JUST SAY NO

If sellers refuse to budge on a too-high asking price or won’t make necessary improvements, many real estate brokers now urge agents to turn down the listing. The decision to accept a listing must be viewed as a business decision, according to Libertyville, Ill.-based broker Mike Stodola of Koenig & Strey GMAC. “We have to look at properties and values and be very honest with sellers,” he says. “If they have a higher [price] in mind, we wish them luck. We’ve had to make the decision to walk away.” Even though the housing slump means agents need new business, experts point out that certain listings will cost them too much time and money. “When you’re doing [mailings, advertising, open houses] on a weekly basis and homes are sitting there for six, nine, 12 months, the costs skyrocket,” says Stodola.

Source: Hartford Courant (CT) (11/30/08) Umberger, Mary
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