CRISIS: OVER-PRICED HOME=HIGHER INVENTORY+LESS SALES+DESPERATE HOMEOWERS=CONTINUED HOUSING CRISIS
By Paula Hathaway, REALTOR, LBA, ...A Local Expert in all The Hamptons
(Douglas Elliman Real Estate)
CRISIS: OVER-PRICED HOME=HIGHER INVENTORY+LESS SALES+DESPERATE HOMEOWERS=CONTINUED HOUSING CRISIS. We MUST do in-depth research before we price properties!!! If we don't, we will see the inventory levels climb like never before! In my last blog post, I mention the above formula to the umpteenth agent who said he would take an over-priced listing but would schedule a reduction in the agreement in 30 days or 60 days. There are still huge numbers of people who do not understand the importance of correct pricing---and we direct the whole real estate market; or at least we are supposed to! I my last blog post "How do you handle a seller who wants you to over price..." I was amazed at how may agents feel it is ok to over-price a listing "for a short time like 30 days" ...let me remind you all...
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