There have been a number of closings on Nantucket recently of properties that have been for sale for three years and longer. The owners priced their properties too high when they first listed and then chased the market down with multiple price reductions. Not only does this cost the seller time, it usually ends up costing them money – when the property sells for considerably less money. We can cite numerous examples where, if the seller had taken the advice of real estate professionals in the beginning, they would have come out ahead. If they had sold the property earlier based on correct pricing, they would have had the proceeds working for them. The most certain way to establish value is to actually list the property and see how the market responds. In rare cases, in spite of pricing based on sound data, the property may still take longer to sell. Read On….