I interviewed for a Listing about six weeks ago. I presented very well but, the Sellers chose a less experienced agent because their suggested sales price was $31,000 higher than my suggested list price. To further complicate this issue, in this submarket, the prices are dropping.
For the last six weeks I have been watching this Seller and Listing Agent. They did shoot themselves in the foot but, so far they have dropped their price $44,000 and the property continues to sit.
It is still the most expensive property on the market and the Listing Agent is working super hard but, this listing is just helping to sell all of the cheaper listings around it.
My guess, at this point, is that this listing will expire, the Seller will chose another agent to sell it - probably me - and I think that the final sales price will be about $25,000 less than my initial suggested sales price.
I've seen this issue many times over the years. I'm still working on a way to overcome this issue in my listing presentation but, in the meantime, it makes me crazy watching this Seller shoot himself in the foot.
