Imagine this: you have decided to sell your NYC apartment. You weren’t sure if you were going to move out or not but have finally decided to make the big move. You contact your broker, look at comps, and think you’ve now priced your apartment...
Imagine this: you have decided to sell your NYC apartment. You weren’t sure if you were going to move out or not but have finally decided to make the big move. You contact your broker, look at comps, and think you’ve now priced your apartment right where it needs to be so that it can sell. It hits the market and your broker is flooded with calls and so many showings that your head is spinning. You go to a best and final and you get a great price. But as you are about to sign the contract you wonder, did I price my apartment too low?
Pricing an apartment is both an art and a science. You never really know how your price is going to be received until you list. You go back and forth with your broker on what to list it for. Come the first day of showing, the property is swamped with buyers. You should be elated but instead, you have a sinking feeling you may have priced the property too low. Fret not, the market is speaking to you and one buyer (if not more) sees the value and will step up with a strong offer.
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