The Seller That Wants Full Price - And Why I'm Not Firing Him

I've had a seller for quite some time that finally got an offer on his Lockport townhouse for sale.  The original offer was within $10,000 of his new, lower list price.  Not bad in today's market.  But I couldn't get him to budge from his asking price.

After much chiding from the buyer's agent, I kept my cool and told him that my seller feels he can get full price, maybe not today, but soon.  The agent came back with an offer only $5,000 off list price.  My seller would still not budge.

My seller used to be a real estate agent

I have dealt with many ex-agents over the years and they know enough to be dangerous.  When I requested him to initial the area on the contract that states he was rejecting the offer, he got angry and told me that isn't necessary.  He reminded me that he used to sell real estate and all I had to do was put a big X on the front page and write in NULL & VOID.  I reminded him that he has never used this updated contract and that the rules have changed.  He backed down and complied.  I've had to remind him of a few things like that.

I was ready to tell the selling agent to go jump in a lake

He was telling me how to do my job.  Does he think I didn't try to get my seller to budge?  Oh, I tried.  But this seller is just not truly motivated - right now.  You see, he's stuck here until June.  He admitted to me that when June gets closer he might be willing to take less.  But for now, he's not ready.  And that's how it goes! 

If I was on the other side of the coin I might act surprised if a seller wouldn't budge from full price, but I also realize that a seller can do whatever they want.  It's not my house, it's not the other agent's house and it's not the buyer's house.  If the buyer will not pay full price then they need to go find something else.

I'm let down, but I will not fire this seller

His townhouse is the lowest 3 bedroom townhouse in the subdivision.  We've had much more activity lately and some second showings.  And hey, we got an offer, so the price is certainly in the right range.

He admitted that he will reconsider as he gets closer to the date he needs to leave.  And we're getting closer every day.  Yes, he runs the risk that he will need to reduce price again and might not even get as much as this offer.  But that's a risk he's obviously ready to take.  I spelled it out for him and this was his choice. 

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