As REALTORS® we know, and so do the sellers, that prices have dropped. We are not only not experiencing a rise in prices we have had to make some big adjustments as the inventory grows. The idea now is to get ahead of the market as it goes down…don’t chase it which means don’t drop your prices when it is too late.

If a house should be priced at $450,000 we have to really convince the sellers. It’s not working to go along with a $475,000 price and then 2-3 months later reduce it to $450,000 when the market value is now $425,000.

It is better to take our lickings from the sellers once, when we list, than each and every time we have to talk to them about a reduction or why no one is showing the house let alone writing a contract. I’m wondering if many of you are still experiencing unrealistic expectations on the part of some sellers.