Cynthia (Cindy) Nina-Soto
"A mans home is his castle" comes to mind immediately. The reality is that most people,have a very high impression of the value of their home. It does take time and effort to bring them around but it does eventually happen in most cases.
Unfortunately, we can't assign a number it........
So, it seems while you real estate pros also make mistakes, you attempt to place the blame on the seller....that was not the case in my situation. At present because of this agent's poor performance and severe lack of integrity, we are attempting to have the contract voided. So far, even though the broker has promised to void the contract, we have not been communicated with in over three days!
Experience has taught me that sellers "realize" the market value of their home earlier if their agent is upfront and honest about the value at the time of the listing. That is not always easy for an agent, particularly when the agent is facing competition from other agents who are "dangling" a higher listing price. It boils down to the trust level, from the beginning of the relationship, between the agent and the seller. If the seller views the agent as a true professional who has the seller's interest in mind, then in most cases the seller will benefit from the agent's knowledge of the market and act accordingly.
As I read your question, if all the offers are in the "same ball park," how long (how many offers) will it take until the owner realizes what the market value is? This situation sometimes comes up when an owner is convinced that his property is worth more than the Realtor is suggestion.
So, hypothetically, let's say the house is worth $410,000, according to the comps. The Realtor suggests putting it on the market at $419,000, to allow for a little wiggle room. The owner, however, is convinced that the house is worth $449,000, and the Realtor reluctantly agrees to put it on at that price, but that the price will drop if there's insufficient activity or interest.
So, if I understand your question, some offers do come in. But they're at, say, $410,000, $399,000, and $418,000. How many such offers does it take for the owner to realize the market value?
I'd say 2-4. The reaction to the first one is probably, "Oh, that's just an investor lowball." Second one might be, "Well, I guess they're looking for a bargain. But after a few more, most owners are going to realize that the market is speaking loud and clear to them.
Just my opinion. Hope that helps.