- Long listing can equal big savings
An overconfident vendor can be their own worst enemy. In most markets, appropriately priced properties sell within a reasonable time frame. When markets are rising, sellers may confidently list there investment at a price above the local market and wait for it to catch up, but when things stagnate these properties will sit and if the seller isn’t flexible, they will burn off potential deals.
If you feel a property is overpriced, keep an eye on it. If the market isn’t particularly hot and you start seeing the home appear week after week with no joy, particularly if the list price keeps reducing, try your hand. The frustrated home owner may just feel the need to get the darned thing over and done with.