A few years ago, there was a local sale that stunned one of the communities I work. The amount that was offered on this humble abode was nothing short of stupid. I mean stupid as in high. Shortly thereafter, I received a call from a neighbour who wanted to jump on the bandwagon and put their house up for sale in the hopes of getting a stupid price.
I spoke often with them throughout the week and did my best to discourage them from using that as the reason to sell. They were going to be selling within a couple of years but (a) they weren't ready and (b) they had no other home to move to. It looked to me like it was greed at play here.
However, I am in the service industry and they wanted me to try to sell their house so that's exactly what I did.
I didn't hold anything back. I worked it hard and spent a small fortune in terms of time and advertising to get them an acceptable Offer. For the most part, it was a very successful week. I had over 50 showings, a very busy open house and excellent feedback from all interested parties. The only problem was, we only received one offer. It was for full price.
Guess what? My seller's declined the offer. It wasn't high enough. We promptly took it off the market. They learned a hard lesson and I vowed not to let this happen again if I could help it.
So now, I spend a great deal of time with each seller ensuring they have sound reasons for listing their home. I also devote a lot of time to the evaluation to make sure they are aware of what the market will likely think it is worth. If they are going to be surprised, I want it to be a pleasant surprise.