Check to see that your home is the best looking home on the internet.

This is a beauty contest.....

Have your agent show you the photos that are being used to market your home.
Find out how many people have looked at your home online.

All of these questions can be answered if your agent is connected to the business.

Just reducing the price won't get buyers attention. Right now every buyer is looking for a deal and (in most cases) they don't have to accept anything else. Supply is high and buyers are scarce. Your home has to be the prettiest and cheapest or you're not even in the competition. If your truly motivated, price your home below market value. Not only should you get offers, you may even get multiple offers. Good luck, I hope you get it sold.

Marlo

Hopeless,

I hate it for you. It's not the best time to be a seller in this market, if you absolutely have to sell. It's clearly a buyer's market. It's a shifted mindset to come terms and understand what it's going to take to sell the assest. It is a "price war and a beauty pagent". It has to be priced right and look great. Have you had any showings? 87% of people looking for homes start thier search on the internet before they even contact a realtor. Price is the first thing they'll look at. If it's in MLS, make sure it loaded with great pictures and a virtual tour. You have to grab their attention. It has to be media rich. Go look at your competition. That would be all the homes in your neighborhood, zip code, school district that have the same number of bedrooms, baths, etc. Visit each home with your realtor and ask yourself from a buyer's mindset, "would I buy this house"? You have to completely detach yourself from your home and put yourself into the mind of a buyer who has a lot of possible choices to choose from. They are not emotionally attached to any one home. So, two homes can be side by side, identical, and the one with the new carpet and fresh paint wins! Supply is out stripping demand at the moment in most price points. I had a seller who had to sell, price their home at what I call the "Worry" price. That's the price where people looking in that area see it, and realize it's an unbelievable deal, and litterally 'worry' someone else will get it before they do. We had 5 offers by the end of the weekend and it sold for 10k more than it was listed. There exists a market for every home to sell at, you just have to find it.

Hang in there!
Bruce

Hi Hopeless,

Your agent is going to be the best one to answer this question. I have not seen your home and it does not seem to be linked to your question. There are many variables in selling a home, such as what is the median sales price for your area, are you in that market? The key issues in selling real estate are price, condition and location. Take a hard look at each of these and decided where your issue lies. Sometimes when you are frequently dropping the price, thinking that you are keeping in line with the market, you are actually always playing catch up to the market. Find your rock bottom line and that is your price. Is it condition, are there a few repairs that need to be done. Is your home cleaned out of personal items and choices, create a nutural palate for the new buyer. Everyone wants a property that is ready to move in to. If your issue is location, well there isn't much you can do about that.

Good Luck,

Eva Foster

Hopeless? Maybe not.

In order to succeed in this market you have to win two contests - a price war and a beauty contest - you must have the best priced property and your house must be in top condition to attract buyers. There is just too much out there to choose from.

Right now, you're at a distinct disadvantage because you started with a price that was too high and you have been chasing the market downward but you may be able to turn that around.

Pretend you are a buyer - go out and look at everything in the market and then come back and take a good hard look at your house and its price? Is it a bargain? Is it fresh and clean? Does it smell good? Is all the clutter gone? Is is staged properly? How's the curb appeal? How's the landscaping? Does it look like a model home?

If the answer to any of the above questions is anything other than excellent, you need to change something.

Of course, great pictures and a fabulous Internet presence will get you attention, but that only goes so far if someone doesn't like what they see when they get there.

Good luck in your efforts - I wish you success.

Expect the best!
Julie Toon Pawley
Hilton Head Island, SC

That's the million dollar question. What you need to find out is how does your home compare with other homes in your area that are currently for sale and also homes that have sold recently in your area. If you are still priced higher then you may still need to reduce. You need to be ahead of the competition not behind. How is the condition and location of your home compared to the other homes. If there are other houses in what some might consider a better location (not on a busy street, closer to town and train etc.) and they are priced the same, you may be losing buyers to that. It's hard to say exactly without knowing all the details. The overall market conditions for the area could be playing a factor as well. If noone else is getting their houses sold, then price reductions may not be the answer.

Hi There,

I am sorry you are having this problem. My opinion is that if your realtor really did his homework he would have done a Competitive Market Analysis of your area to see if the comps warrant the asking price. Ask your agent for this CMA so that you can see which homes have sold for in your area.

Has your agent made use of a virtual tour. Lots of agents use this technology to really let your home stand out on the MLS. It will cost about $300 but well worth it. This should be payed for by the agent. Ask your agent to see the photos used on the MLS listing.........There are many things you can do.