Jack Lewitz (Exit Strategy Realty)

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Rainmaker
808,302
Susan Laxson CRS
Premiere Plus Realty - Naples, FL
Realtor in Naples & Marco Island, FL

Traffic is really important - if there isn't interest, then usually it is the price.

Feb 14, 2017 08:31 AM
Rainmaker
1,766,546
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Showings or lack there of, buyer comments.

Feb 14, 2017 10:03 AM
Rainmaker
5,580,884
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

if there's no traffic or very little traffic, it's not priced properly.... everything sells for the right price...it doesn't matter if it's next to a sewage facility.... it will sell...

Feb 14, 2017 08:06 AM
Ambassador
1,900,417
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Showings but no offers is a big indication price is too high.  No or low traffic could be other factors.

Feb 14, 2017 08:23 AM
Ambassador
4,743,483
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

The traffic, or not, and the market conditions

Feb 14, 2017 08:10 AM
Ambassador
3,158,154
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

The pulse of the market ... how long the home has been on the market ... level of activity ... all factors help determine when it is a good time to reduce the price. 

Feb 14, 2017 07:26 PM
Ambassador
3,987,010
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

When the market changes or there is a lack of interest (no offers) I make a recommendaion to the seller and it is his decision to reduce the price.

Feb 14, 2017 05:38 PM
Rainer
74,407
Michael Scruggs
UTR Texas-Realtors - Houston, TX
ABR, CNE, TAHS

Seeing what the market is currently doing.  Traffic and days on market without much interest from buyers.

Feb 14, 2017 08:15 AM
Rainmaker
1,045,215
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Its very very situational.. I always give sellers my honest opinion on value UPFRONT never tell them what they WANT to hear just to get the listing though

Feb 10, 2018 09:13 PM
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

Lack of showings and/or lack of offers.

Feb 26, 2017 07:45 AM
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

Most of the time, it is the lack of activity.

Feb 16, 2017 02:18 PM
Rainmaker
4,433,809
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Too many showings and no offers, or no showings in a month, competition .

Feb 16, 2017 03:58 AM
Rainmaker
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

How are the showings on this property?

Feb 15, 2017 08:18 PM
Ambassador
2,608,498
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Lack of showings, or, lots of showings but no offers.

Feb 15, 2017 03:55 PM
Rainmaker
4,567,028
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Lack of action! Price can be effected by condition and location differences from the comps

Feb 15, 2017 02:16 PM
Ambassador
3,994,420
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

For me, it is mainly activity.  If the listing is still getting activity at the current price, no reason to reduce it.  From the feedback, perhaps there is something else that can be done to get offers, rather than just activity?

Feb 15, 2017 07:05 AM
Rainmaker
7,033,883
Roy Kelley
Retired - Gaithersburg, MD

Market conditions.

Feb 15, 2017 06:31 AM
Rainmaker
945,423
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Activity works for me

Feb 15, 2017 05:40 AM
Ambassador
1,616,454
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

DOM and activity

Feb 15, 2017 05:32 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 Laxson CRS nailed this one!

Feb 15, 2017 05:02 AM
Rainmaker
4,490,321
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

When the home doesn't sell and/or you've had great traffic and there's nothing you can do to improve location, condition, marketing exposure, etc.

Feb 15, 2017 04:05 AM
Ambassador
4,316,215
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Jack Lewitz - oh this is simple - if the home sits on the market for more than 4 weeks at the same price, time for the reality check. Either 'adjust' the price or withdraw.

Feb 14, 2017 10:05 PM
Ambassador
4,552,183
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Compare it to the market - showings, days on the market, etc.  Typically if you have a lot of showings and no Offers, it's time!  If you have few showings in a great area, it's time...

Feb 14, 2017 09:32 PM
Rainmaker
608,970
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Days on market, feedback from other agents, getting the listing back on the MLS "hot sheet."

Feb 14, 2017 08:28 PM
Rainmaker
598,824
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I try to convince the owner to list at the appropriate price so that reductions are unecessary. If they insist on listing it high and don't get an offer, I try to do one major price reduction to get it sold. I don't believe in homes sitting on the market and I strongly believe that a properly priced home will sell quickly in any market.

Feb 14, 2017 08:04 PM
Rainmaker
4,385,921
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

In our market..if it's on more than 30 days and not offers..look at 2 things..price or condition.

Feb 14, 2017 05:38 PM
Rainmaker
142,746
Diana White-Pettis
Bennett Realty Solutions - Upper Marlboro, MD
GRI, CDPE, CNE, WHC Upper Marlboro Homes for Sale

When other properties that are similiar are reducing their price, no traffic, and a discussion with the seller.

Feb 14, 2017 05:34 PM
Rainmaker
1,672,115
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West - Carlsbad, CA
Presence, Persistence & Perseverance

When the seller instructs me to do so.

Feb 14, 2017 03:03 PM
Rainmaker
2,691,172
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

We have this conversation upfront in detail prior to going live. If the seller insists on the greed gene, I insist on a agreement that says after so many weeks, we lower it.

Feb 14, 2017 03:03 PM
Ambassador
3,983,359
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

#1 is activity and I agree with market time

Feb 14, 2017 02:54 PM
Rainmaker
4,333,471
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

If it does not sell in 3 weeks.

 

Feb 14, 2017 02:50 PM
Rainmaker
2,054,599
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Low activity

Feb 14, 2017 01:24 PM
Rainmaker
808,903
Kasey & John Boles
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties

Market activity on the home compared to statisitcs, no showings, lots of showings but no offers, feedback from the agents & buyers looking at it, etc. 

Feb 14, 2017 01:14 PM
Rainer
1,290
Vickie Hemphill
Hemphill Homes - Homewood, AL
Listing specialist serving Metro Birmingham

Jack, my goal is to list properties competively so that price reductions are not necessary.  However, when necessary, I look at the market first to see what other properties are selling for, and how many reductions have occurred in the vicinity of my property.  Then, if nothing is standing out, I talk with my mentor, and ask other agents what they are seeing in their markets.

Feb 14, 2017 12:09 PM
Rainmaker
870,648
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

If other similar properties in same price range are going under contract, and your not even getting offers.

Feb 14, 2017 11:28 AM
Rainmaker
789,393
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Days on market + showings + offers...  If you have showings and no offers, find out where they buyers went.  If you have routine showings, dial up the patience and monitor the feedback.

Feb 14, 2017 11:19 AM
Rainmaker
1,430,221
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The three things you mentioned plus comments from other agents.  Actually raised a price of one listing because of agent feedback.

Feb 14, 2017 11:04 AM
Rainer
258,949
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Biggest thing is client agreement.  If they don't/ can't see the need then all the factors in the world won't help. 

Feb 14, 2017 10:54 AM
Rainmaker
1,466,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jack Lewitz The facts from a current market analysis. The facts will justify a price reduction.

Feb 14, 2017 09:49 AM
Rainmaker
5,767,466
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jack,

I agree with Corinne Guest, Managing Broker .

Feb 14, 2017 09:41 AM
Rainmaker
4,350,159
Richard Weeks
Dallas, TX
REALTOR®, Broker

No offers, few showings, and feedback from agents regarding price.

Feb 14, 2017 09:28 AM
Rainmaker
129,638
sandy straley
Rindlesbach Homes - Salt Lake City, UT
Selling Homes for over 40 Years

the activity over two week period and also feed back from agents on the condition of the home. . . . .

Feb 14, 2017 09:03 AM
Rainmaker
1,448,313
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Time(30 days), activity and no offers would be a good indication to reduce.

Feb 14, 2017 08:47 AM
Rainmaker
3,384,339
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

What the comps are valued at, a lack of activity, why no offers and condition

Feb 14, 2017 08:45 AM
Rainmaker
1,157,535
FN LN
Toronto, ON

A signature from the seller authorizing the list price reduction.  The seller makes the decision to reduce the list price.  I provide advice and recommendations for the seller to consider.

Feb 14, 2017 08:43 AM
Rainmaker
146,758
Julie Larson Realtor® Sarasota FL 941-284-9826
White Sands Realty Group FL | 941-284-9826 | Serving Sarasota, Manatee & Charlotte Counties - Sarasota, FL
When you're thinking of moving...ThinkSuncoast.com

Primarily the seller's motivation to sell. If we're not getting traffic and/or offers and they need to get it sold, then they've got a decision to make.

Feb 14, 2017 08:42 AM
Ambassador
5,752,579
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

My desire to sell vs my desire to profit.

Feb 14, 2017 08:26 AM
Rainmaker
1,708,245
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

First absorption rate, then motivation on seller's needs, then lack of second showings or contracts.

Feb 14, 2017 08:09 AM
Rainmaker
915,778
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

1. Level 1 and level 2 responses are 10 times monthly sales (on me)

2. Traffic is within expectation (one me)

3. Offers have been made. (after proper maturing, on seller)

4. Seller time line. (on seller. price dictates time)

Feb 14, 2017 08:09 AM