The Elephant in the Room: Five Tips for Working with Unrealistic Sellers

By Joe Sesso, Real Estate Agent and National Speaker for Homes.com

There’s nothing more frustrating as an agent than putting a lot of time, research and effort into a listing, only to have the seller insist on overpricing the home.

Before you can get a seller to agree to a realistic selling price, you have to understand why they insist on overpricing their home in the first place. Try to see this process of selling their home, their largest financial asset, as they do. To do this, you need to establish trust and confidence, set good boundaries, understand their fears, and show them the reality of the market. Here are five tips to help you handle the “elephant in the room” and work through these tricky situations.

1. Understand where they’re coming from
Selling a house is easy. Selling a home is hard. Homes are where memories are made, where families grew up, and where emotional, difficult, irreplaceably precious things happen. Sellers who overprice their homes are usually including the emotional value of the property to the appraised, physical value. When you understand this, you can begin to separate the emotional value from the physical value and help your clients do the same.