Good luck to you!
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Lower the price.
Sellers concessions., bonuses and raising the commission wll no t make a difference.
A buyer if looking for you to pay the closing costs they will ask anyway.. this is not going to drive buyers to you.
Selling agent bonuses.. dont work.. if they do not have someone interested.. they are not going to come. Raising the commission is not going to bring in Realtors. If a Realtor does not have a buyer looking for what you have.. which is either the type of house, location or price range.. nothing.
Reduce the price.
Ask your agent for an updated assessment of its value, with recent comps, and listen to his/her recommendations. Not knowing where it is or what shape it is in, it may be a combination of market factors, location, condition and appearance, etc. If you continue to fail to sell your property and the listing expires, give me a call. Good luck in your endeavors!
First of all if you have had plenty of activity, but have not received a written offer or have had a prospective buyer visit your home more than one time it is definitely not priced to sell. Usually after 30 days on the market, even in this slower real estate market, a price repositioning is definitely necessary. Actually, the past two months which are usually the slowest of the real estate selling year combined with the intense heat, we have had the busiest summer compared to the past three years.
Buyers are certainly looking, so I would recommend that you reduce your price immediately. And, please keep in mind that a reduction of $5,000 really does not entice buyers to make an offer. A price reduction must be considerable to make an impact on the buyer's decision to purchase.
Please contact me any time at 201-233-5278 so I can help you make a decision on pricing. By getting more information on the location, updates, condition, and attributes of your home, we can make a qualified decision on a great selling price.
Vikki Healey Properties
If your asking price is on the mark, than i would look at ways to make the house more attractive to buyers. (fresh paint, uncluttering, perhaps minor updating)
Lastly I'd try to set a market plan to target those people who should be interested in your house(location, business etc.)
Best of luck,
We though of selling and buying closer to work, but it would have been a loss financially - even if we stayed in the same town (which I love).
I'm no financial wiz, but I think buy, sell, and buy transactions cost more than to just stay put and pay it off and retire early / without any debt. The other option is to simply upgrade and renovate to make your home be what you want.
If the home shows well & is presentable, it's probably not the condition, either.
If it's been on the market for that long with agents showing it, then the market is screaming at you to reduce the price to market value.
You need to change your outlook or your agent, possibly both. Quite often, sellers get a $-figure in their head and that becomes their reality. It's common, but's not the reality of the market, which is all that matters & all a financial institution will lend based upon as well.
If your agent/broker has not advised you this way, get rid of them. If it's you, change your outlook.
You need massive exposure in order to maximize demand & selling price...but asking price is where it all begins.
Best of luck!
You should have reduced as soon as you had no offers and a lot of activity that usually is a sign of the price being too high. First reduction should have been within a month form listing price and then a second reduction around August. Please have your realtor give you an opinion sheet to buyers and they will tell you what is wrong but most likely it is priced to high. It is a good Idea to ask you realtor to take it off the market and re-list it with the new price so it appears as a new listing!!
See link below. Average price per square foot is rising 8.6% from 12 months ago. Your home is worth MORE now than when you listed it. Which means.....it is priced too high...otherwise...it would be SOLD.
I would take it off the market, repaint the trim, the front door, add fresh flower to the front yard, declutter, clean, paint, take new photos, then put it on the market at 5% less than listed.
Can you afford to reduce, or are you in a potential short sale scenario?
Real estate 101 says that if the buyers are coming, but not putting in offers, you need to reduce. At least it would seem that the agents don't think you are too overpriced, or they wouldn't be showing your home.
What happens to your market in the Fall? Do things slow down until the Spring? You might need a more drastic reduction.
Contact your agent to discuss your price/feedback/market conditions asap!
I don't know where your home is located but thereis a lot of inventory out on the market right now and the way buyers are thinking is if you will not give me your house for what i want to pay i will move on to the next. There are only 3 things that control the sale of your home 1. Location 2.Condition 3. Price. I don't know the location and don't know the condition and with that i can not tell you if you are properly priced. The only thing I can tell you is that you can not pick up your home and move it to a better location, I am sure you want to get the most money out of your home and not spend any more money on it, so therefore the only thing you can control is the price. The market has dropped in prices and yes it is harder to get a mortage because a few years ago banks were handing money to any one but anyone who says the market is slow or not a good maret is not working and that is the reason they say 80% of your realtors make 20% of the business and 20% make 80% of the business. My suggestion is if you have been properly marketed (which I don't know) then drop the price anything is saleable if you are priced correctly. Trust me if you were priced correctly or under priced you would have had 30 offers on the property so droppinng a little can only bring you more activity.
Ron SImone Jr.
All Towne Realty
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