You Only Get One Chance to Make a First Impression

Last week, we published research showing that more than half of all listings activated in 2009 failed to sell by August 2010. We argued then that would-be home-sellers should hire the agent with the best track record, not the one promising the best price, because the most likely outcome was that the listing agent wouldn’t sell the property at all.

Judging from the reaction to that post, we aren’t likely to deter many sellers or their agents from experimenting with price, debuting at a high price on the rationale that you can always lower it later.

There are two problems with this approach.

For the full report visit the Redfin Research Center.