823,579
Traffic is really important - if there isn't interest, then usually it is the price.
-
Tony and Suzanne Marri...
Scottsdale, AZ
-
Diana White-Pettis
Upper Marlboro, MD
-
Brenda Mayette
Glenville, NY
-
Lyn Sims
Schaumburg, IL
1,844,301
Showings or lack there of, buyer comments.
-
Nina Hollander, Broker
Charlotte, NC
-
Diana White-Pettis
Upper Marlboro, MD
-
Brenda Mayette
Glenville, NY
5,583,278
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...
-
Michael Scruggs
Houston, TX
-
Nina Hollander, Broker
Charlotte, NC
-
Diana White-Pettis
Upper Marlboro, MD
2,178,603
Showings but no offers is a big indication price is too high. No or low traffic could be other factors.
-
Nina Hollander, Broker
Charlotte, NC
-
Diana White-Pettis
Upper Marlboro, MD
5,049,450
The traffic, or not, and the market conditions
-
Nina Hollander, Broker
Charlotte, NC
-
Diana White-Pettis
Upper Marlboro, MD
3,345,091
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.
-
Nina Hollander, Broker
Charlotte, NC
3,988,007
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.
-
Nina Hollander, Broker
Charlotte, NC
74,457
Seeing what the market is currently doing. Traffic and days on market without much interest from buyers.
-
Diana White-Pettis
Upper Marlboro, MD
1,045,440
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
4,800,082
5,868,554
4,434,127
Too many showings and no offers, or no showings in a month, competition .
2,224,473
2,684,109
5,216,409
Lack of action! Price can be effected by condition and location differences from the comps
4,693,341
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?
989,652
1,617,916
3,071,489
5,104,931
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.
4,319,419
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.
5,230,113
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...
711,852
Days on market, feedback from other agents, getting the listing back on the MLS "hot sheet."
599,274
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.
5,005,659
In our market..if it's on more than 30 days and not offers..look at 2 things..price or condition.
142,796
When other properties that are similiar are reducing their price, no traffic, and a discussion with the seller.
1,725,996
2,781,173
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.
4,272,548
4,936,705
2,182,552
809,258
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.
1,290
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.
911,338
If other similar properties in same price range are going under contract, and your not even getting offers.
851,242
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.
1,502,998
The three things you mentioned plus comments from other agents. Actually raised a price of one listing because of agent feedback.
259,005
Biggest thing is client agreement. If they don't/ can't see the need then all the factors in the world won't help.
1,466,207
Jack Lewitz The facts from a current market analysis. The facts will justify a price reduction.
5,772,575
4,882,355
129,698
the activity over two week period and also feed back from agents on the condition of the home. . . . .
1,513,143
Time(30 days), activity and no offers would be a good indication to reduce.
3,416,038
What the comps are valued at, a lack of activity, why no offers and condition
1,157,785
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.
151,633
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.
6,393,609
1,712,676
First absorption rate, then motivation on seller's needs, then lack of second showings or contracts.
921,504
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)