Real Estate Math
A Pennsylvania agent lists a property at $385,000. After 45 days, the seller reduces the price by 4%. What is the new listing price?
A$369,600✓ Correct
B$381,400
C$370,560
D$368,000
Explanation
Price reduction = $385,000 × 4% = $15,400. New price = $385,000 − $15,400 = $369,600. Price reductions are common in Pennsylvania's market when a property sits without offers. Agents typically recommend reductions of 3–5% to stimulate renewed buyer interest and attract buyers who previously dismissed the listing as overpriced.
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