A Humbling Lesson for Realtors' President

The Washington Post reports:

He, of all people, should have known better.

The president of the National Association of Realtors, Thomas M. Stevens of Vienna, admits he didn't follow his agents' advice when the real estate market started to cool. That, he says, is why his old house in Great Falls has now been on the market for a year at the price of $1.45 million.


This Great Falls Colonial belonging to Thomas M. Stevens, president of the National Association of Realtors, has been on the market for about a year.
This Great Falls Colonial belonging to Thomas M. Stevens, president of the National Association of Realtors, has been on the market for about a year.
"What I should have done," confessed the senior vice president of NRT Inc., parent of Coldwell Banker Residential Brokerage, "was listened to my agent and cut the price by $50,000 to $100,000 early on, and the property would have sold last October."

Or, even better, he said, "I should have listed it a month earlier," when the market was only just beginning to lose air.

Imagine that.