One of the hardest conversations in real estate is asking a seller to lower their home's price. But sometimes the market sends a clear signal.
If the house across the street has just reduced its price, that matters. Buyers looking in the same area are comparing both properties, often side by side. If one home suddenly becomes more affordable, the other can begin to look overpriced, even if nothing about it has changed.
That is when we have to look at the bigger picture.
How many showings have we had? Are buyers making offers? What are they saying after they leave? Has another competing property reduced its price? Has anything sold nearby that changes where buyers see the value?
A price reduction is not about giving the house away. It is about keeping the property competitive.
Sometimes reducing before the market gets too far ahead of us can bring new attention, more showings, and a buyer who may have skipped over the property before.
Sellers don't control what the neighbor does, but we do have to respond.
Real estate is always about comparison, and buyers are watching the same listings we are.
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