“Priced to Sell?” Not Always
Notwithstanding many a listing agent’s assurance to the contrary, not every home is “priced to sell.”
When that’s the case, a price reduction is eventually in order.
The catch with Minnesota homes that list now and turn out to be overpriced?
Four to six weeks into the listing — the point where it’s usually apparent that the price needs to come down — coincides with the approach of Thanksgiving and the Holidays.
In other words, precisely when the Twin Cities housing market starts to slow down.
“Wait ‘Til Next Year?”
Cutting the price when no one is paying attention is usually . . . a wasted price reduction.
Which means waiting until the market picks up after the New Year.
Or, pricing right, right from the get-go.
Guess which advice I give my clients . . .
See also, “Nurse! I Need a Price Reduction, Stat!!”; and “Perils of Overpricing.”
