THE TRUTH ON OVER SELL!!

We all read the reports on this property that sold for 10%, 50%, 100% over list.  Now agents don't make mistakes like that - there is a reason and it is marketing!! 

If a person needs to sell and wants a clean, quick sale, we will price the home below market value to increase what we call a feeding frenzy.  We include a date - no offers before that date and wait.  Now in effect we have an auction - the down side - the vendor may sell cheap - the upside - multiple offers! 

But unlike an auction the Buyer does not know the other bids.  The result is the Purchaser may pay thousands more than the second place bid.  By experience - the Buyer is often the looser. 

So remember the money in Real Estate is made in the purchase not the sale.

 

 

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Harold Pope

Harold Pope

Sales Representative
CENTURY 21 New Age Realty Inc., Brokerage*
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