market, and the agent waited to see what would happen.
He began to doubt the strategy as he was showing the condo regularly but was not receiving any offers. People were 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 more than comparable condos. After all, a similar condo around the corner was available for $100,000 less! They counseled their buyers to keep looking and left without making offers. The condo had no special features that set it apart from the others. This unit was not a penthouse. It was on the sixth floor of a 10-story complex. The other agents were well within their rights to say the price was too high. Still, the owner stood firm. Four months and many showings later, a buyer walked in who loved the condo the moment he stepped through the door. He made an offer before he finished the tour. The agent was so excited that he rushed to call the owner. The owner accepted the man’s offer and sold close to listing price.
The condo successfully sold for $549,000, which was a record high!
The strategy they used was a huge success. Naturally, the real estate agent was excited, and the owner was thrilled to have had made a substantial profit.
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