**Question 8:**Ann and Barbara are computer programmers in Nashville who are planning to move to Seattle. Each owns a house that has been appraised for $100,000. Ann’s house is one of hundreds of highly similar houses in a large well-known suburban development, and Barbara’s is a one-of-a-kind house built from her architect’s design. Who will benefit more by hiring a realtor to assist in selling her house?**Discussion:**This scenario presents a comparison between two distinct types of real estate properties. Ann’s home, being one of many similar properties in a suburban area, might face more competition in the marketplace. Conversely, Barbara’s unique home requires a more targeted approach to find the right buyer who appreciates its unique features. A realtor could provide distinct advantages in both cases, enhancing marketing strategies and liaising with potential buyers.

Ann's houseAs one of hundreds of highly similar houses in a large suburban development, Ann's house is likely to attract multiple offers from potential buyers.A realtor can help Ann price her house competitively and market it to a wide range of buyers.However, Ann may be able to sell her house herself without much difficulty, as there is likely to be strong demand for her type of property.Barbara's houseAs a one-of-a-kind house built from her architect's design, Barbara's house is more difficult to compare to other properties on the market.A realtor can help Barbara determine the appropriate price for her house and market it to the right type of buyer.Barbara's house may not appeal to as wide a range of buyers as Ann's house, so having a realtor to help her find the right buyer will be more important.Overall, Barbara will likely benefit more from hiring a realtor to assist in selling her house than Ann will. This is because Barbara's house is a unique property that requires more specialized marketing and negotiation skills.

Business

Economics

8. Ann and Barbara are computer programmers in Nashville who are planning to move to Seattle. Each owns a house that has been appraised for $100,000. Ann's house is one of hundreds of highly similar houses in a large well-known suburban development, and Barbara's is a one of a kind house built from her architects design. Who will benefit more by hiring a realtor to assist in selling her house?

8. Ann and Barbara are computer programmers in Nashville who are planning to move to Seattle. Each owns a house that has been appraised for $100,000. Ann's house is one of hundreds of highly similar houses in a large well-known suburban development, and Barbara's is a one of a kind house built from her architects design. Who will benefit more by hiring a realtor to assist in selling her house?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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