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Inside the deal: Palm Beach mansion swap

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From the South Florida Web site: For a third time this year, the Palm Beach office of the Corcoran Group, looking for ways to move mansions in a slow market, brokered a deal so that two clients could swap mansions for an even $6 million. “Trading houses is a creative solution in this market,” said Bill Yahn, director of sales for Corcoran in Palm Beach. The swap earlier this month is an extreme example of how to get business going when the market is nearly moribund, he said. “Swapping is a way to get the maximum values, the highest and best price in a market where there are no takers.” Yahn said they have only done swaps when both homes are local and both parties are working “internally with Corcoran.”

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