Tuesday, December 02, 2008

"What is your tolerance for loss?" and a bright note

It should come as no surprise that many sellers are still quite unrealistic about what their houses are worth in the current market. Even sellers who will soon be short sellers. Our manager suggests that we ask prospective sellers who want to list high: "What is your tolerance for loss?" See, not just risk, but loss. And who says the brokerage managers aren't realistic? Okay, our manager also wants us to cold call and door-knock for new business, but still. On a brighter note, interest rates are down again and some believe they may dip below 5%!.

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