“If the House is Priced Correctly, it Will Sell Quickly”

Over the past few months, as the housing bubble has shown signs of deflation, any number of Realtors has commented that “if the house is priced correctly, it will sell quickly.” They say it like it is tried and true wisdom acquired through years of experience or some sort of special professional insight. In reality, the quote is a hackneyed cliché and only shows that the speaker has a firm grasp of the obvious. It is the stock broker’s equivalent of telling a client that to make money in the market you should “buy low and sell high.” Most stock brokers still in the business got away from peddling this kind useless advice years ago, even before regulators told them to stop, and before electronic trading made for an easy and cheap end-round-run from the typical smart ass broker.