The customer’s (often) right

There’s a new price reduction on a house today – I can’t reveal details without disclosing old negotiations, but I think it’s okay to say that a year ago, a client of mine offered 87% of what is now the new price. At the time, the offer was a much lower percentage of the ask: 64%, I believe, but the seller has now paid taxes and maintenance on an empty house for a year only to reach a price that was within easy negotiating reach of the buyer then. Of course, the buyer has moved on, and the sellers now have to deal with the next potential buyer, who will use the new price as a starting, not ending place. There’s a lesson here, somewhere.

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One response to “The customer’s (often) right

  1. anonymous

    Time value of money and opportunity cost are such common sense concepts, but apparently not common enough