It turns out that setting a random, but low, listing price is a very common practice in our area. Agents in other parts of the country might wonder how someone might get away with this; it’s because our exceptionally low inventory and unparalleled high demand produce multiple offers and overbidding.
- Agents put fake prices on homes to drive interest because they know the prices will go much higher. It’s good for their personal stats and next listing appointment, but it erodes industry credibility.
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Inman Connect New York | January 29 - February 1, 2019