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#453394 - 07/10/16 08:51 PM Seller not wanting to lower list price
DJM Offline
Member

Registered: 07/21/14
Posts: 43
Loc: Massachusetts, USA
Hi guys, how often do you run into a seller where they won't listen to their Realtor when you tell them house is not selling because it's over priced? I've got the most stubborn seller where she's got her teeth into a net proceed from the sale of her house but house is not getting any bites because I keep telling her it's because of the asking price. We are into the third month of a 6 month listing agreement and she wants out of the agreement and go with someone else. I talked to my broker today and he wants the 3 of us to sit down and talk about it. I don't know what the hell she wants me to do. House is a nice house but neighborhood won't support her asking price. She won't even look at the comps I've given her, says she has her own but won't produce them. She's so freaken unreasonable. I can't be the only one that runs into this crap! Anyway, thanks for letting me vent.

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#453395 - 07/11/16 05:39 AM Re: Seller not wanting to lower list price [Re: DJM]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7950
Loc: Vermont's North-East Kingdom
You chose to work for her, and if the only idea you have is to lower the price, then I guess you're at a standstill.

You can always represent a Buyer and get of the Commission; you know the property better than anyone else.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#453405 - 07/11/16 06:01 PM Re: Seller not wanting to lower list price [Re: Vermont]
DJM Offline
Member

Registered: 07/21/14
Posts: 43
Loc: Massachusetts, USA
Pretty much Vermont, hard to sell a home that's over priced. Have had quite a few lookers, but no offers. I believe she's getting an ear full from family about using a family friend but I don't believe my broker will let her out of the contract till it either sells or expires. So, I guess we are at a standstill. I'm pretty confident about my pricing on listings, so unless she lowers the price, or gets lucky, it'll sit. Cutting my commission is out of the question so I guess she'll have to find the money she needs elsewhere.

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#453671 - 07/30/16 09:02 PM Re: Seller not wanting to lower list price [Re: DJM]
Tex Offline
Member

Registered: 02/11/14
Posts: 220
Loc: TX
Don't think for a second your situation is rare. Some people are positive that they know more about this business than we do, didn't want to use a Realtor in the first place, but did, then won't listen to our advice. Too bad you are her first Realtor.

I have witnessed homes go through two or more Realtors and six month listings before the seller finally caved and lowered the price. The last Realtor got the cheese.
_________________________

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#455771 - 12/07/16 10:54 AM Re: Seller not wanting to lower list price [Re: DJM]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3320
Loc: LAND OF THE FREE!
This is why I love expireds. Her next agent will offer a plower list price based on comps and she is more likely to agree because she won't have to swallow her pride and admit you were right. Not to mention once a person digs their heals in it just becomes that much harder to get them back.

I always say that everything we say and do builds a wall between us or builds a bridge between us. If you tell someone something they dont want to hear or aren't ready to listen to you are building a wall even if you are right.

The secret in sales is to be able to get through to those people by being their partner and building a bridge even as you are telling them what they dont want to hear

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#455772 - 12/07/16 10:54 AM Re: Seller not wanting to lower list price [Re: DJM]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3320
Loc: LAND OF THE FREE!
..what happened with the listing???????

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#466218 - 11/23/19 06:30 PM Re: Seller not wanting to lower list price [Re: Tex]
emoore0023 Offline
Junior Member

Registered: 11/20/19
Posts: 2
Loc: Kentucky
I just went through this and it is so frustrating. seller wouldn't go lower than 249K I got him a 200K offer which he refused to counter because it was to low. After it expired he listed with another agent and now asking price is 220K. Guess he now realizes my 200K offer was a great offer on a property I told him would sell for around 180K-200K on a good day.

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#466230 - 11/27/19 01:18 AM Re: Seller not wanting to lower list price [Re: emoore0023]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 412
Loc: New Hampshire
I think every agent has experienced it at some point. For me, it was when I was still comparatively new and had not really learned how to price property to cause it to sell.

Sometimes I took over-priced listings because I hadn't been prospecting or because I believed I could get them priced right during the listing period. One of the worst for me was getting a listing to the right price with about a month left on the listing and I couldn't sell it; when it expired, the seller re-listed at my price with someone else and they sold it in a day or so.

It's a tough business, but a good one, I think.

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