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2.4 = 3.0

Over-priced


This isn’t Einstein’s Theory of Relativity and I’m no genius, but I run into this type of illogical logic everyday in real estate. In fact, I think it may be more prevalent in real estate than anywhere else on the planet.

My fellow agents know of what I speak – the absurd idea that you can sell an over priced house. Like a house priced at $2.4 million dollars that has two foreclosures right down the street going for a lot less. Or brand new model homes in the same development that have never been lived in, are on premium lots and priced $250K less.Well, we might as well price it at $3.0 million dollars.

We’re going to have just as much success in getting it sold as we would at 2.4 – ergo 2.4 = 3.0!

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Written By

Writer for national real estate opinion column AgentGenius.com, focusing on the improvement of the real estate industry by educating peers about technology, real estate legislation, ethics, practices and brokerage with the end result being that consumers have a better experience.

1 Comment

1 Comment

  1. Brad Nix

    January 29, 2008 at 8:41 pm

    Overpriced listings use to be a way for weaker agents to get their name out and grow a business from there. I hope the model is turned upside down soon and agents who take overpriced listings are on their way out of the business and not in.

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