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Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

I don't do overpriced - but I hear - it's getting a price reduction - either that or losing the listing! Is that a benefit?

Jun 05, 2016 10:55 PM
Rainer
231,224
Mike Rock
Complete Design - Granite Bay, CA
Granite Bay Luxury New Construction...For Less

Good afternoon, this is Tony, yes my listing on line? Yes thats mine...Yes, i agree it is a bit overpriced, i would love to show you one have that is 200 sq feet larger and 20,000 less. Yes, i am avail this afternoon. ok..see you at my office. Thank you for originally calling on my over priced listing that the seller is an idiot and greedy.

Jun 05, 2016 06:12 AM
Ambassador
2,684,009
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Some agents want the sign call.  They can show something else. 

Jun 05, 2016 02:58 AM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I've seen listings - especially lately - that everyone, myself included, thought were idiotically overpriced.  And they sold, and more than once it was overlist price.  So sometimes we get it wrong.

Jun 05, 2016 01:35 AM
Rainmaker
2,220,323
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

None, why would you take an overprice listing?

Jun 05, 2016 01:07 AM
Rainmaker
1,052,156
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

There really aren't any. The people take them anyway because it'll make the seller happy for a minute, it'll hopefully get them calls they can use to generate leads for other properties, and it gets their signs out in town.

Jun 05, 2016 12:47 AM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

black hole

Jun 25, 2017 07:05 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No benefit.

Jun 05, 2016 10:44 PM
Rainmaker
4,571,917
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Some might think that it will generate leads.   

Jun 05, 2016 09:41 PM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

They get the privledge to pay for ads on a house that may never sell at that price. They get the privledge to be yelled at by the seller whose house has not sold. 

Jun 05, 2016 09:34 PM
Rainmaker
7,835,323
Roy Kelley
Retired - Gaithersburg, MD

If you have found benefits, you should blog about them.

Jun 05, 2016 08:59 PM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

If it's high but not absurd you'll get some interest and at least get inquiries that may lead to other sales.

Jun 05, 2016 06:21 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tony and Suzanne Marriott, Associate Brokers - it's all about market share at a given time.

The calls may be generated because of such listings that may help some agents who are on floor time.

The agents can still keep the relationships with these sellers - and may get referrals.

Jun 05, 2016 03:29 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Depends on the property it could bring in extra calls

Jun 05, 2016 03:12 PM
Rainmaker
2,362,595
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

hopefully it makes the phone ring - at least I think that is the idea - but in fact it gives the company/agent a bad name

Jun 05, 2016 11:43 AM
Rainmaker
1,543,345
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

You get to know the home owner really, really well? I'm just guessing, since I price'em right...

Jun 05, 2016 11:24 AM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Listing agent wanting a sign in the yard & phone calls.

Jun 05, 2016 11:15 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

The benefit is getting calls and being able to convert the lead to a client and maybe if they are interested enough in the listed property the seller may come down in price. However an overprised listing a frustration to the listing agent and other agents realize this agent prices high. It could affect other business.

Jun 05, 2016 09:20 AM
Rainmaker
469,510
Dan & Laurie Pittsenbarger Team
Keller Williams Western Realty - Bellingham, WA
Lakeside & Coastal Single Family Homes

Benefits - escpecially in an appreciating market - it may sell out right and the listing agent looks great. If it doesn't sell and you're in good communication with the seller they may agree to price reductions so you will be the listing agent when it does sell. And of course there are sign/ad calls that may turn into buyer leads regardless if the primary home sells.  And those "potential" benefits should be weighed against the "potential" cons. For me it comes down to how over priced the listing is and what my read on the seller is.

Jun 05, 2016 09:13 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

In the eye of the beholder.

Jun 05, 2016 07:15 AM
Rainmaker
911,228
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

None really. Eventually people will get sick of seeing the sign and just ignore it.

Jun 05, 2016 06:24 AM
Rainmaker
613,494
Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

Based on making offers on property that has no basis for the high price, I think there are 3 reasons that listing agent overprice to get a listing:

1.  They want the sign call to bait and switch the buyer.

2.  They want signs in the neighboorhood which help get more listings.

3.  They want to look like a top producer in their office.

Eve

Jun 05, 2016 06:09 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I think you asked this question twice.  I answered the other one.

Jun 05, 2016 06:04 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

It depends upon their objectives. 

Jun 05, 2016 05:50 AM
Ambassador
2,160,948
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

For a moment I thought you had moved to Utah!  :-)  Sometimes agents take listings just to have something to advertise. 

Jun 05, 2016 04:47 AM
Rainmaker
1,502,888
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sign calls, buyer up calls.

Jun 05, 2016 04:41 AM
Rainmaker
823,579
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

1) It might sell.

2) The phone rings.

3) Open Houses to meet new clients.

I have seen homes sell to the clients who really want what the homes offer without regard to the price.

Jun 05, 2016 04:41 AM
Rainmaker
5,216,337
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Not many, if any! Perhaps in a heated market with rapid appreciation and a seller who will reduce the price quickly if there is little activity!  

Jun 05, 2016 04:37 AM
Rainmaker
1,771,867
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

All I can think of is a yard sign.

Jun 05, 2016 04:05 AM
Rainmaker
1,844,171
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

This is where there is always a disagreement with some in my office who say it's better to have an overpriced listing than none at all.

I say b-o-l-o-g-n-a (you can sing that).  Waste alot of time & effort for no results. If the market speaks after 30 days with no contract, your in the whole both time & money. Why don't agents realize that?

Jun 05, 2016 03:22 AM
Rainmaker
797,457
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

I was going to say none but an Agent in town takes them to get customers for other listings.

Jun 05, 2016 02:56 AM
Rainmaker
2,781,113
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

It can be the beginning of a rewarding experience in many ways

Jun 05, 2016 02:42 AM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tony and Suzanne Marriott, Associate Brokers There are no benefits. Maybe there is one. The broker can brag about how many listings they have that will not sell.

Jun 05, 2016 02:36 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

there are NO benefits, if the listing agent is providing the marketing that every listing warrants....

Jun 05, 2016 02:14 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Thanks for asking Tony and Suzanne Marriott, Associate Brokers Love the A's you received.

Jun 05, 2016 01:46 AM
Ambassador
2,178,533
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Exposure and the opportunity for potential leads to something else.  That said, IMHO,  it is not a wise investment of time or money to purposely take overpriced listings.


Jun 05, 2016 01:23 AM
Rainmaker
5,005,333
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

None..it is not interest of the seller or you to list an home overpriced. Wasted time and money and you as the agent earn the reputation for not selling your listings because you can't price them correctly.

Jun 05, 2016 01:22 AM
Rainmaker
1,683,912
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

The benefit of a isting Broker/Agent is being able to talk to the Seller face to face to convince them why the price needs to be lowered.

Jun 05, 2016 01:05 AM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

To have there name on a sign and hopefully everyone blames the brokerage not the listing agent!

Jun 05, 2016 01:00 AM
Ambassador
6,392,919
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

More money or No money.

Jul 15, 2017 10:40 PM