Dec 9, 2021
Imagine this...you’ve been living in your apartment for quite a few years and have loved your time there and feel there’s no other place like your apartment or your building. However, in realizing you now need more space, you decide to list your property and because you’ve put so much money into it and decorated it to perfection you know you will get an amazing price. The location, uniqueness of your home, and the building make you feel confident as it goes on the market. Your broker is flooded with phone calls and emails. All is going according to plan, and then all of a sudden your neighbor decides to list too, and they have the exact same layout, but they list their property at a much lower price! WTF! Now what?
Before you panic, it’s important to determine the differences in apartments and why is the asking price so much lower? Sometimes the motivations of the seller are more personal than market-driven. But the toothpaste is out of the tube and your listing is looking overpriced. Maybe the lower-priced listing facilitates a quick sale or maybe you take your property off the market and wait. You have options.
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