Hey, fellow realtors! What is your feeling of the supply and demand in our market place? Do you know your rate of absorption? The formula for the rate of absorption is to take the number of active listings on the market and divide it by the number of listings sold. You can figure out YOUR own personal rate of absorption and compare to the market's rate of absorption and SELL YOURSELF!!! Also, in a funny sort of way, we as Real Estate agents are partially responsible for increased the supply of overpriced listings. What is the point? Let's correct the market! The market is inflated with overpriced listings let's decrease the supply so there is more demand. Have a shape up and and ship out conversation with your seller to reduce the price or withdraw the listing. Get your price reduction to current fair market value. These listings are draining our market as well our marketing budget! Thanks for your time!!
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