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Supply and Demand is like Gravity
Supply and demand is like gravity as both are extremely strong forces.  By definition, gravity is the natural force that tends to cause physical things to move towards each other.  Overcoming gravity is possible but to do so requires a significantly stronger counterforce.  Supply and demand is an economic model whereby the buyer’s desire for a commodity, product or service owned by a seller determines the price in a competitive market.  The force is competition and it is in my view as strong if not stronger than the force of gravity.
It never ceases to amaze me the phenomenon that occurs when more than one buyer wants to purchase a house.  As soon as there is competition, the desirability of the home increases, the competitive force is magnetic.  That is one benefit to hosting public open houses that perhaps sellers do not always consider – if there is more than one buyer group present and they see that there are other buyers interested – it often increases the desirability of the house.  A seller client of mine inquired if he should allow two agents schedule to see their home at the same time.  I said “absolutely”, it shows that there is interest ... more

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