Christine, Home Seller in Broomall, PA

House on market 3 weeks / 7 showings / 2 interested / of the 2 one is seriously interested. Had a

Asked by Christine, Broomall, PA Thu Jul 17, 2008

brokers open everyone said it's shows excellent and priced right. One problem... we are selling a traditional colonial on Media Line Road and for some reason some people have a issue with this. How can you work around this issue? My Realtor is EXCELLENT they are a team and are doing a great job BUT and this is a big BUT, we want to get done with it and sell the house so we can move out west. Plus we want the kids to start school on time. Does dropping the price make a house that is on a secondary roadway buy your home.

Yes it's staged perfectly, we get shows excellent on all showings, we get priced right on all showings, and we have had a brokers open. The one couple that is seriously interested is waiting a couple of weeks my Realtor seems to think it's for a price drop. Why wait... why not make an offer? So I suggested my Realtor offer to either give them a home warranty, a $10,000 gift certificate at closing for fine jewelry, or assist in closing cost. would this work?

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Thank you all for your responses it's very helpful. We are in a rush but not such that we can't wait a little while. I think what makes it worse for us is that we had it up previously from May 2007 to March 2008 and we are just being extremely impatient of course this second time around. Realistically we would like to move before December 2008. In a dream world we would like to move by September! It's like you just want to see the end... just some glimmer of hope that it's finally done with.

I know it will sell. But I just have to be patient. I am grateful that I have terrific Realtors working for us and we educated ourselves this time around to price the house to sell instead of what we in our minds think people should want to pay for it. It all comes down to not making it personal and looking at things objectively. The market has changed so much so we had to change our mind set along with that.

Thank you again!
0 votes Thank Flag Link Fri Jul 18, 2008
I am not a big fan for dropping the price every few days - the market is slow, so even if a house is priced right, it takes time to sell.

But i do agree with Keith in that if time is a big issue, and you have plenty of equity, then dropping the price will hlep. The others - gift certificate (change it to credit back), fine jewelry, home warranty might sound nice, but they do not sell houses. Hard cash do.

0 votes Thank Flag Link Thu Jul 17, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
Were you clear with your Realtors that you have a time issue?
In that case pricing BELOW market will result in a quick sale at market price. The rule of thumb is 10-12 showings in 2 weeks for one offer. You are close, but if you are in a hurry, then if I were your REaltor, we'd already have a 5% price reduction 7 days ago.

A new listing has a short shelf life.
0 votes Thank Flag Link Thu Jul 17, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
Thank you for that! Very helpful.
0 votes Thank Flag Link Thu Jul 17, 2008
Those incentives COULD work, although I expect most buyers would not go for the jewelry. A hefty contribution to closing costs and/or to a downpayment assistance program would appeal to more buyers. Best of luck!
0 votes Thank Flag Link Thu Jul 17, 2008
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