I am in a situation now where I have worked with a client for almost three months and he does not want to drop his price (property is already over market value by $50,000.00+) and is very demanding at the current price.

I was wondering if any of you have ever refused a listing or told a client at the end of your contract that you prefer to move on in separate directions?

How would you go about it and is it safe to do in this business for your reputation etc.

I have refused a listing multiple times due to disagreements about pricing. Though I've never really refused I just state at the outset that if it's not listed at or near "this" price I'm not interested marketing this home. I would just tell him that the listing is up and if he wants to continue to use you to market his home then he needs to drop the price $50,000. Back it up with sold comparables and lack of activity if there is a lack. Leave it up to him. Your reputation won't be hurt. Your reputation might be hurt by having an overpriced listing that never will sell more.

Its called firing a client.

Safe way to do it is Lay out the situation. Show them how many showing, inquiries, comments, agent comments, etc. Provide an updated CMA, and tell them what you will list the property for or find another Realtor. I encourage them to contact other Realtors for their opinion and add "Whoever you call feel free to have them contact me if they are uncomfortable talking to you because the property is listed, I'll give authorization".

These days if what they want and what the property is worth, I won't even take the listing. It saves alot of future aggrevation. I simply explain, "There is no way I could get you that price, but thanks for your time".

Well, I have refused listings if I thought I would not be able to generate any kind of leads from it...and I have refused to list some sellers who, out of the gate, want me to cut my fee, work three times as hard, who are overpriced, and who don't want to sign an exclusive...

I've also refused listings that I KNOW could not sell - such as unbuildable lots in associations. there is no point on working for something that will not sell, and that will not generate quality leads.

I guess I will speak to my client, it just seems like he is being too greedy and does not want to move in price when I know he will attract for clients if he does.

The secret to listings is SELLER MOTIVATION. Without it you have nothing regardless of marketing,calls,whatever...

Now if they want to take a stab for 1 week and then you reduce that is fine. The key is to know why they are selling. If a seller says "I am waiting to get my price" then you have low motivation.

I list a little high but not that much and then say at 1 week we gave you maximum exposure and the market is saying it is overpriced. Now is the time to get realistic and price it correctly. After the seller has answered in their minds the "what if" question or trying a high price and getting lucky they come down to planet Earth or I let them go.

I have close to 30 listings and don't have time to take unrealistic sellers. Just like buyers you need to create a system where you get to CHOOSE who you want to do business with. This is very powerful to be able to make a statement that you are very busy and only want to work with serious sellers that price correctly and with your maximum exposure system will help them get the most money the market will bare.

Just took another listing today.13 acres of commercial I will list in the 300's. Before an agent had it listed at 1 million and didn't know what they were doing. The plan is to give it maximum exposure then every 5 days reduce until it sells or we go commercial short sale route. You have to keep these sellers on a plan to get them to sell and make sure they are highly motivated to begin with.

There are key words sellers will use when they talk to you to save face but is really code for "I am in trouble financially and need to sell".I always ask what if it doesn't sell in 30 days what then? I ask this to get their mindset of where they are at. If their financial situation dictates a quick sale I explain we will be priced accordingly and then show if the market is appreciating,flat, or declining and by what percentage each month. Then I show how to NOT be behind the pricing curve and how that will yield less to the seller.

We have different campaigns to generate seller calls and usually out of every 5 calls we might take 2 to 3 listings.It's not that would couldn't take them all it is just that after assessing the seller they are not realistic enough for our time and resources.

Always remember if it doesn't close you don't get a check! Yes you can get residual calls but most in my market want the deal and that's it.

Refusing listings is a necessary evil sometimes. Show the comps and if the seller refuses to be realistic thank them for their time and run away.

One thing I have noticed over the years is that overpriced listings don't really generate good leads. The buyers think you are an agent who doesn't understand market value. They just aren't worth having for any reason!

Realtor, if the seller is unrealistic and you don't get any benefit out of it, such as attracting good leads or marketing to an audience (e.g. High end) you would normally not target, then perhaps it's time you cut your losses and focus on clients who value your input accordingly.

Unmotivated clients are a huge drain on your time and resources. If the seller is not willing to be realistic especially in this market, then its time to fire the client and move on.
When I first became licensed an experienced and wise agent told me "sometimes there is no greater joy than firing a client" ...that sounded pretty harsh to me at the time but having fired several clients in the past year - I totally get it. Always wish I had done it sooner.