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When should I consider dropping the price?
If you put your property on the market and it does not sell within a certain amount of time, then you should reconsider a few things.
It may be that:
- Your pricing is wrong
- You may be marketing to the wrong crowd or
- There is just not the demand for your type of property.
Market feedback can play a major role in assisting you establish exactly what the problem might be.
By ignoring market feedback and staying firm on your price, you run the risk of your property languishing on the market longer than you can afford to wait in the face of increased competition and waning interest.
If results show your property has been exposed to the right market and that the right buyers are showing up, all to no avail, then you can assume the market has not accepted your value proposition.
In this case, you have a tough decision to make.
When is it necessary to lower your price according to market feedback? During its peak interest or wait until the interest wanes away?
Enlist the expertise of an exceptional agent, and remain receptive to their advice by listening and remaining unemotional. Trust that they want your home to sell for the most amount of money in the least amount of time just as much as you do.
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- Why you should know the value of your home.
- Using an agent vs selling your property yourself.
- How to find a good real estate agent.
- Expect your agent to ask these questions.
- Advantage of Exclusive Listing.
- Auction vs Private Treaty.
- Increase your property’s value on a shoestring.
- 5 Tips when selling.
- 4 Steps to properly price your property.
- Be prepared for “Why are you selling?”.
- Why aren’t you getting offers.
- When should I consider dropping the price.
- 5 Considerations before downsizing.
- Preparing your home for professional photography.
- Marketing Essentials for Selling your home.
- 13 items home inspections should cover.
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