Do I Want This Listing?
Hypothetical situation, of course.
I get a phone call.
Seller wants me to sell their house. They owe $X, and want to put it on the market for $X + 20%. Their reasoning is that they'll negotiate down a little, but they'll ultimately be able to "get out from underneath" the house.
After running the comps, $X is about 30% HIGHER than where the property should be!
- Take the listing and "hope?"
- Explain the situation and see what happens?
- Talk about what a "short sale" is?
- Turn down the listing altogether?
I know the answer, do you? Let me know what you think!