Lipstick on a pig - Sage words from Shaun Rawls
By Paul Renton, ABR, e-Pro, CDPE, RERA, Prince 2, SMSTS
(Qualitas Property)
The frustrating part of this experience was the reminder that - statistically - most agents won't or can't, and therefore certainly don't make an irresistible presentation on pricing. 90% (9 out of 10) listings are listed too high. In the third quarter of this year, the median Days on Market for homes that were priced right and did not need a price reduction in order to sell was 25 days (less than a month!) in metro Atlanta. However, for those listings that had to have a price reduction before they could sell, the median Days on Market for those homes was 252 (10 times longer!). The truth is that being overly optimistic about a listing in terms of price or condition or appeal is the equivalent of putting lipstick on a pig. We live in a smart world. We are living in the reality ...
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