA's and for most properties, our comfort level is around 5%. Much more than that is going to be an unhappy experience for us and the sellers.

May 19, 2016 02:59 AM
Ambassador
2,679,149
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   If a house is easy to comp / CMA, in a cookie-cutter subdivision, then 5 % or 10% is the max.   If the Seller has ordered an appraisal, I won't go over that appraised price.

May 19, 2016 12:15 AM
Rainmaker
2,775,611
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The thing is that you may get lucky and be in the right place or time when that asking price is negotiable. For everyday something doesn't sell, the seller feels it...You want to be there when they act on it

May 18, 2016 11:41 PM
Rainmaker
4,553,278
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

It depends.

On the property.

On the seller.

On my own sanity.  

May 18, 2016 11:27 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Michael J. Perry A well planned CMA has a low to high range taking condition, location, etc. into consideration. Chances of selling above the high end may be a waste of time. Next!

May 18, 2016 11:22 PM
Rainmaker
5,191,597
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

The gap is too great! Don't waste your time. The listing will expire in 6 months and you can try again!

May 18, 2016 11:09 PM
Rainmaker
7,788,323
Roy Kelley
Retired - Gaithersburg, MD

I have not yet seen a magic formula.

May 18, 2016 11:01 PM
Rainmaker
1,529,664
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

That would be too off for me.

It has to be under 2.5% over for me, even at 5% on my average $550K home I sell, is $27,000 over-too high. I don't like to be more than $15K "pushing it", because most will negotiate still on $10-15K over, much more than that and we look out of touch and ridiculous to negotiate with.

May 18, 2016 10:56 PM
Rainmaker
1,722,726
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Agree with you. The second or third agent usually wins out in these cases. The walk-away does depend on the price point and the differential.

May 18, 2016 09:51 PM
Rainmaker
2,350,276
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

you are right! 

May 18, 2016 09:23 PM
Rainmaker
5,848,499
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

With that price difference, I would too.

May 22, 2016 01:18 AM
Rainmaker
519,324
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I'd have to have a compelling reason to go 10% or more over my best estimate. If I can't get a client on board with my strategy, I'm better off walking away.  I did one a couple years ago for some friends, but we spelled out our planned price reductions and explained why it was a bad idea. Friends don't always make the best clients. We got it sold, but it wrecked my statistics for a while. 

May 19, 2016 03:30 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

It doesn't work in our area to be higher than 5-10%. The properties will not move or get showings. I move on.

May 19, 2016 02:37 PM
Rainmaker
1,498,148
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I get worried at 10-15%.  If they insist I'm likely to walk.  In this market though, they may get that price if they wait a few months.

May 19, 2016 08:31 AM
Ambassador
5,032,646
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It really depends on the situation and the market conditions, With our rising prices, a list price over comps from the last several months can work

May 19, 2016 06:09 AM
Rainmaker
5,583,167
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

oh, if it were only that easy....there are too many scenarios and factors to even begin to answer that question.....but I wish you well with it....

May 19, 2016 05:50 AM
Ambassador
3,339,049
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I don't have a percentage over. If people want to haggle over what they pay me or pretend to know more about the market than I do ... I generally avoid it. The energy it takes working with them can be life-sucking and negative. 

If you can get them to contractually agree to incremental price reductions week over week ... and you feel you can work with them ... that might be a good option for you. 

May 19, 2016 04:46 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

How motivated do they seem?  Is the listing in an area that will bring you other business?  What's the competition?  Answers to these would be key for whether I would take the listing or not.

May 19, 2016 04:21 AM
Rainmaker
4,898,985
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Park and reading on this

May 19, 2016 03:08 AM
Rainmaker
1,237,270
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Most are listed over 30% and expect higher prices. They do not want to even see the sold comp.

May 19, 2016 02:12 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It depends on the home.

May 18, 2016 11:33 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

what Peter Mohylsky said...

May 18, 2016 11:25 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

The list price recommendation is not necessarily at the CMA price.  For example, you might suggest a list at 25% less than CMA but the seller wants to list at CMA.  Do you walk?

May 18, 2016 10:23 PM
Rainer
225,526
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

Houses are like water. It will seek its own level with time. The sellers who are overpriced are still trying to recapture the missed opportunity of 2006.

To me, it doesn't matter what the listing price is, I'll offer what I'm willing to pay for it. And if these seller get 10 offers at the $430 to $445 range, they will come to realize it.

May 18, 2016 10:22 PM
Rainmaker
1,153,744
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

It's a judgemnet call but I like to be in the position of #1 competitor. Sometimes it's described as being the next home to sell in that neighborhood. If the price falls close to that criteria it's all good. 

May 18, 2016 10:22 PM