Helping homeowners sell their homes is nothing new to me. However, one of the most frustrating things about listing your home for sale is when the home doesn't sell. It can be maddening. As a listing agent I can typically tell if a home is going to linger on the market based on the flow of traffic that comes across the threshold the first two weeks. Then as all the Online marketing starts to populate we typically get another surge of homes buyers and REALTOR® previewing for their clients.
But this is a story about the home that did not have that kind of luck. Each open house was filled with people. However the sentiment was always the same, awesome house, just not worth what the seller wants for it. So the $750,000 starting list price soon was adjusted to $675,000, a month later to $675,000. Summer hit. So around July 4th the seller dropped to $639,500. Thinking that would do it. It did not.
So a week later they call and said "Peggy drop the price to $599,000 we want to be out of here by the end of August! "
That's when the magic happened!
Once I changed that in MLS, tweaked all my marketing to reflect the new price the home dozens of prospective buyers and REALTORS® previewing crossed the threshold. This time was different. The prospective buyers lingered,and took their time looking at the home from top to bottom. They were making a buying decision.
Selling a home in today's market is a team effort.
The seller controls Price, Terms and Condition.
Your listing agents control Marketing, Interpretation of Market Conditions and Negotiations.
Together working as a team homes get to settlement.
The moral of this story....testing the market does not always result in an offer. Homebuyers will just move onto a home where the home is priced at market and your home will sit unsold. Talk with your REALTOR®. Go see the competition. Then price the home to sell.