Deanna Fortney, Specialize in first time and relocation (Century 21 M&M and Associates )

Spam prevention
Rainmaker
3,908,640
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I just tell them... and at some point if they don't get it, I fire them. That's the ultimate message. There should be a limit to the amount of time and money you spend marketing a property for unrealistic sellers.

Jul 24, 2016 08:37 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I have a statement I make that their house will sell at that price one day but that day may be in a year or it may be five years. I am not willing to promote a property that long.

Jul 24, 2016 11:55 AM
Rainmaker
826,332
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

You don't have all the ingredients, you lack the ingredient of a reasonable seller, now be reasonable and do what you need to do...drop them like a hot potato.

Jul 24, 2016 05:54 PM
Rainmaker
5,368,308
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Some people will not listen to reason.  They know better, and I woud suggest you just move on.  A

Jul 24, 2016 02:22 PM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Sometimes  you are beating your head against a wall with sellers.  Early in my career I learned that sometimes it is better to be the second or third agent with listings.  By then the seller may be more willing to listen.

Jul 24, 2016 12:15 PM
Rainmaker
1,092,717
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Words don't do it but action will and sometimes you just need to walk away.

Jul 24, 2016 11:58 AM
Rainmaker
718,101
Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

This has happened to me a few times. I tell them in the begining to list with someone else and then call me back in 6 months, because it wont sell. Or if its during the term I send them two addendum, one is for a price reduction and the other is for a cancellation of contract. I tell them to choose. 

Jul 24, 2016 11:18 PM
Rainmaker
1,231,599
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Relatives, friends and neighbor's are often the most difficult clients.  Here's what works for me:  I am a professional just their neighbor on the other side of their home who is an attorney or physician.  If they were sick wouldn't they follow the doctor's advice?

Welcome to ActiveRain Deanna Fortney 

 

 

 

Jul 24, 2016 10:51 PM
Rainmaker
1,721,855
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

I just reacently had to fire a seller with the same issue.  They since hired another agent and the home still on the market for the past 6 months at the same price.

Jul 24, 2016 10:19 PM
Rainmaker
3,529,765
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

An addendum terminating the contract.  Let them hire another agent and when the place doesn't sell maybe they will have learned a hard lesson.  Why worry there are many other clients that will listen

Jul 24, 2016 06:53 PM
Ambassador
5,214,243
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Sometimes people just need to hold onto their home for a while longer.

Jul 24, 2016 04:20 PM
Rainmaker
1,510,357
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

They will not listen so present them with a schedule of price reduction if there is no results. When they see there is no interest for that price, they might realize that you are not a magician. 

Jul 24, 2016 04:13 PM
Ambassador
3,642,709
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

You can't win in some cases!

Jul 24, 2016 01:25 PM
Ambassador
1,771,405
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

You can walk away, get it appraised or put it on the market and show them the feedback.

Jul 24, 2016 12:55 PM
Rainmaker
2,441,966
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

A motivated Seller.

Jul 24, 2016 11:55 AM
Ambassador
3,222,919
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Last year I did tell a seller that I simply had to let it go as it clearly wasn't going to sell at that price - the market has dictated that loud and clear. They finally (after letting them think about a few days) brought it down and within a week it sold.  But....I was done marketing it had they not reduced it.  I told them I would refer them to another agent. Their response to that....but you're our agent. We haven't even thought of anybody else because we like how you market.  Well, sorry but I just can't keep marketing an over-priced listing.

Jul 25, 2016 02:03 AM
Rainmaker
1,444,927
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Deanna Fortney You've proved the home cannot sell at the current price. It won't be long and the sellers will blame you for not selling it. It is time to walk.

Jul 24, 2016 11:29 PM
Rainmaker
906,823
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I tell them "I'm sorry but I won't be able to get that price, perhaps you'll be better off "Listing" your house with a listing agent".

Straight forward and then I move on - I don't take over priced listings unless the seller is willing to reduce the price within 2 weeks if we get no traffic

Jul 24, 2016 11:26 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

A pre-determined price adjustment schedule built in to the listing agreement!

Jul 24, 2016 10:41 PM
Rainmaker
5,570,665
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

after 30 days on the market, meet and repeat.... that's all you can do.... 

Jul 24, 2016 10:24 PM
Rainmaker
6,369,564
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

There will never be a shortage of unrealistic clients. Limit your expenditures in these cases.

Jul 24, 2016 10:04 PM
Rainmaker
2,013,870
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

One of the best questions for showing feedback is - What do you think it will finally sell for ? Show 10 or 15 of these to the Seller

Jul 24, 2016 09:57 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I would suggest they take it off the market or list with another agent.

Jul 24, 2016 09:41 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Deanna Fortney - by sending regular updates on recent sales. If seller is educated about what's going on in market, they will understand.

Jul 24, 2016 04:37 PM
Rainmaker
149,484
Esther Preston
Heartland Realty - Redmond, OR

I'm dealing with the same thing right now.  We've had one offer a low ball offer . I know the house will sell at some point for close to that price but they want it sold now so lower the price

Jul 24, 2016 02:38 PM
Rainmaker
1,136,268
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Suggest you order an appraisal from a 3rd party since your voice is not heard-90% home sellers are that way.

Market in SF Bay area is relatively quiet this year. In Palo Alto, Los Altos, Saratoga most listing agents on bigger homes ask: Do you have a buyer for me? 

 

Jul 24, 2016 01:54 PM
Ambassador
4,493,962
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Sometimes no matter what you say someone is not going to listen to the facts. The emotions may simply be too strong. Then it's time to move on - you did your job, and they have to deal with the consequences of their decision.

By the way welcome to ActiveRain. I hope we will have the benefit of hearing more from you about yourself, your business, and your local community. You will learn so much by being here! If I can help, please let me know!!

Jul 24, 2016 01:51 PM
Rainer
97,766
Carol Wilson
Your $imple Home - Toronto, ON

My personal approach would be to ask them at what point he or she would know that it won't sell, specifically, how many open houses, how long is long enough to wait?  This won't change their mind...nothing will do that.  But it might get them thinking a tiny bit about exactly what they are asking you to do, for no money.  You might choose to point that out to seller.  Privately, I would get ready to bail, especially if a 5-10 minute conversation on the question I just posed gives no clear answer or an unrealistic answer.  Now the client has to sell you on staying (but don't say that).  I did a blog once about a seller who didn't want to sell.  Different actions on the part of the seller, but it appears to be the same game.  Sorry for your loss.

Jul 24, 2016 01:48 PM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

You are not alone in this...I had one today also

Jul 24, 2016 12:33 PM
Ambassador
1,351,445
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Why did you take the listing if you felt it was not priced correctly? 

Jul 24, 2016 12:06 PM
Rainer
4,775
Deanna Fortney
Century 21 M&M and Associates - Fairfield, CA
Specialize in first time and relocation

I have the house listed. It has been sitting for 24 days with no offer. It has been viewed, but no interest. 

Jul 24, 2016 11:59 AM
Rainmaker
806,827
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Tell them you won't take the listing at their price. You may lose it, but under the circumstances, taking an overpriced listing woud be more painful in the end. It won't sell and it will be "your fault", not theirs, in their eyes.

Jul 25, 2016 02:23 AM
Rainmaker
410,912
Brenda J. Andrew
ULTIMA REAL ESTATE - Corpus Christi, TX
Professional Realtor in Corpus Christi, TX

I had a client like this and she finally dropped me.  I was glad.  She ended up listing with another realtor and over priced the home again.  It has been sitting for 6 months and the presentation is terrible.  I think you have gotten some good advice here.  Just continue to give feedback and good customer service.  If the home is showing, then you are doing your job.  It is ultimately up to you for as long as you want to continue marketing a listing that is overpriced and won't sell.  It is your time and money being spent-and you are losing other business because of it.  I would be honest and just tell the seller the truth.  You appreciate their business and they are a great neighbor.  This is what you do fulltime and in order for you to do the job they have hired you to do you need to either reduce the price or put some type of incentive on the property - buyers agent bonus, update allowance, seller pays so much of buyers closing cost, etc.  If that doesn't work then cut them loose or refer to another agent and get a referral fee.  Good luck!

Jul 25, 2016 12:59 AM
Ambassador
2,546,124
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Walk away.   This will only get worse.

Jul 25, 2016 12:27 AM
Rainmaker
3,873,651
Richard Weeks
Dallas, TX
REALTOR®, Broker

Show them a days on market report.

Jul 24, 2016 11:07 PM
Rainmaker
2,610,913
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

They are entitled to test their belief. If not now when? When done, its your turn. Be supportive when it is their turn or else they will try another agent

Jul 24, 2016 10:58 PM
Rainmaker
3,297,332
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In this case i show them the comps so they can see the home and not just a piece of paper

Jul 24, 2016 10:55 PM
Ambassador
1,616,204
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I would kindly show them recent comps and chart showing when the price over priced will take longer to sell.

Jul 24, 2016 10:32 PM
Rainmaker
831,848
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Be patient. Not all sellers are in a big hurry. Eventually they'll decide on a course of action, and that might involve interviewing other agents. Keep marketing it. Monitor comps on similar houses that are going under contract or selling.

Jul 24, 2016 09:07 PM
Ambassador
2,224,067
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Have you suggested they have an appraisal done? It sounds like you might be wasting your time. 

Jul 31, 2016 10:33 AM
Rainmaker
1,384,363
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Take them to their competitors and show them the houses in their price range to help them see why their home isn't selling.

Jul 25, 2016 10:35 PM
Rainer
36,630
Cynthia Biechler
Biechler Grp Real Estate w/HOMESMART Connect - Chicago - Chicago, IL

You could suggest getting an appraisal or maybe stage the property. But, sometimes when they don't listen..it's best to walk away. Trust your instincts..will this be productive? I will walk away from overpriced listings...like $20,000 - $50,000 more than comps show.

Jul 25, 2016 10:53 AM
Ambassador
3,299,364
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Take them out and show them homes that are priced where you want them to be and maybe that will get their attention.  Often times sellers have a hard time imagining their competition and need to see it in person.

Jul 25, 2016 09:40 AM
Ambassador
3,722,232
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

A former colleague used to tell them that Mr. Market spoke, and they needed to listen.  And Mr. Market was not always talking price.  It was often property condition, unwieldy showing  instructions, and other challenges not related to the list price.  You need to include all of the factors in your conversation.

Jul 25, 2016 08:53 AM
Rainmaker
634,272
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

You aren't missing anything, Deanna. You can drop the listing or keep it, knowing it may take a year or more to sell. Sometimes getting nothing but low offers eventually convinces sellers they need to drop the price.

Jul 25, 2016 08:33 AM
Rainmaker
1,361,958
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

There is no cure for stubborn, Deanna.  If a seller won't listen to reason backed by facts and logic and you are tired of spinning your wheels, I'd let them have their listing back.

Jul 25, 2016 05:17 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

It sounds like it may be time to move on.

Jul 25, 2016 03:56 AM
Rainmaker
280,449
Jeanne Gregory
RE/MAX Southwest - Sugar Land, TX
The most important home I sell is YOURS!

Sit down over a cup of coffee and tell her that the price is just too high.  Since she is your neighbor and I'm assuming you want to maintain some type of friendly relationship with her, suggest she call some other realtors to interview.  Agree that when she chooses one, you will be glad to relinquish the listing.  If she meets with consummate professionals, they will honestly tell her that she is listed too high. If she interviews with someone who is just trying to buy the listing, you'll just have to look at his/her sign for a year or so.  Life is too short for this stress.

Jul 25, 2016 03:31 AM
Rainmaker
3,958,595
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

You are missing a motivated seller.  

Jul 25, 2016 02:48 AM
Ambassador
3,001,727
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

The data supports the facts. The market is not listening to the seller.  Seller lacks true motivation. I have yet to find a way to convince stubborn.  I lean on the side of cutting my losses and moving on - fire them and focus my energy on more productive things. 

Jul 25, 2016 01:29 AM