I have a home for sale is it true I have to lower the price 5,000 to peek new intrest in it anything less then that won't do any good?

Asked by jwcoke1, Great Falls, MT Tue Jul 30, 2013

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Ron Thomas’ answer
Ron Thomas, Agent, Fresno, CA
Tue Jul 30, 2013
Who knows!
Who told you about the $5000?
Maybe it is not enough;
Your Realtor should be answering this for you.
Have you had them do a CMA to determine the Market Value?
This is just another reason why you have a Realtor.
0 votes
My realtor said that she did a CMA and that is what we listed it at had a rush of people looking at it but now offers. So I wanted to drop 2000 to to see if anyone would be interested. that's when she said it wouldn't do any good unless it was 5000 less. Just seem weird to me
Flag Tue Jul 30, 2013
Lynn Kenyon, Agent, Great Falls Craig, MT
Fri Mar 14, 2014
Way too broad of a query. Call and we can discuss your specific property. There is no set amount,or percent, by any means.
0 votes
Doug Maas, Agent, Great Falls, MT
Tue Jul 30, 2013
Price isn't always the answer. There very well could be other factors that are keeping your home from receiving an offer, or even showings. What has the feedback been from the Agents and potential buyers that have gone through it? It might be time to listen to some of the constructive criticism that you may be getting and try to correct one or more of the items if possible.

If however you are way overpriced, then price very well could be the problem and it might take even more than the $5000 to peak some interest.
Web Reference:  http://www.DougMaas.com
0 votes
The feed back on my house has been positive as far as up keep and size the negative is some I can not change as it hasn't anything to do with the house.
Flag Tue Jul 30, 2013
Thanks for your feedback I had a CMA done and am at that price and listed with an agent she is who told me lowering the price any less the 5000 would not do me any good
Flag Tue Jul 30, 2013
Kim Martin, Agent, Great Falls, MT
Tue Jul 30, 2013
Regarding the comment about Zillow's Estimate; Montana is a non-disclosure state. Zillow does not have factual sales to give an accurate "zestimate" on your home. I'm not sure how they come up with the conclusions they do... Some are close - but many are out the ballpark. Some are even out of their minds!
Regarding $5K - I agree with Ron Thomas from CA. Everything depends on price, condition & location. Ask your agent. If you don't have one, hire an appraiser and have him/her tell you the value.
If you would like an agent, I am always willing to work with new Sellers. Give me a call & you can interview me!
Take care,
0 votes
Thank you for the feed back I thought If I lowered the price buyers might forgive what is by the home. I just need to get this process moving and nothing is happening. Perhaps a change in realtors would help I don't know I just am tired of it.
Flag Tue Jul 30, 2013
Annette Law…, Agent, Palm Harbor, FL
Tue Jul 30, 2013
If lowering the price by $5,000 leaves your house overpriced by 20%, the reduction will have no effect on the buyer you want but 'blood in the water' willl stimulate a new wave of predator buyers who will send you an offer 40% of the Zillow Zestimate....>CASH" of course.
One extracted element ($5K) is insuffucient information.
This, however, is exactly why you hired a professional to represent you, to follow their guidance and directions in getting your home sold, on time, at the right price, without all the hysteria.
There are many factors to consider as I mentioned in a previous question.
But, hey....if you don't have a professional representing you, your optons are limited. Your only option may be reduce the price untils someone bites. You simply have not provided adequate information.
0 votes
I had a CMA done and I am at that but no action on it so I wanted to lower the price not 5000 but 2000 and my realtor told me it would do any good unless it was lowered 5000
Flag Tue Jul 30, 2013
Tim Moore, Agent, Kitty Hawk, NC
Tue Jul 30, 2013
I am not sure who told you that but I would be very leery that it is correct.
0 votes
My realtor told me this I had a CMA and am at that but no action so I wanted to lower it 2000 and she said it would have to be 5000 or it would do me any good.
Flag Tue Jul 30, 2013
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