Kirsten Jordan notes that buyers have developed a negotiation tactic where they demand price reductions right before signing, leveraging their perceived power in the market.
The real estate market in New York has been a stand-off situation, with high prices and interest rates leading to a lack of activity, favoring the elite buyers.
Despite previous market conditions, this spring’s increased inventory and slightly decreased prices have emboldened buyers, encouraging them to negotiate more assertively during transactions.
Jordan emphasizes that buyers feel empowered in today's market, willing to walk away from deals unless they receive significant discounts or concessions from sellers.
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