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Rainmaker
443,220
Cindy Davis
SD Home Source Realty - San Diego, CA

Ahhh...I I had a dollar for every time I heard that one...

This would lead me to have a conversation about home values, appraisals and market comps. If the seller dismisses all of it, I'm pretty sure I'm wasiting my time.

 

Aug 24, 2015 09:39 AM
Rainmaker
699,277
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

I think that is in the sellers handbook that they all pick up somewhere when the rest of us aren't looking.

Aug 24, 2015 10:29 AM
Rainmaker
212,755
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

Yeah, I've heard it and seen walked away several times. I always enjoy watching another agent list it and see it stay on the market 6 month or a year with nothing happening. If sellers are nor realistic, I wont waste my time.

Aug 24, 2015 09:44 AM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

I think you know the answer to this one Debbie, a very common concern and statement.

I hope it worked out well with your client.

 

Aug 24, 2015 12:34 PM
Rainmaker
454,881
Bob Haywood
McGraw Realtors - Owasso, OK
BobHaywood.com

Yep, that's why I never talk about what I think it's worth.  Only what the market says it is worth and thus appraisal.  One cannot argue with market forces.  Well, they can, but it leaves their home sitting...with the other Realtor who overpriced it.  I list homes to sell

 

Aug 24, 2015 10:57 AM
Rainmaker
637,434
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

And many of them think that the agent who agrees to list it at that price will get it. Famous last words. Often these sellers don't stay with that agent. Have seen homes change agencies several times until it finally sold--at below what they could have gotten originally. Why? Because by then it's become "stale" and few agents will even show it.

Aug 24, 2015 10:30 AM
Ambassador
1,452,819
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Famous last words!

Aug 24, 2015 10:25 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Heard many times and quickly forgotten when the seller finally has to lower the price to the market.

Aug 24, 2015 10:19 AM
Rainmaker
2,486,205
Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

I have heard that statement several times Debbie.

Aug 24, 2015 09:49 AM
Rainmaker
784,786
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Everyone wants to get as much as they can, hopefully they will learn to trust your judgement.

Nov 28, 2018 12:39 AM
Rainmaker
1,432,649
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I would point out it is only worth what some one is willing to pay.  What you have to figure out is if they are flexibly deep down or stupid.  

Aug 30, 2015 12:35 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Debbie, it's impossible to be a real estate agent for 5 minutes and not hear this comment! All we can hope to do is have our homework done and show them what the appropriate price is. Then again, I've found that deep down, every seller feels they gave their home away and every buyer feels they overpaid. I suppose it's human nature. And a related comment is "I need to get as much money out of my house as I can because...."

Aug 24, 2015 09:34 PM
Rainer
120,390
Heidi Kelley
Keller Williams Realty Leading Edge - East Providence, RI
Your Rhode Island Real Estate Connection

Oh yes. At that point if they choose not to accept what I am telling them about their property I kindly thank them for their time and wish them the best. I won't take their listing. It's a waste of my time and theirs.

Aug 24, 2015 08:31 PM
Rainmaker
2,759,812
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 Good Tuesday morning Debbie. I think that some folks have unrealistic expectations as to what the property is worth.

Aug 24, 2015 07:10 PM
Rainmaker
2,538,633
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Debbie. I hear the term all the time. It is an emotional time for anyone selling their home, it just means more education is necessary.

Aug 24, 2015 06:49 PM
Rainmaker
979,496
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Debbie - I would imagine that we all have heard some version of this more than once. I don't know of any home owner who thinks their home is worth one amount, only to be told that it is not worth that much, who wouldn't think they are giving their home away.

It can also go the other way, when a home owner has felt their home was worth one amount, only to find out they could sell it for a lot more.

Aug 24, 2015 03:20 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Oh yes. I have sellers like that now. They have done nothing, but waste my time. I'm going to let this listing go. 

Aug 24, 2015 01:20 PM
Rainmaker
2,443,250
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Yes, I have heard that before.  Then they go through 2 or 3 agents before they drop the price down to reality.

Aug 24, 2015 12:55 PM
Rainmaker
1,683,912
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

That does sound familiar.  That's when you know it's going to be an uphill battle.

Aug 24, 2015 12:55 PM
Rainmaker
809,829
Bob Force (REALTOR®)
Weichert Realtors - Aspen Hill - Mount Airy, MD
The FORCE in Maryland Real Estate

Debbie:

My counter to statments like that is - 'Let us see what the market place tells us'. 

I make it clear in the listing agreement that we will review - the number of showing, and any comments received, after thirty days.  I hold atleast one OPEN HOUSE and one BROKERS OPEN during that period.  Asking comments at both.

Then is no movement at the thirty day review, I bring out the release addendum already signed by me.

Aug 24, 2015 12:07 PM
Rainer
105,987
Chris Mamone
Keller Mortgage - Tacoma, WA
Senior Loan Officer

I would tell them HOW and WHY your listing the home at said price. I have a realtor right now that has a seller who is insistant about selling their home $30k above the average in the area. The home has been listed for over a year. Seller tried to get frustrated with her, but realistically, only 3 homes in their price point sold in one year. In addition everyone at brokers tour priced it at $30k less. You can't fix stupid.

Aug 29, 2015 02:49 PM
Rainmaker
628,764
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Thats when you need to have the conversation with your Seller , and say Do you want to stay? or Go? The market is telling you "no thank you" at the current price.

Aug 29, 2015 05:19 AM
Rainmaker
61,716
Scott Thompson
Columbia Mortgage Plus - Blue Springs, MO
Commerical Finance - Blue Springs, MO

They call those FSBO's folks.

Make it a Great Day.

Aug 25, 2015 04:49 AM
Rainer
112,947
Vera Gonzalez
RE/MAX Suburban, Inc. - Sterling Heights, MI
Gonzo For Real Estate

Once they say they don't care that means they don't value your opinion. There is not enough money in the world to trade this type of listing for your sanity. 

Aug 25, 2015 03:29 AM
Rainmaker
474,492
Bill Dandridge
MKB, Realtors - Roanoke, VA
GREEN, ABR, GRI, EcoBroker

When I hear that I let them know that we are not going to be giving it away, but that the market will twll us what it is worth.

Aug 25, 2015 02:49 AM
Rainmaker
805,799
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Hi Debbie,

I hear it all the time! I don't think I have had a seller that actually think their house is worth what it really is!

Aug 25, 2015 02:39 AM
Rainmaker
516,437
Brenda J. Andrew
ULTIMA REAL ESTATE - Willis, TX
Professional Realtor in Conroe/Willis, TX

I don't know that it was said quite like that, but definitely the "I am not going to give it away!"  Most of the time they are not "giving it away."  

Aug 25, 2015 01:52 AM
Rainer
334,783
Linda Metallo DiBenardo
RE/MAX Impact, Lockport, Illinois - Lockport, IL

Groan, hearing that phrase makes me want to pack up and head for the exit door.

Aug 25, 2015 01:41 AM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I think it's in the sellers handbook.   

Aug 25, 2015 12:55 AM
Rainmaker
1,390,113
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Yes.

In which case they are the high bidders for their home.

Aug 25, 2015 12:36 AM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Debbie - I think that is the most common refrain in our industry.

Aug 24, 2015 11:39 PM
Rainmaker
911,338
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I had one similar. I showed her overwhelming proof of what her house was worth and what it should sell for. She said " I don't believe in comps, I believe in setting the comps". I told her that there was no sense in me wasting everyone's time trying to sell it then. She wanted $100,000.00 more that all recent comps.

Aug 24, 2015 11:29 PM
Rainmaker
440,656
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

It is understandable that after living in a home and loving it  sellers think their house is worth more than the market.  This is why we have to take the emotion out of the process and always refer to "the market" which sets the price.  Showing comps, then asking why a buyer would pay $$$ for your house when they can get several others that are similar for $$ can get them to think.  What we "want" and what we "get" in life is often different.  The motivation of the seller is key.

Aug 24, 2015 11:18 PM
Rainmaker
280,599
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

"Yes, I understand.  Maybe you need to keep it until the market improves and can support your price."

Aug 24, 2015 11:07 PM
Rainmaker
1,661,936
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Yep I've heard it more times than I'd like to remember.

Aug 24, 2015 11:01 PM
Rainmaker
1,084,061
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

I think this is a "statement" that all sellers learn and they drill on perfecting it.

 

I hear it at least one a week..

 

Aug 24, 2015 11:00 PM
Rainer
273,237
Richard Robibero, e-Pro, ABR, SRS
Panorama R.E. Limited - Toronto, ON
Selling Your Home as if it were My Own!

A few times. I still try to work with them but if the price is so far out of reality that it's unworkable even with a price drop then I move on.

Aug 24, 2015 10:44 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Debbie Reynolds Famous last words from a seller who wants to justify their over priced property. Next!

Aug 24, 2015 10:28 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Yes i hear this and then i tell and show them what their house is worth in todays market, how i arrived at it and why it is important to not over price a home, 

Aug 24, 2015 10:19 PM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I've heard it often and oddly enough the seller is right far more often that one would expect.  I'm in a situation now where the buyer offered 850K Seller countered at 890K Buyer came back at 860K Seller came back at 880K.  Both side put their heels in and refused to move.  My seller told me he wouldn't take less than 875K.  I relayed this to the buyer's agent and was basically told to pound sand at 11 AM.  While I was answering this question the buyer's agent sent a text to see if they can get into the house at 10AM tomorrow.  It's the Seller's home and they are the bottom line.

Aug 24, 2015 01:29 PM