Yes it would be... and I've been the second and even third agent in on many listings because I refused to list at an inflated price. Would much rather "get them when they are real."

I think that often as well Andrew, but then I see a sold sign on one of these and wonder why anyone would pay that amount. 

Apparently sometimes the seller is right, or gets lucky...

Great idea, not going to happen.

Andrew,

That certainly makes sense, but the world at large does not make sense, so the world of real estate follows suit...A

If I hear those words I have to question the motivation of the seller and determine if I want to fool with it.

Hi Andrew - We never mind being the second or third listing agent as long as we're the last.

WOW - must be nice to live in a cookie cutter world where pricing is an exact science!  Most of my listings have zero comps to guide us, the appraisers that are often called in prior, haven't a clue either 

The short answer is yes.  Though, there are times when there are extenuating circumstances.

First rule of Real Estate: Honor thy seller & buyer. From there, anything goes

Do you really believe that? I think they'd find someone else to take it at their price, only to sell it a year later below your original price because it sat so long or the market shifted.

Over pricing comes from undereducated clients and agents.  Some agents have a strategy of buy the listing and hope the market may catch up or the client wises up.  I find this unethical, and would rather be the one they come back to, so I warn them against this strategy and ask them not to reward those who employ it.  

It sure would however some agents that is their sold source of listings, by telling sellers it is worth more than it is.

the problem with that scenario is that THERE WILL ALWAYS BE AN AGENT WHO TAKES AN OVERPRICED LISTING.... MLS will still be congested.... but not with your name on the listing....

In an ideal world that would be great, but until all agents take that perspective, it's not going to happen. There is always someone willing to take an overpriced listing

True indeed. In many cases, it is to our advantage to take listings on the second or third go-around.

"What is an overpriced listing?"

Are assumptions being made when you define 'overpriced' listing?

To dismiss every seller who says "I'm not going to give it away" demonstrates a true lack of 'understanding the vulnerability the buyer feels' by the agent.

I work with it and get the house sold.

however, the value of a home is determined by the market.  Too often we "experts" believe we determine the value.  I have recently seen a piece of land listed at market price, sold on MLS, then relisted immediately and sold again for more than double the original list price, because a neighbor wanted it and needed it to expand his business.  In this case, the true value of the land was above what most professionals would have expected it to be.  Was it overprice?  I don't know, but it sold for more than double what a comparable piece of land might have. 

First born son.

Second wife.

Third real estate agent.

Stuff happens.  

Thanks for sharing your observations.

Agreed

Andrew Mooers - what is that.... wishes were horses....lol

Overpriced is sometimes in the eyes of the beholder.  A slightly overpriced listing may actually be easy to sell.

About 2/3 of the over priced listings I take end up selling so it sometimes takes the sellers some times to come to reality

We already have low inventory, that would mean less to show.  Just because they say they are not going to give it away doesn't mean they won't give it away to a price much lower than they started out with.

The world of real estate is filled with so many variances. I make it a rule not to take over priced listings every so often I'm proven wrong:).

I've turned away too many listings... because I felt it was overpriced, only to have them sell in a few days...

or

to have the next agent take the listing at a higher price, only to beat up the seller with price reductions over a time... eventually selling at the price I suggested.

The agent who accepted the over-priced listing got paid.  I, on the other hand, got bupkus.

Give it away, so many sellers say that and then a year later they lower the price.

Maybe every seller should be required to do a FSBO the first month before listing. Let them see how fun that is!

Depends on how over priced.  Out here I hear a LOT of agents whining about my listings being the "highest price per square foot" in the area and calling them over priced... yet they sell in mulitple offers for list (or over).

My motto: If the house is worth it, you'll pay it.  A Rolls Royce has a higher price per square foot than a Hyundai, but you don't see people complaining to the Rolls Royce dealer... they're adding onto the price!

You always want to be the first child, second wife and third Realtor BUT...I have seen overpriced listings sell for the full amount and sometimes even above.

Our inventory is very low so not unusual here.