Curious if others are running into this more lately.
I’ve been seeing an uptick in clients who want to list significantly above what comps support. Not just a little optimistic pricing, but well beyond anything the market is indicating. When I walk them through comps, days on market, and recent price drops, they seem visibly frustrated or dismissive of the data.
It also seems to skew toward an older crowd in my experience. There’s a strong attachment to what they think the home is worth based on past appreciation, rather than current conditions.
Are others seeing this trend? How are you handling those conversations without losing the listing?
Anyone else seeing more sellers want to list way above market?
byu/myturn19 inRealEstate
Posted by myturn19
5 Comments
It’s market dependent. If you have a nice home, it becomes who blinks first in the Spring. If a seller can wait 60-90 days, then they’ll have the initial advantage as many families are forced to buy what’s available.
Now, what they show pending for online and what they sell for are two different things.
Been in the business about 30 years. Both as an appraiser and as a broker.
I’ve found when Sellers want to list WAY above market value, they’re not serious sellers. They are time wasters.
This in when a REALTOR should get a fee for listing the property. It’ll never happen…….but it should. Otherwise they are wasting our time.
I respectfully disagree. I live in a 55+ community. Some folks are ridiculous about selling their homes and refuse to be realistic. Others do their homework, talk to their Realtor, and find a good price. Some of those older folks need money for assisted living and insist on a certain price. I feel bad for them. What the house is worth and what they need aren’t even remotely close. It’s sad.
Where I am at the market is very active but the prices are also reasonable. Well priced homes are selling within a week or two. Over priced ones sit and under priced ones are gobbled up within a day. And I am very happy with that because I have one listing tomorrow and the housing market scares me. I need to get this thing sold fast.
Are you in a high cost area? If so then it’s understandable. I would expect similar properties to keep going up in value in the next few months, why shouldn’t I be the first one to get to that price range?
If you don’t like it don’t take the listing. Also don’t lecture me about comps and days in the market, they mean absolutely nothing in a low inventory, high demand market. If your market is not a low inventory then yes have that conversation, otherwise comps mean shit. In a low inventory market someone will always buy over appraised value. Do you want the listing or not? If you want the listing don’t try to sway me, don’t give me suggestions, don’t give me opinions, you are lucky to get this. If it priced too high we will find out soon enough and we can reconsider then .