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Spring!

Spring is in the air bringing blooming daffodils, bikers on the paths, hungry fish and much more. Spring also brings overly excited Sellers, who think their properties are worth more than they are – the emotion factor. So, they tell their broker to list it at their subjective price rather than being rational, comparing their property to what has sold, not what is available, and which way the market is going. This can create a snowball effect because once one Seller lists too high, then the next Seller thinks, if she’s asking x, then I should ask x + y, if he’s asking x + y, then I should ask x + y + z, etc. Then, there are a bunch of overpriced listings that don’t sell and everyone is spinning their wheels. It can be tricky to have Sellers take the emotion factor out of their thinking, but the numbers don’t lie.