Is your listing overpriced?

By
Real Estate Agent with Raleigh Cary Realty

Convential wisdom in the past has told us that if a listing goes 2 weeks without a showing or has had 10 showings without an offer, the price is too high.  I am wondering in the current market, does these time lines hold true.  I know alot has to depend on the local market, price point, condition, etc. but I was wondering about your local personal expereince

Is the 2 weeks no showings, 10 showinga no offers still valid?  Comments please

Comments (2)

Joseph Keech
Blue Atlantic Properties - Leland, NC

I feel if you don't have any interest/showings in the first 3 weeks, you are overpriced. 

Feb 17, 2010 01:55 AM
Bob Harris
BHG Real Estate III - Charlottesville, VA
Charlottesville VA Real Estate

I wish I was this smart, but alas... I got this from one of my mentors, Leroy Houser.

There are three types of propertyies on the market.

1.   Opportunity house - That's one that is at or below market value, on the market for less than 30 days, and is in good condition. (The perfect listing)

2.   Deal house - That's one that's been on the market for awhile, needs work, and is at least 20% below market value.

3.   Everything else - Will not sell.

Ouch... When you put it that way.

Feb 17, 2010 02:02 AM