Question Details

LIDIA, Home Buyer in 07657

Why would a realtor not lower the price of his listing on a house that is empty and on the market for a year?

Asked by LIDIA, 07657 Tue Aug 5, 2008

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4
Hi Nivea:

A Realtor can give input to the seller about pricing of a home, but the ultimate decision on pricing of a listing is on the seller (owner of the property).

Not all sellers are willing to lower the price just to compete with the market, all depends on a seller's motivation or the outlook they have of his/her property and the market condition, both short term and long term..

There is always two sides to look at things - from the seller's angle, they wonder why the buyers will not come in and make an offer, at least to start the negotiation process if they are so interested in the property.

Sylvia
1 vote Thank Flag Link Tue Aug 5, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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Hi Nivea,

The answer to that question largely depends on the circumstances surrounding the sale. It is quite possible that the sellers must sell it for a certain price in order to meet their own, personal financial obligations. Perhaps they are indebted to the bank for the asking price, less listing fees and taxes and simply cannot walk away with anything lower than they are asking.

In this market, the real estate game is a tricky one. If this is a property you are personally interested in, then my advise is to make a reasonable offer for what you would like to pay for the property and see what happens...you don't know until you try!
1 vote Thank Flag Link Tue Aug 5, 2008
Lots of reasons Nivea. Without the data and info to support the correct answer I can give you a few. Seller instructs list agent to hold on price, seller is in foreclosure and bank instructs list agent to hold price, list agent is owner of property and instructs him/herself to hold price, comps may well prove out which may be correct but without the data and info there it is hard to be specific for you...Hope that helps!
1 vote Thank Flag Link Tue Aug 5, 2008
Nivea, the decision to lower the price on a listing belongs to the seller/owner.

While the Realtor can give his advice and make a recommendation, only the owner can make that decision.
0 votes Thank Flag Link Tue Aug 5, 2008
Alan May, Real Estate Pro in 60201
MVP'08
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