in many market both Realtors and sellers are frustrated with homes not selling. The fact is that 80% of selling a property is getting the right listing price. The rule of thumb is that you need to be +/- 5% to be "in the ball park", so that is 2.5% down, or 2/5% up, so on a $200,000 home that is $5,000 up, or $5000 down...a pretty small margin for error.
There are a couple of reasons for this:
2. Buyer's shop in price ranges. There is a big difference between pricing a home at $195,000 and $205,000. Many buyers, who might make an offer, will never see the $205,000 home becaue their Realtor won't see it.
3. Setting the Seller's expectations is key to a successful process. If you knew that the average was 12 showings equal one offoer, in a slow market it could take 20-30 showings, then having your property shown by a Realtor is key. Homes that did not have "showing activity" in the first two weeks are over-priced.
I tell my sellers if we do not have 10-12 showings or 1-2 ofers in the first two weeks we are adjustingn the price.
Marketing is the other key. The Realtor's job is to expose the features of your property in a way that Realtors will pick up on the best selllig features easily. I remember a house once that had one photo on line. When I went to see it in person, it was much better than the one photo showed.
Look for your property on line, ask ti see a hard copy of the MLS printout so you know what your Realtor is saying.
How many homes, like yours, have sold in the time that yours went on the market? I provide my clients with weekly market updates so they know new properties on the market, price reductions, sales, etc.so we can adjust. Pricing a home is not a one-time decision. Pricing changes based on the market conditions.
Sit down with your Realtor, ask them what their plan is to get your home sold.