Frank Lloyd Wright Home Listed in Oak Park -- and It Already Has 2 Price Drops

[ProfessorGAC]

5. A Guess

The original price was what the deed holders wanted. The realtors convinced them that was ridiculously high.
The listing got posted, however, with the original asking price, not the appraised commercial price.
Somebody caught the error and corrected it a couple days later.
My parents' home had that happen in reverse back in the early 90s. They sold it to downsize and somebody flipped the first 2 digits of the starting price. Instead of $94,500, it hit the MLS book at $49,500. The realtor got 37 calls in three days, and my parents saw people stopping at the corner taking Polaroid snaps.
It got corrected, but the realtor called about a dozen other realty outfits immediately so they'd know that number was ridiculously low. It was a 2,600 square foot home in great condition for $49,500. $19 a square foot! No wonder buyers got excited.