Great pricing story: How exactly does the market work?

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Getting the top price for their home is the subject of every discussion I have with every seller. What is the best pricing strategy and how important is it to achieve that goal? Here are some of my thougths on pricing and a good example on the workings of the market. This is not an isolated case, it applies to any home, in any area, in any market.

Here is a prime property in a prime area –


First listed at 1.250 mil. It sat on the market for almost 2 months – Sellers take it off the market, then slash the price drastically to 1.1 million to generate multiple bids.

End result: Property sells in a few days for 1.285 mil, higher than the original asking price.

The moral of the story: If you want the top price for your home, when choosing a pricing approach, let the market tell you what it's worth by being reasonable from  the start. Click here for my thoughts on pricing.

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