Is Under Pricing a Charlotte Home FALSE Advertisement?
Fellow real estate agent in Wellington, FL and contributing editor to the www.iCharlotteRealEstate.com site, writes a great article explaining why REO agents price homes more competitively than we often think they should.
One of my clients recently submitted an offer on a Bank Owned (REO) property in Wellington Florida and without even reviewing the comparables I knew the home was under priced, which is common with REO properties in this area. Instead of pricing the home at market value a REO listing agent will under price the home to draw multiple offers.
After sitting down and reviewing the comparables with my client and explaining the purpose of this strategy they felt this was “false advertising.”
While some people don’t agree or understand this strategy, under pricing a home is NOT false advertising.
If you are looking to buy a home in Charlotte NC and need professional guidance with the home buying process contact me today. I will walk you through the entire process from start to finish and educate you when a home is under priced, over priced or priced right on spot.
Visit www.FindCharlotteRealEstate.com and click on the REO search to locate REO homes for sale in the Charlotte NC area.
Originally posted at http://wellingtonhometeam.com/is-under-pricing-a-home-false-advertisement/
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