A price reduction is not a marketing tool it's a financial loss! Reducing your price gives buyers the impression there may be something wrong with your home or that you are in a desperate situation and need to sell now. While this may very well be the case the costly marketing campaign you've chosen has a poor return on investment and looks the same as every one elses. Marketing is about standing out from the competition to gain more exposure. It's a game too few really understand.
When you sell your home there are options you need to consider. Investing a few hundred dollars now could save you thousands in the future.
Option 1: Price it right the first time and according to your needs. Be realistic in what you want and expect from the sale of your home. Hiring a professional Real Estate Agent doesn't mean they decide your fait. The market assessment you receive from them is a guideline of current market conditions but ultimately you are responsible for choosing the asking price.
Option2: Have your home appraised. Getting a professional appraiser to place a value on your home is the best way to determine what it's really worth today. Doing this will make pricing much easier plus you'll have a legitimate report that shows potential buyers the real value of your home.
Option 3: Have a professional Home Staging & Redesign specialist to properly prepare your home for advertising online, print and showcasing. Marketing the appearance of your home is as important as the price itself. The way your home looks is the very first thing a buyer sees. If it doesn't look good it will quickly be dismissed by the majority of buyers leaving only investors and bargain shoppers waiting in the wings.
Option 4: Ask for increased advertising from your Real Estate Agent. Agents usually have set guidelines by which they advertise but may be willing to increase print size and sources for a nominal fee or in some cases for free. Use caution with this option! If your home isn't priced accordingly from the start or if it doesn't show well; this option is a waste of time and money. Agents will be reluctant to spend extra time and money helping home sellers who don't help themselves.
Option 5: Do nothing. By choosing this option you have decided to remove yourself and your pocket book from the equation for success. In the short term you'll be saving yourself time and money but having relinquished all responsibility will cost you thousands in the end.
Just because every one else is doing it doesn't always mean it's the right thing to do. Talk to your local Real Estate Agent or visit our website for more useful information on preparing your home for SOLD!
Call us at (780) 904-4647
email: info@rivercityredesign.com
www.rivercityredesign.com
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I think you have some good points but don't agree with having an appraisal. They use the same database as realtors and You can have 3 appraisals and three numbers just like a realtor, but wh spend the money. Many people think if an appraiser says x it must be x. they are not helping buyers and sellers and may not have any feel for the market other than their numbers and those are fromt he same database as the realtors use. Appraisals often make sellers overconfident in a solid price and then when it doesn't sell they think they are losing money. 
I agree I see REDUCED signs and think .. hmm so the seller / agent still thinks it is worth more then the "market" . I think it should read "getting closer to realty fokes hang on "