How long is the real estate listing going to linger on the current market?
Hear a clock ticking? Time is not your friend and like food left out to attract flies on the counter or in the forgotten in the ice box, nothing good happens the longer it hangs. Waiting for some brave soul that can part with the money needed to make it go away. Waiting for consumption, absorption on the real estate market. Properties that linger develop real estate mold. Or are frozen in time. Hurry up and wait. And wait. Wait some more.
The property buyer can almost see the ten foot pole marks developing on the real estate listing and form the conclusion something is wrong.
The property is being passed up for a reason. Often the only issue is the price. Often it is lack of full throttle marketing. Or both come into play in a two step sucker punch to the kidneys or some other tender place where vital organs live deep down inside. To keep the real estate closing from ever happening. That make other fairly priced properties look even hotter. To help sell them in comparison. Your real estate buyer is not dumb, smarter than the average bear when talking the biggest purchase most of us ever make.
Don't do it. Over priced properties are kryptonite whether you wear an "S" on the front of your T shirt or not. Should not be taken by real estate professionals and avoided at all costs.
They are like vehicles driven into dangerous places. Thrown into park and abandoned on high speed highways to create obstacles, fatal pile up accidents just waiting to happen. Keeping the EMT's, hearses, tow trucks busy. But nothing more. Nothing good comes from over priced real estate listings. They give the seller the expectation the property will actually move it out scout at this inflated figure. For the nose bleed high up in the bleachers, hitting your head on the lower side of the roof pricing.
Some in the audience feel sorry for the owner of over priced property. Blaming it on the market when the current numbers scream this property should never have been listed for this crazy figure.
And the pendulum from too high to too low can occur.
Which makes the market eat itself when those sales are the appraisal comps used in the bean counting for bank mortgage lending. There is a better, saner way to handle the real estate listings.
Read more, full article on "Time, How It Can Be Wasted And Kill A Real Estate Listing Sale."
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