William's Blog...with a smile!

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Dropping the price isn't always the answer.

It seems to be a consensus that the only way to sell a listing that has not sold is drop the price.

But it isn't always about price.

There are many other issue that can influence the sale.

 

Condition of the home.

Location of the home

Lot size

Taxes

Total inventory to pick from.

Economy of the area.

 

there are a lot more....what kind of  benefits are offered.

Schools, church, entertainment...ect.

 

If outside influences are part of the problem, a lower price may not help.

 

Comment balloon 11 commentsWilliam Feela • August 23 2016 05:39PM

Comments

William, there is another thing - access to the property.  If we can't show it, we can't sell it!  And when sellers treat showings like home invasions, even a big price reduction might not work.

Posted by Patricia Kennedy, For Your Home in the Capital (Evers & Company Real Estate, Inc.) 9 months ago

There is always a price point where someone is going to buy William Feela 

Posted by Bob "RealMan" Timm, Bob Timm Owner/Broker National Marketing Realtors (National Marketing Realtors) 9 months ago

You are right William, I just answered your question about this in the Q & A section.

Posted by Sybil Campbell, REALTOR® ABR, SFR, SRES Williamsburg, Virginia (Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia) 9 months ago

I had this discussion with a seller today. You are spot on with this. 

Posted by Debbie Laity, Your Real Estate Resource for Delta County, CO (Cedaredge Land Company) 9 months ago

Often it is condition that needs addressing and doing a few things can present it in a totally different way and leave a positive impression.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) 9 months ago

So True Bill!

Much more to selling than reducing the price until is sells and the mark of a good agent is knowing what it will take to sell the attributes rather than just make it a bargain.

Posted by Bob Crane, Forestland Experts! 715-204-9671 (Woodland Management Service) 9 months ago

I am singing amen to Patricia Kennedy's comments! 

Posted by Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900!) 9 months ago

Good morning William.  All external issues and other factors can eventually be abated for the right price.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 9 months ago

For every defect there's a price.  If the asking price is too high for the home's current condition, it can be brought down until it hits the point where  a buyer will accept the defect.   If the defect can be fixed, and then the home will sell for more.

Of course, some defects can't be fixed.  In that case, lowering price may be the only option.

Posted by Dianne Goode, Realtor/Broker (Raleigh Cary Realty) 9 months ago

Good morning again William. Price is important but clearly there are many facotors as you point out.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 9 months ago

Looks like ther are others that really agree with you and I will do the same.

There could be many many issues.

Posted by Vern Eaton, Realtor 651-674-7449 9 months ago

Participate