Listing agents using "Underpricing-As-A-Strategy" to generate #FakeFrenzy?

#RE2020: Disrupt Real Estate

English - May 15, 2022 17:35 - 4 minutes - 2.3 MB
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Previous Episode: Terrible irony or Big Shaft? Why are 1 in 7 homebuyers paying $100K over ask when the Boston housing market is 14% overpriced?

Next Episode: Intergenerational perspectives on the housing bubble: learning from past real estate cycles

#PriceCorrection2022: After documenting a record high 1 in 7 MLS listings selling $100,000 or more over asking price, decided to tour open houses in one of the strongest housing markets in the Northeast, Cambridge Massachusetts & it's neighbor, Somerville. What I quickly discovered was surprising -- nearly every listing was priced below it's Zestimate; not just by $10 to $20K, but a deep discount that would send bids $100K over asking price.

Why? Are listing agents using "Underpricing-As-A-Strategy" to generate #FakeFrenzy? We offer four bullet points and invite your own, particularly if you are a local homebuyer or fellow buyer agent trying to #ProtectHomebuyers from overpaying or being manipulated in a BLIND #BiddingWars.

If you visiting open houses this weekend, too? Want to TweetUp somewhere to compare notes and thoughts about the housing market over beer? We call it real estate on tap, or #REonTap.

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