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Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.)

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Rainmaker
809,258
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

One he forgot is "I want to have room to negotiate." -Kasey

May 23, 2017 10:45 AM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jeff,

I have asked this question on the luxury end, and there are many homes that are overpriced.  Sometimes this strategy works, because an offer can come in that is higher than the CMA.  With luxury on the ultra high end, it can happen.  Also on the luxury end, they don't have to sell or buy.  There is no financial urgency either way.  My advice would be to price it right, but again, one is bucking a current that has proof.  A

May 23, 2017 11:33 AM
Ambassador
2,178,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Those are all ridiculous reasons... and often used!

May 23, 2017 10:27 AM
Rainmaker
7,836,139
Roy Kelley
Retired - Gaithersburg, MD

There will never be a shortage of unrealistic home sellers. You do not want them as clients.

May 23, 2017 11:01 AM
Rainmaker
2,220,654
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Poor reasons

May 23, 2017 08:21 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

NONE but most often i hear "i want to try to it to see if i can get it" in 2-4 weeks it is at where it is suppose to be

May 23, 2017 01:04 PM
Rainmaker
1,249,513
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Those are all good ones - and we've heard them repeatedly (along with needing "wiggle room."
In my opinion, there is no good reason to overprice a home.  The chance of getting lucky is so low compared to the very high probability that it will sit on the market for a long time.

May 23, 2017 12:37 PM
Rainmaker
2,817,671
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

The #1 reason...you don't really want to sell it.

May 23, 2017 11:04 AM
Rainmaker
5,216,409
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not that I can think of if your mission is to sell!!

May 23, 2017 10:23 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Any good reasons to overprice a home?

Define overpriced?

Now, define underpriced?

My thoughts? It is REALLY hard to raise the price.

 

 

May 23, 2017 10:22 AM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Brokers in my area teach "he/she with the most listings wins.  Take the listing even if it is overpriced and work out the pricing later".

I completely disagree with them, but they do get the listings - they just don't sell them LOL

May 24, 2017 06:45 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Yes, If I were in the middle of a divorce and lived in the home and didn't want to move.  

May 24, 2017 05:43 AM
Rainmaker
599,274
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I prefer to price homes to sell rather than leaving them sit on the market.

May 24, 2017 05:37 AM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

You're unprofessional? That would be a good reason I suppose.

Otherwise no, no good reasons to over price a listing...thanks FOR THE LINK.

May 24, 2017 04:06 AM
Ambassador
3,587,960
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

I've heard them all Jeff, many times and it almost never works out well for the sellers - or the agent.

May 23, 2017 05:24 PM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

No, there are no good reasons.

May 23, 2017 03:30 PM
Ambassador
6,393,494
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Nothing ventured, nothing gained, sometimes they sell for ridiculous prices.

Depends on how much you want to actually sell, and how much you want to waste time and give useless tours.

May 23, 2017 02:56 PM
Rainmaker
1,196,798
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

No, we are market sellers not market makers

May 23, 2017 02:50 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Jeff, that's an excellent group of ridiculous reasons. The only viable reason is when you have all the time in the World. The market eventually catches up if you're lucky enough to survive it. That being said, know that once your market time exceeds the local average current potential Buyers will probably view the home as tainted and likely discount any offer even further subsequently  negating this strategy.

May 23, 2017 01:02 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jeff Dowler I've heard these often.

May 23, 2017 11:08 AM
Rainmaker
851,242
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

There's never a good reason to overprice a home but I liked the author's approach here --- got our attention and better yet, he noted (more than once!) that an agent can be a very valuable resource.

May 23, 2017 10:59 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I've actually heard sellers use these as reasons to overprice... hopefully the author did mean this to be tongue-in-cheek.

May 23, 2017 10:36 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

All things should be explored to ones satisfaction. That said, there are many ways to go about this. Whats important is the end results...

May 23, 2017 10:04 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Yes, if the prices are skyrocketing and all sold comps are still low. Also if the house is unique, or over sized, or have an incredible view but no recent comps that fits that criteria, etc. 

Oct 29, 2017 12:49 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not worth my time and it is bad advertsing for yourself to have a home sitting on the market a long time without selling.

Jun 22, 2017 02:05 PM
Rainmaker
2,194,668
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

I suppose if you're a narcissistic attention grabber who is lonely and enjoys the sadism when somebody knocks on your door and then stomps off in a huff.

May 26, 2017 05:40 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you.

May 26, 2017 03:31 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Only if you don't want it to sell!

May 24, 2017 10:49 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Roy Kelley nailed this one!

May 24, 2017 08:04 AM
Ambassador
5,230,102
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Oh, Kasey & John Boles nailed the most common reason that I hear for over-pricing as well!  "We need some room to negotiate!"  OH NO YOU DON'T!!

Sellers hire me for my negitiating skills and my marketing. We need an Offer for me to be able to negotiate for them and if we're over-priced, we're not going to get that Offer!!

May 24, 2017 07:45 AM
Rainmaker
1,725,996
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

If a very unique home where no adequate comps are available then , Yes; but within a practical range and open to lower offers.

May 24, 2017 06:57 AM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jeff Dowler - all of them makes no dollar and no sense!

(And still, many agents do overprice the listings! I have done it, too....)

May 23, 2017 09:52 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Over price it like the seller wants to show that they are wrong

May 23, 2017 08:21 PM
Rainmaker
4,936,705
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Yes,  If you really do not want to move.

 

May 23, 2017 04:23 PM