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 for $479,000 and $439,000. With two similar condos listed for less, the agent was doubtful of a sale. But the condo went on the market. 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 could not 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. The 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. Still, the owner stood firm. One day, four months and many showings later, another buyer walked in. This time it was different. This buyer loved the condo the moment he stepped through the doorway. He made an offer before he finished the tour. The agent could not believe what he had heard! He rushed to call the owner. The owner accepted the man’s offer, while the agent began to worry. Maybe the buyer would find out he was overpaying. Maybe the deal would fall apart. But no, everything worked out.
The place successfully sold for $549,000, which was a record high!
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