RealTown's BlogTalk

"My company has launched a 10-day sale. We've asked sellers to reduce their prices by at least 5%. I've got 2 listings that have been reduced. See them at www.coldwellbankerunited.com. Any thoughts on this?"

Roxanne, We are in the middle of our 10 day promotional sale. Coldwell Banker Residential Brokerage Mid Atlantic did a large advertising blitz on "10% price reduction, for 10 days". A good number of my sellers went along with the plan. We have had some increased activity, however, some of the general public, as well as other agents in our area, where a bit confused. Some thought that when they saw the listed price, there was still an additional 10% off of that price, and that was not the case. We had already reduced the list price to at least 10% below what it had been previously.

I have mixed thoughts. Now the challenge at the conclusion of the event, which is October 19th, is to convince our sellers to keep the list price at that reduced number. Ridiculous to raise the price. If it didn't sell at the already reduced price, then the market did not accept the repositioned price for that property. It's still over priced. A very difficult market. I have never seen such a disconnect between buyers and sellers.

Monica McNamara
Ocean City, Maryland
http://www.RealTown.com/MonicaMcNamara/blog

877-480-7653