tag:blogger.com,1999:blog-4797432599663441966.post-544102083410812972008-02-13T22:13:00.000-05:002008-02-13T22:13:00.000-05:00Frank, you are SO right! In this market you cannot overprice. Otherwise it sits, and then you have to drop the price, followed by lowball offers. Sellers only have the power in the first 2-3 weeks when current buyers in the market view the property. After that you are waiting on new buyers to enter the market. <BR/><BR/>I turned down a listing whose Seller wanted to list at $720k when others were selling for $660k. He listed with an Agent that agreed to that price. The next month I had a buyer who purchased the exact model across the street; I negotiated down to $630k. After several price drops totalling $50k and 175 days on the market, that other Seller withdrew his listing. Whew, glad I turned that one down. <BR/><BR/>I also declined a $1.5M listing. I told him how overpriced it was and he chose another agent. It still hasn't sold almost 200+ days later. But he did choose me for his next investment property, and I got 3 contracts in the first weekend (staging was a big factor too). I'm working on his next listing now. :-)<BR/><BR/>Sellers will NET less if they overprice too much. Another great blog Frank.Meganhttp://www.blogger.com/profile/15755099829181686929noreply@blogger.com