Redfin, a low-cost real estate brokerage company, today released recommendations for home sellers, based on academic research, an analysis of Web site statistics and other measures. The recommendations, at www.redfin.com/scientist, include advice not to overprice for-sale homes, and to price at or below the thresholds of the $25,000 or $50,000 listing price increments on real estate search sites, among others. Redfin launched a forum site at http://forums.redfin.com/rf/board?board.id=RealEstateScientist for consumers and agents to discuss the recommendations and underlying research, and to propose areas for future research. The company plans to release new findings periodically, according to the announcement. The seven recommendations outlined in the Redfin report: -- Don't overprice your property. In a 2002 study of 3,490 Stockton, Calif., listings, published in Real Estate Economics, homes without a price reduction sold for 97 percent of initial list price, whereas homes with a price...
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