Home Selling in 75082>Question Details

Lisa Montes, Real Estate Pro in Carrollton, TX

Got a seller in Dallas that won't budge on the price of his home...6 months into it with 75 showings...HELP

Asked by Lisa Montes, Carrollton, TX Fri Apr 27, 2012

I am the listing agent and I am exhausted! Sent new CMA and he will not budge....any advice please.

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BEST ANSWER
Well, Lisa, if you're looking for advice, my advice is to get more clients and serve this one as well as you can without exhausting yourself.

Contrary to other agents, I don't think that having an overpriced listing or an unreasonable seller is a big problem. Having a seller that isn't happy with you is a big problem. If they're fine with you, and you're fine with them, then - advise them, let them decide, and don't sweat it.
0 votes Thank Flag Link Fri Apr 27, 2012
Do yourself a favor and stop wasting your time with them. Call them up and tell them that you realize their not realistic and aren't really interested in selling and that you've made a business decision to cut them loose.

There's only two things that will happen, either you'll be finished and honestly will feel better for it, or you'll totally blow their minds, and they will immediately ask you not to leave and will promise to listen to you. Either way you'll win.

With over twenty years of experience as a top producing agent, I learned very early on, I know way more about real estate than my clients, I'm the expert, and either they listen to me or I simply don't take them on as clients. Too many agents waste too much time working with unrealistic people who think their the real estate experts. All we have is out time and experience. It's up to us to choose how we spend it. I can honestly say I turn down more listings than I take. Real estate isn't rocket science, it's really very simple. Every real estate question or problem has the exact same answer, "Money" then there's two follow questions, "How much?" and "Who Pays" That's all there is, and deals either get made or not. Our job as agents is to be able to analyze the data that's out there accurately and to be able to communicate it clearly and honestly to our clients, they may or may not like it but it doesn't change it's valitidy. If you have a seller who refuses to accept the facts, and you still choose to work with them then you're wsting your time and money. Move on.
3 votes Thank Flag Link Sat Apr 28, 2012
Lisa,

Not sure if you still live in Coppell or not, but if you do, why don't you stop by and talk to Cinda our team leader. I think she could give you some nice advice on how to handle, some scripts for price reduction, etc.

Let me know if I can set up appointment for you.
0 votes Thank Flag Link Sat Jun 8, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hi Lisa, I see this happen in our office also. I've read the great advice others have shared with you and thought I would offer my two cents also.

This is something I've done (to million dollar properties) and something I suggest to our REALTORS, walk away and do not miss any sleep over it. As real estate professionals listings cost us (personally and our brokerage) money and sometimes stress. Don't waste your precious marketing dollar or your valuable time with an unreasonable seller. Drop them and go find you three NEW good sellers!

My best to you!
0 votes Thank Flag Link Sat Jun 8, 2013
Do they want or need to sell? What is their motivation? Are the offers they are receiving fair? It's time to have a serious conversation with your client. If they truly are serious about selling their home you should find a couple comparable homes where you think the home is priced correctly and it compares well and take them to see the homes. Letting a buyer see the competition first hand can be very eye-opening. If after that they are still not wanting to budge you may just need to walk away. Why waste your time with something that is not going to sell or a client who is not really serious?

Best of luck to you.

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com
http://www.AustinListed.com
0 votes Thank Flag Link Mon Apr 30, 2012
Thanks for the encouragement. He wants to sell his house but is way too attached. I am afraid this one isn't going to move. He refuses to listen to logic and seen first hand his Comps. He uses Zillow for his estimate and tells me I am crazy! I sure wish these websites didn't offer such services because it makes our jobs more difficult! Now I am competing with a Zestimate...LOL
Flag Wed May 2, 2012
Put the ball back in their court.
Find their motivation.
See if they will upgrade the house.
Maybe it's the condition....maybe they need granite and stainless, paint and carpet, etc.

You're right, something is wrong.
0 votes Thank Flag Link Sat Apr 28, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I agree with Guy
Did you have to price it this high to get the listing?

Let the listing expire and move on
0 votes Thank Flag Link Sat Apr 28, 2012
Sounds like you were likely overpriced from the start, so the blame is not entirely on the sellers shoulders. If you arrived at the original list price for the seller, then again, the seller was only following your lead and it will probably be the second or third listing agent who finally sells the home once the seller comes to the realization that the home was overpriced initially. The seller is not as motivated as you'd like them to be and you won't bea able to change that. Even if you get an offer, it will be well below the list price and the seller won't accept it, but again, they were following your lead.

Make a learning lesson out of this and make sure you are educating your clients regarding market conditions and proper market positiioning. On this one, sounds like it's time to hang up the boots and walk away.
0 votes Thank Flag Link Sat Apr 28, 2012
PRIOR to our group taking ANY listings we determine how real the seller is AND their bottom line ... other than that we are exhausting our time, owner gets frustrated and etc.


Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Apr 28, 2012
With 75 showings, you are doing your job well. Make sure they understand that. True, he may not be able to budge, given his debt load...or there may be other factors. To sell a given place there are two factors, price is one. Time is the other. Make sure he understands that if you cannot control price that he is willing to take the time. I once had a place for sale for 14 years. It took time to bring dept load down and for the appreciation to catch up.
0 votes Thank Flag Link Sat Apr 28, 2012
Most likely the cant bring money to closing because they don't have enough equity in the home.

Give me a call I may be able to get this home sold if you can give me more details. I don't want to post details here but some of my associates and I work with deals like this quite often.

Chris Hutchinson
REALTOR
Chris Hutchinson Real Estate
The Michael Group
972.809.0607
http://www.chrishutchinsonrealestate.com
0 votes Thank Flag Link Fri Apr 27, 2012
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