If a place has been on and off the market, say a year. It continues to get relisted as “new” but no change in price, that tells me it is really not priced right.
Someone who has not done their homework and studied the area they intend to buy in, comes across a “new” listing and may be persuaded into thinking it is a good price and should act quickly.
They may buy something and it may not be an informed decision. Had they known, for example, it was relisted as “new” for a year, they may drive a harder bargain and offer a lower price or not buy it b/c it isn’t priced right.
That’s just quick off the top of my head. It just seems deceptive and I’ve seen many that do it, which makes me think it must fool some people or they wouldn’t do it.
I guess a net effect would be a purchase that perhaps wouldn’t have occurred. There are probably other effects. I just personally don’t like that realtors resort to such tactics.
