PS . . . if they insist on pricing higher than market value, I often REQUIRE that they sign on for 9 months rather than the traditional 6 months to help protect my investment in time and money spent on marketing the property.

Raquel,

I often explain to them that the current short sales and foreclosures ARE being considered by appraisers in determining value whether they are "off market" sales (info not readily available to realtors) together with those "market" sales shown on the local MLS. I further advise them that in this ever increasing market of short sales and foreclosures, their house value can change dramatically in as little as one month. While we have easy access to "on market" sales, those "off market" sales can turn out to be problematic.

Therefore, if they choose to price higher than your recommendation, by advising them of the conditions, THEY are taking the risk that the value will further decline in as little as one month and you as their representative release yourself of liability by properly advising them of the current market conditions.

Love and Peace,
Francesca, Realtor,ePro

You can’t. Usually sellers who refuse to acknowledge what their home will sell for are not motivated. You hear phrases like “I’m not in a hurry” “I can wait for the right buyer to come along” “I can wait till the market turns around”. This means they aren’t motivated. Let someone else list the house and pick it up when it expires.

I'm going with the good smack upside the head!

I've found out that continued patience, perseverance , and resourcefulness are the answers!
As real estate professionals, we have to continue keeping abreast with the changing market
conditions in the areas our listing are located in so we can continue to advise our sellers
accordingly. Though, sellers do not welcome to hear recommendations for price reductions
nor making home improvements present buyers are looking for, it is still our job to do so.
Finding the right ways to communicate these information that fit our sellers' personalities is
a challenge. Thanks Trulia.com for providing us this less intrusive, impartial, and always
accessible medium!

barring a good smack upside the head...

Walk thrus on similar homes for sale, under contract or recently sold in their neighborhood and info on how long those have been/were on the market compared to listing price vs. sale price.