3 Signs It's Time To Lower The Asking price On Your Home

By
Real Estate Agent with PureWest Real Estate RRE-RBS-LIC-79897

 

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Selling your home in a slow real estate market isn’t easy, but it can be done. Pricing your home right is the key to selling it within a reasonable amount of time.

Sometimes this means lowering your price while it’s on the market. Of course, you want to get as much money as possible, so how do you know when it’s time to lower your asking price?

 

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  • No One Is Looking At Your Home. If you expect your home to sell, you need to have people look inside it. Most buyers search for homes within a certain price range. If you aren’t getting any showings, chances are it’s because your home is overpriced compared to other homes in the area. In this case, you may need to lower your price so buyers will look at your home. Keep a running tally of showings and inquires. Even if your home is getting showings and no offers, its time to discuss a reduction with your agent.

 

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  • Comparable Homes Are Selling For Less. Your home will sell for whatever a buyer is willing to pay for it. If the homes around you are selling for less than your asking price, it may be time to lower it. No one is going to pay more for your home when they can get the same thing for less. Pay attention to what homes are selling for in your community and adjust your price accordingly. Ask your agent to keep a close eye on comparables and activity in your neighborhood.

 

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  • You Are Getting A Lot Of Negative Feedback. Buyers are a great source of information about other homes in your price range. After all, they’re spending their free time looking at countless homes similar to yours. As your  Scottsdale real estate agent, I can find out exactly what buyers think of your home. Perhaps homes comparable to yours have updated kitchens, new or updated flooring, features that your home doesn’t have,  or more attractive landscaping. With this knowledge, you can choose to either add a few inexpensive features or lower your price.

 

I can help you sell your real estate in a slow market. Call me today to schedule an appointment to discuss your real estate needs.  You can reach me at Jeff@arizonasrealty.com or call me at 602-531-0435.

www.arizonasrealty.com

Posted by

Jeff@arizonasrealty.com

Comments (3)

Regina P. Brown
MBA Broker Consultants - Carlsbad, CA
M.B.A., Broker, Instructor

Jeff, these are great tips for home sellers.  It’s really important to take the listing at the right price.

Jul 24, 2014 02:07 PM
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

And #4 - you are getting offers, at a much lower price. Consistently.

Aug 05, 2014 06:13 AM
Jeff Fisher
PureWest Real Estate - Whitefish, MT
PUREWEST REAL ESTATE/Christies

Claude Labbe that is so true. Number 4 shoud be added to this list. Thanks! 

Aug 06, 2014 11:45 PM