Sometimes opinions are expensive

Dated: March 21 2021

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In order to successfully complete a transaction, buyers and sellers each need to let go of beliefs that are not based in reality—even though they seem very compelling. Someone who believes that all real estate is vastly overpriced might think that he or she wants to buy a home, but they haven’t really decided to buy until they stop thinking about how much a home sold for ten years ago. A homeowner who believes that their own view of what their home is worth trumps the indications that come from comparable transactions and direct feedback from the market will invite potential buyers to ignore their listing.

Buyers get to determine when a home price moves upward, but they don’t get a say in making the price go down. Sellers control the minimum price at which property can be bought, but they have no leverage over the maximum price. Happy endings occur when buyer and seller expectations overlap, and they come to an agreement. When one or both parties refuse to adjust despite plenty of exposure to the marketplace, the outcome will involve long-term renters and homeowners unable to move on with their lives.

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DAVID DUNLAP

As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....

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