Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Coldwell Banker Real Estate on Friday will launch a 10-day event that will reduce prices on homes for sale by up to 10% in most major U.S. markets. While home sellers have the final say on the price, Coldwell will offer a special reduced price listing on its Web site.
Possible smart move, as most sellers are probably going to take any reasonable offer, and I would even guess, that most sellers have that cushion built in anyway. So high fives, and lets see what happens.
Interesting I don't hear anything about a COMMISSION percentage cut that the realtors are kicking in...
Yeah, that'll happen....
Doubt it. My guess is that the advertising campaign for this will be mega expensive. Cutting commissions and huge marketing campaigns don't really go together.
The CEO was on TV last nite talking about this, says that something like 85% of those sellers will not raise their prices back up after the "sale", so now the buyers wil still offer 10%-20% less or some low ball offer.
If sellers have so much room to negotiate, as CB seems to think, then why don't buyers just throw their best shot out there and see if the sellers bite? It's such a wierd 'game'. People who are able to buy will buy..Those who can't, won't, not with the stricter lending criteria...But maybe it will work and spur more interest....will be interesting to see how it pans out.
If real estate agents are so good about knowing how to price a house, how come there are so many overpriced houses on the market? Can it be that ALL these sellers went against agent advice and CAUSED the housing industry mess themselves???
If I was a home seller using Coldwell, I don't think I'd agree to the price cut unless my agent joined in the fun by cutting her commission! In fact I'd consider canceling the listing, reducing my price by 6 - 10% and selling "by owner" instead.
If real estate agents are so good about knowing how to price a house, how come there are so many overpriced houses on the market? Can it be that ALL these sellers went against agent advice and CAUSED the housing industry mess themselves???
If I was a home seller using Coldwell, I don't think I'd agree to the price cut unless my agent joined in the fun by cutting her commission! In fact I'd consider canceling the listing, reducing my price by 6 - 10% and selling "by owner" instead.
This seems very silly to me. Are you saying that because the market is declining thereby necessitating price reductions in many cases, and this company is offering to spend an enormous sum on additional advertising to try and get things moving for your home, you would fire your realtor?
How ridiculous.
I thin kthe sellers get to decide if they want to be involved in the sale event themselves. They don't have to, and i think they also get to decide whether to put the price back up afterwards or to leave it reduced.
Will this apply to bank owned properties as wel? I sure hope so!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Who overpriced the homes to begin with?
