I Don’t Want to Reduce the Sales Price of My Home!

Real Estate Broker/Owner with 1 Month Realty 49855-090

Market Value

As a Realtor in SE Wisconsin (Kenosha and Racine counties) of almost 30 years, I have had a number of situations come before me – from buyers and sellers. 

Today I am going to address a subject commonly heard and my response to my seller. My hope is it will help you as a Seller or as a Realtor when having this "discussion" as many of us have -- and that it will help you in making the right decision for your situation.

I had a Seller who was in a position of not wanting to reduce their sales price because their “neighbor” sold for so much more "just 6 months ago" and they felt their home was equivalent or even a little better than theirs.

"I Don’t Want to Reduce the Sales Price of My Home"

There are several reasons a seller may not want to lower their price: 1) they want the highest price because they are looking to purchase another home at the same time; 2) they have an emotional and/or sentimental attachment; 3) pride of ownership; 4) not really needing to sell; 5) overvaluing upgrades and improvements; 6) seller expects a buyer to negotiate (just bring us an offer); or  7) they believe eventually the “right person” will come along and pay the price the seller is asking (good luck with that).

When meeting with a Seller who is reluctant, it's important to discuss and express that you want to see them get the "best possible value" for their property.

Unfortunately, the best possible value varies over time according to various factors. Even though demand and prices may go up at some future date, allowing a seller’s home to linger on the market for an excessive length of time will tend to reduce its "relative value". Especially, in the eye of the “beholder” – the Buyer. And then there’s the question of "how long you are willing to wait?" plus the risk that you may never receive an offer at your "asking price" -- no matter how long you hold out.

I believe the best option in our current real estate and marketing situation is for us to get together and discuss all the relevant information with regard to correctly pricing the seller's home. We can review recent market activity, such as sale prices of comparable homes and what type of properties have been selling in their current price range. We can discuss the level of interest generated by signs, ads, and open houses, and what prospective buyers are saying. Then we can analyze this information and adjust our pricing and marketing strategy accordingly in order to sell the home for the best possible price in a timely manner.

Value of your home

If you or someone you know are thinking of selling your home (now or in the near future), please give me a call at your earliest convenience.  We can decide “together” on the most appropriate course of action to take so we see a SOLD SIGN in your yard in a reasonable amount of time according to our market. I will provide you with a Free Market Analysis ... I look forward to hearing from you soon.

Comments (8)

Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

Often, sellers will hire the agent who is willing to put their  property on the market for more money than the market shows it's worth.  That's sad, because chances are it will become "stale" and end up selling for way less. 

Jan 28, 2023 02:26 PM
Diana Dahlberg

Hella M. Rothwell, Broker/Realtor® typically that would be an inexperienced Real Estate Agent.  And when a house has been overpriced and doesn't sell ... that seller is going to find new blood ... or an Agent who has a better track record. Thank you for your comment. Have a great weekend.

Jan 28, 2023 03:18 PM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

You can keep your high price and just help the buyers with a rate "buy-down" and everyone wins.

Jan 28, 2023 02:29 PM
Diana Dahlberg

Depends on how overpriced the house is Georgie Hunter R(S) 58089 .  Thank you for your comment.  Have a wonderful weekend.

Jan 28, 2023 03:19 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Great topic Diana. If your home is unique in some way one has a CHANCE at holding at a price until the buyer that needs that uniqueness (example 20 horse stalls and an arena) comes along. However if you are in a tract home subdivision where there are 5+ similar homes on the market that are priced less than yours there is going to be an issue.

Jan 28, 2023 03:04 PM
Diana Dahlberg

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI Soooo true!  Can't disagree with that analysis!  Yes, there is also the unique features that come with a price!

Jan 28, 2023 03:21 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Diana I turn away listings when I see that the seller is unrealistic or unreasonable and does not want to listen to logic, facts and accurate information. Just to be clear I am OK with that, I tell them please call me when the other agent can't sell it I will not be offended, Endre

Jan 28, 2023 09:00 PM
Diana Dahlberg

Endre Barath, Jr. i have done the same thing a number of times.  I am never offended.  It's their decision and they have to live with that decision. 

Jan 30, 2023 08:24 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jan 29, 2023 02:19 AM
Diana Dahlberg

Thanks Richard Weeks I did have a nice weekend.  And today?  I'm hoping to get caught up with alot of paperwork.

Jan 30, 2023 08:25 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Diana, I have a listing right now that the seller agree that if we do not have a offer in three weeks he would agree to reduce the price, well it been four weeks now and still not going to reduce it.


Jan 29, 2023 08:29 AM
Diana Dahlberg

It's sad when a seller says one thing and then does not hold up to their end of the bargain.  When I list a property that I think might be a tinge too high I actually add wording to my Listing Agreement stating that the Seller will reduce the price "BY X AMOUNT" within "X Days" ... that way I have it in writing.  Thanks for your comment Will Hamm 

Jan 30, 2023 08:26 AM
Roy Kelley
Retired - Gaithersburg, MD

Home sellers are in very good hands when they seek your professional real estate advice and assistance.

Jan 30, 2023 05:43 AM
Diana Dahlberg

Thanks Roy Kelley I appreciate your confidence in me! Have a fabulous week!

Jan 30, 2023 08:27 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Diana, we usually run into a few of these sellers, but after a while, they usually get realistic.

Jan 30, 2023 11:55 AM
Diana Dahlberg

Joan Cox I agree.  But it comes up every so often.  I have a pretty good track record with working with the sellers to find a point of agreement.  Have a good week!

Jan 30, 2023 03:11 PM