Perhaps taking a cue from car dealers, Coldwell Banker has announced a sort of red-tag sale in which participating sellers will reduce the prices of their homes by as much as 10 percent starting on Oct. 10. We have no word yet on which homes in the Chicago area will be discounted – the sale’s page, www.coldwellbanker.com/event, has been a dead link all morning – but a new press release says that local sellers are participating in the event.
“Here in the Chicago-area the 10-Day Sales Event is especially timely. Our participating home sellers feel that a home priced properly will generate much more interest… Plus, we’re hearing loud and clear from many of our sellers that they’re comfortable with lowering their listing prices if it means getting offers and selling quickly,” says Coldwell Banker Residential Brokerage COO Fran Broude in the release.
According to Coldwell Banker, 56 percent of agents polled said that listing prices in their markets were above where they need to be to attract qualified buyers, and that most sellers in their markets had “unrealistic expectations” for the initial listing prices for their homes.
The sale will continue through Oct. 19, according to the press release. We’ll keep an eye on that event link above to see if Coldwell Banker gets around to listing specific developments that are participating in the event.