If you're selling your home and you've priced it too high, what's the best course of action?

Asked by Alison Hillman, San Francisco, CA Tue Apr 23, 2013

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David Bell, , Seattle, WA
Tue Apr 23, 2013
BEST ANSWER
Well lets see.....how about lowering the price! Good agents don't let their clients price the home too high for too long as it will hurt them in the long run. If a home is over priced it will usually sell for less than it would have if it were priced correctly to begin with. But sometimes sellers insist on listing at a higher price than what their agents tells them and sometimes agents give into this. So depending on your set of circumstances you need to evaluate if you need to change agents but in any case you need to lower the price, NOW!!
0 votes
Bill Eckler, Agent, Venice, FL
Fri Jun 6, 2014
If your home is priced too high and is not supported by the sale of locally similar homes, there only one way to go.....and that is to drop the price immediately to a level that can be defended with good comparison information. Your buyer will likely be found there....

Bill
0 votes
Pamela Bowe, Agent, Seattle, WA
Fri Jun 6, 2014
There are several issues you should discuss with your broker. Are the comps in the area selling timely? Is your home hampered by its neighbors? How long has it been on the market? What makes you determine the price is too high? Does the home need work?

While lowering the price is a quick answer, it would be interesting to know about the property and why you think the price is excessive.

Also, I see your request is from April of 2013-the market is different in June 2014. Have you sold your home?
0 votes
Robert Merha…, Agent, Bellingham, WA
Tue Apr 23, 2013
Lower the price. Lower the price. Lower the price.
0 votes
Ray Akers, Agent, Seattle, WA
Tue Apr 23, 2013
You should reduce the listed price --based on the expert opinion of your Realtor. Do not base your opinion of price on a Zillow 'Zestimate' or other estimate from a third-party real estate website. Your agent has access to the most recent and relevant market data. Trust your agent to know how to price your home in today's rapidly-changing real estate market.
0 votes
Johan Tong, Agent, Seattle, WA
Tue Apr 23, 2013
Fire the listing agent!!!

Of course not. I would recommend redo the CMA to access the fair market price and leave the pricing game to the professional agent.

If you need a professional CMA, go to the following website and register. I will send it to you.
0 votes
Danny Greco, Agent, Seattle, WA
Tue Apr 23, 2013
If you know the price is too high per feedback and lack of interest it's not hard to lower the price down to realistic market levels. This is not hard to do for any agent.
0 votes
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