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When Your Listing Isn't Selling, What's the First Thing to Fix? All Together Now...
excerpted from my new book "If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!"
When your listing hasn't sold, what's the first thing you look at?
Nope. Not always. Not even most of the time.*
Many real estate agents claim that price cures all. And in a way, they're right. If you have a listing that shows poorly or is difficult to show or smells funny, there probably IS a price that will inspire buyers to overlook the clutter, access issues or eau du Chef Boyardee.
But is price the RIGHT answer? Again, not always. Not even most of the time.*
Why on earth not?
First, I hope that when we real estate agents price our listings, we're pretty proud of that price. If I've put a price on a property, unless the market has declined, I'm pretty sure I'm in the ballpark. And the thing is, in today's market, buyers are well aware that they can "make an offer," so a minimal price reduction--say, $229,000 to $224,000 probably isn't going to make much of an impression on the market. In order for a price reduction to be meaningful, it's going to have to take ... more
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