With all the negative press that the Manhattan real estate market is getting these days and a veritable stalemate occurring between buyers and sellers, Manhattan property owners are shifting their perspectives on how to best sell their homes in a challenging market. Most are no longer interested in pricing their homes at unattainable levels and are much more receptive to aggressive pricing that gives buyers a perception of value.
The shift has happened to such a degree that some sellers are even arguing with their agents who suggest high asking prices. Just this week I had a seller suggest an asking price of more than 10% lower than I originally projected. I generally have a reputation of pricing correctly but of course I sometimes get it wrong. But it has been 15 or more years since I have had a seller tell me that they wanted to list at a much lower number than I had suggested.
With market dynamics remaining confusing at best, sellers are now getting on board and trying to appeal to an apprehensive buying pool by attractively pricing their homes. These sellers will likely be just that: SELLERS.