Tuesday, January 11, 2011

When the Emails Stop

I am no longer getting email updates from our "luxury leader" on price reductions.  I used to get several emails a day, which I never really understood.  It resulted in them showcasing in a shocking way, how wrong they were about their original listing price, and how much they have now lowered the price of their listings.

At one point, I calculated they had reduced prices by $10 million dollars in a week, and that was just for the property emails I had received.  One particular property which sticks in my memory was on Siesta Key that underwent a $1 million price reduction, which still is not sold.

Can you, or anyone in this market, afford to make a $1 million mistake?  "Biggest" isn't always best.  I guess someone over there figured out these emails didn't make them look especially expert at market analysis.

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