Think Twice Before Jumping Into an Overpriced Listing

Espresso Agent > Blog > Real Estate Lead Generation > Think Twice Before Jumping Into an Overpriced Listing
Woman standing in front of house

Let’s set the stage with regard to an overpriced listing. You’re meeting with a client preparing to list their home. You go over the comps, but the client insists on a higher listing price than you are comfortable with.

All your training is telling you to stick to your scripts. Years in the real estate profession have taught you that you are the expert and you’ve done the market research to know what will sell.

But. The devil in your ear tells you, “Psst. You can sell that house and you can get a BIG commission. Take the listing.” What can go wrong?

As a matter of fact, a lot can go wrong. Let’s review why you shouldn’t be tempted into taking that overpriced listing.

Overpriced Listings

  • Emotion doesn’t matter. The sellers may feel strongly about the sweat equity they put into their immaculate green lawn, but buyers won’t know or care about that. So, if the seller is intent upon pricing their home at what they feel like it’s worth, it’s imperative you stick to measurable factors that sell a home, like square footage and neighborhood comps.
  • The property can go stale. Some sellers may feel it’s okay to price high if they are in no hurry to sell: They can wait as long as it takes to get the price they want. However, we know that’s a faulty assumption. An overpriced house is likely to sit on the market, raising questions with potential buyers about what might be wrong with it. Once that cycle starts, you and the seller are likely to end with lower offers than you’d get if the house had been priced correctly to begin with.
  • Negotiate no matter the offer. A lowball offer shouldn’t be a surprise but be prepared for some sellers to be insulted and insist you don’t negotiate. Everyone has different styles of negotiation and you should at the least explore conversations about a deal with the buyer’s agent. Stranger things have happened that solid deals emerging from shaky starts.
  • Don’t assume you’ll get referrals. You might take that overpriced listing thinking it will result in a happy client and lots of referrals, but given what we know about overpricing, the client may not end up being so satisfied with the final sale price. And, if that happens, not only can you kiss referrals goodbye, but you may have the seller proactively giving negative commentary about your professional abilities.

The best advice we can give you is to not let yourself be tempted by dollar signs and that little devil on your shoulder. Trust your training, go back to your scripts on handling objections and be willing to bounce the problem off your colleagues. Bottom line: No good comes from unrealistic pricing, no matter the market.

Doug Spak joined Espresso Agent as a Content Marketing Specialist in 2016. Doug brings nearly four decades of experience as a copywriter, blogger, and screenwriter to his role with Espresso. Since joining our team, Doug has actively updated website content, published more than 300 blogs, and created countless social media posts.

Ready to Get Started?

Share the Secrets

Still Have Questions Or Interested In Learning More? Contact Us Today

"*" indicates required fields

Name*
By continuing I give express permission to Symphony Source, LLC/Espresso Agent to call, email, or text me. We keep your personal information safe.
This field is for validation purposes and should be left unchanged.

RECOMMENED ARTICLES

for rent by owner sign

The Complete Guide to Mastering FRBO Leads

By Doug Spak | December 3, 2024

INTRODUCTION FRBO leads can drive your revenue FRBO stands for…

Read More
Writing an Effective Expired Listing Letter

Writing an Effective Expired Listing Letter

By Doug Spak | November 21, 2024

INTRODUCTION Understanding the mindset of an expired listing prospect Experienced…

Read More

Understanding the Opportunities and Challenges of FSBO Leads

By Doug Spak | November 12, 2024

INTRODUCTION Working with FSBOs. Many top-producing agents include For Sale by…

Read More
Espresso Agent > Blog > Real Estate Lead Generation > Think Twice Before Jumping Into an Overpriced Listing

Real Estate Leads                            CRM                               Blog
Expired Listing Leads                     Dialer                             Why Choose Us
FSBO Leads                                      Video Email                  Today's Brew
FRBO Leads                                      Become An Affiliate    Pricing
Real Estate Farming                                                               Login
Pre-forclosure Leads

195 W Main Street American Fork, UT 84003