On the other hand, selling the condo would bring a handsome commission. Conversely, if it didn’t work out, their agreement would expire, and he would walk away. The real estate agent decided to give it a shot. He helped prepare the listing. They priced the condo at $554,900. (For reference, two similar condos in the same complex were listed much lower, for $479,000 and $439,000.) The agent was skeptical that the condo would sell for the asking $554,900 price. On the other hand, the owner’s secret strategy was intriguing, and he really wanted to see how it worked out.The condo went on themarket, and he waited to see what would happen. Almost immediately, he began to doubt the strategy. The condo was showing regularly, but no one was making offers. People were just walking through and leaving. To make matters worse, most visiting agents thought the condo was overpriced. They couldn’t understand why the owner was asking for so much money. After all, a similar condo just around the corner was available for $100,000 less! They counseled their buyers to keep looking, and left without making offers. This story is real. The condo had no special attraction that set it apart from the others. This unit was not a penthouse. It was on the sixth floor of a 10-floor complex. The top floor units were not penthouses either. And the other agents were not wrong. The price was high.
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