“My Seller Doesn't Need to Sell.” Then Why Is It on the Market?

There is a response I encounter all too often when representing buyers interested in luxury properties that have been sitting on the market for an extended period. When the conversation turns to market time, pricing, or the possibility of negotiating, I hear some variation of the same statement from the listing agent:

“My seller doesn't need to sell.”

Understood. But isn't that rather beside the point?

Most high-net-worth individuals who own luxury real estate and other valuable assets aren't necessarily selling out of financial necessity. They don't need to sell, but they want to. That's precisely why they've made the decision to put their property on the market.

Having spent decades successfully representing buyers and sellers of luxury assets, I've learned that effective negotiation requires something more than defending an asking price or reminding a prospective buyer that the seller has no financial urgency.

In my opinion, a far more productive approach is to have a meaningful conversation about what it would take to get a deal done. Rather than dismissing an interested buyer or taking a defensive position, why not explore what price would motivate the seller to consider an offer?

There is a considerable difference between protecting a seller's interests and inadvertently driving away a qualified buyer.

I see far too many luxury listings accumulate months, sometimes years, of market time because of this mentality. There is no shortage of licensed real estate agents who can secure a luxury listing. But securing the listing and successfully negotiating its sale are two very different skill sets.

My approach is different.

I don't believe in pressuring my sellers into accepting a price that doesn't make sense for them, nor do I believe in entertaining unrealistic expectations from buyers. But I do understand that my sellers made a conscious decision to sell their property, and I take that decision seriously.

My responsibility is to represent their interests, create opportunities, facilitate productive negotiations, and ultimately work toward getting their property sold.

Not to defend an asking price at all costs. Not to dismiss a legitimate buyer. And certainly not to scare away a potential deal simply because someone believes their seller has no reason to negotiate.

The objective is to sell real estate, not simply to accumulate listings. And there's a significant difference between the two.