The Less Motivated Seller in Colorado Springs.

The Less Motivated Seller in Colorado Springs.

For the most part, the seller that has the lowest motivation are those that do not have a compelling reason to sell. They are just curious about the market and the price they may be able to get for their home.

My experience with the less motivated seller is that they will price the home above my recommended price, so they can “get the most for their home” or “have negotiating room.” The problem with this strategy is that the buyer and the buyer’s agent are familiar with the market values for properties in the neighborhood and when they see a seller priced well above the market, they won’t schedule a showing, or they don’t even see it in the property in the MLS because the home is priced above market value for the neighborhood.

Another problems with these sellers is when they do agree to a price reduction, it is often not enough to get them into the game. In our industry, we call it "chasing the market down." With small incremental price reductions late in the game, the price of the home is always above market value. When the home is finally priced within market value, the days on market are high, leading the buyer to think there is something wrong with the property.

I have learned the hard way to turn down listings for sellers that are not motivated to sell primarily because my goal is to sell their house. If we can’t come to an agreement on the list price, then there is no point in marketing a home I can’t sell. In my opinion, the only reason an agent would agree to list an over priced listing is to generate buyer calls from the sign.

So, watch out for the agents that want to price your home without justifing their recommended price with recent comparable sold properties. Without this justification, they may cost you valuable time in this buyers market, while generating buyers for them to sell other homes to.