Recently, I received a referral call from a fellow agent on the other side of town.
He wanted me to contact a potential listing lead in a retirement community in my marketing area. "Mrs. Stubborn" (the name has been changed to reflect her true identity) said she was "serious about moving to Tucson". She and her husband had recently placed a refundable deposit on a house in that town. She wanted me to see their property as soon as possible.
When the MLS data showed that the property had recently expired, I called the seller to ask some qualifying questions. Mr. S. answered the phone and said his wife was the decision maker, but she was at the grocery store. "Why do you feel the property didn't sell?" I asked. He replied it was probably priced too high, but his wife was "A stubborn Dutchman and a former real estate agent. She'll be home in an hour, call her then," he said.
Mrs. S. made it perfectly clear, "They didn't have to sell, and were not going to give their home away". That was the first time I heard that expression... that day. Of course, the home should command a premium price due to the numerous upgrades that were used to camouflage the functional obsolescence in their property that was built in 1974.
"What do you feel your property is worth?" I asked Mrs. S. She was unsure. She was also perplexed why none of the numerous buyers that viewed the property during the prior listing period did not render an offer. She quickly became defensive when I suggested that improper pricing was the culprit. She then canceled my 2:00 P.M. listing appointment.
In a buyer's market with elevated inventories, it is better to turn a listing down today, then let a seller down tomorrow. It is better to have fewer properly priced listings, then a bevy of overpriced problems. It's better to enjoy your spare time, than waste your life dealing with stubborn sellers.
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Paul Pastore, ABR,CRS,CRB,G.R.I.,MRE,e-pro,RECS, is with ReMax Achievers in Chandler Arizona. He has been serving the East Valley area of Phoenix since 1977. Paul can be reached at 480.603.3800.