Home Selling in Brookfield>Question Details

Cindy Lehrer, Real Estate Pro in Brookfield, WI

When dropping the price on a property to get attention and to get a quicker sale is there an minimum amount that is recommended?

Asked by Cindy Lehrer, Brookfield, WI Tue Sep 17, 2013

This is not a price correction on a property that was overpriced to start with...it is on a property that the owner is somewhat anxious to get it sold.

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Answers

3
Anxious to get sold.
That translate to sell fast.
Price 10% below market value.
Create bid situation.
Apply your negotiation skills.
1 vote Thank Flag Link Tue Sep 17, 2013
Well priced homes typically sell for within about 3% of list price. If it's had reasonable exposure to the market and buyers are not making offers, it suggests they are saying the price should come down or the property should be improved to entice them to make an offer. 3% would be a bare minimum, 5% or 10% would be better. As Annette mentions, pricing a property below the market often causes bidding that just pushes it back up.
0 votes Thank Flag Link Tue Sep 17, 2013
All depends on the home/location, showing activity price point and feedback from buyers who saw it and decided to keep looking.
If you would like my honest input, feel free to call or email. i live in Brookfield , have 4 kids in Brookfield Schools, and know the market very well. I would be happy to talk.

262-894-5412 cnovak36@gmail.com
0 votes Thank Flag Link Tue Sep 17, 2013
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