Brokers now advertise value, not luxury

March 02, 2009 08:45AM

Brokers say because of the recession, they are moving away from advertising listings with a luxury angle and instead are talking about responsible spending and value. Deanna Kory, a senior vice president at the Corcoran Group, said brokers never used to say an apartment’s price was reduced because a buyer would “think of it as tainted goods.” Now if a price isn’t reduced, especially if an apartment has been on the market for a while, buyers think sellers are not serious and that they are being cheated. Jordan Tepper, executive director of sales at Century 21 NY Metro, said brokers are including phrases like “best price in the building,” “unbelievable value” and “20 percent below market value” in listings.

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