I don't like to overprice b/c it is a waste of my time and the seller is just going to get aggravated.  If they insist on listing at an unrealistic price then I advise, advise, advise them of the consequences.  If the continue to move forward and I agree to take the listing then I would just advertise in in an honest light.  I would definitely pray it had a few wonderful qualities and then elaborate those features.

$150K over what the comps showed on the home you went in is just ridiculous.  Can it even appraise that high over what the other homes in the area re going for???  Why would the LA even think that was possible???  Then putting priced to sell is just q joke I would think.

Waste of the agents and the owner's time.  If the agent got the listing exaggerating the price then they will be replaced soon enough.  I have lost listings over not giving some BS price.  Needless to say so did that agent I lost out to.  When they could not deliver they were replaced by the next idiot who claimed they could achieve an unrealistic goal.

Scott should read this post.  You see that the world is not logical.  Its a waste of time and effort to look for logic in a world that runs on emotion.  Just use your buyer's emotional reaction to this home to sell them a different one.

I always show them 1 or 2 properties that are listed above their price range and lower than their price range. I agree with Mark to show them that property anyway. Let them give you feedback on the properties they visited.

But to answer your question, emphasize upgrades, unique features, take photos that make the house grand, hold Open House to get potential buyers since it may be difficult to sell!

Hope that helps

Sagine

'Priced to sell' is one of my favorites. So is 'Hurry, won't last long!' Especially when it's been on the market longer than anything else. Didn't someone post a month or two back about the various expressions that made a house linger on the market? 'Motivated seller' was another, I think. I try to avoid overpricing, but if the seller insists, like Sagine says, emphasize why it might be worth more. Upgrades, special features, extra-nice photos. Most likely, though, it'll just sit. And sit. And sit...

There is one particular neighborhood here that I follow very closely as my family and I would like to buy there.  It has MAJOR price discrepancies.  For example, right now 4 similar homes are on the market for $998,900, $1,050,000, $1,375,000 and one range-priced at $1,399,900-$1,400,500.  We went into the highest priced one expecting every upgrade imaginable and guess what?  Only very minimal improvements had been done!  Original kitchen cabinets, granite TILE counters, not even slab, old tile, old wallpaper, outdated carpet in a not popular color...  I've seen overpriced homes before but this one took the cake.

I know everyone thinks their home is special.  We overlook the little faults.  But come on- what would make someone think that their home is worth almost $400,000 more?  

My favorite is "Motivated Seller."

Uh, OK.  So other sellers aren't really motivated?  As far as "Priced to sell,"  like the old Yellow Page ad - "Let Your Fingers Do the Walking"... let your list price speak for you.  Buyers will know if you're motivated or not.

Steven, I would like to think that all those new agents out there and all those lazy agents out there are doing buying CMA's for their buyers... but I don't think they are.  Sometimes you have to "connect the dots" for the.  thus, sometimes Priced To Sell... maybe  just what the dr. ordered!!  : )  

Gloria I hope you have a listing in that neighborhood because that house will help sell yours!  I like the let's make a deal.  Maybe I should try that on our property (but we are the lowest).

Gloria,

When I see those phrases I think the same thing as when I see other 'marketing phrases'... they don't mean much and they are way over-used.

The fact is, if a seller isn't 'motivated' then why is he even 'selling' to begin with?  Does anyone who reads the news really think this is the time to just put a house on the market at an inflated price to see what might happen?  Hey, I might get lucky and find a poor, uninformed buyer with an equally uninformed agent who will pay me 20% more than my home is worth! - Yeah, that's the ticket and then, with my fantastic luck, I'll also get an appraisor who doesn't know the market either and he'll give me the appraisal I need.

LOL... of course, I'm being sarcastic to try and bring a little humor into what seems to be a very transparent situation.

As someone else mentioned, the price will speak for itself.  If comparable homes are listed and selling at about $150/SF and this listing is at $140/SF (all other things being equal, of course) then there is absolutely no need to add the phrase "Motivated Seller".

On the flip side, if this one is at $155/SF then all the "Motivated Seller" hype in the world will mean nothing and any savvy agent will see right past it.

Studies have been done that prove that providing factual info in a positive manner is the most effective means of getting the listing noticed... and that is the first step toward getting it sold.