I have working with a FSBO for about a month in a nice neighborhood. I have him some comps and a little bit of marketing help. I told him if I were to list your home, $313,000 to $320,000. I just checked the hotsheet and he listed for $360,000!

No Sweat - 3-5 months from now, when that listing expires, contact them again and let them know you're still available to help.

Wow, he will be disappointed when no one will be showing his overpriced home.

No biggie, let someone else buy this listing and waste their time and money marketing it. Once it expires, the seller will be much more realistic.

if i loose out on a listing (because another agent "buys the listing" i let the seller know (before it goes live -active-) that if they dont sell please do not hesitate to call me to get it sold

yep....stick around. Mark the calendar days about 60,90,120 days away and make sure you look for it in the expireds.

He did email me last night saying he went with the other agent. I replied saying I saw it on the MLS and will keep it in mind for my buyers. There is still only 1 photo (MLS allows for 16) and no virtual tour. I will be doing mailings again to that neighborhood later on today with average sales prices by bedrooms in the town and surrouding areas.

Yea I just do not get this. It almost pisses me off when I see a listing with one or two photos, even if they are great photos. So many buyers will want to see more of the house beforehand. I can see a few days, due to different signing scenarios. But after a few days you should have lots of good pics.

Still only 1 photo. Even when it was a fsbo, the owner did have a few photos of the house, but not any of the inside. Even most new construction & land in my market does have more than 1 photo.

I would have told him it's WAY overpriced!Did you not go over with him the most recent SOLDS and ABSORPTION rates????

If you did,did the seller explain why he though he could get 360 for the house?If it's what I need to get out of the house you should have shook his hand and left it at that.

Before pouring a TON of time into Expireds and Fsbo's you need to immediately upon making contact determine WHY they are selling and MOTIVATION.

It's an overpriced listing that you lost that will expire.When you meet with clients next time explain with data this is the market value of you home.If you go with the cheapest agent or broker than I am not right for you.If you want an agent/broker who will take your overpriced listing and tell you what you want to hear to make money off of your back with taking the buyers that call off the sign to other well priced listings then by all means go ahead.

You see Mr. seller I do not take overpriced listings as it's my goal to work for you and help you get your house sold at a price the market will bear.Anything over that is a waste of my time and yours.

Don't be afraid to stick up for yourself and don't waffle because you are desperate for a listing because you will regret it!

I did go over recent sales in the neighborhood and absorption rates. Nothing on his street has ever sold for more than $350k with the most recent sale being $320k.

He thought it was worth that much because he put in a deck and redid the hardwood floors (which every home in the price range has), put in a pool (too big for the yard and doesn't add value) and installed central air. The motivation was to sell as use the money to purchase a larger family room. I did show it a chart my broker made of buying up in a down market but it didn't matter to him.

It was about commision, since they are offering the same about of buyers comp as I do. The listing does a sign installed but not with her name or number but her offices info. I told him my company doesn't take overpriced listings and because of that, we were the only national company that had a better year in 2007 than we did in 2006.

WEAK motivation,move on to the next seller!As you do more presentations you will learn when to walk away.I would have made a brief presentation and left it at that.Seller doesn't have a motivating reason to sell.

When you hear baby is on the way,downsizing,divorce,job loss,facing foreclosure,job relocation,health issues,death in family,business problems those are MOTIVATORS.

good luck

I try to circumvent this issue pro-actively with a sheet of paper in my presentation. This sheet has 3 colums with my name on the top first. On the side, I state what I do and HOW MANY time I do it.
The other colums stay empty and I suggest the owner to interview other agents and write down what they do. So (s)he can compare who's the best for her/him.
It works well...

I think you have done everything to the book. Great persistence. Let the seller roast for a while. The day after expiry make sure to stop by the house in person.

I have do doubt you will do great in real estate.

There are currently 11 pictures up now, compared to just 1 that was on the listing for the 1st week. On Sunday, I was invited over to my clients which purchased the house in the same neighborhood and they asked me about the price of the house and when I told them, they thought the price was a joke.