Again, I know this is old, but its important. I'll probably write a blog post on it later today. There are only 2 reasons a house doesn't sell: 1) poor exposure or 2) bad pricing.
Since putting a home on the MLS, while certainly not the only exposure I give to MY clients homes, should be enough to rule out #1. So, that means the home is priced incorrectly. However, that doesn't mean you have to accept it. You can work together with a realtor and a contractor to find out what you can do to spend the least and get the most out of your home.... more
Your original goal was to list at $149,000. You listed at $172,000. That is about 15% above your intended price. That is 6% above the 'absolute silence' threshold. Clearly you need no additional advise. That, however, does not mean I am done.
Be aware, only a willing buyer and a willing seller will reach an agreement on the purchase and sell of a home. My impression is you have experience in the real estate business and understand your margins as well as strategic value.
You may be well advised to review with your agent at least three strategies to get this house sold. If all that is offered ONLY involves lowering the price, you are then in a difficult position.
At this point you will need to rely on YOUR negotiation skills and your apparent understanding of your local market. If your home is indeed 'The Prom Queen' of all the comparable real estate, you can make that work to your advantage. Employ denial strategies to get all those buyer in the house TOGETHER! You'll know what to do from there. (Read Ron's paragraph 3)
Best of success in achieving your selling objective.... more
Much of it has to do with the contract. The standard Massachusetts Exclusive Right to Sell has a clause stating that the original listing agent would receive the commission if the offer came in from efforts of that agent and if you have not signed with another agent.... more
The biggest mistake that sellers are making in this market is not having their home completely show ready when listing. You cannot: 1) price high to "test the market" 2) Offer a "whatever allowance" to the Buyer - get the work done before putting your house on the market. We must go beyond competitive in this market in order to sell, we must be compelling. Any home will sell if properly staged and priced.... more