When is it time to consider lowering your listing price, or the price you are considering, to sell your home?
- What Do the Comps Say?
- Comps are the comparable sales - that is homes similar to and near yours that have sold recently or that are currently on the market.
- You need to look at these homes carefully to learn what the true value of your home is.
- Make sure that the comps are truly comparable.
- If you're home is not as nice or well-maintained as another otherwise similar home, you need to realize that your home is not likely to sell for the same price.
- If another home has a larger lot or a slightly better location, that too needs to be considered when deciding how your house should be priced.
- On the flip side, if your house is nicer or better located, etc. that too should be factored in.
- Also consider the average days on market to see if most houses are selling sooner than yours has.
- Has Your Home Been Exposed?
- Has your agent marketed your home?
- How many Trulia views, Zillow reviews, etc. has the home had?
- How many people have scheduled a viewing of your house?
- If your house has received thousands of views on the internet but few visits in person, or if you have received numerous visits and no or low offers, your house has probably been marketed and exposed to the market.
- If your home doesn't show views online or visits in person, then marketing is likely at least one of the issues.
- Can You Change the Condition of Your House?
- Are there things you could and are willing to do to make the home more appealing to buyers?
- Paint, carpet, staging, a new kitchen?
- Are there things you could and are willing to do to make the home more appealing to buyers?
Understandably, all sellers want the most money for their home. If the comps show that your home is overpriced, if your agent is properly marketing your home and you are getting online visits or in person visits and no offers, if your home has been on the market longer than most homes in the area, if you can't or won't do any updates or changes to your home, then it is likely time to seriously consider a price adjustment.
Whether looking for a fresh approach or to list your home, I am here to help you.
Call Carrie Lukins, SellState Alliance Realty at 719-651-2199 or visit www.RunningRealtor.net
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