And I understand your feelings about your ex-agent listing a comparable for $20,000. I can't fault you for your reaction.
Price is very important, of course. But so is the condition of the property and how it's marketed. Sounds as if you've now covered those bases, too. And it's possible that slightly less expensive houses can sell one that costs a bit more. Buyers take a look at one that costs, say, $3,000 less and it's not in great shape or it's missing a few amenities that yours has. Then they see yours. Their reaction: "Wow. For just $3,000 we can get a whole lot more. And we can get a nice home in move-in condition." And their agents probably are pointing out that even if the buyers end up paying $3,000 more, that's only about $15 per mortgage payment.
So, you definitely want to be price-competitive. But it's not absolutely necessary to be the cheapest.
Hope that helps.
That's interesting. So the other homes were not on the market until yours was? I would not chase prices like that. I think you should stick with what you have, but work with any good buyers who make offers. Many deals are lost when one party or the other refuses to negotiate on price. If your home is the better house, the buyer will see that too.
In 2 weeks with the last realtor and their lame pictures we had only one showing.
With the new realtor, new virtual tour and a more positive attitude, we got 5 showings
lined up the first day it went on the market!
We are pretty excited.
So, our home was put on the market for a price that was comprable to others in the area that were regular sales such as ours.
2 weeks later there was a house, same square footage as ours, regular sale across the street that was selling for 20k less, and guess what...it was OUR agent that had just put it on the market.
Is she our agent anymore? I think not.
Yes it is unfortunate.
Just to let you know, our house has only been on the market 4 days and this has happened.
Actually, the house that is selling for 6k less than ours now, does not have RV storage which we have and is about 240 sq feet less than ours because we had converted one of our garages to a living quarters.
We also have about twicw the land.
I hope it will help.
Your situation is a great example of our depreciating market. Motivated distressed sellers continually reduce price until sold or foreclosed so everyone in the neighborhood has follow suit to be competitive. That's how we get 1-2% monthly depreciation.
Buyers are smart and have a lot of information at their disposal. They look for the best value for the money. When a home is overpriced for the market they may look but they will make an offer on the home that offers the best value for the money. Your agent was right price your home to sell. Don't make a small adjustment, if you can adjust it by at least $5,000 under your competition.Small adjustments usually cause all others to make similar changes. Lead the pack and you should get some offers and sell your home. It's all about the competition.
All the best,