Price it right
“Most sellers feel their place is worth more and are used to hearing about how strong the market is by listening to people on the subway,” says Mark D. Friedman, a broker on the Friedman-Rosenthal team at Halstead. “If you price it like it’s a seller’s market, you will sit on the market and watch maybe three buyers come to an open house.”
So sellers need to get with the program, says Patrick Mills, a broker at CORE.
“Sellers need to understand that being aggressive with pricing in this market is not productive. There are a dozen properties for every buyer right now, so unless the home is unique or spectacular, no one is paying above market. If a seller is patient, they might get lucky, but they’re better off focusing on the reality of the market and price accordingly,” Mills says.
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