“I listed my P.B. home with an agent at $1.3 million. When it didn’t sell, I listed with my current agent for $1.15 million. Now she wants me to reduce my price again, but I’ve already come down 150K. I don’t think she’s doing a good job. What should I do?”
Answer:
You didn’t tell me enough to know if your agent is doing a good job. But I am hearing something else we need to talk about…
When you say you’ve already come down $150K, what exactly have you come down FROM?
No, I’m not asking what the price was.
Look at it this way… If your home is actually worth $1.15M and someone offers you 850K, then raises it to $1M and refuses to go higher, saying, “but I’ve already come up $150,000”.
Are you impressed?
I didn’t think so.
The door swings both ways. Reducing from an extremely unrealistic price to one that’s just “moderately” unrealistic won’t impress the buyers out there.
The moral is, as usual, if you’re realistic and price your home right from the beginning, your home will sell sooner and for more money.
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