Mr. Seller – when is it time to lower the price of your home for sale?

Mr. Seller – when is it time to lower the price of your home for sale?

My home selling strategy is simple and I never vary from my formula:

• prepare the home to be “move in ready” and remove all possible predictable Buyer objections;
• price the home competitively, and
• market the property aggressively over the internet.

We know what to do to make a home “move in ready,” and with the help of a professional home stager, we can get your home in top-notch condition with even a small budget. My marketing does not change – I blog about my listings and advertise on the same internet sites each time. So, the only variable factor is the price.

We can make an educated guess as to what price the market will bring, while keeping in mind if the property will appraise for that amount. But, we’re still fishing for Buyers, despite the amount of research that goes into selecting an initial list price.

Mr. Seller, your home has been on the market for five weeks and has only been shown three times during the first week of listing. Your internet photos are excellent, thanks to the superb home staging done. Your property details, extensive verbiage and professional photographs are all over the internet.

Mr. Seller – when is it time to lower the price of your home for sale?

The fact that your home IS NOT BEING SHOWN tells us that it is NOT priced competitively. Why else would it not receive showings from cooperating Realtors? Why have I received no calls requesting showings?

It makes no sense to “wait for the right Buyer.” Your home should have an offer on it by now, particularly given the price RANGE that it’s in, its desirable location and many amenities.

The “market” is speaking to you, Mr. Seller. You can either adapt to feedback or continue to pay mortgage and utility payments as your listing acquires more days on market – thus making your listing susceptible to low-ball offers.

It’s your call, Mr. Seller, but don’t be surprised if I terminate our listing agreement before you do.

Lori is a residential Realtor serving the greater Tulsa area, and specializing in midtown Tulsa real estate. Please visit Lori’s web site, LoriCain.com or call 918-852-5036.