If Your Listing Isn’t Selling

The knee-jerk reaction from sellers when a property doesn’t move off the market is to adjust the price. While it is true that dropping an asking price to a certain point will allow buyers to overlook peculiar smells, aesthetic flaws, or other problems, it is not the solution for every home that languishes on the market. That is because a minimal price cut is not likely to cause much of a stir. In order for a price change to be effective, it will have to be enough — $20,000 or more — to put the listing into an altogether different pricing category, introducing to a new audience of buyers who were not considering it before. Moreover, an automatic price reduction when a home is not selling most likely will be displeasing to the client. The seller then is likely to doubt the professionalism and commitment of the Realtor, who should not have accepted an overly ambitious list price in the first place. | Read More