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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Getting good traffic and getting offers are two different things. It sounds like he isn't getting offers yet so your suggestion to wait for multiple offers and get highest and best is valid. 

Feb 12, 2017 05:29 PM
Rainmaker
4,385,921
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good traffic is one thing but no offers is another. Wait and see what the buyers want to offer and hopefully there will be multiple offers! I wouldn't raise the price just because you have good showings.

Feb 12, 2017 06:15 PM
Ambassador
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Good traffic without offers is not a good sign. I would not change the price.

Feb 12, 2017 07:58 PM
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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

I've done this successfully several times.  It depends on the property.

Feb 12, 2017 07:54 PM
Ambassador
4,552,633
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

If your market is like mine, you're getting good showings because inventory is low - raising the price STILL won't bring in an Offer!  If it was underpriced, you'd have multiple Offers by now!

Feb 12, 2017 07:47 PM
Rainmaker
206,670
Chuck Mixon
The Keyes Company - Cutler Bay, FL
Cutler Bay Specialist, GRI, CDPE, BPOR

Sound like everyone agrees with you, let the market raise the price, not the seller. If they insist, your hands are tied. 

Feb 12, 2017 05:58 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

You have already given them good advice, now remind them of the failure that often results from too greedy sellers.

And let the market raise the price.

Feb 12, 2017 05:27 PM
Rainmaker
1,558,335
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

In my area (L.A.), you do not withdraw the listing, you simply sign a price modification form and change the price in MLS. 

I would not be able to give advice on your situation since I do not know your comps. Listing a little bit lower does often produce a lot of buyers attention , many offers and a much higher final price. But sometimes you have a lot of traffic and no offers( happens often now when inventory is low)

Feb 13, 2017 01:32 PM
Rainmaker
7,033,883
Roy Kelley
Retired - Gaithersburg, MD

Provide the market information so your seller will make a good decision.

Feb 13, 2017 06:26 AM
Rainmaker
2,054,599
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

"That trick never works Bullwinkle " - Rocky J.

Feb 13, 2017 06:14 AM
Rainmaker
2,153,027
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Anonymous

Feb 13, 2017 05:48 AM
Rainmaker
945,526
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Good traffic = good marketing.
Good traffic - no offers = overpriced
Good traffic + no offers + raising price =
bad idea

Feb 12, 2017 08:10 PM
Ambassador
962,878
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Run, Forrest, Run

Feb 12, 2017 07:29 PM
Rainmaker
1,708,245
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Unless they make improvments that adds appraisal then no.

Feb 12, 2017 06:13 PM
Rainmaker
3,986,000
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have had that discussion before and a few times I did raise it

Feb 12, 2017 06:07 PM
Ambassador
2,608,498
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Debbie Reynolds has the perfect response.

Feb 12, 2017 05:37 PM
Rainmaker
1,045,215
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I would suggest that they hire an non anonymous agent the chances of their property being seen will be greatly improved by this move alone LOL

Feb 12, 2018 04:58 PM
Rainmaker
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

So there haven't been any offers? That says something right there. I would have a heart to heart with your seller and hopefully the seller will keep the price where it is. 

Feb 14, 2017 05:59 PM
Rainmaker
5,323,059
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

If it hasn't sold, it is price.

Feb 14, 2017 08:59 AM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Debe has a good answer.

Feb 13, 2017 10:44 AM
Rainmaker
864,358
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

You work for your client. I say go for it. The market is appreciating weekly. However, the fact that there are no offers make me think, the house is not priced correctly.

Feb 13, 2017 10:22 AM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

If you aren't getting offers with all the good traffic something is lacking. I would work on that first.

Feb 13, 2017 10:06 AM
Rainmaker
4,333,471
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Will make other agents think the listing agent is not a pro.

 

Feb 13, 2017 09:56 AM
Rainmaker
1,430,221
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Traffic and no offers = price might be too high to begin with!

Feb 13, 2017 09:49 AM
Rainer
258,949
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Not without a reason.  Always give 'em a reason. 

Feb 13, 2017 09:28 AM
Rainmaker
5,580,884
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I would not let that happen.... the seller needs to clearly understand the damage that would do...

Feb 13, 2017 09:08 AM
Rainmaker
2,691,172
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

That is a good time to have a "cause & effect" meeting & review the mission.

Feb 13, 2017 08:09 AM
Rainmaker
4,799,732
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I will advise the sellers and allow them to do what they insist upon.

Feb 13, 2017 07:30 AM
Rainer
352,876
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Debbie Reynolds and Dorie Dillard have your answers.  Personally I agree offers don't always follow showings such as the case here.  Yes, some have raised the price but it's not a good strategy.  

Properties priced correctly with traffic garner the best offers and sellers net the best price.  Lots of traffic and no offers...listen to the silence.

Feb 13, 2017 06:44 AM
Rainmaker
3,384,339
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It would be a complete waste of time to withdraw and re-list with such a Strong market now. I would go into detail showing the seller the comps that prove the price. When done up front, sellers do not have second thoughts on list price. 

Feb 13, 2017 06:40 AM
Rainmaker
849,202
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Adding square footage or doing major upgrades might justify raising the price, not good traffic. Showings mean it's well-priced and you are doing a good job marketing. I think you are right to let buyers bid up the price. 

Feb 13, 2017 06:31 AM
Rainmaker
4,263,679
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Why do you think this strategy will work?

 

Feb 13, 2017 06:01 AM
Rainmaker
598,824
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I would follow the advice you've already given.

Feb 13, 2017 05:53 AM
Rainmaker
915,778
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

When last, dear seller, did you buy something that was clearly marked up?

This change will be visible to all.

Be aware, the seller hired a professional. So did the buyer.

When either ignores the guidance of the professional they hired, they do not benefit.

Feb 13, 2017 05:01 AM
Ambassador
1,616,454
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

increase the price if the market demands it

Feb 13, 2017 04:28 AM
Rainmaker
4,490,321
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Why withdraw and relist? Just raise the price... who knows maybe you'll lose traffic and they'll figure it out. Traffic does not equal offers, by the way. 

Feb 13, 2017 03:59 AM
Rainmaker
3,070,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Susan Emo nailed this one!

Feb 13, 2017 02:12 AM
Ambassador
4,316,215
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

And there is nothing wrong with it! It may work!

Feb 12, 2017 10:10 PM
Rainmaker
3,708,553
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

It depends on the property.

Feb 12, 2017 07:58 PM
Rainmaker
808,903
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

What Debbie Reynolds & Dorie Dillard said.  If it is getting good traffic but no offers that is a sure sign that raising the price is not needed.   If it was priced too low you'd have a bunch of offers already and there would be a bid war so it would move up to market value anyway (that's how it would work in my market anyway). -Kasey

Feb 12, 2017 06:56 PM
Rainmaker
1,183,850
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

The buyers are more sophisticated. They offer a price and make it expire same day so you have no time to play your game.

Feb 12, 2017 06:07 PM