In the Wake Forest NC Real Estate market, both commercial AND residential inventory and sales are fluid! Fluid as in moving like a rushing river and changing course! What may have been considered a reasonable price point a few weeks or months ago for a property has most likely changed.
I can promise that no Realtor® will argue the point that if you want to sell your home you must price it properly. But, even well priced homes will, at times, linger on the market for a little longer and there may be certain factors that play into that.
- If you are in an area where you have strong competition chances are the other Realtors® and sellers are just as savvy and priced their properties properly. With that, not every home, regardless of price, is going to be the perfect "fit" for every buyer.
- Maybe you are in an area where you are comparing RED apples to RED apples. If that is the case have you considered staging your property? Staging your home might be that one little touch that sets you apart from the rest of the competition.
- Is anything else moving in your neighborhood? That brings me to really the point of this post.
You and your Realtor® must continually re-evaluate your local real estate market. Review your local market competition on a regular basis - depending on your area you may consider doing this every two weeks. See what has sold in your neighborhood or perhaps what properties may have gone under contract. More importantly, have any of the properties adjusted their price and possibly added financial incentives to buyers such as paid closing costs, agent bonuses, warranties, etc.
And one important reminder, don't rely on information from your neighbors. Especially those that also have their homes on the market. Trust that your Realtor® will give you the most up to date information and accurate information. They have a vested interest in selling your home, too!
If your home is currently on the market and you do NOT have this open and continual communication with your Realtor® you may want to reconsider your expectations and if you and your Realtor® are a good fit. NO Realtor® should ever scoff at having to "check in" with you or be too busy to provide you with the information you need to get your home sold!