I've noticed a number of listings either coming back on the market or being newly listed right now, but at little or no discounts to recent comparable sales and in some cases even higher. I'm wondering what the marketing strategy is?
Do sellers/agents think the opportunity for publicity is greater and enough to ignore the drop in demand? Are these listings anticipating low offers and are going to be extremely negotiable? I don't think I'm seeing anything which is looking to get out in front of a declining market by pricing, say, 20% below a recent transaction and seeing if the market will beat a path to their door.
Or do they really think that removing "days on market" will erase the usual effects of listings getting stale if 3 to 6 months from now the listing is still sitting around and hasn't sold yet?
Do sellers/agents think the opportunity for publicity is greater and enough to ignore the drop in demand? Are these listings anticipating low offers and are going to be extremely negotiable? I don't think I'm seeing anything which is looking to get out in front of a declining market by pricing, say, 20% below a recent transaction and seeing if the market will beat a path to their door.
Or do they really think that removing "days on market" will erase the usual effects of listings getting stale if 3 to 6 months from now the listing is still sitting around and hasn't sold yet?