How to tell if a listing is overpriced

Persuading sellers to be realistic is a consistent challenge for any real estate agent, especially in a slowing or a declining market. Recent technological innovations make this much easier than ever before.

In previous columns, I have discussed how to use rate-of-absorption numbers to help sellers be more realistic about the probability of selling their home. For example, if there are eight months of inventory on the market, the probability that a seller will sell in any given month is 12.5 percent.

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