I have been wondering what amount of the real estate inventory for sale is owned by real estate agents. It turns out to be around 6% in Greenwich.
June 18th total single family inventory = 765;
Units owned by Agents = 44
Percent total owned by Agents = 5.75%
I wonder what would happen if 6% of the market adjusted its price to clear? How would that impact the rest of the market? But then there is no one motivating factor for the parts of that group.
Units owned by Agents = 44
Percent total owned by Agents = 5.75%
I wonder what would happen if 6% of the market adjusted its price to clear? How would that impact the rest of the market? But then there is no one motivating factor for the parts of that group.
In a future post, I'll check to see if RE Agent pricing on their own respective places differs in any substantial way from pricing in the rest of the market.
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