The Home Leader Report: Your Home List Price, Should You Lower It?

Thursday, October 24, 2013

Your Home List Price, Should You Lower It?

Are you trying to sell your home and finding that it is not selling very well? This might be due to a number of reasons that you can't control, such as its location or the fact that the home layout is somewhat unusual.

If you are struggling to sell your home, there is one factor that you can alter that might change things – the price.

Many homeowners are reluctant to lower the price of their home, because it feels somewhat like a defeat. However, while you want to make as much money from your house sale as possible – it is better to sell your home at a slightly cheaper price than to let it sit on the market for a long time.

Have You Had Many Lookers, But No Buyers?

If you have had many people come to look at your home, but no one place an offer, this might be a sign that your price is too high. These lookers might be interested in your home, but are waiting for the price to fall before they would consider buying it.

How Long Has Your Home Been On The Market?

Has your house been on the market for more days than the average for your particular neighborhood? If it has, this might be due to the price. Letting your home sit on the market for a long time is not such a good idea, because buyers will start to wonder what is wrong with it. This can turn people off and delay your sale even further.

Do You Have A Deadline?

Perhaps you have a job offer in another city or you have already purchased another home, so you need to sell your house ASAP. In this case, dropping your price a little bit can be a great way to generate buyer interest and get the home sold. Remember – it doesn't matter how much you need the money, a home is only worth what the buyer is willing to pay for it.

These are a few situations where you might want to consider reducing the price of your property. To find out more about selling your home, contact your trusted real estate professional.