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How E As In The U S Sell Houses In A Crashing Market

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To fight the glut, home sellers push their prices down
By Kimberly Blanton, Globe Staff | July 17, 2006
Home sellers are learning what any retailer, from Wal-Mart to the owner of the corner gas station, already knows: Low prices are one of the surest ways to beat the competition.
Coldwell Banker Residential Brokerage, Massachusetts' largest real estate firm with more than 3,500 agents, is coaching agents on how to persuade clients to list their homes at an asking price that undercuts those of comparable ones on the market.
The hope is low prices will attract more prospective buyers, leading to faster sales. Other real estate agents in the Boston area report success with similar strategies in a housing market with an unprecedented glut of properties for sale.
Called ``drama pricing" or ``energy pricing," it is a drastic measure for difficult times. And it seems to run counter to the conventional strategy of selling your home for the highest price possible.
Buyers are ``overloaded" with options and ``only respond when they see a perception of value," said Angela Stamoulos, who teaches Coldwell Banker's course on this pricing technique, which the firm rolled out this spring in Connecticut and last month in Massachusetts.

"Value" pricing would bring a smile to Warren Buffett's face. As the US seem to always lead the UK in a HPC, these techniques should be taken on board by our EAs ready for the Great Reversal* due in a few month's time. :)


*The next HPC has not yet been named. The "Great Crash" took place 1989-96, The "Big Crash" was in the early 80's.

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Seminars in persuading sellers to reduce their prices?

Bluddy hell, Real Estate has to be the dumbest industry ever.

I despair really. In my very little town there are 6 estate agents - 2 or which are new in the last 6 months.

In my local property paper there must be over 30 advertising.

So when you want to sell your property you can get dozens of the eegits in to give you higher and higher valuations. It is the dumbest industry - the only one I can think of where people will do a job and take the risk of not getting paid - but lots of people make lots of money from it.

Roll on armageddon.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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