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“Shift” Happens

Prior to joining Keller Williams® Realty, Inc., I read three of Gary Keller’s books, The Millionaire Real Estate Investor, The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! and SHIFT: How Top Real Estate Agents Tackle Tough Times. Gary’s approach to real estate is uniquely analytical and intelligent — I urge that you go out and read whichever of these books suits your fancy. Just as an example, take how Gary charts out the risks of overpricing in an ordinary stable market, and the current — what he calls a “shifted” market:

This is not just theoretical — I have witnessed many instances of sellers “chasing down the market” and ending up settling for far less than they could have gotten had the property been priced appropriately in the first place. As Gary’s book points out, the consequences of this mistake are amplified in the current market. Unfortunately, some agents are not being straight with their clients — just to get the listing, they will agree to overprice a property. Who loses in the end? The seller who falls into this trap!