How do you negotiate with a seller with unreasonable price?

[John Fider]

Seller is motivated, but the property needs a lot of work. Previous tenant trashed the place. She does not want anything lower than what she paid for 12 yrs ago. 

[Mike Cumbie]

As an agent or as a buyer?

As an agent, give them an honest valuation and list it. Hopefully you get some offers that will demonstrate your price is where it needs to be. Have monthly talks about what the feedback is.

As a buyer, Give them a solid real world value and give them a "Life of offer" long enough that they think about it  (while they sleep and imagine what that money will pay off). You may be the only one who puts an offer in. They will ignore it for a couple weeks. When nothing else shows up they may call you. If so (Big point). Take your offered price, stand firm and let them get it. I "always" see. Well my low offer didn't take, so now it's even lower. The deal never works.

If you offer 75% and they say no for a month (and you know your number is good). Take it when they come back! If not they will do a price drop to 85% and you are no longer the only game in town. 

Just my 2 cents and good luck!