Keep It Simple, Stupid.
Trying to sell a home that isn't selling is hard work.
And I know that getting these weekly market updates and feedback from showings can sometime leave you scratching your head and thinking... "what next?"
That's why it's important to keep it simple...take the information the market has to offer ... listen carefully ... and take action.
The question we want to be asking is, at it's core, simple...
Are we offering the market the best price and value possible?
In my 10+ years of selling real estate I've found the following to be true in most cases (regardless of market conditions):
If your home is being disqualified before a buyer looks at it (via the MLS or Drive-Bys) and not showing...
- Your home could be 10%+ overpriced for this current market.
If your home is showing less than once a week (on average) and has been on the market for more than 120 days....
- Your home could be between 5% and 10% overpriced for this market.
If your home is showing at least once a week (or more) and has been on the market for more than 120 days...
- Your home could be between 3% and 5% overpriced for this market.
As you know...we're in a tough market and a tough economy – toughest we've seen in many years. Now... I don't mean to imply we can't sell your home for a decent value. That's not the case. I simply want you to know we're in a market that requires we stay up on the trends and make adjustments to price and strategy to get your home sold versus all others currently competing for a buyer when it makes sense.
Remember - selling your home is a competition. All the active homes for sale in the CMA report - they want to sell as bad you we do. And...if we can't COMPETE with them on price and overall value.... then we've got some tough decisions to make.