You can try to slightly lower the price (if you're in a hurry to sell) otherwise if you believe the price is right, the house is advertised properly etc, simply wait for the right buyer. You may ask your listing agent, what is an average time the property stays on the market before it actually sells (in your neighborhood). There are areas that selling activity is slower than in the others.
Good luck with selling your home!... more
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called â€œchasing the curveâ€) and Buyers will be asking the question; â€œWhatâ€™s wrong with that house?â€ and â€œWhy has it been on the Market so long?â€
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; â€œArenâ€™t you obligated to sell at this price if someone offers it?â€ The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
We have found that extremely often, the LISTING PRICE that is set on SHORTSALES and REOâ€™s are not determined, nor even discussed with the Bank: The banks play their cards very close to the vest, they will not tell the Listing Agents any more than they have to; they will not give us their lower limits. So usually, the LISTING PRICE on a distressed property is a number taken out of the air.
If you are considering a property, have a Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. If you look at enough CMAâ€™s, you will see the trends.
One PROOF of what I am saying is to a CMA, any CMA, any group of houses and any price range:
Now, print out all the ACTIVE LISTINGS and then print out all the SOLDS.
The list of ACTIVE will have a higher average price and a higher $$/sqft, EVERY TIME!!!
Very nice home.
Have your showings increased since you lowered your price?
I will keep it in mind for any of my buyers looking in that area.
You've got a great Realtor, so it should sell, soon!... more
You would still have a hardship. There is a process for the short sale and you woukd need to contact the loss mitigation dept of your lender. There is more to it. I was a mortgage broker for 6 years and I'm a certified short sale and REO specialist and would love to discuss if you have more questions.
Keller Williams Realty
1. Is the representation in writing for all parties?
2. Review "procuring cause."
3. The "new" agent may be in violation of the Code of Ethics / laws of your state (on many levels).
You should contact your broker and ask for his/her intervention. A meeting should be scheduled with buyers, sellers, "new" agent and her broker, etc. Based on the limited info here, it appears this "new" agent interfered with your brokerage's client (Google "tortious interference") and it appears your brokerage is the procuring cause of the sale. You can't do much unless your broker stands up to this nonsense.... more
I would discuss with your management company paying half of the 6% to the other agent. If not, you have only agreed to 6% and the tenant would be responsible for paying his/her agent. Good luck!... more
Most will do a CMA (Comparative Market Analysis) show recent sales, pending and active listings. We then look at averages and price per square foot. Now the real key is to know the specific market/neighborhood and to personally look at current homes listed to see how they compare in quality. It is not just about price.
Hope this help?
Charles A. McDonald
Associate BROKER at RE/MAX Assured Properties, Licensed to sell Real Estate in Virginia
ABR, e-PRO, SRES CAAR Professional Honor Society, CAAR Technology Group... more
In my 20 years as a Realtor I've learned and believe one marketing adage, that pricing is THE most important thing. All other considerations, such as location, size, ameneties, etc., are all a function of price. Even the most ugly home in the worst environment has its price.
So what is your price? And can your Realtor (me) support that price opinion using similar, comparable properties that have sold in the past 3-6 months allowing for the current market trend? I do neither of us any favors taking a lisitng and having it sit for months and months.
I will e-mail you all properties similar to yours that have sold and start the conversation there. How does that sound?