Ok, this might sound stupid to some of you, but I have to vent.

I had this lady walk into my office with a little bit of an attitude. Quickly, she lost it.

After talking to her a little bit, she considered herself an "investor", she had a house she wanted to sell, and I was the one to do it. Great! Not really....

I prepared a CMA, called her and explained that this was an "estimate" and that I really needed to do a walk through, then I could be more accurate as to what I thought it would sell for, and that my opinion could change the selling price.

She understood this.

I went and looked at the house. It had some real problems.

After explaining to her my findings and telling her what I would be comfortable listing it for, I left. She wanted to think about it.

(Keep in mind that she had already contacted a real estate agent friend before she came down here from NY. He had told her what he thought it would list for WITHOUT seeing it)

Needless to say, she listed with the other agent. However, the asking price is way to high and they will never get it. There is also no pic of the property on MLS ( which to me is a BIG no no).

He is offering a lower commission, which is fine because she KNOWS what I offer as far as marketing her property. She told me that he doesnt do anything as far as marketing goes.

So three weeks later, I am sitting her, fuming because this agent knows better. The seller just sent her family back home because of school starting and she is staying her until it sells.

Ok, I vented, but I still cant help but think....

Shame on the agent, he knows (if he did his homework, there is no way it will sell for what he told them)

And shame on her for being so greedy that making $60,000 off the house isnt enough. Guess she should sit on it.

Sorry, it was either post here, or send her a letter....This was by far the better choice.

Yep...sounds familiarly frustrating. She may see the errs of her current agent when the listing expires w/o a sale...it may or may not do you any good at that point, but I'd keep with your laurels.

Let it go! Idiots who will not list within market price are NOT worth your time and expense. Keep a watch on the listing and call her once it expires.

The same happened to me 2 months ago, seller listed with competition $25,000 above my CMA price, and guess what?? Still listing is still active.

I am happy she did not list with me

I am happy that she didnt list with me, but only because I know what is right for the area, and so on.

Besides, its her wasting the time and money sitting on a house, when her agent friend is to lazy to market it, even with a picture.

Thanks for the response, I feel much better :-)

Alisha, that's the part of our business some people think they know too much about the business or are purely greedy. You should be happy you are saving your marketing money, plus time and efforts for clients who will respect you and your professionalism.

List and sell homes for people who are committed

Lower commission, more resale price ..let her sit on the market. If it expire approach her and do another CMA and tell her what you true market value of teh home is at that point. At that time if she still doesnot agree let her go and move on.

Good Luck

I don't do anything for an investor before i have an eba signed and know why(motivation) they are selling.

Example:Did they get in over there heads in a rehab and need a bailout?

Do they need to sell in a certain amount of time or can they handle carrying costs indefintely until they get there MAGICAL price?

I learned this the hard way a few years ago as a new agent,experienced agents qualify the buyer or seller before doing any work for them period.What this does is make the best use of the agents time and dollars to reap the most benefit.The hard ones you usually just refer off to newbies for a refferal fee,you don't want one overdemanding client consuming 80% of your business.

good luck

I know some of my sellers did not want their home on the MLS so atleast where I am at, it's the sellers choice. Maybe she choose to not have it placed on the MLS??

Angie

Angie don't post so late you lose the train of thought

This is an old trick. Take the overpriced listing, then try to get the price down later. I don't do it, but I lose listings that way. But then, I haven't really lost anything.

Angie...

It is on MLS... :-)

it's always a balancing game. if you have a great agent, then the seller can simply listen to the agent and everything will be good...seller will get maximum dollar and agent will make commission and everyone will be happy.

the problem is that not all agents know the market or want to really maximize the dollar for the seller.

there are a lot of agents who want to list at 5% less than market price b/c they want to get multiple offers the first week, pick an offer with the least contingencies, and get paid a few weeks later. the only person who can stop himself from being taken advantage of like this is the seller.

there are also a lot of agents who give a ridiculously high price just so that they can get the business. they hope the market will keep going up so that 2-4 weeks later the market will "catch up" to their inflated price. the bottom line is that they got the deal. of course these agents are also no good so the seller needs to be educated and informed against these agents as well.

in the end, it's the seller who sets the price...not the agent. if the house doesn't sell, more often than not, it's the seller's fault, not the agent's fault.

RVD.