Asked by Patti Pereyra, Chicago, IL • Sat Aug 18, 2007
I've learned my lesson with overpriced listings: Never again! The wasted efforts, marketing dollars, and being blamed for the house not selling, even when you've advised your sellers time & again that the house is overpriced....
These days, if after presenting the seller w/ hard data, comps, etc., to set the right price, he still wants to try to list with his version of what the market value is, I write a price reduction into the listing agreement that must take place 2 weeks into the listing. If they refuse, then I know it's going to be a lost cause during the market time of the property, and will not take the listing.
What has been your strategy with 'hard-headed' sellers who perceive the value of their home to be much higher than it really is?
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