Coldwell Banker to hold sale event

October 7, 2008

In a marketing move designed to fight back against the housing slump, Coldwell Banker said yesterday that home sellers across the country will lower their asking prices by as much as 10 percent during a sales event running Oct. 10 through 19. In Baltimore and its five surrounding suburbs, more than 300 sellers have agreed to lower prices "significantly," Coldwell Banker Residential Brokerage Greater Baltimore said. Once the event begins, buyers can see which properties are participating and how the prices have changed at cbmove.com. Coldwell Banker said three-quarters of its U.S. agents surveyed recently believe most sellers have "unrealistic expectations" about price but that a reduction of 10 percent or less would be enough to interest buyers.

Jamie Smith Hopkins