Every week I review my listing inventory to see how competitive each listing is. Just because you were priced competitive when you came on the market does not mean you are still competitive two or three weeks later. New listings hit the market better priced than yours, your competition reduces their price to make you look silly, or one of your competitors sells and creates a new value for your home. That is why I have to consistently keep an eye on what is going on around me.
With that in mind, I when I call one of my clients to tell them that we are no longer competitive and we need to adjust the price to generate more activity, I'm not sure everyone understands what goes into a price reduction. Although some Realtors just reduce the price and walk…
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Found 1 blog entry for November 2008.