Should I reduce my price to sell my home?

When a home is on the market for a long time and it has not yet sold, may a homeowner legally ask his agent, or even if he is FSBO (for sale by the owner), should I lower the price? Have I overestimated my home?

When trying to use DOM (days on market) over 90 days, and especially when the DOM approaches 200, the first question everyone is focusing on is the price. "Oh, it must be affordable too high. Let it fall and try to get attention in that way."

Excessive registration is like death to serious homeowner, but sometimes the reason why homes have not sold anything to do with current prices. Elsewhere, I have written about the risk of excessive prices, which should be kept in mind, but it is a major factor that can be more important in "getting attention" from potential buyers.

How well is your home market? Is your marketing plan to reach buyers (where they may be) at this price and for your area and for the basic plan and features of your home? If your marketing is ineffective, the price is not why your home has not sold. That's because buyers are not even aware of your home.

Everyone who read my blog articles knows that one of my pets is ineffective marketing homes. So many FSBO and so many studying realtors consider simply setting a house in MLS and in some local newspaper ads it's all about this marketplace. Some people think they have secretly the key, because they have put some dishonest ads on the Internet. There is so much more to market and locate. It's so much more to know how to reach customers online.

Why does a marketing expert like Jay Abraham pay as much as $ 1 million dollars to explain one letter for major retailers? Because they can make an extra 200 million dollars in sales. Well, why not save all the money and simply pay Boeing engineer to write a letter, or retire a sports store owner or waitress? Because they do not know how. Time period. It does not matter if they think they know, it does not happen. That's why Jay Abraham can charge so much. Because he produces the results.

Homeowners may think they know about marketing. Realtors can get acquainted as an expert who can sell their home. If they are wrong and do not know, who pays the price? Homeowner who is stuck to a house that has not sold. A Boeing engineer can be very ingenious about engineering, the sporting goods company's retirement could be very successful in his business and a waitress can be magnificent but are market experts in selling their own homes in this market? Certainly not. I knew they would admit it. [They may say, “I just want to give it a try.” Red flag. Maybe I'll write about how listings go stale once they're overpriced, and no one comes back.]

I recently registered an amazing home with amazing views of international waters. It was registered by another agent, but nothing happened for six months. That's how my client asked, "Do I have to reduce the price." My answer was a questionnaire: "Was your house labeled for potential buyers?" His answer was quick, "No," he knew it was not. My answer, "We do not know if we still need to lower the price."

If you have a home listed $ 425,000, but it was not really expecting buyers, you could lower the price to $ 400,000 and still You do not have any activity except a tire sensor. You could drop the price 6 months later at $ 387,000 and still you would not have a bid. How much money are you ready to lose until you sell it to someone who's just looking to steal It's not always about prices.

Selling your home is effective marketing as well as a reasonable registration fee. Effective marketing is not too inexperienced. The difference between good marketing and bad marketing is 60 DOM or 324 DOM. It will be even better. is on the market for a long time before it sells will also get a lower price than the same house that was sold for 60 days with a good m archive.

Today the real real estate market is effective marketing more important than ever. Either you, as a homeowner, will become an expert in marketing on all sides if you are selling your home at a reasonable time at the highest price, or you should be darn sure that your realtor is a true expert. Do you know how to distinguish the difference between a realtor and who is not? [Hint: just because their lips are moving does not mean they are saying something that will help you sell your home.]

If you sell your home soon, take care. It's dangerous out there. There are many traps for unwary and a poor marketing plan is one of these traps.

Source by Chuck Marunde

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