Home Selling in 60190>Question Details

Barb, Home Seller in 60190

I have my house for sale. I am not sure if I should lower the price of my house. It is listed 224,500

Asked by Barb, 60190 Thu Dec 30, 2010

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Hello Barb!

It seems to be assumed that you are currently employing the use of a Realtor to help you market and sell your home. If you are, then yes, they should be able to give you more information on the correct pricing. If there have been any showings, open houses or broker tours - then feedback that has been obtained might help assemble a "To Do" list to try to improve upon the property's chances of selling in the current market.

Many people do not think that it is necessary to hire a Realtor and go it on their own for various reasons. In order to answer your question, more information would be needed so as not to do you a disservice. If you are not already working with a Realtor, please feel free to contact me if you would like further assistance.

Thank you and Good Luck!
1 vote Thank Flag Link Thu Dec 30, 2010
I would ask your agent for his/her opinion of the feedback you have been receiving from the showings of other agents! Are there are any negative comments you are getting in consistently about the property. Also, what is your agent’s advice? You hired that person to help advice you through this process. They know the house better than anyone in this forum will. If you trust the individual you hired take their advice. Good luck.
0 votes Thank Flag Link Thu Dec 30, 2010
Of course, you are the decision maker on asking price. Assuming that $224,500 is “in the ballpark” and represents good value, there are some advantages to a lower price vs one that is even slightly too high. The lower the price generally the larger the buyer pool – the more people who will look at it on line and actually follow up and visit. Lower prices suggest a better value and encourage people to follow up. These factors should add up to a quicker sale. People resist a lower asking price for fear they will leave money on the table. If the price is really too low you may attract many offers. This has happened in our market where low priced foreclosures end up with bidding wars. If you are interested in selling, price aggressively.
Web Reference: http://www.joerocky.com
0 votes Thank Flag Link Thu Dec 30, 2010
Barb you should be asking your listing agent why it is not selling. They should first conduct a new broker price opinion to see what teh current value of your home is. You should then adjust your price accordingly. the next thing is what are people who are looking at your house saying? Do they all like it or anything they dislike that you can fix or change?

Please see my blog with tips for selling your home
0 votes Thank Flag Link Thu Dec 30, 2010
What is your agent advising...ask your agent for comps--recently closed similar properties in the immediate area, review the data and make a determination as to a competitive price--if your pricing needs an adjustment, adjust accordingly; keep in mind that home is worth what someone is willing to pay for it; it doesn’t matter what the seller needs or potential buyers can afford to spend; market conditions do matter as does the immediacy for a transaction to take place--also, review marketing with your agent, does it maximize your exposure, if not adjust accordingly...have you had any showings, if so what kind of feedback did you receive...make sure the property shows well at all times, is neat, clean, clutter free and don't forget the exterior for curb appeal.
0 votes Thank Flag Link Thu Dec 30, 2010
Barb, I would be happy to give you comps for your area. Please email your address so I can send those to you. My email is Mary@MaryBremer.com.
Web Reference: http://www.marybremer.com
0 votes Thank Flag Link Thu Dec 30, 2010
What does your Realtor say? If you don't have one, how did you arrive at your purchase price? If you haven't had any activity, the price could be a reason. If you've had activity, but no offers, what has been the feedback?
0 votes Thank Flag Link Thu Dec 30, 2010
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