If your home is not getting showings, you may think there are many possible reasons. Some of these may include the slow moving status of our local economy, the inclement weather, or the total number of houses for sale that are competing with yours.
Although these factors may be valid reasons for the lack of showings, they usually are not the primary. As difficult as it is to admit, the problem is almost always your price. If your price was competitive with similar homes, you would have a better chance of attracting buyers. If the price on your house is too high, you must consider making the difficult but correct decision to reduce your price so that you may get the attention of buyers who are currently in the market.
“They could always make an offer!”
One of the great fallacies in the real estate business is the feeling by sellers that it doesn’t hurt to have a high asking price. The most often heard quote from sellers is. “The high list price doesn’t matter, they could always make an offer!” The problem with this statement is the fact that buyers don’t make offers on homes that they never see and they won’t come to see a property that is priced to high.
Ask less to get more
As painful as it is to reduce your price, you must reduce it in order to obtain showings. A lower price now will encourage showings and hopefully result in a quicker sale before the property stays on the market much longer and loses more negotiating power. The longer your house remains unsold, the less power you have to get the price you want. In the real estate business, the less time the house is on the market, usually, the more it sells for.
Advise: No one can get you showings and offers better than someone who does it all the time, a full time Realtor®.
