There was a country music song with the above title.  It reminds me of so many people in the real estate market today because they are not realistic about the value of their property and they get their opinions from people who do not understand the market. 

I had a house listed for $650,000 that had been shown 75 times without any offers and no second showings. 

We can usually tell when a house is getting ready to sell by several factors – the first is by the number of showings we receive, but most importantly is the number of 2nd and 3rd showings that we have.  If you have a property that is getting a lot of 2nd and 3rd showings to the same prospect, that means a lot of people are putting it on their “short list” and even if they do not buy it, the next guy will.  But with this particular home, we had zero 2nd showings. 

When I talked to the owner about the house and explained the market to them I told them that I felt like we needed to adjust the price.  They then spoke to the neighbors and the neighbors said they thought the price was good.  Of course, the neighbors are not real estate agents, they are not appraisers, they are not bankers and they are not people who normally deal in real estate.  So I asked, who do you go to for advice?  Normally, you go to your real estate agent who is working 12 hours a day, is showing property and knows the value of the competitive properties.  You do not go to your brother who lives in Atlanta who knows nothing about Hilton Head nor do you go to your neighbor who is not a real estate agent, has never sold any property and it is just his opinion even though he does not know the market.  It amazes me how people will take the advice of a non-professional on real estate. 

If I were sick and went to the doctor, I would do what my doctor said over what my next door neighbor suggested.  Even though he might have an opinion, it is probably wrong. 

It pays to get advice from a person who is an expert in the market.  I was so frustrated with this owner because they simply would not listen to reason and kept getting advice from the wrong people.