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2024 has been quite a year for the housing industry. Interest rates kept us on our toes, the dust is still settling from the NAR settlement, agents are retooling their buyer and listing systems, we are digging an even greater hole in terms of our inventory, and now we even have insurance issues to bear. This year challenged both new and seasoned real estate professionals. Despite the challenges, there are big opportunities ahead for agents who know where to look.
Highly acclaimed by its thousands of attendees, State of the Market includes crucial information about important changes happening in our industry, historical and current market conditions, researched insight and predictions of where our market is going, and opportunities and talking-points for brokers to explore and capitalize upon.
Playback period ends March 15, 2024
While we recommend that the possibility of price reductions be a part of your initial conversations once you have a listing contract, we know that many agents procrastinate about this. We also realize that many agents bend to seller pressures and list homes with a bias towards the sellers desire rather than pricing based on their professional expertise. However, when the time comes that you know a price reduction is necessary, you will need to take action. If calling the client isn't appropriate, then we hope that you'll find this sample price reduction letter to be a helpful guide.
If you use this letter, don't forget to update it with your own information!