Debbie... if the seller is willing to write in automatic reductions to the asking price on a schedule into the listing agreement, I would.

Debbie,

There are so many pros and cons on this one.  Bottom line is that you have to feel good about it.  And if someone else gets the listing, so what!  You can get many more that will actually get a showing and you sell it rather than having a listing and hoping they will come to their senses.  A

Yes Debbie, I would say to to the seller in this situation that we try it your way for a set time (2 to 4 weeks) and then if there are not many 2nd showings and or comments regarding the price then a price reduction will take place.

No, but after they list with a competitor, and it expires; then it's time to re-approach them to see if they have wised-up to reality.

 Good morning Debbie. The market certainly will dictate what the seller will get. Expect a hard negotiation process.

I'd be inclined to say no if the seller's price is that far off? But perhaps a written agreement to reduce the price in 3 - 4 weeks if there is no offer? I sure wouldn't want to spend money on marketing this overpriced listing.

I would take it.  I tell my sellers let's see what happens in 3 weeks if we don't action or good feedback we'll go my way and do a price drop. 

 We would not...someone will !

I ould not take the listing.  It would be a waste of time and energy marketing a property overpriced by this much.  An overpriced farm in my area had been listed with numerous different agents at different agencies.  The Seller did interview me a couple of times, but I walked away from it because it was over market value.  Finally the Seller contacted me a third time and he had come down in the asking price.  Still slightly overpriced, but workable.  Guess what, after 5 years on the market, this time it sold.  

Probably not, but if I did only on the condition of automatic price drops that would bring the price down to reasonable in one month on market.

No I wouldn't.  If they wanted lets say 10% over market that is one thing. Anything higher I would walk away. 

And yet one more reason why I have never taken a listing, not ever. I deal exclusively with buyers. 19 years now. Sellers almost always seem to have the "best" house to sell, even in a pure cookie cutter neighborhood.

Debbie - I know every home seller always feels that they have the most expensive home in the neighborhood, but I would certainly ask why, after I provided comps, the owners still wanted to list their home 20-25% higher than your CMA range? I would also have a very honest discussion about whether they really want to sell. I also like Evelyn's approach regarding a price reduction. You will need to get that agreement in advance, or the home will never sell.

Someone will list the home even overpriced.  Perhaps you can get them to sign something showing what you recommended and where they wanted to list it.  Then when it doesn't go anywhere you can show them where you suggested and get a price reduction.

If you don't someone else will, but I would ask him how long he thinks it will take to get an offer.  Then I would get the price reductions at the listing appointment so when it doesn't happen you don't have to have the discussion again.

Debbie Reynolds No, I don't believe I would. Over priced listings don't seem to sell in any market.

Hopefully, the seller will listen to reason and agree to a lower list price. I think it would depend on the listing itself  and the cooperation of the seller whether I would take it.  

If I feel that he will come around, yes.  If not, no.

Sure but let them be aware that within a few weeks you will be beating them up for a decrease, then do it.

Hi Debbie - there would have to be some  pretty overwhelmingly positive factors why I would choose to "buy" into this concept.   20-25% over your recommendation seems to represent a very different sense of reality that makes me wonder about representing them.    

Is there something else going on here?

No. I tell my sellers I do not take pretend listings. I sell for real. It only hurts you to have a sign up for a year The neighbors see you as a agent who cannot sell

I like Nina's suggestion - though tempting to take in any case, the seller may view your acceptance as "buy in" to their inflated pricing view.  And then it can be pure heart ache trying to change the course and get the job done.

I would probably do it with the understanding that there is a reduction after 2 weeks of less than standard activity.  

I have done it and will not do so anymore. Sellers never agree for price reduction and then when it expires list with another agnet .It is better to be the next agent.

Only if they agree in writing that if they have no showings or offers within the first 21 days, a price drop will then be done.