Greg Cremia (Shore Realty of the Outer Banks)

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Rainmaker
3,054,875
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I have... and I've seen it sold at a price lower than what it could have sold at and which the seller rejected when I proposed it due to excessive time on market. The value I bring to sellers is my low days on market for my listings because I price them right, stage them right, and market them right. I don't want my "batting average" lowered by a listing that I know up front will sit on the market because a seller isn't listening to me. I feel the same way about sellers who won't work with me to properly stage a home, be cooperative in showing it when listed, etc.  

Moreover, the relationship with sellers like this is always strained. As most of my busienss is repeat and referral from happy  clients, I prefer not to have relationships that lead nowhere in the future.

Feb 06, 2019 05:58 AM
Rainmaker
760,085
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

There will always be overpriced listings just as there will always be agents that "buy" the listing then walk the price down to where it should have been in the first place. 

Feb 06, 2019 05:31 AM
Rainmaker
3,302,032
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Walking often leads to good things.  Walking away can work in many cases too and for many reasons. As far as real estate, pricing is an opinion and it's not unusual to see differences.  Properties are listed. Properties are sold.  The way that happens can vary in a number of ways.

Feb 06, 2019 05:21 AM
Ambassador
2,672,087
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

It happens enough that I start to second guess just how accurate I should be with my pricing opinions.  It gets old watching another agent get the listing, price it high, then walk it down to sell right where I predicted.  They get paid, I don't.  And I'm not talking about grossly overpricing, but it's still overpricing.  Bill

Feb 06, 2019 06:48 AM
Rainmaker
1,526,642
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Of course. Se la vie.

Feb 06, 2019 05:58 AM
Rainmaker
3,238,560
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Yes, but I decided early to cut my losses and run. To many other opportunities.

Feb 06, 2019 05:34 AM
Ambassador
3,277,374
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Yes, typically lower than the price I originally suggested - and had they not spent so much time on the market and listed at my price, they would have gotten that price! 

Feb 06, 2019 06:55 AM
Rainmaker
405,111
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Sure. After going to some class about the dangers of taking on an over priced listing and the lesson preached was to walk away from such. I walked away from a couple. Only to see them get listed and reduced until they sold. Now,  I don't walk away based on price alone. If education fails and the must try, the "try" period has a short fuse. Most seller's even the "I want more" sellers are agreeable. They ones that aren't agreeable or reasonable are the one's I walk away from. Of course everyone scene is different - sellers motivation is different.  So, if it's price and other indicators of an unpleasant experience I"ll let someone else work really hard for 90days or more and get fired and perhaps I'll step in to be agent #2 or #3 or pass and never look back.

Feb 06, 2019 06:44 AM
Rainmaker
4,951,184
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

if it's grossly overpriced, that's an embarrassment and obvious to other agents the listing was "bought".... we don't do that.... 

Feb 06, 2019 06:38 AM
Rainmaker
1,593,695
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Sure, who hasn't who have been in the business a decade or more?

Feb 06, 2019 06:27 AM
Rainmaker
755,611
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I took an wrong-timed listing and an offer come in at exactly the value I recommended to the owner. They refused to sell.

Listing expired, re-listed and yep, it sold for the previously offered price. The time was then right.

The real issue was I was unable to convince the owner of the 'real cost' of coating the inside of the house with 30 years of nicotine.

Feb 06, 2019 05:15 AM
Rainmaker
2,972,732
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Yes and which is why i try to persuade the seller to reason, before even thinking of walking. I like to bring hard proof of values, listings in their area both for sale and sold. Showing them, not just telling them what the value is

Feb 06, 2019 05:09 AM
Rainmaker
1,053,738
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Yes I have Greg.

Feb 06, 2019 06:10 AM
Rainmaker
740,155
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, but didn't care. It took several months for sellers to switch agents 1 or 2 times and lower price to where it would sell.

Feb 06, 2019 06:17 AM
Rainmaker
2,444,920
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Almost every scenario you can imagine in Real Estate has played out. It's only "new" to the person discovering it

Feb 06, 2019 06:16 AM
Rainmaker
2,781,897
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Yes.  And they sell for the list price I recommended.  Next. 

Feb 06, 2019 01:40 PM
Rainmaker
1,008,660
Corinne Guest
Corinne Guest, REALTOR® | Barrington Realty Company - Barrington, IL
Barrington Lifestyles

ALL THE TIME. Seems they don't believe one agent but when the next one comes along they suddenly do. Fickle biz this is.

Feb 06, 2019 09:53 AM
Rainmaker
572,813
Peter Mohylsky, South Walton
PrimeSouth Properties - Santa Rosa Beach, FL
Let me help you find your path to the beach.

Yes,  90% of propeties sell within10% of list price. 

The market never rises to cover an overpriced listing

prices finally get adjusted to where the market thinks they are correctly priced  

Feb 06, 2019 09:47 AM
Rainmaker
1,229,344
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

No.  99% of the time the sellers and I come to the same conclusion about the price.  Once the seller thought it was worth more than the comps did and made a good argument for it.  I agreed to their price, with stipulations that if it didn't work they'd go to my price after X days.  Their price worked and even got bid up.

Feb 06, 2019 09:43 AM
Rainer
116,050
Christine Kankowski North SD and Temecula
House Match Inc - Poway, CA
Excellent Sales and Property Management

The house next door went through 3 agents - overpriced by 100K the first time, multiple open houses,  2nd agent dropped it a bit, but market had softened and still didn't sell.  Lots of work and open houses. 

Last agent also listed at the same price, but they got an offer $100K less and buyers accepted.   16 months and lots of agents time. I'm glad it wasn't me, but the agent who at least got someone to write up an offer (even so low) got the deal done. 

Feb 06, 2019 07:50 AM
Rainmaker
4,796,914
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Yes, it happens.

Feb 06, 2019 07:45 AM
Rainmaker
1,535,925
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We have only 'walked away' two times in our careers, but never for an over-priced listing, since we would not have taken it in the first place.

Feb 06, 2019 07:35 AM
Rainmaker
4,401,336
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

It happens, and sometimes some agents do take the OP listing, with the understanding of reducing the price in an X number of days.  A

Feb 06, 2019 07:28 AM
Ambassador
1,631,073
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Happens all the time.

Feb 06, 2019 06:50 AM
Rainmaker
754,170
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Seen it many times. Learnt to negotiate a quick price reduction if there is no traffic or no offers. Always better to have the listing than not.

Feb 06, 2019 01:53 PM
Rainmaker
995,699
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I walk away because I price homes to sell today and never at months or even years from now. Therefore if I am not given a 2nd chance all are slated to follow this path. 

Feb 06, 2019 09:41 AM
Ambassador
4,163,703
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sure, and sometimes they get that price.

Feb 06, 2019 09:34 AM
Rainmaker
1,543,231
Mike Cooper, GRI
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

More than once. I had a lady ask me to sell three houses for her a few years ago. Two were reasonably priced, but she decided to change the price the day of list. The third one was literally $300000 overpriced. I thanked her and walked away. She sold them all for the prices I gave her the first day we met. The only loss she had was the year on the market, insurance, taxes, interest and utilities. I have never liked planted my signs in a yard like flowers. 

Feb 06, 2019 09:26 AM
Rainmaker
286,512
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Quite a few times it happens to the best agents in the business all the time

Feb 06, 2019 08:10 AM
Ambassador
910,477
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Yes, I will let the next agent have it. Overprice listings are not worth the lost time and effort. 

Feb 06, 2019 04:20 PM
Rainmaker
2,754,113
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Greg Lynott yes, it did happened to me.

Feb 06, 2019 02:49 PM
Rainmaker
5,343,583
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I do not recall a specific situation.

Feb 06, 2019 09:09 AM
Rainmaker
1,084,962
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Yes...

Jun 24, 2019 06:24 PM
Rainmaker
455,644
Michael Eisenberg
eXp Realty - Bellingham, WA
Bellingham Real Estate Guy

Yes, Even had seller not wanting to list at the price I suggested only to go with another agent and that listing for $25,000 more only to have them sell 2 weeks later at the exact price I originally suggested.

Feb 11, 2019 12:57 PM
Rainmaker
4,064,440
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Yes, last summer, and they listed right away with someone else who talked them into a lower price.  

Feb 11, 2019 07:37 AM
Rainmaker
3,980,831
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes I have

Feb 08, 2019 08:28 PM
Ambassador
1,634,384
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

I think we all have.  And it's particularly irritating, when you've told the seller the property should be listed for $350,000, and sell between $325,000 and list price...  only to have them list with someone else for $500,000, and take regular price reductions for the next 18 months, finally selling for $299,000...

Feb 08, 2019 10:31 AM
Rainmaker
671,429
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I have not walked away but I have lost a potential listing because I disagreed with the owner about the value of the property. Owner questioned my savvy. Owner selected a different agent who went with the owner's price. Of course, owner was wrong about the price and the property sold for substantially less.

Feb 08, 2019 08:56 AM
Rainmaker
1,826,887
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Yes , often close to what I had predicted

Feb 07, 2019 12:44 PM
Rainmaker
1,075,400
Gary Frimann, CRS, GRI
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Yes, and I'veseen it sold for less than what i had suggested at that point in time.  I've also seen them never get sold.

Feb 06, 2019 05:28 PM
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Feb 06, 2019 05:17 PM
Rainmaker
3,137,202
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Happens alot, but I sooner be up from with sellers at the bringing and tell them what it will go for

 

Feb 06, 2019 04:53 PM