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New York

Brokers confront too-low offers

From the April issue: With the spring selling season kicking into high gear, brokers are up against an unwelcome obstacle: uninformed buyers who insist on submitting lowball offers.

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Last month, brokers said they struggled to educate buyers accustomed to controlling the market — some of whom made bargain bids on reasonably priced properties — that the spring season is a different beast. New apartment hunters are in the mix, and inventory is still down in most parts of Manhattan. [more]