Smart Thought Of The Week: Laughingstock
Let’s say we own a property that is worth $500,000. We put it on the market for $1,000,000 against the advice of friends, family and experts. We are adamant that we are right, even though we are dead wrong.
What’s more, we say that we are prepared to broker a lower price because we are such good negotiators. Guess what? We have no viewings. Nobody is in the least bit interested in buying our property.
We wait for months and still nothing happens. The longer we maintain our listing at $1,000,000 the bigger a laughingstock we become. Eventually, we cut the price to $750,000. But still there are no takers. In fact, potential buyers see a flaw in our strategy, if not a glaring flaw in our personality.
They reason that if a…
