10 Day Sale results

From October 10th through 19th Coldwell Banker held a national 10 day sale where participating sellers reduced the price of their homes by at least 3%. The properties were labeled as being on sale, increasing their exposure. Two-thirds of the participants reduced their prices permanently, revealing the difference between what they thought the house was worth and what the buyers were actually willing to pay. At the time about 32,000 homes were on the market and about 6% went into contract. The sellers were very pleased with the results, especially since that was the only good news going on in the marketplace at the time.

The sale resulted in increased press for Coldwell Banker as well. About 120 television clips aired about the sale and in Pittsburgh the sale was the top story on the evening news. The stories included a $24 million sale where a couple arrived with cash in hand during the event. Also, an agent walked into a Coldwell Banker office saying "My company is not doing anything for me; can I work for you?"