What use to be considered overpricing a home is now the correct price, but in a slowing market. Can the real estate agent determine the approximate selling price in a downturn? It is definitely more difficult even with all the data that is accessible. There is decreased demand even with correct pricing or "priced below market" pricing. After all this is a business transaction.
Marketing has taken on a whole different meaning. Years of real estate experience will be put to good use in the coming months as I go back to the basics on setting the listing price on the homes I market or come up with new ways to set the listing price. Does the old way work? Not without a lot of thought and scrutiny...
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