Last night at my daughters' band concert, I ran into another band kid's dad, a former Realtor, and we talked about today's real estate market. He left the business a year or so ago to pursue his dream. It was certainly the right decision for him. He asked me, though, how the business is; he's been hearing so many negative news reports, etc, and yet he sees my blog posts where I'm continuing to sell homes in 30 days, or 60 days or 90 days. "How are you doing that?" he asked.
I replied, "Have you ever chased a ball downhill or tried to catch up with a piece of paper blowing along the ground in the wind? If you run up to it and bend over to pick it up, it will be gone by the time you reach down. The only way you can stop it is to get out ahead of it and let it run into you."
In order to sell homes in this market, you must stay out in front of the market. If you wait to cut your listing price until the ball has rolled further downhill, you will always be lagging ... and overpriced for the market.
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