So I’m out on open house tours today and come across a decent house, with pool, good design and very nice grounds, way up off Stanwich Road. It’s priced just a tad over $4 million and I was thinking of showing it to a couple of clients because at, say, $3.5 million, it would be a good purchase. But then I noticed that the price had just been raised (!). “This morning,” confirmed the listing agent. “The owner got tired of getting bids in the mid-threes so he raised the price to show that he’s a serious seller.”
The guy may be a man of serious purpose, but that purpose is clearly not to sell his house. One, even two “low” bids might be written off as the work of those dreaded low-ballers. Three or more, all in the same range, is as loud a message you’re going to get that you’ve overpriced your house compared to its competition. The response to that message is not to raise your price. Not if you want to sell the place. It astonishes me how successful businessmen, and anyone who can afford a high end Greenwich house is almost always a successful businessman or woman, can make sound, rational decisions about business matters and completely lose their minds when trying to sell their personal home.
Or this guy is just dumb, and is living on his inheritance.