Charlotte, NC  – Coldwell Banker United, Realtors® will help bring home buyers and sellers together in the Greater Charlotte and Piedmont areas by joining a national Coldwell Banker® initiative that may help jump-start the U.S. real estate market. 

Starting on October 10, 2008, the nation’s oldest residential real estate brand will kick-off its first-ever national “10-Day Sales Event” – during which participating home sellers from across the United States will reduce the listing prices of their homes.  The Coldwell Banker 10-Day Sales Event will run nationally through October 19, 2008.  

 Local sellers participating in the event with Coldwell Banker United, Realtors will drop their listing price by three percent.  More than 350 properties will be on sale at www.10daysalesevent.com.  

“The 10-Day Sales Event is especially timely for us,” said Tom Martin, vice president for Coldwell Banker United, Realtors’ North Carolina Region – which includes Charlotte, Statesville, Lake Norman, Union County, Concord/Kannapolis, Rock Hill, Fort Mill and Lancaster, S.C.  

“We’re hearing loud and clear from many of our sellers that they’re comfortable with lowering their listing prices if it means getting offers and selling quickly,” Martin said. “Our participating home sellers believe this event will generate much more visibility and interest and ultimately get their homes sold."

“We applaud these home sellers for their participation,” said Jim Gillespie, president and chief executive officer, Coldwell Banker Real Estate LLC.   “Despite the difficult headlines regarding our overall economy, the residential real estate market has been showing several positive signs over recent months that could be signaling a tipping point,” said Gillespie.  “Because of higher inventory, buyers have more homes to choose from and they can take advantage of near historically low interest rates and affordability levels that are the best they have been in years. 

“It’s our hope that the Coldwell Banker 10-Day Sales Event will move buyers off the sidelines and into the market,"  Gillespie added.  "We are embarking on this initiative – which has never been done before on a national basis – because we believe it is critical for Coldwell Banker to help serve the needs of those individuals listing homes with a Coldwell Banker broker and to help move the U.S. real estate market in the right direction.”

            In a recent survey of 3,379 Coldwell Banker real estate professionals in markets across the United States, 76 percent feel that a 10 percent or less reduction in listing prices in their area is all it will take to help push these homes over the “tipping point” to a sale. 

“Our brokers and sales associates agree that, even in the current climate, it will not take much movement to attract those buyers who have been watching and waiting,” noted Gillespie.

Other findings from the survey:

• 56 percent said that listing prices in their market remain above where they need to be to attract qualified buyers. 
• 77 percent agreed that the majority of sellers in their market still have unrealistic expectations regarding the initial listing price for their homes .
• 79 percent agreed that homes in their market that are priced appropriately are attracting more buyers and moving more quickly .

Sellers participating in the 10-Day Sales Event will have their listings promoted through national and local radio, print and Web advertising. The brand’s flagship Web site coldwellbanker.com will feature participating listings across the nation.  For local properties, visit www.10daysalesevent.com.  Home sellers will have the option to maintain the reduced listing price for their properties following the 10-Day Sales Event.